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GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

Global Electric Vehicle Power Inverter Market by Propulsion Type (Hybrid Electric Vehicle, Plug-in Hybrid Vehicle, Battery Electric Vehicle, Fuel Cell Electric Vehicle) Market by Vehicle Type (Passenger Car, Commercial Vehicle, Other Vehicle Types) Market by Inverter Type (Traction Inverter, Soft Switching Inverter) Market by Distribution Channel (OEM, Aftermarket) Market by Inverter Power (<50 KW, 50-100 KW, 100-200 KW, >200 KW) by Geography

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MARKET OVERVIEW

The global electric vehicle power inverter market is expected to reach $34868.78 million by 2032, growing at a CAGR of 14.36% during the forecast period, 2024-2032. The base year considered for the study is 2023, and the estimated period is between 2024 and 2032. The market study has also analyzed the impact of COVID-19 on the electric vehicle power inverter market qualitatively as well as quantitatively.

Electric vehicle power inverters act as critical components in the electrification of transportation, functioning as the devices responsible for converting direct current (DC) from the vehicle’s battery into alternating current (AC) to drive the electric motor. These power inverters are integral to the vehicle’s performance and efficiency.

As an essential part of the EV drivetrain, power inverters have several types. It can be categorized into two main types, voltage source inverters (VSI) and current source inverters (CSI). VSI regulates output waveform frequency and amplitude, while CSI generates consistent output current used in industrial and renewable energy applications.

Electric Vehicle Power Inverter Market

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GROWTH ENABLERS

Key enablers of the global electric vehicle power inverter market growth are:

  • Rising adoption of electric vehicles
    • The increasing awareness of environmental issues and a growing emphasis on sustainable transportation solutions have fueled the adoption of electric vehicles globally.
    • Inverters play a crucial role in the efficient functioning of electric drivetrains. They are responsible for converting the direct current (DC) power from the vehicle’s battery into alternating current (AC) power that is used to drive the electric motor. This conversion process ensures optimal performance and efficiency, making inverters a vital component in electric vehicles.
    • Whereas supportive government policies, incentives, and regulations aimed at promoting electric mobility contribute to the widespread adoption of electric vehicles. This, in turn, fuels the demand for power inverters.
  • Government initiatives and regulations 
  • Technological advancements in power inverter manufacturing

GROWTH RESTRAINTS

Key market growth restraining factors of the global electric vehicle power inverter market are:

  • Balancing efficiency and affordability of semiconductors in EV power inverters
    • Silicon carbide (SiC) and GaN are essential semiconductors for enhancing the efficiency of power inverters in electric vehicles due to their superior electrical properties and low power losses. However, these semiconductors are costlier and more complex to manufacture than traditional silicon-based semiconductors, leading to increased initial investments in power inverters.
    • The increased cost of materials has a direct impact on the overall affordability of electric cars. Since power inverters are crucial parts of electric car drivetrains, any increase in the price of semiconductor materials needed to make new, more efficient inverters might lead to higher production costs and possibly higher prices for electric vehicles. In order to encourage mass adoption in the competitive electric vehicle market, manufacturers must balance advanced technologies for optimal performance with affordability.
  • Strict implementation of functional safety requirements of inverters

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KEY MARKET TRENDS

Global Electric Vehicle Power Inverter Market | Top Trends

  • As the availability of fuel sources from natural resources diminishes, the need for alternative energy options becomes more important. Technological advancements in electric vehicles are crucial for reducing dependency on fossil fuels and mitigating the environmental impact of transportation. Therefore, the power inverter comes into play as a key component for converting DC power from the vehicle’s battery into AC power for various electric systems.
  • There has been a rise in government assistance for the development of more ecologically friendly and emission-free vehicles. In addition, numerous governments have passed laws and policies to lower automobile emissions and offer financial incentives for the purchase of electric vehicles. The number of electric cars on the road has significantly increased as a result of these initiatives. 
  • Power inverters are upgrading continuously in terms of more power efficiency, better thermal resistance, and improved reliability. Power inverters are also used in hybrid vehicles and fuel cell vehicles, other than battery-electric vehicles, where inverters act as a balance and backup for the continuous running of the vehicle’s electrical systems.

MARKET SEGMENTATION

Market Segmentation Analysis – Propulsion Type, Vehicle Type, Inverter Type, Distribution Channel, and Inverter Power –

Market by Propulsion Type:

  • Hybrid Electric Vehicle
  • Plug-In Electric Vehicle
  • Battery Electric Vehicle
    • Battery electric vehicle is the largest revenue-generating propulsion type.
    • Battery electric vehicles (BEVS) are pure electric vehicles that can only travel on electricity, making power inverters a crucial aspect of their operation. Because BEVs necessitate good power management, power inverter technologies are evolving to increase the overall drivetrain efficiency. The growing market for BEVs is closely related to the growing market for electric vehicle power inverters, creating new opportunities for manufacturers and suppliers.
    • Further, the adoption of BEVs has prompted research and development in power electronics, leading to breakthroughs in semiconductor materials like silicon carbide (SiC) and GaN for improved inverter performance. Also, this facilitates longer commutes and durability. Automakers and manufacturers collaborate extensively to establish a synergistic environment to match power inverter designs with the special needs of BEVs.
  • Fuel Cell Electric Vehicle 

Market by Vehicle Type:

  • Passenger Car
  • Commercial Vehicle
  • Other Vehicle Types

Market by Inverter Type:

  • Traction Inverter
  • Soft Switching Inverter

Market by Distribution Channel:

  • OEM
    • OEM is the fastest-growing distribution channel in the market. 
    • OEMs play a critical role in the seamless integration of power inverters during the electric vehicle manufacturing process. They collaborate with specialized vendors and technology providers to ensure that power inverters are efficiently integrated into the design and assembly of EV drivetrains.
    • Due to their direct involvement in the first stages of integration, original equipment manufacturers (OEMs) have a significant impact on the effectiveness, performance, and dependability of electric vehicles. The choice of power inverter technology and manufacturer decisions play a major role in the overall performance of electric drivetrains. These initiatives align with consumer demands for high-performance, eco-friendly transportation options, positioning OEMs as important players in shaping the direction of electric mobility.
  • Aftertmarket

Market by Inverter Power:

  • <50 kW
  • 50-100 kW
  • 100-200 kW
  • >200 kW

GEOGRAPHICAL STUDY

Geographical Study based on Major Countries:

    • German power inverters for electric cars (EVs) are important in the global industry because of their reputation for high quality and their commitment to technological innovations. Also, renowned automakers like Mercedes-Benz, BMW, and Volkswagen are located in Germany and actively contribute to the growing need for advanced electric drivetrains.
    • Germany’s dominance in this industry is further solidified by the presence of major players in the EV power inverter market, including Robert Bosch Inc, Continental AG, Infineon Technologies, and ZF Friedrichshafen AG. Due to their extensive experience in manufacturing dependable and high-quality power inverters for electric vehicles, these businesses are regarded as trusted entities by both domestic and foreign automakers.
    • Whereas research institutes, industry, and government agencies working together foster the development of inverter technology and ensure it keeps evolving and adapting to new problems.

MAJOR PLAYERS

The major players in the global electric vehicle power inverter market are:

  • Continental AG
  • Robert Bosch GmbH
  • Denso Corporation
  • BorgWarner Inc
  • Valeo Group

Key strategies adopted by some of these companies:

  • In August 2023, Robert Bosch GmbH began manufacturing powertrain solutions based on new 800-volt technology. Silicon carbide semiconductors are used in the construction of the 800-volt version of the inverter. This increases efficiency and range at the same time. The 800-volt version of the electric motor now offers a higher power density. As a result, the design might become smaller and lighter.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments AnalyzedPropulsion Type, Vehicle Type, Inverter Type, Distribution Channel, Inverter Power
Geographies AnalyzedChina, Germany, the United States, Japan, France, South Korea, and Rest of World
Companies Analyzed

Continental AG, Robert Bosch GmbH, DENSO Corporation, Eaton Corporation Plc, BorgWarner Inc, Marelli Corporation, Infineon Technologie, ZF Friedrichshafen AG, Vitesco Technologies Group AG, Valeo Group, Mitsubishi Electric Corporation, Toyota Industries Corporation, LG Magna e-Powertrain, Drive System Design Ltd, Hitachi Astemo Ltd, Sungchang Autotech Co Ltd

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. COUNTRY SNAPSHOT
    3. COUNTRY ANALYSIS
    4. SCOPE OF STUDY
    5. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON ELECTRIC VEHICLE POWER INVERTER MARKET 
    6. MAJOR MARKET FINDINGS
      1. INCREASING EFFICIENCY OF POWER INVERTERS 
      2. OEM INTEGRATION AND COLLABORATION TO DRIVE INNOVATION AND EFFICIENCY 
      3. COMPANIES FOCUSING ON MANUFACTURING EFFICIENT & COST-EFFECTIVE INVERTERS
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. RISING ADOPTION OF ELECTRIC VEHICLES
      2. GOVERNMENT INITIATIVES AND REGULATIONS 
      3. TECHNOLOGICAL ADVANCEMENTS IN POWER INVERTER MANUFACTURING 
    2. KEY RESTRAINTS
      1. BALANCING EFFICIENCY AND AFFORDABILITY OF SEMICONDUCTORS IN EV POWER INVERTERS
      2. STRICT IMPLEMENTATION OF FUNCTIONAL SAFETY REQUIREMENTS OF INVERTERS
  4.  KEY ANALYTICS
    1. KEY TECHNOLOGY TRENDS
      1. GROWING INCORPORATION OF SIC AND GAN IN POWER INVERTERS
      2. RISING FOCUS ON IN-HOUSE PRODUCTION
      3. MULTI-MOTOR CONFIGURATIONS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
    4. MARKET MATURITY ANALYSIS
    5. MARKET CONCENTRATION ANALYSIS
    6. VALUE CHAIN ANALYSIS
      1. RAW MATERIALS/COMPONENT SUPPLIERS
      2. INSTALLATION AND INTEGRATION
      3. PARTNERSHIPS AND COLLABORATIONS
    7. KEY BUYING CRITERIA
      1. BATTERY TYPE AND VOLTAGE
      2. POWER OUTPUT
      3. EFFICIENCY
      4. COST
  5. MARKET BY PROPULSION TYPE
    1. HYBRID ELECTRIC VEHICLE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. PLUG-IN HYBRID VEHICLE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. BATTERY ELECTRIC VEHICLE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. FUEL CELL ELECTRIC VEHICLE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY VEHICLE TYPE
    1. PASSENGER CAR
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. COMMERCIAL VEHICLE
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. OTHER VEHICLE TYPES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. MARKET BY INVERTER TYPE
    1. TRACTION INVERTER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. SOFT SWITCHING INVERTER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  8. MARKET BY DISTRIBUTION CHANNEL
    1. OEM
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. AFTERMARKET
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  9. MARKET BY INVERTER POWER
    1. <50 kW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. 50-100 kW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. 100-200 kW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. >200 KW
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  10. GEOGRAPHICAL ANALYSIS
    1. CHINA
      1. CHINA ELECTRIC VEHICLE POWER INVERTER MARKET SIZE & OPPORTUNITIES
    2. GERMANY
      1. GERMANY ELECTRIC VEHICLE POWER INVERTER MARKET SIZE & OPPORTUNITIES
    3. UNITED STATES
      1. UNITED STATES ELECTRIC VEHICLE POWER INVERTER MARKET SIZE & OPPORTUNITIES
    4. JAPAN
      1. JAPAN ELECTRIC VEHICLE POWER INVERTER MARKET SIZE & OPPORTUNITIES
    5. FRANCE
      1. FRANCE ELECTRIC VEHICLE POWER INVERTER MARKET SIZE & OPPORTUNITIES
    6. SOUTH KOREA
      1. SOUTH KOREA ELECTRIC VEHICLE POWER INVERTER MARKET SIZE & OPPORTUNITIES
    7. REST OF WORLD
      1. REGIONAL ANALYSIS
        1. INDIA
          1. INDIA ELECTRIC VEHICLE POWER INVERTER MARKET ANALYSIS
        2. ITALY
          1. ITALY ELECTRIC VEHICLE POWER INVERTER MARKET ANALYSIS
        3. UNITED KINGDOM
          1. UNITED KINGDOM ELECTRIC VEHICLE POWER INVERTER MARKET ANALYSIS
        4. SPAIN
          1. SPAIN ELECTRIC VEHICLE POWER INVERTER MARKET ANALYSIS
        5. NORWAY
          1. NORWAY ELECTRIC VEHICLE POWER INVERTER MARKET ANALYSIS
        6. SWEDEN
          1. SWEDEN ELECTRIC VEHICLE POWER INVERTER MARKET ANALYSIS
  11. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. CONTINENTAL AG
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      2. ROBERT BOSCH GMBH
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      3. DENSO CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      4. EATON CORPORATION PLC
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      5. BORGWARNER INC
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      6. MARELLI CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      7. INFINEON TECHNOLOGIES
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      8. ZF FRIEDRICHSHAFEN AG
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      9. VITESCO TECHNOLOGIES GROUP AG
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      10. VALEO GROUP
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      11. MITSUBISHI ELECTRIC CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      12. TOYOTA INDUSTRIES CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
      13. LG MAGNA E-POWERTRAIN
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
      14. DRIVE SYSTEM DESIGN LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
      15. HITACHI ASTEMO LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
      16. SUNGCHANG AUTOTECH CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – ELECTRIC VEHICLE POWER INVERTER

TABLE 2: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY PROPULSION TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY PROPULSION TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 4: GLOBAL HYBRID ELECTRIC VEHICLE MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: GLOBAL HYBRID ELECTRIC VEHICLE MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 6: GLOBAL PLUG-IN HYBRID VEHICLE MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: GLOBAL PLUG-IN HYBRID VEHICLE MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 8: GLOBAL BATTERY ELECTRIC VEHICLE MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: GLOBAL BATTERY ELECTRIC VEHICLE MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 10: GLOBAL FUEL CELL ELECTRIC VEHICLE MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 11: GLOBAL FUEL CELL ELECTRIC VEHICLE MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 12: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 13: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 14: GLOBAL PASSENGER CAR MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 15: GLOBAL PASSENGER CAR MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 16: GLOBAL COMMERCIAL VEHICLE MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 17: GLOBAL COMMERCIAL VEHICLE MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 18: GLOBAL OTHER VEHICLE TYPES MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 19: GLOBAL OTHER VEHICLE TYPES MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 20: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY INVERTER TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 21: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY INVERTER TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 22: GLOBAL TRACTION INVERTER MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 23: GLOBAL TRACTION INVERTER MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 24: GLOBAL SOFT SWITCHING INVERTER MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 25: GLOBAL SOFT SWITCHING INVERTER MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 26: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 27: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 28: GLOBAL OEM MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 29: GLOBAL OEM MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 30: GLOBAL AFTERMARKET MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 31: GLOBAL AFTERMARKET MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 32: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY INVERTER POWER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 33: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY INVERTER POWER, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 34: GLOBAL <50 KW MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 35: GLOBAL <50 KW MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 36: GLOBAL 50-100 KW MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 37: GLOBAL 50-100 KW MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 38: GLOBAL 100-200 KW MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 39: GLOBAL 100-200 KW MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 40: GLOBAL >200 KW MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 41: GLOBAL >200 KW MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 42: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 43: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY GEOGRAPHY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 44: LIST OF MERGERS & ACQUISITIONS

TABLE 45: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 46: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 47: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES

FIGURE 1: KEY TECHNOLOGY TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR UNITED STATES

FIGURE 4: GROWTH PROSPECT MAPPING FOR GERMANY

FIGURE 5: GROWTH PROSPECT MAPPING FOR CHINA

FIGURE 6: MARKET MATURITY ANALYSIS

FIGURE 7: MARKET CONCENTRATION ANALYSIS

FIGURE 8: VALUE CHAIN ANALYSIS

FIGURE 9: KEY BUYING CRITERIA

FIGURE 10: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, GROWTH POTENTIAL, BY PROPULSION TYPE, IN 2023

FIGURE 11: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY HYBRID ELECTRIC VEHICLE POWER INVERTER, 2024-2032 (IN $ MILLION)

FIGURE 12: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY PLUG-IN HYBRID VEHICLE, 2024-2032 (IN $ MILLION)

FIGURE 13: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY BATTERY ELECTRIC VEHICLE, 2024-2032 (IN $ MILLION)

FIGURE 14: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY FUEL CELL ELECTRIC VEHICLE, 2024-2032 (IN $ MILLION)

FIGURE 15: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2023

FIGURE 16: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY PASSENGER CAR, 2024-2032 (IN $ MILLION)

FIGURE 17: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY COMMERCIAL VEHICLE, 2024-2032 (IN $ MILLION)

FIGURE 18: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY OTHER VEHICLE TYPES, 2024-2032 (IN $ MILLION)

FIGURE 19: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, GROWTH POTENTIAL, BY INVERTER TYPE, IN 2023

FIGURE 20: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY TRACTION INVERTER, 2024-2032 (IN $ MILLION)

FIGURE 21: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY SOFT SWITCHING INVERTER, 2024-2032 (IN $ MILLION)

FIGURE 22: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2023

FIGURE 23: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY OEM, 2024-2032 (IN $ MILLION)

FIGURE 24: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY AFTERMARKET, 2024-2032 (IN $ MILLION)

FIGURE 25: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, GROWTH POTENTIAL, BY INVERTER POWER, IN 2023

FIGURE 26: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY <50 KW, 2024-2032 (IN $ MILLION)

FIGURE 27: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY 50-100 KW, 2024-2032 (IN $ MILLION)

FIGURE 28: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY 100-200 KW, 2024-2032 (IN $ MILLION)

FIGURE 29: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, BY >200 KW, 2024-2032 (IN $ MILLION)

FIGURE 30: GLOBAL ELECTRIC VEHICLE POWER INVERTER MARKET, REGIONAL OUTLOOK, 2023 & 2032 (IN %)

FIGURE 31: CHINA ELECTRIC VEHICLE POWER INVERTER MARKET, 2024-2032 (IN $ MILLION)

FIGURE 32: GERMANY ELECTRIC VEHICLE POWER INVERTER MARKET, 2024-2032 (IN $ MILLION)

FIGURE 33: UNITED STATES ELECTRIC VEHICLE POWER INVERTER MARKET, 2024-2032 (IN $ MILLION)

FIGURE 34: JAPAN ELECTRIC VEHICLE POWER INVERTER MARKET, 2024-2032 (IN $ MILLION)

FIGURE 35: FRANCE ELECTRIC VEHICLE POWER INVERTER MARKET, 2024-2032 (IN $ MILLION)

FIGURE 36: SOUTH KOREA ELECTRIC VEHICLE POWER INVERTER MARKET, 2024-2032 (IN $ MILLION)

FAQ’s

FAQs

The global electric vehicle power inverter market was valued at $10505.89 million in 2023.

A traction inverter converts the direct current (DC) from the EV’s battery to alternating current (AC), which further runs the electric motor of the EV.

China is the fastest-growing country in the global electric vehicle power inverter market.

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