North America Electric Vehicle Power Inverter Market Astonishing Growth with Top Influencing Key Players like Continental AG, Robert Bosch GmbH, Denso Corporation

Latest research on North America Electric Vehicle Power Inverter Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the North America Electric Vehicle Power Inverter market. This report included a special section on the Impact of COVID19. Also, North America Electric Vehicle Power Inverter Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the North America Electric Vehicle Power Inverter industry.

North America Electric Vehicle Power Inverter market is growing at a CAGR of 7% during the forecast period (2021-2026).

The North America Electric Vehicle Power Inverter market is highly competitive and consists of a number of major players. Top Companies like Continental AG, Robert Bosch GmbH, Denso Corporation, Toyota Industries Corporation, Hitachi Automotive Systems Ltd, Aptiv PLC, Mitsubishi Electric Corporation, Calsonic Kansei Corporation, Valeo Group

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Industry News And Developments:

- In 2019, Eaton launched its compact power-dense automotive inverters for increasing the range of electric vehicles (EV), these inverters have the compact, lightweight design, the high-power density of 35kW/L and 98% operating efficiency that provides maximize range by taking minimal space in the vehicle.

- In April 2020, Karma Automotive has announced that it is in the final stage of development of two new Silicon Carbide (SiC) Inverters for enhancing electric mobility charging. Karma’s is developing this inverter, in partnership with the Power Electronic System Laboratory at the University of Arkansas (PESLA)

Scope of the Report

- Power inverter is one of the key components in electric vehicles, which ideally converts battery DC power into AC power for electric motor. Considering the growing concern among the automakers to optimize energy consumption in vehicles, the inverter manufacturers have improved inverter capabilities to handle energy, vice versa, from both the sources (i.e. battery and motor).

- With growing stringent emission standards across the world, automakers are gradually shifting their production from conventional engine vehicles to hybrid and electric vehicles. In addition to this, governments have initiated incentives, such as cut down in vehicle tax, bonus payments, and premium, for buyers of electric vehicles, in respective countries, to support the electric vehicles sales growth.

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Key Market Trends

Battery Electric Vehicles Witnessing High Growth

Currently, Electric vehicles have captured nearly 2% share in the total United States cars fleet. With active participations of industry players and government organization towards EV industry development, the growth of electric vehicle adoption is expected to improve in the future. New electric vehicle models are being launched in the market.

The 2021 Polestar 2, an electric fastback, which can generate 408 horsepower, and has a 78 kWh battery and it can deliver an estimated range of 292 miles. Polestar is jointly owned by Volvo Car Group and Zhejiang Geely Holding of China.

United States Expected to Lead the Market

In terms of country, the United States is projected to hold the largest share as well as grow with the highest CAGR during the forecast period. Some of the major factors driving the growth in the region are growing environmental concerns, which, in turn, have resulted in the enactment of stringent emission and fuel economy norms, and continuous government support in the form of subsidies. For instance, in January 2020, New Jersey passed a law in for having 330,000 electric cars on its roads by the end of 2025, in addition to that New Jersey wants 85% of cars sold in the state to be electric by 2040.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: North America Electric Vehicle Power Inverter Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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