Vehicle Inverter Market Driver Analysis and Dynamics Forecast by 2019-2026
Vehicle Inverter Market Outlook – 2026
Inverter is an electronic circuit that changes Direct Current (DC) into Alternating Current (AC). Vehicle inverters convert the DC power stored in the vehicle battery to AC power, which can be used to run various devices based on comfort and features, to power lighting systems, windows, and even audio systems. Modern vehicles are evolving into more complex machines with the rising integration of various devices and appliances such as TV, laptop, and power plugs for recreational and entertainment activities while traveling, especially during long journeys. All these devices and appliances run on AC. while the vehicles battery runs on DC. Government regulations toward reducing carbon emissions and rising adoption and increasing sale of electric vehicle are the drivers for the growth of the vehicle inverter market.
Trends like in-wheel micro inverter system and increase in incorporation of inverters operating on AC power in electric vehicles is expected to boost the vehicle inverter market during the forecast period. For Instance, in February 2018, Delphi Technologies, PLC introduced the first combined inverter and DC/DC converter (CIDD). For automotive manufacturers, these components create a more efficient and cost-effective solution that can deliver higher power density integrated into a smaller and lighter package. In January 2018, Delphi Technologies PLC invested in a start-up called PolyCharge America, Inc., to commercialize a new capacitor technology. With this tie up, the developed technology will help to manufacture high-power inverters that are smaller, lighter, and more tolerant to high temperatures.
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The increase in technological advancements in the field of power electronic, government regulations related to carbon emission, growing adoption and sales of electric vehicles worldwide, increase in the integration of electronic devices in vehicles, rise in the use of various handheld and household devices, navigation devices, and smartphones in vehicles are expected to drive the vehicle inverter market. In addition, development of high-power density inverters, demand for combined inverter and DC/DC converter provide opportunities for the growth of the global vehicle inverter market. However, overall complexities involved in integration of vehicle inverters, depreciating usage of inverters for necessary energy sources, functional safety concerns, and more space utilization by inverters lead to increase in the overall weight of a vehicle, thus, act as restrain for the market growth.
The major companies profiled in the global Vehicle Inverter Market share include Denso (Japan), Delphi Technologies (UK), Continental AG (Germany), Robert Bosch GmbH (Germany), and Mitsubishi Electric Corporation (Japan), Continental AG, Robert Bosch GmbH, Hitachi Automotive Systems, Ltd., TOYOTA INDUSTRIES CORPORATION, Infineon Technologies AG., and others. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
The vehicle inverter market is segmented into propulsion type, output power type, technology, semiconductor material type, vehicle type, and region. By propulsion type, it is categorized into BEV, HEV, and PHEV. On the basis of output power type, it is classified into 130 kW. By technology market is bifurcated into IGBT and MOSFET. On the basis of semiconductor material type, it is classified into GaN, Si, and SiC. By vehicle type, it is divided into PC and CV. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the vehicle inverter market with current trends and future estimations to depict the imminent investment pockets.
- The overall potential is determined to understand the profitable trends to gain a stronger foothold in the vehicle inverter industry.
- The market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current vehicle inverter market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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VEHICLE INVERTER MARKET KEY SEGMENTS
By Propulsion Type
By Output Power Type
- >130 kW
By Semiconductor Material Type
By Vehicle Type
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