The global electric vehicle power inverter market size is expected to rise at a CAGR of 11% in the forecast period. The growing popularity of electric vehicles and increase in demand for small electric vehicles is expected to trigger market growth in the coming years.
A power inverter is an electrical device that converts AC voltage to DC output and vice versa. The purpose of power inverters depends on the application and end-use. Power inverter is a major component in electric vehicles that converts kinetic energy into potential energy. Commercially, the rising concern of battery failures in electric vehicles has daunted vehicle manufacturers and therefore several methods of optimization are likely to enhance energy consumption in vehicles. The stringent emission standards across the globe, automakers are shifting gradually towards producing electric and hybrid vehicles. Government subsidies in form of tax and bonus payments have encouraged the population to switch towards electric vehicles. Apart, vehicle manufacturers are consistently working towards generating energy efficient products. In this feat, power inverters have gained huge traction and attention among automakers. This has not only led in a sustainable environment but also improves the vehicle quality in terms of space and weight occupancy of the vehicle.
Increasing Demand for Electric Vehicles is Supplementing the Market Growth
The growing demand for electric vehicle is growing rapidly across the world. Due to the growing concerns for environment degradation, the governments across various nations are empowering the use of power inverters to lessen the dependency on exhaustible energies.
In addition, presence of OEMs and aftermarket players are likely to encourage a significant market development. Adoption of technological advancements in power electronics is expected to supplement the market growth in the coming years. The rise in incorporation of electric motors and inverters in electric vehicles is anticipated to boost the market growth in the forecast period.
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Power fluctuation in electric motors due to generation of opposite polarities poses a big threat to motors used in the heavy commercial vehicles. Also, power failure and power fuse are some of genuine concerns faced by end-users. Therefore, this is expected to restrain the market development in the forecast period.
As the trend of automation is growing all across the world, the demand for E-mobility services is likely to strengthen in the coming years. It is also predicted, by 2040 more than 60% car sales and global fleet will be electric. Therefore, EU countries have already begun to set target and expectations to create a charging infrastructure across European regions.
The segmentation for electric vehicle power inverter market is based on propulsion type, and vehicle type.
Propulsion Type Insights:
Battery Electric Vehicle to Retain a High Share
Propulsion type is categorized as plug-in hybrid vehicle, and battery electric vehicle. The battery electric vehicle is expected to hold a significant share and retain a dominant position in the global market. Manufacturers are emphasizing on producing user friendly vehicles that are pretty low in maintenance and incur low expense for any fixes.
Vehicle Type Insights:
Commercial Vehicles to Account For a Significant Share
Vehicle type is further categorized as commercial and passenger cars. Commercial vehicles have gained a high share in the global market attributing to the rise in pollution and growing concerns for vehicle maintenance in the commercial space.
Based on regional segmentation, the electric vehicle power inverter market comprises North America, South America, Europe, Asia Pacific, Middle-East, and Africa.
Asia Pacific is the Leading Market for Electric Vehicle
The Asia Pacific market for electric vehicle power inverters is anticipated to remain dominant in the forecast period attributing to the presence of key players and rapid growth in the regional markets. China is the leading region for electric components and accounts for 60% of the market in Asia Pacific. High production cycle, strong consumer base, and technological availability are some of the major growth factors.
Europe is the fast growing market for electric vehicle power inverter attributing to the significance of electric vehicles and growing commercial aspect of electric motors. Moreover, the government norms and regulations are likely to encourage the market growth in Europe.
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Some of the key players mentioned in the electric vehicle power inverter market report include Continental AG, DENSO Corporation, Mitsubishi Electric Corporation, Calsonic Kansei Corporation, and Robert Bosch GmbH. The key players are adopting mergers and acquisitions, strategic partnerships, and mutual collaborations to expand in geographical markets. For instance, Mitsubishi Electric Corporation declared that it has accomplished the construction of new plants by investing around 62 Billion that is capable of producing generators, motors and spare equipment for hybrid and electric vehicles.
1 Report Overview
1.1 Electric Vehicle Power Inverter Research Scope
1.2 Market Segment by Type
1.2.1 Global Electric Vehicle Power Inverter Market Size Growth Rate by Type
1.2.2 Mild Hybrids
1.2.3 Full Hybrids
1.2.4 Plug-in Hybrids
1.2.5 Pure EVs
1.2.6 Commercial (H)EVs
1.3 Market Segment by Application
1.3.1 Global Electric Vehicle Power Inverter Market Size Growth Rate by Application
1.3.2 Household
1.3.3 Commercial
1.4 Study Objectives
1.5 Years Considered
2 Global Market Production
2.1 Global Electric Vehicle Power Inverter Production Capacity (2017-2027)
2.2 Global Electric Vehicle Power Inverter Production by Region: 2017 VS 2021 VS 2027
2.3 Global Electric Vehicle Power Inverter Production by Region
2.3.1 Global Electric Vehicle Power Inverter Historic Production by Region (2017-2020)
2.3.2 Global Electric Vehicle Power Inverter Forecasted Production by Region (2021-2027)
2.3.3 North America
2.3.4 Europe
2.3.5 Japan
2.3.6 China
2.3.7 South Korea
2.3.8 India
2.4 Industry Trends
2.4.1 Electric Vehicle Power Inverter Industry Trends
2.4.2 Electric Vehicle Power Inverter Market Drivers
2.4.3 Electric Vehicle Power Inverter Market Challenges
2.4.4 Electric Vehicle Power Inverter Market Restraints
3 Global Electric Vehicle Power Inverter Sales
3.1 Global Electric Vehicle Power Inverter Sales Estimates and Forecasts 2017-2027
3.2 Global Electric Vehicle Power Inverter Revenue Estimates and Forecasts 2017-2027
3.3 Global Electric Vehicle Power Inverter Revenue by Region: 2017 VS 2021 VS 2027
3.4 Global Top Electric Vehicle Power Inverter Regions by Sales
3.4.1 Global Top Electric Vehicle Power Inverter Regions by Sales (2017-2020)
3.4.2 Global Top Electric Vehicle Power Inverter Regions by Sales (2021-2027)
3.5 Global Top Electric Vehicle Power Inverter Regions by Revenue
3.5.1 Global Top Electric Vehicle Power Inverter Regions by Revenue (2017-2020)
3.5.2 Global Top Electric Vehicle Power Inverter Regions by Revenue (2021-2027)
3.5.3 North America
3.5.4 Europe
3.5.5 Asia-Pacific
3.5.6 Latin America
3.5.7 Middle East & Africa
4 Competition by Manufacturers
4.1 Global Electric Vehicle Power Inverter Production Capacity by Manufacturers
4.2 Global Electric Vehicle Power Inverter Sales by Manufacturers
4.2.1 Global Top Electric Vehicle Power Inverter Manufacturers by Sales (2017-2020)
4.2.2 Global Top Electric Vehicle Power Inverter Manufacturers Market Share by Sales (2017-2020)
4.2.3 Global Top 10 and Top 5 Companies by Electric Vehicle Power Inverter Sales in 2020
4.3 Global Electric Vehicle Power Inverter Revenue by Manufacturers
4.3.1 Global Top Electric Vehicle Power Inverter Manufacturers by Revenue (2017-2020)
4.3.2 Global Top Electric Vehicle Power Inverter Manufacturers Market Share by Revenue (2017-2020)
4.3.3 Global Top 10 and Top 5 Companies by Electric Vehicle Power Inverter Revenue in 2020
4.4 Global Electric Vehicle Power Inverter Sales Price by Manufacturers
4.5 Analysis of Competitive Landscape
4.5.1 Manufacturers Market Concentration Ratio (CR5 and HHI)
4.5.2 Global Electric Vehicle Power Inverter Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
4.5.3 Global Electric Vehicle Power Inverter Manufacturers Geographical Distribution
4.6 Mergers & Acquisitions, Expansion Plans
5 Estimates and Forecasts by Type
5.1 Global Electric Vehicle Power Inverter Sales by Type
5.1.1 Global Electric Vehicle Power Inverter Historical Sales by Type (2017-2020)
5.1.2 Global Electric Vehicle Power Inverter Forecasted Sales by Type (2021-2027)
5.1.3 Global Electric Vehicle Power Inverter Sales Market Share by Type (2017-2027)
5.2 Global Electric Vehicle Power Inverter Revenue by Type
5.2.1 Global Electric Vehicle Power Inverter Historical Revenue by Type (2017-2020)
5.2.2 Global Electric Vehicle Power Inverter Forecasted Revenue by Type (2021-2027)
5.2.3 Global Electric Vehicle Power Inverter Revenue Market Share by Type (2017-2027)
5.3 Global Electric Vehicle Power Inverter Price by Type
5.3.1 Global Electric Vehicle Power Inverter Price by Type (2017-2020)
5.3.2 Global Electric Vehicle Power Inverter Price Forecast by Type (2021-2027)
6 Market Size by Application
6.1 Global Electric Vehicle Power Inverter Sales by Application
6.1.1 Global Electric Vehicle Power Inverter Historical Sales by Application (2017-2020)
6.1.2 Global Electric Vehicle Power Inverter Forecasted Sales by Application (2021-2027)
6.1.3 Global Electric Vehicle Power Inverter Sales Market Share by Application (2017-2027)
6.2 Global Electric Vehicle Power Inverter Revenue by Application
6.2.1 Global Electric Vehicle Power Inverter Historical Revenue by Application (2017-2020)
6.2.2 Global Electric Vehicle Power Inverter Forecasted Revenue by Application (2021-2027)
6.2.3 Global Electric Vehicle Power Inverter Revenue Market Share by Application (2017-2027)
6.3 Global Electric Vehicle Power Inverter Price by Application
6.3.1 Global Electric Vehicle Power Inverter Price by Application (2017-2020)
6.3.2 Global Electric Vehicle Power Inverter Price Forecast by Application (2021-2027)
7 North America
7.1 North America Electric Vehicle Power Inverter Sales Breakdown by Company
7.1.1 North America Electric Vehicle Power Inverter Sales by Company (2017-2020)
7.1.2 North America Electric Vehicle Power Inverter Revenue by Company (2017-2020)
7.2 North America Electric Vehicle Power Inverter Market Size by Type
7.2.1 North America Electric Vehicle Power Inverter Sales by Type (2017-2027)
7.2.2 North America Electric Vehicle Power Inverter Revenue by Type (2017-2027)
7.3 North America Electric Vehicle Power Inverter Market Size by Application
7.3.1 North America Electric Vehicle Power Inverter Sales by Application (2017-2027)
7.3.2 North America Electric Vehicle Power Inverter Revenue by Application (2017-2027)
7.4 North America Electric Vehicle Power Inverter Market Size by Country
7.4.1 North America Electric Vehicle Power Inverter Sales by Country (2017-2027)
7.4.2 North America Electric Vehicle Power Inverter Revenue by Country (2017-2027)
7.4.3 U.S.
7.4.4 Canada
8 Europe
8.1 Europe Electric Vehicle Power Inverter Sales Breakdown by Company
8.1.1 Europe Electric Vehicle Power Inverter Sales by Company (2017-2020)
8.1.2 Europe Electric Vehicle Power Inverter Revenue by Company (2017-2020)
8.2 Europe Electric Vehicle Power Inverter Market Size by Type
8.2.1 Europe Electric Vehicle Power Inverter Sales by Type (2017-2027)
8.2.2 Europe Electric Vehicle Power Inverter Revenue by Type (2017-2027)
8.3 Europe Electric Vehicle Power Inverter Market Size by Application
8.3.1 Europe Electric Vehicle Power Inverter Sales by Application (2017-2027)
8.3.2 Europe Electric Vehicle Power Inverter Revenue by Application (2017-2027)
8.4 Europe Electric Vehicle Power Inverter Market Size by Country
8.4.1 Europe Electric Vehicle Power Inverter Sales by Country (2017-2027)
8.4.2 Europe Electric Vehicle Power Inverter Revenue by Country (2017-2027)
8.4.3 Germany
8.4.4 France
8.4.5 U.K.
8.4.6 Italy
8.4.7 Russia
9 Asia Pacific
9.1 Asia Pacific Electric Vehicle Power Inverter Sales Breakdown by Company
9.1.1 Asia Pacific Electric Vehicle Power Inverter Sales by Company (2017-2020)
9.1.2 Asia Pacific Electric Vehicle Power Inverter Revenue by Company (2017-2020)
9.2 Asia Pacific Electric Vehicle Power Inverter Market Size by Type
9.2.1 Asia Pacific Electric Vehicle Power Inverter Sales by Type (2017-2027)
9.2.2 Asia Pacific Electric Vehicle Power Inverter Revenue by Type (2017-2027)
9.3 Asia Pacific Electric Vehicle Power Inverter Market Size by Application
9.3.1 Asia Pacific Electric Vehicle Power Inverter Sales by Application (2017-2027)
9.3.2 Asia Pacific Electric Vehicle Power Inverter Revenue by Application (2017-2027)
9.4 Asia Pacific Electric Vehicle Power Inverter Market Size by Region
9.4.1 Asia Pacific Electric Vehicle Power Inverter Sales by Region (2017-2027)
9.4.2 Asia Pacific Electric Vehicle Power Inverter Revenue by Region (2017-2027)
9.4.3 China
9.4.4 Japan
9.4.5 South Korea
9.4.6 India
9.4.7 Australia
9.4.8 Taiwan
9.4.9 Indonesia
9.4.10 Thailand
9.4.11 Malaysia
9.4.12 Philippines
10 Latin America
10.1 Latin America Electric Vehicle Power Inverter Sales Breakdown by Company
10.1.1 Latin America Electric Vehicle Power Inverter Sales by Company (2017-2020)
10.1.2 Latin America Electric Vehicle Power Inverter Revenue by Company (2017-2020)
10.2 Latin America Electric Vehicle Power Inverter Market Size by Type
10.2.1 Latin America Electric Vehicle Power Inverter Sales by Type (2017-2027)
10.2.2 Latin America Electric Vehicle Power Inverter Revenue by Type (2017-2027)
10.3 Latin America Electric Vehicle Power Inverter Market Size by Application
10.3.1 Latin America Electric Vehicle Power Inverter Sales by Application (2017-2027)
10.3.2 Latin America Electric Vehicle Power Inverter Revenue by Application (2017-2027)
10.4 Latin America Electric Vehicle Power Inverter Market Size by Country
10.4.1 Latin America Electric Vehicle Power Inverter Sales by Country (2017-2027)
10.4.2 Latin America Electric Vehicle Power Inverter Revenue by Country (2017-2027)
10.4.3 Mexico
10.4.4 Brazil
10.4.5 Argentina
11 Middle East and Africa
11.1 Middle East and Africa Electric Vehicle Power Inverter Sales Breakdown by Company
11.1.1 Middle East and Africa Electric Vehicle Power Inverter Sales by Company (2017-2020)
11.1.2 Middle East and Africa Electric Vehicle Power Inverter Revenue by Company (2017-2020)
11.2 Middle East and Africa Electric Vehicle Power Inverter Market Size by Type
11.2.1 Middle East and Africa Electric Vehicle Power Inverter Sales by Type (2017-2027)
11.2.2 Middle East and Africa Electric Vehicle Power Inverter Revenue by Type (2017-2027)
11.3 Middle East and Africa Electric Vehicle Power Inverter Market Size by Application
11.3.1 Middle East and Africa Electric Vehicle Power Inverter Sales by Application (2017-2027)
11.3.2 Middle East and Africa Electric Vehicle Power Inverter Revenue by Application (2017-2027)
11.4 Middle East and Africa Electric Vehicle Power Inverter Market Size by Country
11.4.1 Middle East and Africa Electric Vehicle Power Inverter Sales by Country (2017-2027)
11.4.2 Middle East and Africa Electric Vehicle Power Inverter Revenue by Country (2017-2027)
11.4.3 Turkey
11.4.4 Saudi Arabia
11.4.5 UAE
12 Company Profiles
12.1 Continental
12.1.1 Continental Corporation Information
12.1.2 Continental Overview
12.1.3 Continental Electric Vehicle Power Inverter Sales, Revenue, Price and Gross Margin (2017-2020)
12.1.4 Continental Electric Vehicle Power Inverter Products and Services
12.1.5 Continental Electric Vehicle Power Inverter SWOT Analysis
12.1.6 Continental Recent Developments
12.2 Bosch
12.2.1 Bosch Corporation Information
12.2.2 Bosch Overview
12.2.3 Bosch Electric Vehicle Power Inverter Sales, Revenue, Price and Gross Margin (2017-2020)
12.2.4 Bosch Electric Vehicle Power Inverter Products and Services
12.2.5 Bosch Electric Vehicle Power Inverter SWOT Analysis
12.2.6 Bosch Recent Developments
12.3 Hitachi Automotive
12.3.1 Hitachi Automotive Corporation Information
12.3.2 Hitachi Automotive Overview
12.3.3 Hitachi Automotive Electric Vehicle Power Inverter Sales, Revenue, Price and Gross Margin (2017-2020)
12.3.4 Hitachi Automotive Electric Vehicle Power Inverter Products and Services
12.3.5 Hitachi Automotive Electric Vehicle Power Inverter SWOT Analysis
12.3.6 Hitachi Automotive Recent Developments
12.4 Toyota Industries
12.4.1 Toyota Industries Corporation Information
12.4.2 Toyota Industries Overview
12.4.3 Toyota Industries Electric Vehicle Power Inverter Sales, Revenue, Price and Gross Margin (2017-2020)
12.4.4 Toyota Industries Electric Vehicle Power Inverter Products and Services
12.4.5 Toyota Industries Electric Vehicle Power Inverter SWOT Analysis
12.4.6 Toyota Industries Recent Developments
12.5 Denso
12.5.1 Denso Corporation Information
12.5.2 Denso Overview
12.5.3 Denso Electric Vehicle Power Inverter Sales, Revenue, Price and Gross Margin (2017-2020)
12.5.4 Denso Electric Vehicle Power Inverter Products and Services
12.5.5 Denso Electric Vehicle Power Inverter SWOT Analysis
12.5.6 Denso Recent Developments
12.6 Delphi
12.6.1 Delphi Corporation Information
12.6.2 Delphi Overview
12.6.3 Delphi Electric Vehicle Power Inverter Sales, Revenue, Price and Gross Margin (2017-2020)
12.6.4 Delphi Electric Vehicle Power Inverter Products and Services
12.6.5 Delphi Electric Vehicle Power Inverter SWOT Analysis
12.6.6 Delphi Recent Developments
12.7 Mitsubishi Electric
12.7.1 Mitsubishi Electric Corporation Information
12.7.2 Mitsubishi Electric Overview
12.7.3 Mitsubishi Electric Electric Vehicle Power Inverter Sales, Revenue, Price and Gross Margin (2017-2020)
12.7.4 Mitsubishi Electric Electric Vehicle Power Inverter Products and Services
12.7.5 Mitsubishi Electric Electric Vehicle Power Inverter SWOT Analysis
12.7.6 Mitsubishi Electric Recent Developments
12.8 Metric mind
12.8.1 Metric mind Corporation Information
12.8.2 Metric mind Overview
12.8.3 Metric mind Electric Vehicle Power Inverter Sales, Revenue, Price and Gross Margin (2017-2020)
12.8.4 Metric mind Electric Vehicle Power Inverter Products and Services
12.8.5 Metric mind Electric Vehicle Power Inverter SWOT Analysis
12.8.6 Metric mind Recent Developments
12.9 Fuji Electric BYD
12.9.1 Fuji Electric BYD Corporation Information
12.9.2 Fuji Electric BYD Overview
12.9.3 Fuji Electric BYD Electric Vehicle Power Inverter Sales, Revenue, Price and Gross Margin (2017-2020)
12.9.4 Fuji Electric BYD Electric Vehicle Power Inverter Products and Services
12.9.5 Fuji Electric BYD Electric Vehicle Power Inverter SWOT Analysis
12.9.6 Fuji Electric BYD Recent Developments
13 Value Chain and Sales Channels Analysis
13.1 Electric Vehicle Power Inverter Value Chain Analysis
13.2 Electric Vehicle Power Inverter Key Raw Materials
13.2.1 Key Raw Materials
13.2.2 Raw Materials Key Suppliers
13.3 Electric Vehicle Power Inverter Production Mode & Process
13.4 Electric Vehicle Power Inverter Sales and Marketing
13.4.1 Electric Vehicle Power Inverter Sales Channels
13.4.2 Electric Vehicle Power Inverter Distributors
13.5 Electric Vehicle Power Inverter Customers
14 Key Findings
15 Appendix
15.1 Research Methodology
15.1.1 Methodology/Research Approach
15.1.2 Data Source
15.2 Author Details
15.3 Disclaimer
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