Power electronics for electric vehicle market is booming with a CAGR of 35.5%

The power electronics for electric vehicle market size was valued at $2.59 billion in 2018, and is projected to reach $30.01 billion by 2026, growing at a CAGR of 35.5% from 2019 to 2026. 

The Power Electronics for Electric Vehicle Market report now available with Report Ocean, is a collation of valuable insights related to market size, market share, profitability margin, growth dynamics and regional proliferation of this business vertical. The study similarly consists of a detailed analysis pertaining to key challenges, growth opportunities and application segments of the power electronics for electric vehicle market. Comprehensive secondary research was done to collect information on the market and its parent and ancillary markets. Further, primary research was performed to validate the assumptions and findings obtained from secondary research with key opinion leaders (KOL) and industry experts.

The inverters segment secured highest revenue share in power electronics for electric vehicle market in 2018. However, on-board chargers' market is anticipated to witness higher growth rate during the forecast period, owing to growth in electrification of vehicle. Among the end users, automotive segment dominated the power electronics market in 2018, and is projected to follow same trend during forecast period. The railway segment is expected to grow at a CAGR of 40.7% from 2019 to 2026, owing to surge in demand for electric propulsion systems in the locomotive industry.

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The major factors that drive the power electronics for electric vehicle market include surge in demand for energy-efficient battery-powered devices, stringent emission regulations to reduce vehicle weight and emission, and government initiatives to balance environmental pollution and vehicle emission. However, high cost of vehicle and complexity in designing and integrating advance power electronic components in electric vehicles hinder the power electronics for electric vehicle market growth. Furthermore, technological advancements in vehicle battery and increase in R&D activities are expected to create lucrative growth opportunities for the power electronics for electric vehicle market. In addition, power electronics supports high input impedance and improved parallel current sharing, which increases the adoption of power electronic components in electric vehicles.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the power electronics for electric vehicle market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the power electronics for electric vehicle market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the power electronics for electric vehicle market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Some major parameters were considered to forecast the current estimates of the Market:

• Market driving trends
• Predicted opportunities
• Challenges and restraints to be faced
• Technological developments in power electronics for electric vehicle market
• Other developments, e.g. Infrastructural
• Consumer preferences
• Government regulations
• Consumer spending dynamics and trends

Market Overview:

The report includes detailed information about market drivers, restraints, challenges, threats, and potential growth opportunities of power electronics for electric vehicle market. The report consists of precise qualitative information such as Porter’s five forces, PESTLE Analysis, and value chain analysis.

Competitive Landscape:

Geographically, global power electronics for electric vehicle market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer. The competitive analysis of leading market players is another notable feature of the power electronics for electric vehicle market report; it identifies direct or indirect competitors in the market. The report offers company profile of market players alongside product picture and it’s specifications, power electronics for electric vehicle market plans, and technology adopted by them, future development plans. In addition, strength and weaknesses analysis of Power Electronics for Electric Vehicle Market competitive firms gives competitive advantages so that the efficiency and the productivity of companies are improved.

KEY PLAYERS
- Denso Corporation
- Robert Bosch GmbH
- Infineon Technologies AG
- Delphi Technologies
- Continental AG
- Hitachi Automotive Systems, Ltd.
- Delphi Technologies
- Valeo
- Mitsubishi Electric Corporation
- Denso Corporation
- Infineon Technologies
- Robert Bosch GmbH
- Hella
- Panasonic Corporation
- Tesla Inc.
- Toyota Industries Corporation
- Hangzhou Tiecheng Information Technology

Market Segmentation:

BY APPLICATION
- Inverter
- Converter
- On-board Charger
BY END USE
- Automotive
- Railways
- Marine
- Electrically Powered Airborne Vehicles

Geographical Analysis:

Power Electronics for Electric Vehicle Market Segment by Regions Consists:

• North America (U.S. and Canada)
• Europe (UK, Germany, France, Russia, Italy and Rest of Europe)
• Asia-Pacific (China, Japan, India, Korea, and Rest of Asia-Pacific)
• South America (Brazil, Argentina, Mexico, and Rest of South America)
• The Middle East and Africa (GCC Countries, Egypt, South Africa, and Rest of MEA)

Key Questions Addressed in the Report

• Who are the top 10 players operating in the Power Electronics for Electric Vehicle Market?
• What are the driving factors, restraints, opportunities, and challenges in the Power Electronics for Electric Vehicle Market?
• What are the current scenario and industry trends in the Power Electronics for Electric Vehicle Market?
• Which industry and technology can be a potential revenue pocket for market players in the next five years?
• Who are the visionary leaders, dynamic differentiators, innovators, and emerging players and what are the key strategies adopted by them to strengthen their positions?
• What are the power electronics for electric vehicle market opportunities and threats faced by the vendors in the power electronics for electric vehicle market?
• What are the power electronics for electric vehicle market challenges to market growth?

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This release was published on openPR.