EV Power Inverter Market- Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2028

Market Overview:
Global EV Power Inverter Market is expected to grow at a significant growth rate, and the analysis period is 2022-2028, considering the base year as 2021.

Power inverters are increasingly used in electric vehicles. The inverter converts direct current (DC) into alternating current (AC), which enables the motors in electric cars to run. Electric automobiles use a variety of inverter types, including traction inverters and soft-switching inverters. Additionally, the electric vehicle power inverter assists in the generation of extremely high current since the created voltage and input voltage have opposite polarity and produce current when the engine is started. As a result of the increase in demand for electric vehicles, the market for power inverters for these vehicles is growing.

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Market Dynamics:

Driver:
Power inverters for electric vehicles offer a number of benefits, such as low running costs compared to conventional fuel motors, strict regulatory regulations to minimize climate contamination, and decreased outflows from tailpipes that essentially underlie their popularity on a global scale. Transactions involving electric cars, for instance, have increased as a result of events in the US, China, and EU. In the first half of 2021, sales of electric vehicles increased by 150% year over year to 2.59 million units, making up over 25% of all new vehicle sales globally.

Opportunities:
The market for electric vehicles is growing and will probably continue to do so during the projection period. This is because most automakers and allied companies view electric vehicles as an investment opportunity. The markets for electric vehicles and charging stations are growing as a result of this increase. The largest potential market for electric buses outside of China is expected to drive e-bus demand for the entire anticipated timeframe. Over 400,000 more bus purchases are anticipated by 2025, keeping the nation's overall bus sales steady.

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Market Segmentation
By Propulsion
• Full Hybrid Vehicle
• Plug-in Hybrid Vehicle
• Battery Electric Vehicle

By Inverter Type
• Traction Inverter
• Soft Switching Inverter

By Vehicle Type
• Passenger Vehicle
• Commercial Vehicle

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By Region
• 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)

Top Key Players Involved Are:
• 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.

Key Industry Developments In EV Power Inverter Market

November 2021, The Suzhou Industrial Park factory of BorgWarner announced plans for the second phase of development, with production beginning in the middle of 2023. To lead the power electronics technology in the Chinese market, BorgWarner's Suzhou facility's R&D Center will concentrate on the entire spectrum of electronics design and development, including power electronics, inverters, and DC/DC converters.

The report covers exhaustive analysis on
• EV Power Inverter Market Segments.
• EV Power Inverter Market Dynamics.
• EV Power Inverter Market Size.
• EV Power Inverter Market Supply & Demand.
• Current Trends/Issues/Challenges pertaining to EV Power Inverter Market.
• Competition & Companies involved in EV Power Inverter Market.
• Technology related to EV Power Inverter Market.
• Value Chain associated with EV Power Inverter Market.

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