The report of Vehicle Inverters Market by Propulsion Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)), Technology Type (Insulated-Gate Bipolar Transistor (IGBT), Metal-oxide-semiconductor field-effect transistor (MOSFET)), Semiconductors Materials Type (Gallium Nitride, Silicon, Silicon Carbide), Output Power (Less than or equal to 130 KW, Greater than 130 KW), Vehicle Type (Passenger Vehicles, Commercial Vehicles), and Region (North America, Asia Pacific, Europe, South America, Middle East & Africa) is expected to reach US$ 9.38 Bn by 2026, at a CAGR of XX% during a forecast period.
The strict government regulations regarding carbon emissions and an increase in sales of electric vehicles have driven the vehicle inverters market globally. With a massive emphasis on the environmental norms, the electric vehicle market has seen decent growth, and this has led to a growth in its adjacent markets. On the other hand, improvement in electronic units in vehicles is challenged by the rising faults and malfunctioning of several units such as controllers, sensors, and capacitors.
BEV segment is estimated to account for the largest market size during the forecast period.
Based on propulsion type, the BEV segment is expected to be the largest market for the vehicle inverters market during forecast period. The increasing purchasing power of customers and the growing demand for eco-friendly vehicles in developing and developed countries have contributed to the growth of the market for BEV vehicles. As well, the growing stringency of mandates related to emissions and favorable government policies in numerous countries has inflated the demand for vehicle inverters.
North America is expected to be the second largest market during the forecast period.
Regionally, North America is home to leading vehicle manufacturers such as Ford Motors, General Motors, and Tesla. The North American automotive industry has witnessed rapid development on account of favorable policies adopted by the government in the manufacturing sector.
The US is expected to account for the largest share of the North American vehicle inverters market throughout the forecast period. The US automotive industry is highly inclined toward innovation, technology, and development of carbon emission free vehicles. Factors such as stringent emission norms and growing technological advancements in the manufacturing of eco-friendly vehicles are expected to boost the North American vehicle inverters market.
Key players operating the Market are Denso, Delphi Technologies, Continental AG, Robert Bosch GmbH, Mitsubishi Electric Corporation, Hitachi, Valeo, Fuji Electric, Lear Corporation, and Toshiba.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global vehicle inverters market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global vehicle inverters market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global vehicle inverters market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “ Vehicle Inverters Market”
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