According to this latest study, the growth in the EV Power Inverter Market will change significantly from the previous year. Over the next six years, EV Power Inverter will register a CAGR in terms of revenue, and the global market size will reach USD in millions by 2028.
An electric vehicle power inverter is a device that converts the Direct Current (DC) power used in an electric vehicle motor to Alternating Current (AC). Electric vehicle power inverter has wider application in electric vehicles. The converted current is further utilized by motors to operate compatible devices and sensors, which utilizes AC current for their operation. Moreover, in electric vehicles, the power can be utilized for plug-in outlets and other standard 120-volt devices.
Factors such as increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission fuel-efficient vehicles are anticipated to boost the growth of the global electric vehicle power inverter market during the forecast timeframe. However, lack of sufficient infrastructure for electric vehicles and high manufacturing cost of electric vehicles are expected to hinder the growth of the global electric vehicle power inverter industry during the forecast period. Moreover, technological advancement in electric vehicles and rise in demand for solar powered electric vehicles are anticipated to create an opportunity for the electric vehicle power inverter market in near future.
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Leading Key Players Covered in EV Power Inverter market:
- Aptiv
- Continental AG
- DENSO Corporation
- Hitachi Automotive Systems Ltd
- Infineon Technologies AG
- Meidensha Corporation
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Toyota Industries Corporation
- Valeo Group and other major players.
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Segmentation of EV Power Inverter Market:
By Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
By Propulsion:
- Full Hybrid Vehicle
- Plug-in Hybrid Vehicle
- Battery Electric Vehicle
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Geographic Segment Covered in the Report
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
Reasons to Purchase this Market Report:
- Market forecast analysis through recent trends and SWOT analysis
- EV Power Inverter Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
- Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
- EV Power Inverter Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
- Competitive environment related to the EV Power Inverter market share for key players, along with new projects and strategies that players have adopted over the past five years
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