The latest report on Electric Vehicle Power Inverter Market by Infinium Global Research gives complete coverage of the Electric Vehicle Power Inverter Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Electric Vehicle Power Inverter such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Green Vehicles Have Become Familiar Sights on the Road with Growing Sales of Hybrid Electric Vehicles
The world is shifting towards cars that use alternative energies like electric motors, to conserve energy resources and decrease pollution emissions for a cleaner environment. Traction inverters are crucial components of modern electrified automotive powertrains. Advances in power electronics have enabled lower-cost inverters with high reliability, efficiency and power density, suitable for mass-market consumer automotive applications.
In recent years, green vehicles have become familiar sights on the road with growing sales of hybrid electric vehicles and the arrival of the first mass-production battery electric vehicles. Sales of these green vehicles are set to rise further in the future with environmental regulations on CO2 and stringent exhaust emissions.
Increasing demand for electric vehicles in developed and developing countries is the major driving factor for the electric vehicle power inverter market. Furthermore, factors such as rapid technological advancements in the field of power electronics and growing stringent emission standards across the globe are other driving factors for the market growth. The rise in demand for an improved driving range of electric vehicles also fueling market growth.
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Increasing Government Support from Various Countries Across the Globe for the Production of Electric Vehicles is Boosting
The range and emission levels in electric vehicles depend on their electronic powertrain control systems. Inverters play a major role in controlling electronic powertrain. Increasing government support from various countries across the globe for the production of electric vehicles is boosting the growth of the market. However, more energy from the battery is taken to the inverter considering switching losses and thermal efficiency of electronic units in the electric drive system that restrains the market growth. Moreover, implementation of in-wheel microinverter system is expected to provide growth opportunities to the market players.
Geographically, Asia-Pacific dominates the global electric vehicle power inverter market due to the high adoption of electric vehicles in countries such as China and Japan. The rising charging station facilities in Japan and China are fueling market growth. North America is the second-largest market for electric vehicle power inverter owing to aggressive promotion of electric vehicles by major players in this region.
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- Comprehensive analysis of global as well as regional markets of the Electric Vehicle Power Inverter.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.