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Vehicle Inverter Market: Introduction
Vehicle Inverter is an equipment that is utilized to convert one form of energy into other i.e. it convert input DC voltage into output AC voltage or vice versa. The output AC voltage is symmetric in nature and has a certain frequency and magnitude. There are various type of vehicle inverter that are used in electric vehicles for different purpose such as traction inverter and soft switching inverter. Vehicle inverter is necessary in each and every electric vehicles for propulsion, cellphone charging and other electric functioning. The growth of the vehicle inverter market is influenced by various factors including stringent vehicle emission norms, increasing environment safety concerns, tax rebates offered by government as well as subsidiaries on electric vehicles. These factors increases the production and sales of electric vehicle which significantly effect on the growth of vehicle inverter market
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Vehicle Inverter Market: Market Dynamics
The need of higher level of integration in automotive and transportation industry is increasing day by day. The concept of electro-mobility and an electrical machine combined with all the power electronics required a vehicle inverter, for vehicle propulsion and power. Recently, most of the electric vehicles contains semiconductor modules of SiC and Si-IGBTs. The evolving trend of mechatronics to integrate electric components of a vehicle and mechanical parts requires these modules for controlling the vehicles. These modules make the controlling faster and easier which will attract the customer to buy electric vehicles and positively effect on the growth of vehicle inverter market.
Public transportation systems in certain countries, including France, England, Japan, Germany, Switzerland and USA are substantially strong, resulting in lesser inclination towards new sales of electric vehicles. Therefore, end user in these countries are shifting towards public transports, especially for long distance travels. This is a key factor hampering the sales of passenger cars, which in turn, is expected to stagnant the growth of vehicle inverter market over the assessment period.
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Vehicle Inverter Market: Segmentation
Vehicle Inverter market can be segmented by propulsion type and vehicle type
On the basis of offering, Vehicle Inverter can be segmented as:-
- Battery Electric Vehicles (BEV)
- Hybrid Electric Vehicles (HEV)
- Plug-in-Hybrid Electric Vehicles (PHEV)
On the basis of vehicle type Vehicle Inverter can be segmented as:-
- Passenger Cars
- Commercial vehicles
On the basis of output power Vehicle Inverter can be segmented as:-
- Less than 130 KW
- More than 130 KW
On the basis of technology Vehicle Inverter can be segmented as:-
On the basis of sales channel Vehicle Inverter can be segmented as:-
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Vehicle Inverter Market: Regional Overview
Developed regions such as Western Europe and North America are estimated to fuel the demand for vehicle inverter market owing to increasing awareness towards reducing vehicles emission and environment safety. Along with this factor, government initiatives for green and clean environment in many countries of Europe also play an important for the growth of electric vehicle which in turn propel the demand for vehicle inverter. Asia Pacific is expected to dominate the vehicle inverter market due to increasing sale of electric vehicles in China and Australia. China is expected to hold prominent share in the global vehicle inverter market as China is the house for many key manufacturer of electric vehicles such as Geely, SAIC, and BYD. Moreover, emerging economies such as India, ASEAN, creates significant growth opportunities for the vehicle Inverter market due to increasing automotive and transportation industry over the forecast period. Middle East and Latin America are expected to grow with significant growth rate throughout the assessment period due to increasing infrastructure development which will propel the demand for electric vehicles and directly effect on the sales of vehicle inverter.
Vehicle Inverter Market: Market Players
Examples of some of the market participants in the global Vehicle Inverter market identified across the value chain includes:-
- Valeo Group
- Toyota Industries Corporation
- Robert Bosch GmbH
- Mitsubishi Electric Corporation
- Meidensha Corporation
- Hitachi Automotive Systems, Ltd.
- Denso Corporation
- Continental AG
- Calsonic Kansei Corporation
- Aptiv PLC
The Vehicle Inverter market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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