Market Research Future (MRFR) has published on the “Global Automotive Inverter Market”.
Electric car sales accounted for 9% of the global car market in 2021 – four times their market share in 2019. All the net growth in global car sales in 2021 came from electric cars. Sales were highest in China where they tripled relative to 2020 to 3.3 million after several years of relative stagnation." Electric vehicles in China are often smaller than those manufactured in other regions. This, along with lower development and production costs, has contributed to a narrowing of the price gap with conventional vehicles, making them more appealing. Sales in Europe have continued steady after the 2020 boom. Electric vehicle sales in Europe climbed by around two-thirds year on year. Electric vehicle sales have also climbed dramatically in the US after two years of decline. In 2021, China and Europe accounted for more than 85% of worldwide electric car sales, followed by the US, where sales doubled from the previous year. The electric vehicle market is expected to hold a significant share of the automotive industry by 2030. Hence, the ascending demand for electric-powered vehicles is expected to fuel the global automotive inverters market growth during the forecast period.
Market Research Future (MRFR) has published a cooked research report on the “Global Automotive inverter market” that contains the information from 2019 to 2032. The Automotive inverter market is estimated to register a CAGR of 16.2% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Automotive inverter market— Denso Corporation, Hitachi Automotive Systems, Mitsubishi Electric Corporation, Continental AG, Delphi Technologies, Fuji Electric, Valeo Siemens, Lear Corporation, Sensata Technologies, Inc., and Toyota Industries Corporation.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Inverter Market Technology
The global automotive inverter market is expected to experience impressive growth rate of 16.20% during the forecast period and is estimated to reach USD 11,776.2 million by 2032 end.
Rapid innovation and increased R&D in the inverters industry offer significant opportunities in automotive inverter market.
In the long run, improved power density development is projected to drive the automotive inverter industry. Increased R&D efforts are underway to produce novel semiconductor materials, such as gallium nitride, which are projected to increase usage due to decreased energy and gate losses. The thickness of the whole inverter stack is a second criterion; a design with flat and thin inverter housing is preferred. Smaller structures result in devices with substantially lower distributed capacitance and greater switching frequencies. The third option is to raise the operating temperature. The high-temperature plan aims for the gadget to operate at more than 175°C and, eventually, even higher.
The Global Automotive inverter market is segmented into material, power output, vehicle type, technology, propulsion type.
The global Automotive inverter market, in this report, has been segmented based on Material into Gallium Nitrate, Silicon, Silicon Carbide.
The global Automotive inverter market, in this report, has been segmented on the basis of Power Output into upto 200 KW, 200 KW-300 KW, and 300KW-400 KW.
The automotive inverter market in this report has been segmented on the basis of Propulsion Type into battery electric vehicle and hybrid electric vehicle.
The automotive inverter market in this report has been segmented on the basis of IGBT, MOSFET.
The automotive inverter market in this report has been segmented on the basis of Passenger Car, Commercial Vehicle.
Based on Region, the global Automotive inverter market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
The American wireless broadband ecosystem has grown swiftly, owing mostly to private sector investment and innovation, and the North American market is among the fastest growing market shares. Broadband-enabled health information technology (IT) has the potential to enhance care and reduce costs by hundreds of billions of dollars over the next several decades, but the United States lags behind many industrialized countries in adopting such technology.
The Europe automotive inverter market is expected to witness significant growth due to a rise in industrial development, increasing demand for automotive inverters, and supportive government initiatives for road safety. United Nations Economic Commission for Europe has recorded over 9,500 fatalities in road accidents in which urban areas consist 50% of the fatalities of drivers, and 40% were pedestrians. To deal with this situation European government has joined the United Nations Regulation on Advanced Emergency automotive inverters for vehicles to reduce crashes significantly.
Key Findings of the Study
- The Global Automotive inverter market is expected to reach USD 11,776.2 million by 2032, at a CAGR of 16.2% during the forecast period.
- The Asia Pacific region accounted for the largest regional market.
- Denso Corporation, Hitachi Automotive Systems, Mitsubishi Electric Corporation, Continental AG, Delphi Technologies, Fuji Electric, Valeo Siemens, Lear Corporation, Sensata Technologies, Inc., and Toyota Industries Corporation are the key market players.