Automotive Inverter Market is estimated to be US$ 13.9 billion by 2034 with a CAGR of 16.4% during the forecast period

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Published Date: March 2024

The Automotive Inverter Market accounted for US$ 3.5 billion in 2024 and is estimated to be US$ 13.9 billion by 2034 and is anticipated to register a CAGR of 16.4%. Major OEMs are changing their output profiles from traditional engines to hybrid and electric vehicles as a result of the emission standards around the world, which is a major factor driving the global automotive inverter market's development. The automotive inverter is a key component in any car, and it's responsible for converting DC power from the battery to AC power. These inverters are designed to imitate alternating current, which aids in the proper operation of small consumer electronics. Furthermore, regional governments all over the world create an ecosystem that encourages the selling of electric vehicles, which boosts the sale of automotive inverters. Geographically, Asia Pacific is expected to hold a significant market share during the forecast period, as the automotive industry thrives in major economies such as China and India.

The report " Automotive Inverter Market, By Technology (IGBT and MOSFET), By Material (Silicon and Silicon Carbide), By Propulsion Type (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, and Hybrid Electric Vehicle), By Power Output (?130 KW and >130 KW), By End-market (Original Equipment Manufacturer and Aftermarket), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Key Highlights:

The Asia-Pacific region dominated the global automotive inverter in 2018, whereas Europe is expected to have the highest growth rate, during the forecast period.
Since the automotive sector is thriving in major economies such as China and India, Asia Pacific is expected to hold a significant market share during the forecast period.

Analyst View:

The increase in adoption of alternative energy vehicles, as well as rising concerns about green house gas emissions, are driving the global automotive inverter market. However, considerations such as the scarcity of charging resources stifle overall business expansion. The automotive inverter market research offers a comprehensive view of the technology and materials used in its production. The aim of this market research is to look at the future of the automotive inverter market in terms of market drivers, patterns, technical advancements, and funding scenarios, among other things.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Automotive Inverter Market, By Technology (IGBT and MOSFET), By Material (Silicon and Silicon Carbide), By Propulsion Type (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, and Hybrid Electric Vehicle), By Power Output (?130 KW and >130 KW), By End-market (Original Equipment Manufacturer and Aftermarket), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Key Market Insights from the report:

The Automotive Inverter Market accounted for US$ 3.5 billion in 2024 and is estimated to be US$ 13.9 billion by 2034 and is anticipated to register a CAGR of 16.4%. The Automotive Inverter Market is segmented based on the Technology, material, propulsion type, application, and region.

By technology, the Global Automotive Inverter Market is segmented into IGBT, and MOESFET.
By material, the market is segmented in Silicon, and Silicon carbide.
By propulsion type, the market is segmented into Battery electric vehicle, Plug-in hybrid electric vehicle, and Hybrid electric vehicle.
By Application, the Global Automotive Inverter Market is segmented into <130KW, and >130 KW.
By region, the Global Automotive Interior Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape:

The key players operating in the Global Automotive Inverter Market include Arilou Technologies, Argus cyber security Ltd. ,NXP semiconductors N.V , HARMAN International, Continental AG, ESCRYPT, Vector informatik GmbH, Karamba security, Robert Bosch GmbH, and Symantec Corporation. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in April 2019, Denso Corporation, the world’s second largest mobility supplier, has announced that it will invest approximately US$1.6 billion over the three years – from FY2018 to late FY2020. The investment is based to support production and development of electrified automotive products, systems and technologies.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Key Topics Covered