Global Automotive Inverter Market Overview:
Automotive Inverters convert the DC (Direct Current) electric energy into AC (Alternating Current) that is stored in battery and used to power motor to drive electric engines within vehicles. The global effort to reduce carbon emissions and reduce dependence on fossil fuels is increasing the electric vehicle (EV) and hybrid electric vehicle (HEV) markets, thereby increasing more demand components that can support EVs. Government of various countries are offering incentives, subsidies and controls are accelerating this shift to electric mobility which is expected to fuel the growth. In addition, manufacturers are developing inverters that use advanced semiconductor materials such as silicon carbide (SiC) and gallium nitride (GaN) that increase efficiency and performance. Further, preference towards the miniaturization and the integration of converters and electric motors and other mechanical systems are expected to have new opportunities in the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Popularity of Compact and Lightweight Inverters and Growing Need for Multi-Inverter Systems That Can Efficiently Manage Power Distribution to Each Motor
Market Growth Drivers:
Growing Adoption of Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs) and Inclination Towards the Advanced Semiconductor Materials like Silicon Carbide (SiC) and Gallium Nitride (GaN) Due To Its High-Performances
Challenges:
Less Acceptance of Electric Vehicles and Insufficient Charging Infrastructure in Underdeveloped Countries
Restraints:
High Cost of Raw Materials and Disruptions in the Supply Chain
Opportunities:
Incentives, Subsidies, and Tax Benefits by Governments to Promote the Adoption of Electric Vehicles and Growth of Autonomous Vehicles Across the Globe Is Expected To Create Opportunities
Competitive Landscape:
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market.
Some of the key players profiled in the report are Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Mitsubishi Electric Corporation (Japan), Hitachi Automotive Systems (Japan), Delphi Technologies (BorgWarner Inc.) (United States), Valeo (France), Toyota Industries Corporation (Japan), Hyundai Mobis (South Korea), Vitesco Technologies (Germany), Suzhou Inovance Automotive (Inovance) (China), Marelli Europe S.p.A. (Italy) and Zhongshan Broad-Ocean Motor Co Ltd (China). Analyst at AMA Research see European and Asian Vendors to retain maximum share of Global Automotive Inverter market by 2030. Considering Market by Voltage, the sub-segment i.e. Low Voltage will boost the Automotive Inverter market. Considering Market by Cooling Method, the sub-segment i.e. Air-Cooled will boost the Automotive Inverter market. Considering Market by Material Type, the sub-segment i.e. Silicon will boost the Automotive Inverter market.
What Can be Explored with the Automotive Inverter Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automotive Inverter Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automotive Inverter
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Inverter market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automotive Inverter market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Automotive Inverter Manufacturers, Suppliers & Distributors, Automotive Vehicle Manufacturers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.