Electric vehicle power inverter market to grow by USD 7,828.33 Mn: Automotive components and accessories market is the parent market

NEW YORK, Dec. 8, 2022 /PRNewswire/ — The global electric vehicle power inverter market has been categorized as a part of the global automotive components and accessories market. The parent market, the global automotive components and accessories market, covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers.

The electric vehicle power inverter market size is forecast to grow by USD 7,828.33 million, at a CAGR of 8.84{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} between 2022 and 2027, according to Technavio, Download a report sample

Electric vehicle power inverter Market 2022-2027: Scope

The electric vehicle power inverter market report covers the following areas:

Electric vehicle power inverter market 2022-2027: Vendor Landscape

The global electric vehicle power inverter market is fragmented due to the presence of a large number of players. The rising demand for micro-mobility coupled with growing awareness about vehicular emissions is encouraging the entry of new players in the market. The competition in the market is intense due to increased product offerings by vendors. To sustain in the competitive market, vendors are investing continuously in R&D to develop inverters with advanced technologies that will increase the efficiency and range of electric vehicles. The threat of rivalry is moderate in 2022 and is expected to remain the same during the forecast period.

Aegis Power Systems Inc., BorgWarner Inc., Bosch Mobility Solutions, Continental AG, Danfoss AS, Denso Corp., Fuji Electric Co. Ltd., Hitachi Ltd., Infineon Technologies AG, LG Magna e Powertrain, Marelli Holdings Co. Ltd., MAHLE GmbH, Hyundai Mobis Co. Ltd, Meidensha Corp., and Metric Mind Engineering are among some of the major market participants.

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Electric vehicle power inverter market 2022-2027: Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Buy the Report

Electric vehicle power inverter Market 2022-2027: Segmentation

The full hybrids segment held the largest share of the market in 2022. Full hybrids are the first option for many new car buyers across the world. This is because full hybrids offer more benefits when compared with mild hybrids and plug-in hybrids. Unlike plug-in hybrids, full hybrids do not require charging infrastructure. They are equipped with two inverter-motor modules for better torque and performance. Such benefits are increasing the sales of full hybrid vehicles, which is driving the growth of the segment.

APAC is estimated to account for 46{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} of the market’s growth during the forecast period. The growth of the regional market is driven by the rising demand for electric vehicles and increasing investments in electric vehicle manufacturing plants and expanding existing capabilities. Also, the presence of many major domestic automakers and top tier 1 auto suppliers is contributing to the growth of the electric vehicle power inverter market in APAC.

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What are the key data covered in this electric vehicle power inverter market report?

• CAGR of the market during the forecast period.

• Detailed information on factors that will drive the growth of the market between 2023 and 2027

• Precise estimation of the size of the electric vehicle power inverter market and its contribution to the parent market.

• Accurate predictions about upcoming trends and changes in consumer behavior.

• Growth of the market industry across APAC, Europe, North America, South America, and the Middle East and Africa.

• Thorough analysis of the market’s competitive landscape and detailed information about vendors.

• Comprehensive analysis of factors that will challenge the growth of electric vehicle power inverter market vendors.

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• The electric vehicle (EV) charger market is estimated to grow at a CAGR of 29.63{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} between 2022 and 2027. The size of the market is forecast to increase by 68,483.18 thousand units. The government incentives and subsidies for EV charger infrastructure developments are notably driving the market growth, although factors such as stringent approval rules for the establishment of charger units may impede the market growth.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio