The Vehicle Inverters Market is projected to register stable growth during the forecast period owing to increasing demand from the automotive manufacturers and growing aftermarket. This market has witnessed many developments by companies to strengthen their market share in the region. Some of the major developments witnessed in this market include new product development, expansions, partnerships and collaborations in recent years. Also, government policies to boost the automotive sector and related markets are expected to drive the demand during the forecast period. The automotive sector has witnessed a transition towards the use of alternative energy sources with lightweight operations and high efficiency in recent years. This has impacted the established market in regions including North America, Western Europe, Asia Pacific, and so on. Also, concerns over automotive emissions and related norms are expected to have a significant share of impact on the automotive sector as well as vehicle inverters market during the forecast period.

Segment Analysis

The market is segmented into propulsion, technology type, output power type, material, and vehicle type.
Based on the propulsion, the market is segmented as BEV, HEV, BHEV. The BEV segment is anticipated to be the highest growing segment. This is due to the increased purchasing power of consumers and the rising demand for eco-friendly vehicles in developing and developed countries. The governments are also issuing stricter mandates for emission control, which has given rise to these vehicles.

On the basis of the technology type, the market is bifurcated IGBT, MOSFET. The IGBT vehicle inverters are the largest segment among the others. It is a three-terminal switch, gate, collector and emitter. This inverter type can resist high voltage and has a higher capacity which makes it suitable for the latest electric vehicles. The demand for these inverters is growing as the electric vehicles need high power efficiency and a speedier switching capability.
On the basis of the material, the market is segmented as GaN, Si, SiC.

Based on the vehicle type, the market is bifurcated into commercial vehicles and passenger cars. The use of commercial vehicles has been increasing at a significant rate. These are utilized for providing driver comfort and safety thereby increasing the durability of the vehicles. Several devices are being used by vehicle drivers like the television, chargers, and handheld devices which are increasing the demand for commercial vehicles. 

The Asia Pacific region is leading the market for vehicle inverters, due to the presence of the leading market players in this region. It is also because the purchasing power of consumers has increased thereby increasing the demand for automobiles. The increased production of vehicles and the availability of cheap labor offers various opportunities to the manufacturers.

Key Factors Impacting Market Growth:
    • Increasing demand for electric vehicles
    • Growing demand for reduction of carbon emissions

Regional Outlook 

The regional outlook section for the vehicle inverters market provides the region-wise market estimations and forecasts along with related market dynamics. Also, this section provides information about scenarios in major segments including country, type, applications, and others in vehicle inverters market for a particular region. Major regions considered in the study include North America, Western Europe, Asia Pacific, Middle East, Eastern Europe, and Rest of the World. The automotive sector has witnessed steady growth in the recent years owing to market recovery from recent slowdowns as well as technological transitions with regards to vehicle technology. North America and Western Europe have been established markets for the automotive sector with the presence of major companies operating in the market along with comparatively short product life cycles. Also, being early adopters of the latest technologies, these regions have been witnessing major technology transitions towards green fuels and related infrastructure. Major countries in these regions include the US, Germany, France, UK, Italy, Canada, Spain, and others. Asia Pacific region is expected to register the fastest growth during the forecast period owing to the presence of key emerging economies with substantial market demand. Some of the major economies in the region include China,  India, South Korea, Japan, and so on. Major companies operating in the market have made strategic developments to cater to the market demand in the region as well as increase the market presence. Middle East and Eastern Europe are estimated to be potential markets for vehicle inverters with growing demand from countries including the UAE. Saudi Arabia, Qatar, Russia, and Turkey. The rest of the World consisting of South America and Africa is estimated to be an emerging region for vehicle inverters market with high demand from countries including Brazil, South Africa, Argentina, and so on.

Companies Covered: Continental AG, Robert Bosch GmbH, Denso, Delphi Technologies, and Mitsubishi Electric Corporation.

Market Segmentation:

By Propulsion:
    • BEV
    • HEV
    • PHEV

By Technology Type:
    • IGBT
    • MOSFET

By Material:
    • GaN
    • Si
    • SiC

By Vehicle Type:
    • Commercial Vehicles
    • Passenger Cars

By Region:

    • North America
        ◦ By Country (US, Canada, Mexico)
        ◦ By Propulsion
        ◦ By Technology Type
        ◦ By Material
        ◦ By Vehicle Type

    • Western Europe
        ◦ By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe) 
        ◦ By Propulsion
        ◦ By Technology Type
        ◦ By Material
        ◦ By Vehicle Type 

    • Eastern Europe
        ◦ By Country (Russia, Turkey, Rest of Eastern Europe) 
        ◦ By Propulsion
        ◦ By Technology Type
        ◦ By Material
        ◦ By Vehicle Type

    • Asia Pacific
        ◦ By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific) 
        ◦ By Propulsion
        ◦ By Technology Type
        ◦ By Material
        ◦ By Vehicle Type

  • Middle East 
        ◦ By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East) 
        ◦ By Propulsion
        ◦ By Technology Type
        ◦ By Material
        ◦ By Vehicle Type

    • Rest of the World
        ◦ By Region (South America, Africa) 
        ◦ By Propulsion
        ◦ By Technology Type
        ◦ By Material
        ◦ By Vehicle Type

Reasons To Buy This Report:

    • Market size estimation of the global Vehicle Inverters Market on regional and global basis 
    • The unique research design for market size estimation and forecast 
    • Profiling of major companies operating in the market with key developments
    • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:
    • By Segment 
    • By Sub-segment 
    • By Region/Country
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