Global Vehicle Inverters Market By Technology (Insulated- Gate Bipolar Transistor (IGBT) and Metal-Oxide-Semiconductor Field-Effect Transistor (MOSFET)), Propulsion Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV) and Plug-In Hybrid Electric Vehicle (PHEV)), Semiconductors Materials (Gallium Nitride, Silicon and Silicon Carbide), Vehicle Type (Passenger or Commercial), Output (≤130 KW and >130KW), Country (U.S., Canada, Mexico, Peru, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Vehicle Inverters Market
The vehicle inverters market currently stands at the market value of USD 3.08 billion. The market is expected to continue this growth for the forecast period of 2021-2028 where by 2028; the market value would stand tall by USD 10.3 billion. Thus, analysing the statistics, the global vehicle inverters market will exhibit a CAGR of 16.3% for the forecast period.
Vehicle inverters are the power inverters that are using the power to charge the electrical appliances. The vehicle or the power inverters are most commonly used in RVs or buses. But with the advancement in the technology in passenger cars, vehicle inverters are used in them too. The role of the vehicle inverters is simply not just restricted to charging electrical appliances but also charging the lights, audio system etc. in a vehicle.
The biggest reason for the growth of this market is the demand for vehicles that support the vehicle inverter technology. Moreover, with the rising concerns for the environment, people are shifting to alternate energy vehicle options that are particularly infused with vehicle inverters. Moreover, stringent emission rules by the government have forced the manufacturers to shift the production of vehicles in the direction of electric vehicles. Government is also providing incentives such as tax benefit to the manufacturers in this regard and thus, this is contributing to the growth of the market.
Limited availability of charging stations and infrastructure proves to be hampering the growth of this market. Also, the lack of risk analysing professionals may also demean the growth of this market. Complexities involved in integrating the vehicle inverter with motor or commonly known as converter also act as a restraint to the growth of the market.
This global vehicle inverters market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on vehicle inverters market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Vehicle Inverters Market Scope and Market Size
The vehicle inverters market is segmented on the basis of technology, propulsion type, semiconductors material, vehicle type and output. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- The vehicle inverters market, on the basis of technology, is bifurcated into insulated- gate bipolar transistor (IGBT) and metal-oxide-semiconductor field-effect transistor (MOSFET).
- On the basis of propulsion type, the vehicle inverters market is segmented into battery electric vehicle (BEV), hybrid electric vehicle (HEV) and plug-in hybrid electric vehicle (PHEV).
- The market can also be segmented into gallium nitride, silicon and silicon carbide on the basis of type of semiconductors material.
- Passenger cars and commercial purpose cars are two other segments into which the market is segmented on the basis of vehicle type.
- On the basis of output, the vehicle inverters market is segmented into ≤130 KW and >130KW.
Global Vehicle Inverters Market Country Level Analysis
The vehicle inverters market is analysed and market size insights and trends are provided by country, basis of technology, propulsion type, semiconductors material, vehicle type and output as referenced above.
The countries covered in the vehicle inverters market report are U.S., Canada and Mexico in North America, Peru, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
At present, Asia-Pacific region holds the largest vehicle inverters market share because of the high demand of electric vehicles in this region. Plus, over the year this region has emerged to become the automobile production hub around the globe. Europe on the other hand is expected to show the highest growth rate for the forecast period due to increase in personal income of the individuals and increase in demand for the electric vehicles.
The country section of the vehicle inverters market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Vehicle Inverters Market Share Analysis
The vehicle inverters market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to vehicle inverters market.
The major players covered in the vehicle inverters market report are Siemens, Robert Bosch GmbH, Marelli Corporation, Continental AG, DENSO CORPORATION., HYUNDAI MOBIS., LG Electronics., Hitachi Automotive Systems, Ltd., Valeo, BorgWarner Inc., Fuji Electric Co., Ltd., TOYOTA INDUSTRIES CORPORATION., Metric Mind Corporation, Xantrex LLC., Infineon Technologies AG, Lear Corporation., Aptiv., TROPICOOLINDIA.COM ALL RIGHTS RESERVED., Mobitech Industries LLP. and HBJ Electronic(Distributors Of SERAI Brand) among others. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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