Market Overview:
The global electric vehicle inverter market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric vehicles across the globe, coupled with government initiatives and subsidies for electric vehicles. Additionally, technological advancements in electric vehicle inverters are also aiding in the growth of this market. The global electric vehicle inverter market is segmented on the basis of type into full hybrids, plug-in hybrids and pure EVs. Among these, plug-in hybrids are expected to witness highest growth during the forecast period owing to their growing popularity among consumers due to their ability to run on both gasoline and electricity. On the basis of application, passenger cars accounted for majority share in 2017 and is expected to maintain its dominance during the forecast period as well.
Product Definition:
An electric vehicle inverter is a device that converts direct current (DC) to alternating current (AC). This is important because most electric vehicles require AC power in order to run. The electric vehicle inverter ensures that the correct voltage and frequency are supplied to the electric vehicle.
Full Hybrids:
Full hybrid electric vehicles (HEV) are a type of vehicle that uses both battery power and IC engines to generate electricity. The full hybrid system works like a partnership between a conventional internal combustion engine powered vehicle and rechargeable battery. In the case of low or no fuel, the IC engine will automatically start, while in normal operation it shares energy with the batteries.
Plug-in Hybrids:
Plug-in hybrid electric vehicles (PHEV) and plug-in hybrid electric vehicle inverter market are driven by increasing demand for fuel economy, stringent emission norms, and government initiatives. PHEVs use a combination of internal combustion engine (ICE) and battery power to propel the vehicle. The PHEV system has an on-board generator that provides electricity to run the conventional ICE as well as rechargeable batteries used in the battery pack.
Application Insights:
Passenger cars application segment led the global electric vehicle inverter market and accounted for more than 63.0% share of the total revenue in 2017. The growing need for passenger cars due to increased disposable income levels, especially in emerging markets such as China and India, is expected to drive the demand over the forecast period.
The commercial vehicles application segment is anticipated to witness a CAGR of XX% from 2018 to 2030 owing to increasing government initiatives on promoting electric vehicles across various regions coupled with rising concerns regarding air pollution and environmental degradation caused by heavy-duty diesel engines, which are being increasingly replaced by electric motors in commercial vehicles applications worldwide.
Commercial vehicle manufacturers including Daimler AG; Ford Motor Company; General Motors Company; Tesla Inc.; Toyota Motor Corporation; Honda Motor Co., Ltd.; Nissan North America Inc.
Regional Analysis:
The Asia Pacific regional market accounted for the largest share of over 55% in 2017. The region is anticipated to witness a CAGR of XX% from 2018 to 2030. China, Japan, and South Korea are some of the countries that have adopted electric vehicles on a large scale owing to strict regulations imposed by various governments regarding carbon emission and other environmental impacts caused by vehicle exhausts. Moreover, these countries offer incentives such as tax breaks or exemptions from registration fees or road taxes for battery-powered vehicles which will further boost the adoption rate in this region. For instance, Norway offers free parking spaces at public garages for EVs as part of its national policy on zero emissions by 2030; U.S.
Europe was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for electric vehicles: The global electric vehicle market is expected to grow at a CAGR of more than 20% during the forecast period. This is mainly due to the increasing awareness about the benefits of electric vehicles over traditional gasoline-powered vehicles, such as lower emissions and fuel costs.
- Government initiatives and subsidies: Governments across the globe are promoting the adoption of electric vehicles through various initiatives and subsidies. For instance, in China, a subsidy of up to ,800 is offered on each new electric vehicle purchase. This is expected to drive the growth of the electric vehicle inverter market during the forecast period.
- Rising demand for renewable energy: The increasing demand for renewable energy sources such as solar and wind power is driving investments in smart grid infrastructure across countries worldwide. Electric vehicle inverters are an important part of smart grids as they help manage peak loads by providing voltage regulation and frequency control services within microgrids or distribution networks .This will spur growth in th eelectric veh icle inverter market during th eforecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Vehicle Inverter Market Research Report
By Type
Full Hybrids, Plug-in Hybrids, Pure EVs
By Application
Passenger Cars, Commercial Vehicles
By Companies
Continental, Bosch, Hitachi Automotive, Toyota Industries, Denso, Delphi, Mitsubishi Electric, Metric mind, Fuji Electric BYD
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
211
Number of Tables & Figures
148
Customization Available
Yes, the report can be customized as per your need.
Global Electric Vehicle Inverter Market Report Segments:
The global Electric Vehicle Inverter market is segmented on the basis of:
Types
Full Hybrids, Plug-in Hybrids, Pure EVs
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Cars, Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Continental
- Bosch
- Hitachi Automotive
- Toyota Industries
- Denso
- Delphi
- Mitsubishi Electric
- Metric mind
- Fuji Electric BYD
Highlights of The Electric Vehicle Inverter Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Full Hybrids
- Plug-in Hybrids
- Pure EVs
- By Application:
- Passenger Cars
- Commercial Vehicles
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Vehicle Inverter Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An electric vehicle inverter is a device that helps convert the direct current (DC) output of an electric car battery into alternating current (AC) to power accessories like lights, radios and climate control.
Some of the key players operating in the electric vehicle inverter market are Continental, Bosch, Hitachi Automotive, Toyota Industries, Denso, Delphi, Mitsubishi Electric, Metric mind, Fuji Electric BYD.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Vehicle Inverter Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Vehicle Inverter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Vehicle Inverter Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric Vehicle Inverter Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric Vehicle Inverter Market Size & Forecast, 2020-2028
4.5.1 Electric Vehicle Inverter Market Size and Y-o-Y Growth
4.5.2 Electric Vehicle Inverter Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Full Hybrids
5.2.2 Plug-in Hybrids
5.2.3 Pure EVs
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Cars
6.2.2 Commercial Vehicles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Vehicle Inverter Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Vehicle Inverter Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Full Hybrids
9.6.2 Plug-in Hybrids
9.6.3 Pure EVs
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Cars
9.10.2 Commercial Vehicles
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Full Hybrids
10.6.2 Plug-in Hybrids
10.6.3 Pure EVs
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Cars
10.10.2 Commercial Vehicles
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Full Hybrids
11.6.2 Plug-in Hybrids
11.6.3 Pure EVs
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Cars
11.10.2 Commercial Vehicles
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Full Hybrids
12.6.2 Plug-in Hybrids
12.6.3 Pure EVs
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Cars
12.10.2 Commercial Vehicles
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Full Hybrids
13.6.2 Plug-in Hybrids
13.6.3 Pure EVs
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Cars
13.10.2 Commercial Vehicles
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Vehicle Inverter Market: Competitive Dashboard
14.2 Global Electric Vehicle Inverter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Continental
14.3.2 Bosch
14.3.3 Hitachi Automotive
14.3.4 Toyota Industries
14.3.5 Denso
14.3.6 Delphi
14.3.7 Mitsubishi Electric
14.3.8 Metric mind
14.3.9 Fuji Electric BYD
