Industry Background:
Vehicle inverter converts DC power of the battery into AC power for electric motor. The output which is generated consists of different magnitude and frequency. The vehicle inverter is a combination of power devices and IGBT which is made of silicon materials. Its output power helps in the functioning of consumer electronics such as laptops and mobiles. Vehicle inverter is classified into traction and soft switching inverter. Further, its incorporation in electric vehicles by major players is propelling the market of vehicle inverter.This growth is primarily driven by Stringent Emission Standards across the Globe and Rising Sales of Electric Vehicles is Fueling the Market of Vehicle Invertor.
Globally, a noticeable market trend is evident Combining Invertor with Motor is leading to Rising Attention among the Manufacturers
. Major Manufacturers, such as Continental (Germany), Robert Bosch (Germany), Denso (Japan), Delphi Technologies (United Kingdom), Mitsubishi Electric (Japan), Hitachi (Japan), Valeo (France), Fuji Electric (Japan), Lear Corporation (United States) and Toshiba (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2019, Fuji electric has acquired Peepul capital owned UPS maker Consul Neowatt. This acquisition will provide manufacturing presence in India
In February 2018, Delphi has launched combined inverter in China. This product will create efficient and cost effective solution delivering high power density. It is integrated in smaller and lighter package.
Market Drivers
- Stringent Emission Standards across the Globe
- Rising Sales of Electric Vehicles is Fueling the Market of Vehicle Invertor
Market Trend
- Combining Invertor with Motor is leading to Rising Attention among the Manufacturers
- Adoption of in Wheel Micro Inverter System
Restraints
- Generation of High Current at Initial Stage May Pose a Threat to Big Motors
- Complexities of Integration of Inverters for Powering of Appliances
Opportunities
Government Support for the Production of Electric Vehicle
Challenges
Limited Charging Infrastructure may hamper the Market
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