Electric Vehicle Power Inverter Market

Global 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)

  • Report ID: AL-83
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 48
  • No. Of Pages: 157
  • Format:
  • Pub. Date: 2020-07-23
  • Share:

Market Outlook:

The global electric vehicle power inverter market was valued at USD 17,110 Million in 2019 and is projected to reach USD 29,550 Million by 2027, expanding at a CAGR 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 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.

Global Electric Vehicle Power Inverter Market Share

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.

Segmental Outlook

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.

Global Electric Vehicle Power Inverter Market By Type

Regional Outlook

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.

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.
Global Electric Vehicle Power Inverter Market By Key Players

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
Chapter 1 Executive Summary
Chapter 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
Key Segments Covered
By Type
  • Mild Hybrid
  • Full Hybrid
  • Others
By Application
  • House Hold
  • Commercial
  • Others
By 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

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FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request.

Yes, the technology landscape is available on request.

Yes, the report gives the brief introduction of the types of electric vehicle power inverter.

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.

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.

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.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

COVID-19 hampered the automotive industry. This, in turn, is restraining the electric vehicle power inverter market.

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.

Major Manufactures include, Continental, Bosch, Denso, Hitachi, Delphi and Mitsubishi.