Electric Vehicle Power Inverter Market : Integrated Inverter System, Separate Inverter System, Mechatronic Integration System 2021-2031

Electric Vehicle Power Inverter Market by Propulsion (Hybrid Vehicle, Plug in Hybrid Vehicle, Battery Electric Vehicle), by Inverter Type (Traction Inverter, Soft Switching Inverter), by Vehicle Type (Passenger Vehicle, Commercial Vehicle), by Level of Integration (Integrated Inverter System, Separate Inverter System, Mechatronic Integration System), by Distribution Channel (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021-2031. The electric vehicle power inverter market size was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031.

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Based on inverter type, the traction inverter segment held the dominating market share in 2021, holding around three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The soft switching inverter segment, on the other hand, is expected to cite the fastest CAGR of 11.6% during the forecast period.

Based on vehicle type, the passenger vehicle segment held the dominating market share in 2021, holding more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The commercial vehicle segment, on the other hand, is expected to cite the fastest CAGR of 15.1% during the forecast period.

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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KEY FINDINGS OF THE STUDY

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.

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.

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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