The global market for electric vehicle power inverters is anticipated to expand at a faster rate over the period covered by this estimate due to the rising sales of electric vehicles. The automobile industry has embraced electric vehicles, which have become an essential component of the sector. Additionally, rising environmental concerns have contributed to an increase in EV sales across the globe. For instance, the sale of electric vehicles in the United States climbed from 2% in 2019 to 2.4% in 2020, representing a significant rise.Growth of the global market for electric vehicle power inverters is anticipated to be fueled during the forecast period by increasing initiatives undertaken by governments all over the world with the aim of encouraging consumers to choose electric vehicles rather than conventional automobiles. For instance, the government of India has been encouraging the quick adoption of electric vehicles throughout the country by offering financial incentives to customers through its FAME and FAME II programs, as well as offering manufacturers and investors enticing choices for the establishment of EV facilities. This is all in an effort to hasten the transition to EVs across the nation.
The market for Electric Vehicle Power Inverters was estimated at USD 4,149.28 million in 2021, and from 2022 to 2030, it is projected to rise at a compound annual growth rate (CAGR) of 26.5%.
Leading Companies in the Electric Vehicle Power Inverter Industry:
1 Vitesco Technologies
Vitesco Technologies was founded in 2005 and its headquters in Regensburg, Germany. The company operates in 50 countries. In 2020 itesco Technologies produces the electric axle drive system in China, currently the world's largest and fastest-growing market for electric .
2. Robert Bosch GmbH,
Robert Bosch GmbH,Company founded in 1886, and it’s located Kariya, Aichi, Japan .The Company operates in 150 Countries.
3. DENSO Corporation,
DENSO Corporation,was launch in 1949 and it’s headquarter located India .it operate over 35 country.In2023 DENSO and USJC Announce Mass Production Shipment of Automotive IGBT, Targeting Expanding Electric Vehicle Market.
4. Toyota Industries Corporation
Toyota Industries Corporation was launch in 1926 and it’s headquarter Kariya, Aichi, Japan.it operate over 170 country.
5. Meidensha Corporation,
Meidensha Corporation,is founded in 1897, with its headquarters in Shinagawa City, Tokyo, Japan. With businesses in over 80 countries.
6. Aptiv PLC (BorgWarner Inc.),
Aptiv PLC (BorgWarner Inc. Was launch in 1994. and its headquarter Iphofen, Germany. it operate over 90 country.
7. Mitsubishi Electric Corporation,
Mitsubishi Electric Corporationwas launch in 1921 and its headquarter Chiyoda City, Tokyo, Japan. it operate over 120 country. In 2019 Mitsubishi Electric introduces new power semi-conductor module for motor drive applications in hybrid vehicles and EVs.
8. Marelli Corporation,
Marelli Corporation was launch in 1938. And its headquarter Saitama, Saitama, Japan. It operate over 24country.
9. Valeo Group,
Valeo Group,is founded in 1980, with its headquarters is Chennai India. With businesses in over 15 countries.
10. Hyundai Mobis Co. Ltd,
Hyundai Mobis Co. Ltd, was launch in 1977. And its headquarter South Korea. It operate over 193 country. In2020 Hyundai Mobis Ltd. (Hyundai Mobis) announced that it has unveiled an all-new Electric Complete Chassis Platform Module (e-CCPM) for electric vehicles (EV)
Definition- The Electric Vehicle Power Inverter (EVPI) is a complex electronic device that converts DC battery voltage into multiphase AC current. The EVPI uses six semiconductor power switching devices and a gate driver to regulate the AC voltage and current. It has two current measurements and a position measurement, and it uses mathematical transformations to generate the correct output signals.
