Traction Inverter Market Size, Share, Trends | Industry Report 2025

The Global Traction Inverter Market is projected to grow at a CAGR of 17.57% during the forecast period, to reach USD 7.7 billion by 2025 from an estimated USD 2.5 billion in 2018. The automobile industry has witnessed a continuous increase in the integration of various electronic devices in the vehicles. The rising demand for reducing carbon emissions has led to huge innovations and R&D efforts from OEMs and automotive suppliers for the development of components (battery and inverters) and compliance with government regulations. Moreover, the overall weight of the vehicles has increased due to the integration of various electronic features in electric vehicles. The awareness among the consumers, OEMs, and various suppliers along with a push from the government will boost the demand for traction inverter in the market.

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BEV segment is estimated to account for the largest market size during the forecast period.

BEV segment is estimated to be the largest market for traction inverter market in 2018. The increasing purchasing power of customers and the growing demand for eco-friendly vehicles in emerging and developed countries have contributed to the growth of the market for BEV vehicles. Also, the growing stringency of mandates related to emissions and favorable government policies in several countries has inflated the demand for vehicle inverters.

Commercial vehicles segment for ICE vehicles is estimated to account for the largest market size during the forecast period.

The increasing use of various auxiliary and secondary devices (such as television sets and coffee makers) during official travel by commercial vehicle drivers has driven the growth of vehicle inverters in the commercial vehicle segment. Also, the Traction Inverter Market has witnessed a rising number of innovations due to the growing demand for driver safety and comfort features that increase the durability of the automobile. With the increasing use of various handheld devices (mobile charger, gaming console etc.) and household appliances in vehicles, the demand for vehicle inverters has witnessed an increasing trend in the commercial vehicle segment of ICE vehicles.

Key market players

The global traction inverter market is dominated by major players such as Denso (Japan), Delphi Technologies (UK), Continental AG (Germany), Robert Bosch GmbH (Germany), and Mitsubishi Electric Corporation (Japan).

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Critical Questions:

• How will electric vehicle sales trend impact the Traction Inverter Market in the long term?
• How will the industry cope with the challenge of compactness and light weight components for traction inverters?
• What is the impact of government regulations and policies on the Traction Inverter Market?
• What are the upcoming trends in the Traction Inverter Market? What impact would they make post 2020?
• What are the key strategies adopted by the top players to increase their revenue?

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This release was published on openPR.