Electric vehicle power inverterhas wider application in electric vehicles. The inverter converts direct current (DC) into alternating current (AC), which allows to run electric vehicles motors. There are different types of inverters, which are used in electric vehicles such as soft switching inverter and traction inverter. In addition, electric vehicle power inverter helps to generate very high current during the time of switching the engine as the generated voltage and input voltage have opposite polarities,which generate current.Therefore, thisleads to increase indemand forelectric vehicles, resulting in the growth of the electric vehicle power inverter market.
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Major Market Players:
Aptiv, Continental AG, DENSO Corporation, Hitachi Automotive Systems Ltd, Infineon Technologies AG, Meidensha Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Toyota Industries Corporation, and Valeo Group
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Top impacting factors for the growth of the electric vehicle power inverter market areincrease inpenetration of electric vehicles and government initiatives toward pollution-free environment. However, heavy current flow and blowing of fuses of electric motor hamper the growth of the market. Furthermore, technological advancements in power electronic and initiatives toward eco-friendly environmentprovide lucrativeopportunitiesfor the electric vehicle power inverter market.
Increase inpenetration of electric vehicles
Increase indemand for electric vehicles has resulted in increase indemand for electric brakes. Electrical parking brake systembooststheelectric vehicle power inverter market to build inverters for electric vehicles. Moreover,the sale of electric vehicles is expected todrive the inverter market. As a result,electric vehiclesfuel the growth ofthe electric vehicle power inverter market.
North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa
Government initiatives toward pollution-free environment
Governmentstakeinitiativesto reduce pollution and harmful gasses for aneco-friendly environment. Increase indemand for electric vehicles initiates increase in demand for electrical parking brake systems. Electric vehicles do not emit harmful gases as battery or inverter isused instead of fuel. Therefore,growth of the electric vehicle market propels the growth of the electric vehicle power inverter market.
Key benefits of the report:
• This study presents the analytical depiction of the electric vehicle power inverter market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the electric vehicle power inverter market share.
• The current market is analyzed from 2020 to 2027 to highlight the electric vehicle power inverter market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
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