Electric Vehicle Power Inverter Market Size, Forecast [2030]
Electric Vehicle Power Inverter Market Size, Forecast [2030]
Segments - Electric Vehicle Power Inverter Market By Type (Mild Hybrids, Full Hybrids, Others), By Application (Household, Commercials, and Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
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Report Description
Electric Vehicle Power Inverter Market Outlook
The global electric vehicle power inverter market size was valued at USD 17,110 Million in 2019 and is projected to reach USD 29,550 Million by 2027, expanding at a CAGR of over 6.4% during the forecast period. A power inverter is an electrical device that converts electricity from a DC source to AC to be used to drive a device or appliance.
Considering the same function in an electric vehicle, a power inverter is one of the key components to converts battery DC power into AC power for an electric motor. To manage EVs and hybrids electric drive systems, power inverters are used. The power inverter supplies current to the battery for recharging purposes during regenerative braking. It also provides electric power to the motor for vehicle momentum.
Adversely, the weight and size of the power inverter in a vehicle have a direct impact on the driving range and road performance, and consistency of the vehicle. In order to increase automotive inverter's power efficiency and reduce size and weight, the inverter manufacturers in the vehicle sector have upgraded inverter abilities to handle energy from both the battery and motor end.
Electric Vehicle Power Inverter Market Dynamics
Major Shift from Conventional Engine to Electric & Hybrid Engine
The key automakers are progressively moving their focus from conventional engine vehicles to electric & hybrid vehicles, with mounting stringent emission standards across the globe. Also, to motivate the sale growth of electric vehicles among the customers, regional governments in many countries have initiated financial benefits like incentives, tax benefits, and also other non-financial benefits such as carpool lane access, and ease in new car registration, better accessibility of charging infrastructure, and active involvement by automotive OEMs among others.
Moreover, the increasing installation of charging station facilities in key regions such as North America, Europe, Asia-Pacific, by the major electric vehicle manufacturer has sustained the growing electric vehicle sales.
In addition, the growing concerns of regulatory bodies toward a green environment have increased the demand for zero-emission vehicles. Major economies such as the US, Canada, Germany, Japan, South Korea, and the UK are enthusiastically encouraging the use of electric vehicles to minimize carbon emissions, which has also contributed to the growth of electric vehicle sales.
Electric Vehicle Power Inverter Market Segment Insights
On the basis of applications, the market has been divided into households, commercials, and others. The commercial application segment is showing a significant growth rate during the forecasted period. The driving factors associated with are increasing acceptance of electric public transport, predominantly in China, India, South East Asia, have supported the growth of the electric commercial segment.
Various developed and developing countries are influenced to switch their current fuel bus fleet with electric battery-powered buses to adhere to their regional/legislative norms. The growing implementation of the green public transport fleet will drive the growth of electric commercial vehicles. Furthermore, the continuously rising e-commerce market, an increase in logistics activities, and shared mobility trends in metro cities will contribute to the electric commercial vehicles market growth during the forecast period.
Regional Analysis
On the basis of regions, the global electric vehicle power inverter market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is a key region of the market and accounted for a market share of over 17% in 2019. The presence of major market players and development activities in the region is expected to upsurge the market growth in the country during the forecast period.
For instance, Denso has started producing a next-generation inverter for the US original equipment manufacturers. They are also expanding new technology with other key customers in the North American market. It is part of Denso's USD 1 Bn investment to make its Maryville, Tennessee, location a manufacturing hub in North America for electrification, connectivity, and advanced safety products.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Electric Vehicle Power Inverter Market
- Historical, Current and Projected Market Size in terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Electric Vehicle Power Inverter Market Performance
Segments
Type
- Mild Hybrid
- Full Hybrid
- Others
Application
- House Hold
- Commercial
- Others
Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
Key Market Players Profiled in the Report
- Hitachi Automotive
- Toyota Industries
- Mitsubishi Electric
- Continental
- Bosch
- Denso
- Delphi
- Fuji Electric BYD
- Others
Competitive Landscape
Key players in the electric vehicle power inverter market include Continental, Bosch, Denso, Hitachi, Delphi, and Mitsubishi. They are considered as key manufacturers in the market based on their product availability, regional presence, supply chain management system, and increasing demand for their product. The players are implementing significant strategies such as acquisition, and geographical expansion where the potential opportunity for the Electric Vehicle Power Inverter extraction is added in the company’s capacity. For instance,
- In 2018, Delphi Technologies introduced the first combined inverter and DC/DC converter in China. Delphi had invested USD 80 million in 180,000 square foot manufacturing plant in Suzhou, in Jiangsu Province.In the same year 2018, Mitsubishi Electric completed the construction of its new eight plant building at Himeji Works, Hirohata plant, with an investment of around USD 63.6 million. The new plant improved the production of motors, generators, inverters for hybrid and electric vehicles.
Frequently Asked Questions
Major Manufactures include, Continental, Bosch, Denso, Hitachi, Delphi and Mitsubishi.
The base year considered for the global Electric Vehicle Power Inverter market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
COVID-19 hampered the automotive industry. This, in turn, is restraining the electric vehicle power inverter market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Major Shift from Conventional Engine to Electric & Hybrid Engine and major concerns my regulatory bodies towards green environment are expected to drive the market growth during forecast period.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such as technology landscape, Regulatory landscape, and competitive landscape.
According to this Growth Market Reports report, the market from Electric Vehicle Power Inverter is likely to register a CAGR over 6.2% during forecast period 2020-2027, with an anticipated valuation of USD 29,550 million by the end of the 2027.
Yes, the report gives the brief introduction of the types of electric vehicle power inverter.
Yes, the technology landscape is available on request.
Additional company profiles can be provided on request.
Table Of Content
Chapter 1 Executive SummaryChapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Vehicle Power Inverter Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Vehicle Power Inverter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.2.4 Market Trends
4.3 Electric Vehicle Power Inverter Market - Supply Chain Analysis
4.4 Pipeline Analysis
4.5 Future Perspective: Ambulatory Surgical Centers
4.6 Revision Surgery Outlook
4.7 Global Electric Vehicle Power Inverter Market Size & Forecast, 2017-2027
4.7.1 Electric Vehicle Power Inverter Market Size and Y-o-Y Growth
4.7.2 Electric Vehicle Power Inverter Market Absolute $ Opportunity
Chapter 5 Global Electric Vehicle Power Inverter Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 Electric Vehicle Power Inverter Market Size Forecast By Type
5.2.1 Mild Hybrid
5.2.2 Full Hybrid
5.2.3 Others
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Electric Vehicle Power Inverter Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Electric Vehicle Power Inverter Market Size Forecast By Application
6.2.1 Household
6.2.2 Commercial
6.2.3 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Electric Vehicle Power Inverter Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Vehicle Power Inverter Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Electric Vehicle Power Inverter Analysis and Forecast
9.1 Introduction
9.2 North America Electric Vehicle Power Inverter Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Electric Vehicle Power Inverter Market Size Forecast By Type
9.6.1 Mild Hybrid
9.6.2 Full Hybrid
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis By Type
9.8 Absolute $ Opportunity Assessment By Type
9.9 Market Attractiveness Analysis By Type
9.10 North America Electric Vehicle Power Inverter Market Size Forecast By Application
9.10.1 Household
9.10.2 Commercial
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis By Application
9.12 Absolute $ Opportunity Assessment By Application
9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Electric Vehicle Power Inverter Analysis and Forecast
10.1 Introduction
10.2 Europe Electric Vehicle Power Inverter Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Electric Vehicle Power Inverter Market Size Forecast By Type
10.6.1 Mild Hybrid
10.6.2 Full Hybrid
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 Europe Electric Vehicle Power Inverter Market Size Forecast By Application
10.10.1 HouseHold
10.10.2 Commercial
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Electric Vehicle Power Inverter Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Electric Vehicle Power Inverter Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Electric Vehicle Power Inverter Market Size Forecast By Type
11.6.1 Mild Hybrid
11.6.2 Full Hybrid
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Asia Pacific Electric Vehicle Power Inverter Market Size Forecast By Application
11.10.1 HouseHold
11.10.2 Commercial
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Electric Vehicle Power Inverter Analysis and Forecast
12.1 Introduction
12.2 Latin America Electric Vehicle Power Inverter Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Electric Vehicle Power Inverter Market Size Forecast By Type
12.6.1 Mild Hybrid
12.6.2 Full Hybrid
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Latin America Electric Vehicle Power Inverter Market Size Forecast By Application
12.10.1 HouseHold
12.10.2 Commercial
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Electric Vehicle Power Inverter Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Electric Vehicle Power Inverter Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Electric Vehicle Power Inverter Market Size Forecast By Type
13.6.1 Mild Hybrid
13.6.2 Full Hybrid
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Middle East & Africa (MEA) Electric Vehicle Power Inverter Market Size Forecast By Application
13.10.1 HouseHold
13.10.2 Commercial
13.10.2 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
14.1 Electric Vehicle Power Inverter Market: Competitive Dashboard
14.2 Global Electric Vehicle Power Inverter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Fuji Electric
14.3.2 Continental
14.3.3 Bosch
14.3.4 Hitachi Automotive
14.3.5 Toyota Industry
14.3.6 Denso
14.3.7 Delphi
14.3.8 Mitsubishi Electric
14.3.9 Metric Mind
14.3.10 Others
Methodology
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