Global Electric Vehicle Power Inverter Market to Gain Impetus Due to Flourishing Automotive Sectors

ALBANY, New York, April 4, 2017- MarketResearchReports.biz has recently announced the addition of its report titled, “Global Electric Vehicle Power Inverter Market 2017-2021” to its offering. The 77 page-long report reveals the key trends, growth opportunities, market restraints and growth drivers, along with an in-depth discussion of the product portfolios and key strengths and limitations of the prominent vendors. 

Growing number of consumers have been displaying a demand for advanced electric vehicles (EVs) of late. The growing concerns about harmful vehicle emissions will lead to rising preference for eco-friendly electric vehicles with lower emissions. The electronic powertrain control systems installed in electric vehicles determine their level of emission. As inverters play a central role in the control of electronic powertrains, the global market for electric vehicle power inverters will receive a substantial boost. Semiconductors such as GaN and SiC have been increasingly being adopted and this recent trend might benefit the market. 

The controller transmits a signal to the inverter during acceleration, for the conversion of the DC to AC needed for the electric motor, as per the requirements of the motor. The amount of energy required is calculated in advance while actuating the accelerator pedal. Yet, extra energy is supplied to the inverter as a significant amount of energy will be used up during the switching process. Some power is also used by the electronic components, in accordance with their efficiency. However, as advanced inverters use compact components, the losses incurred while switching will be reduced significantly. Therefore, the output AC receives a boost, thereby increasing the discharge time. All these changes will enhance the range of electronic vehicles, triggering more demand for these high-end power modules.

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By type of electric powertrain, the global market for electric vehicle power inverters has been segmented into plug-in hybrids, full hybrids, pure EVs, mild hybrids, and commercial (H) EVs. Of these, the mild hybrid electric vehicle power inverters represented a major chunk of the global market in 2016. The growing popularity of this segment can be attributed to the extensive adoption of these inverters by numerous manufacturers of automobiles.

Based on geography, the global market for electric vehicle power inverters has been categorized into North America, APAC, and Europe. Europe might contribute significantly to the global market in terms of revenue. North America is also slated for significant growth as high environmental awareness triggers the adoption of eco-friendly electric vehicles. Asia Pacific perhaps holds the maximum potential for growth in the electric vehicle power inverter market, backed by the growing automotive sector, rising purchasing power of consumers, and increasing R&D activities.

Some of the leading players operating in the global market for electric vehicle power inverters are Hitachi Automotive, Continental, Toyota Industries, Bosch, Fuji Electric BYD, Metric mind, Denso, Mitsubishi Electric, and Delphi.

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