The global Electric Vehicle Power Inverter market size is expected to be worth around US$ 49.7 billion by 2027, according to a new report by Nova One Advisor .
The global Electric Vehicle Power Inverter market size was valued at US$ 22.90 billion in 2020 and is anticipated to grow at a CAGR of 13.4% during forecast period 2021 to 2027. Electric vehicle power inverterhas wider application in electric vehicles. The inverter converts direct current (DC) into alternating current (AC), which allows to run electric vehicles motors. There are different types of inverters, which are used in electric vehicles such as soft switching inverter and traction inverter. In addition, electric vehicle power inverter helps to generate very high current during the time of switching the engine as the generated voltage and input voltage have opposite polarities,which generate current.Therefore, thisleads to increase indemand forelectric vehicles, resulting in the growth of the electric vehicle power inverter market.
Governmentstakeinitiativesto reduce pollution and harmful gasses for aneco-friendly environment. Increase indemand for electric vehicles initiates increase in demand for electrical parking brake systems. Electric vehicles do not emit harmful gases as battery or inverter isused instead of fuel. Therefore,growth of the electric vehicle market propels the growth of the electric vehicle power inverter market.
COVID-19 Impact:
The industrial report mentions about the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The Electric Vehicle Power Inverter report proficiently explains about the resulting factors and concerns of manufacturers. Researchers have also well-explained about how the producers and providers will tackle with the ongoing epidemic and the key strategies to be adopted post pandemic for turning their businesses back to normal.
Regional Insights:
The Electric Vehicle Power Inverter market is segmented as North America, South America, Europe, Asia Pacific, and Middle East and Africa. Researchers have thoroughly studied about the historical market. With extensive research, experts have offered details on the current and the forecast demand made by these regions. The Electric Vehicle Power Inverter report also includes highlights on the prevailing product demanded by end users and end customers for better understanding of product demand by producers. This will help the producers and the marketing executives to plan their production quantity and plan effective marketing strategies to more buyers. Businesses can hence, increase their product portfolio and expand their global presence. Electric Vehicle Power Inverter market research report further offers information on the unexplored areas in these regions to help the producers to plan promotional strategies and create demand for their new and updated products. This will again help the manufacturers to increase their customers and emerge as leaders in the near future.
Major Players Covered in this Report
The updated market research report on Electric Vehicle Power Inverter market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Significant Market Participants Operational in the Electric Vehicle Power Inverter Market are:
Aptiv, Continental AG, DENSO Corporation, Hitachi Automotive Systems Ltd, Infineon Technologies AG, Meidensha Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Toyota Industries Corporation, and Valeo Group
Market Segmentation:
The report is divided into major categories comprising product, application, regions and others. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Every segment is studied thoroughly in order to offer a better picture to the buyers and stakeholders to benefit from. Information like highest prevailing product, highly demanded product by the application segment and end users are rightly mentioned in the Electric Vehicle Power Inverter report.
Propulsion
Full Hybrid Vehicle
Plug-in Hybrid Vehicle
Battery Electric Vehicle
Inverter Type
Traction Inverter
Soft Switching Inverter
Vehicle Type
Passenger Vehicle
Commercial Vehicle
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Manufacturers
The report includes comprehensive company profiling of leading and emerging companies competing in the global Electric Vehicle Power Inverter market. It provides a detailed list of players operating at a global level. The players have been listed according to the type of products they offer in the global Electric Vehicle Power Inverter market and other factors. As part of the company profiling, the analysts authoring the report has provided the market entry year of each player considered for the research study. The report also offers extensive price, volume sales, and revenue analysis by the manufacturer at the global level for the period 2016-2021.
In this study, the years considered to estimate the market size of Electric Vehicle Power Inverter are as follows:
The Queries answered by Electric Vehicle Power Inverter Market Research Report include:
Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
OBJECTIVES OF THE STUDY