Global Vehicle Inverters Market, By Propulsion Type (BEV, HEV, PHEV), Technology Type (IGBT, MOSFET), Semiconductors Materials Type (Gallium Nitride, Silicon, Silicon Carbide), Output Power (Less than or equal to 130 KW, Greater than 130 KW), Vehicle Type (Passenger Cars, Commercial Vehicles), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Vehicle Inverters Market
Global Vehicle Inverters Market was valued at an estimated USD 2.58 billion in 2018 and this value is expected to grow with a CAGR of 17.45% in the forecast period of 2019-2026, resulting in a projected value of USD 9.34 billion by 2026. This growth of the market value can be attributed to the rise in applications of electrical appliances in the vehicles as well as the significant growth of the electric vehicles industry.
Market Definition: Global Vehicle Inverters Market
Vehicle inverters are a type of converter that changes and helps in utilization of the energy for powering up the electrical appliances such as TV, laptop, power plugs. These inverters find major applications in RV, buses, trucks. With the innovations and modernization, even passenger vehicles come equipped with vehicle inverters, helping the driver and users to power their devices and use the power supply for recreational purposes. Applications of vehicle inverters are not limited to only powering the electronic devices and appliances, as they can power the lighting systems, windows and even audio systems.
- Growth in the adoption and sales of electric vehicles worldwide is expected to act as a driver for the market growth
- Complexities associated with the integration of vehicle inverters into powering of advanced appliances and applications and diminished usage of inverters for necessary energy sources is expected to restrain the market growth
Segmentation: Global Vehicle Inverters Market
- By Propulsion Type
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- By Technology Type
- Insulated-Gate Bipolar Transistor (IGBT)
- Metal-oxide-semiconductor field-effect transistor (MOSFET)
- By Semiconductors Materials Type
- Gallium Nitride
- Silicon Carbide
- By Output Power
- Less than or equal to 130 KW
- Greater than 130 KW
- By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In October 2018, Valeo Siemens eAutomotive; a joint venture of Valeo and Siemens announced the establishment and inauguration of their factory in Changshu, China. The factory capable of producing inverters as well as electric motors on their two production lines, the factory is planned to achieve three inverter lines and eight electric motor lines by 2023.
- In September 2018, Delphi Technologies announced the commercialization and full-scale production of their “Combined Inverter and DC/DC Converter (CIDD)” with the products being delivered to Geely.
Competitive Analysis: Global Vehicle Inverters Market
Global vehicle inverters market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of vehicle inverters market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Vehicle Inverters Market
Few of the major competitors currently working in the vehicle inverters market are Sensata Technologies Inc., Robert Bosch GmbH, Valeo, Calsonic Kansei Corporation, Delphi Technologies, Hitachi Ltd., Continental AG, DENSO CORPORATION, Mitsubishi Electric Corporation, Siemens, Fuji Electric Co. Ltd., TOYOTA INDUSTRIES CORPORATION, Metric Mind Corporation and Xantrex LLC.
Research Methodology: Global Vehicle Inverters Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved