Press Release: Global electric vehicle power inverter market

The improved investment is driving the electric vehicle power inverter market.

The Electric Vehicle market is expanding and will most likely accelerate further over the forecast period. This is due to the fact that most vehicle manufacturers and related industries see electric vehicles as an investment opportunity. This expansion is propelling the electric vehicle and charging station markets. China is the most promising market for electric buses globally, and it will most likely drive e-bus demand during the forecast period. The country’s overall bus purchases are expected to remain stable, with more than 400,312 new purchases anticipated by 2025. Electric bus sales are expected to increase as a result of ongoing government initiatives to promote e-mobility. Global adoption of e-buses is expected to account for 40% of all new bus purchases by 2040.

The insufficient infrastructure for electric vehicles is expected to hamper the electric vehicle power inverter market growth.

The adoption of electric vehicles requires a robust EV charging infrastructure. Despite their environmental and economic benefits, electric vehicles have yet to enter the mainstream. The electric vehicle industry needs more charging stations. The lack of sufficient charging stations slows the growth of electric vehicles, making it difficult for the electric vehicle power inverter market to thrive. As a result, electric vehicle production and acceptance suffer, hampering the growth of the EV power inverter market. As a result, such misalignment between charging demand and infrastructure allocation discourages the production of electric vehicles and stifles market growth.

Explore 188 market data Tables spread through nearly 125 Pages and in-depth analysis on “Electric Vehicle Power Inverter Market by Propulsion Type (Hybrid Vehicle, Plug in Hybrid Vehicle, Battery Electric Vehicle, Fuel Cell Electric Vehicle), Vehicle Type (Passenger Vehicle and Commercial Vehicle), Inverter Type (Traction Inverter and Soft Switching Inverter), Integration Level (Integrated Inverter System, Mechatronic Integration System, Separate Inverter System) and Region, Global Trends and Forecast from 2022 to 2029” With Table of Contents

The development of innovative technology will create opportunities for electric vehicle power inverter market.

Increasing consumer spending on electric vehicles is expected to open up new opportunities for players in the global electric vehicle power inverter market during the forecast period. Consumer spending on electric vehicles is increasing around the world as consumer awareness of green vehicles grows, providing manufacturers of EV parts with significant opportunities. For example, overall spending on electric vehicles increased by 50% from 2019 to USD 120 billion in 2020. Growing technological advancement in electric vehicle power inverters is also expected to create a profitable environment for market growth opportunities.

The COVID-19 epidemic had a mixed influence on electric vehicle power inverter.

The COVID-19 pandemic had mixed impact on the market for electric vehicle power inverters. On the one hand, the market has been impacted by a disruption in the global supply chain, which has resulted in delays in component production and delivery. On the other hand, the pandemic has increased demand for electric vehicles as people seek more environmentally friendly and socially responsible modes of transportation. As more companies invest in the development of electric vehicle technologies, this has created new opportunities for the electric vehicle power inverter market. Overall, the long-term outlook for the electric vehicle power inverter market is optimistic, as the transition to electric mobility is expected to continue in the post-pandemic world.

Passenger vehicles segment held the largest market share of electric vehicle power inverter market.

In 2021, passenger vehicles will have the largest market share. In an electric powertrain, the inverter regulates the electric motor. This inverter, like the engine management system (EMS) in combustion cars, is a critical component in the automobile as it regulates the efficiency of the vehicle.

Traction inverter segment had a higher revenue share of electric vehicle power inverter market in terms of inverter.

The traction inverter segment had the highest revenue share of the electric vehicle power inverter market in 2021. The traction inverter’s function is to convert the DC current from an electric car’s battery into AC current, which can then be used to power the electric motor that powers the car’s propulsion system.

Asia-Pacific dominates the market.

With the largest market share in 2021, Asia-Pacific has dominated the market. China is a major player in the global electric vehicle industry. Furthermore, the Chinese government is encouraging citizens to drive electric vehicles. The Chinese electric passenger vehicle market is also among the world’s largest, and it has been rapidly expanding in recent years. It is expected to rise throughout the forecast period, influencing demand for electric vehicle power inverters as electric vehicle demand rises. The primary factors expected to drive up demand for electric car power inverters in China are an increase in vehicle manufacturing for export to other countries and an increase in electric mobility adoption.

Key Players

key players include Vitesco Technologies, Robert Bosch GmbH, DENSO Corporation, Toyota Industries Corporation, Hitachi Astemo Ltd, Meidensha Corporation, Aptiv PLC (Borgwarner Inc.), Mitsubishi Electric Corporation, Marelli Corporation, Valeo Group, Lear Corporation, Infineon Technologies AG, Eaton Corporation, and others.

Key Market Segments:

By Propulsion Type, 2020-2029, (Usd Billion, Thousand Units)

• Hybrid Vehicle
• Plug In Hybrid Vehicle
• Battery Electric Vehicle
• Fuel Cell Electric Vehicle

By Vehicle Type, 2020-2029, (Usd Billion, Thousand Units)

• Passenger Vehicle
• Commercial Vehicle

By Inverter Type, 2020-2029, (Usd Billion, Thousand Units)

• Traction Inverter
• Soft Switching Vehicle

By End-User, 2020-2029, (Usd Billion, Thousand Units)

• Integrated Inverter System
• Mechatronic Integrated System
• Separate Inverter System

By Region, 2020-2029, (Usd Billion, Thousand Units)

• North America
• Asia Pacific
• Europe
• South America
• Middle East And Africa

IMPORTANT COUNTRIES IN ALL REGIONS ARE COVERED.

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