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Electric Vehicle Power Inverter Size
OREGAON, PORTLAND, UNITED STATES, September 1, 2023/EINPresswire.com/ — According to the report published by Allied Market Research, the global electric vehicle power inverter market generated $8.67 billion in 2021, and is projected to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission and fuel-efficient vehicles. The market economy is responsible for the growth of the market. Countries such as China, India, Brazil, and South Africa are growing economies. Thus, the manufacturing sector witnessed prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the automotive industry, which in turn, is expected fuel the market. In addition, in some undeveloped countries, there is an increase in the electric vehicle sales, which is expected to boost the EV power inverter market.
Electric vehicle power inverter market is segmented on the basis of propulsion, inverter type, vehicle type, level of integration, distribution channel, and region. By propulsion, it is divided into full hybrid vehicle, plug-in hybrid vehicle, and battery electric vehicle. By on inverter type, it is divided into traction inverter, and soft switching inverter. By vehicle type, it is segmented into passenger cars, and commercial vehicles. By level of integration, it is divided into integrated inverter system, separate inverter system, and mechatronic integration system. By distribution channel, the market is divided into OEM, and Aftermarket. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
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By propulsion, the battery electric vehicle segment is expected to register a significant growth during the forecast period.
By inverter type, the soft switching inverter segment is projected to lead the global electric vehicle power inverter market.
By vehicle type, the commercial vehicle segment is projected to lead the global electric vehicle power inverter market size.
By level of integration, the integrated inverter system segment is projected to lead the global electric vehicle power inverter market.
By distribution channel, the aftermarket segment is projected to lead the global electric vehicle power inverter market.
Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
The key players that operate in this electric vehicle power inverter market are Aptiv, BYD COMPAY LTD., Continental AG, CWB Automotive Electronics Co., Ltd., Denso Corporation, Hitachi Astemo, Ltd. (Subsidiary of Hitachi, Ltd.), Lear Corporation, Marelli Holdings Co., Ltd., Meidensha Corporation, Mitsubishi Electric Corporation, Nissan motors co., Ltd., Robert Bosch GmbH, Siemens, Sungchang, Toyota Industries Corporation, Valeo, and Vitesco Technologies
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Railway Traction Inverter Market : https://www.alliedmarketresearch.com/railway-traction-inverter-market-A08786
Automotive Traction Inverters Market : https://www.alliedmarketresearch.com/automotive-traction-inverters-market-A09719
Vehicle Inverter Market : https://www.alliedmarketresearch.com/vehicle-inverter-market
David Correa
Allied Analytics LLP
1 800-792-5285
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