Press release
Traction Inverter Market for EVs to Experience Rapid Growth, Projected to Hit $89.6 Billion by 2031
EV Traction Inverter Market
According to the latest research by InsightAce Analytic, the Global EV Traction Inverter Market is valued at US$ 15.3 Bn in 2023, and it is expected to reach US$ 89.6 Bn by 2031, with a CAGR of 24.9% during the forecast period of 2024-2031.
Get Free Access to Demo Report, Excel Pivot and ToC: https://www.insightaceanalytic.com/request-sample/2839
A traction inverter is an essential and crucial component of electric and hybrid vehicles because it converts the battery's direct current (DC) into the alternating current (AC) essential to power the electric motor. Driving demands this adjustment. The traction inverter is vital for optimizing energy use, regulating motor speed, and managing power flow. The traction inverter market is experiencing a surge in demand due to the expansion of electric vehicle (EV) charging infrastructure and the advancements in power electronics. The global deployment of charging stations has successfully mitigated a significant impediment to the adoption of electric vehicles (EVs), thereby enhancing consumer confidence and alleviating concerns regarding range anxiety. The demand for electric vehicles is on the rise, which in turn increases the demand for high-performance traction inverters as charging infrastructure becomes more accessible and efficient. Nevertheless, the traction inverter market is significantly impeded by the range limitations of electric vehicles (EVs). The energy capacity and efficacy of the traction inverter are inextricably linked to the driving range of an electric vehicle. Limited range is frequently perceived by consumers as a substantial disadvantage, which contributes to their reluctance to adopt electric vehicles.
List of Prominent Players in the EV Traction Inverter Market:
• Robert Bosch GmbH
• Tesla, Inc.
• ZF Friedrichshafen AG
• BYD Company Limited
• BorgWarner Inc.
• Inovance Automotive Technology Co., Ltd.
• ZAPI S.p.A.
• Curtis Instruments, Inc.
• United Automotive Electronic Systems Co., Ltd. (UAES)
• Nidec Corporation
• MAHLE GmbH
• Broad-Ocean Motor Co., Ltd.
• Danfoss A/S
• Tianjin Santroll Electric Automobile Technology Co., Ltd.
• Schaeffler AG
• Shenzhen V&T Technologies Co., Ltd.
• JEE Automation Equipment Co., Ltd.
• Dana TM4 Inc.
• Megmeet Electrical Co., Ltd.
• Denso Corporation
• Hitachi Astemo, Ltd
Expert Knowledge, Just a Click Away: https://calendly.com/insightaceanalytic/30min?month=2024-02
Market Dynamics:
Drivers-
It is anticipated that the global traction inverter market will experience a boost in growth owing to the growing prevalence of electric and combination electric vehicles among consumers. In the years ahead, the global market will be sustained by advancements in electric propulsion systems and breakthroughs in the power electronics sector. The global market will be driven by stringent emission protocols and rigorous fuel-conserving laws. The development of the global market will be stimulated by favourable government initiatives that encourage the use of the product and favourable incentives provided by these governments for the promotion of electric mobility.
Challenges:
In the future, the growth of the worldwide traction inverter industry is expected to face challenges brought on by a decrease in availability to raw materials as well as an increase in the prices of its products. A significant amount of competition from automobiles powered by internal combustion engines has the potential to further impede the growth of the sector on a worldwide scale. The absence of charging infrastructure in developing nations will have a devastating impact on the development of the global industry in the years to come.
Regional Trends:
The North American EV Traction Inverter market is expected to generate significant market share in revenue metrics and is projected to grow at a high CAGR in the near future; the rise may significantly influence the regional market expansion in the coming years in the sale of electric vehicles in countries like the United States and Canada. Additionally, the regional market will expand in the y ears ahead due to the presence of major vehicle manufacturers in these countries and an increase in the allocation of funds for the development of robust electric vehicle charging infrastructure. Furthermore, the expansion is propelling Europe. Initially, the growing demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs) is a significant factor, as traction inverters are critical components that convert DC to AC power to operate the electric motor. Government incentives that encourage the adoption of zero-emission vehicles and stringent emission regulations are also substantial factors.
Unlock Your GTM Strategy: https://www.insightaceanalytic.com/customisation/2839
Segmentation of EV Traction Inverter Market-
By Type-
• Low Voltage (24 to 144V)
• High Voltage (144 to 800V)
By Application-
• Passenger Car
• Commercial Vehicle
• Low-Speed Vehicle
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
Empower Your Decision-Making with 180 Pages Full Report @ https://www.insightaceanalytic.com/buy-report/2839
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Traction Inverter Market for EVs to Experience Rapid Growth, Projected to Hit $89.6 Billion by 2031 here
News-ID: 3753535 • Views: …
More Releases from InsightAce Analytic Pvt. Ltd
3D Printed Satellite Market expected to Witness Huge Revenue Growth to 2034
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global 3D Printed Satellite Market- (By Component (Antenna, Bracket, Shield, Housing and Propulsion), By Satellite Mass (Nano and Microsatellite, Small Satellite, Medium and Large Satellite)), By Application, By Manufacturing Technique, By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global 3D Printed Satellite Market is valued…
TROP2 (Trophoblast Cell-surface Antigen 2) Targeted Cancer Therapy Market expect …
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global TROP2 (Trophoblast Cell-surface Antigen 2) Targeted Cancer Therapy Market- (By Application (Breast Cancer, Prostate Cancer, Lung Cancer, Colorectal Cancer, Pancreatic Cancer, and Others)), By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2034."
According to the latest research by InsightAce Analytic, the Global TROP2 (Trophoblast Cell-surface Antigen 2) Targeted Cancer Therapy Market is expected to…
Health and Wellness Market expected to Witness Huge Revenue Growth to 2034
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Health and Wellness Market- (By Sector (Personal Care & Beauty & Anti-Aging, Nutrition & Weight Loss, Physical Activity, Wellness Tourism, Preventive & Personalized Medicine, Spa Economy, and Others)), By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2034."
According to the latest research by InsightAce Analytic, the Global Health and Wellness Market is valued at…
Blood Plasma Freezers Market expected to Witness Huge Revenue Growth to 2034
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Blood Plasma Freezers Market- (By Type (Manual Defrost, Automatic Defrost), By Application (Hospital, Laboratory), By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Blood Plasma Freezers Market is valued at US$ 539.6 Mn in 2023, and it is expected to reach US$ 772.0 Mn…
More Releases for Traction
Global Traction Chains Market Growing Popularity & Emerging Trends | Pewag, Rud, …
The global Traction Chains Market size reached 317.64 USD Million in 2024. Looking forward, MarketsGlob expects the market to reach 451.72 USD Million by 2031, exhibiting a growth rate (CAGR) of 4.50% during 2025-2031
The global market research report for Traction Chains presents a thorough examination of the market environment. This includes a detailed evaluation of prominent industry leaders, pricing patterns, as well as the broader factors influencing the market, both…
Traction Inverters Market Size, Forecast 2031 by Key Companies- STMicroelectroni …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲: According to Verified Market Reports analysis, the global Traction Inverters Market size was valued at USD 14.8 Billion in 2023 and is projected to reach USD 45.7 Billion by 2031, growing at a CAGR of 17.9% during the forecasted period 2024 to 2031.
The Traction Inverters Market is witnessing substantial growth, driven by the rapid expansion of the electric vehicle (EV) industry and the global shift towards sustainable…
Railway Traction Inverter Market
Railway traction inverter works on a wide component for transforming an electric energy in a way that it gets converted into power and then eventually in motion. This inverter helps to minimize switching and conduction losses at low and high currents, which allow maximization of rail acceleration and driving range. It is used to convert kinetic energy into electric to charge the battery of the vehicle, which helps to replace…
Traction Motor Market Strong Extension In Revenue Continues | Hitachi, American …
Traction motors are AC or DC electric motors that provide power to drive locomotives. Further, these motors offer high durability and deliver robust performance, owing to high power and superior mechanical susceptibility of heavy payloads. . The traction motors require high power to deliver the torque required to move the wheels, resulting in compact designs, efficient power-to-weight rations, and efficient cooling of the traction motors.
Request To Download Sample of This…
Traction Chains Market Will See Strong Expansion Through 2028: Pewag, Rud, Peerl …
The market report delivers an all-inclusive analysis of the market structure along with a forecast of the various segments and sub-segments of the Traction Chains industry. This wide-ranging market research report acts as a backbone for the success of business in any niche. The Traction Chains market survey report has been prepared by conducting market research in a systematic manner. Moreover, the Traction Chains report includes a professional in-depth study…
Railway Traction Motor Market by Type (Direct Current Traction Motors, Alternati …
The global railway traction motor market was valued at $30.3 billion in 2016, and is estimated to reach $41.6 billion by 2025, growing at a CAGR of 3.8% from 2017 to 2025. Railway traction motor is a type of electric motor, which is used in electrically powered rail vehicles. The global railway traction motor market is expected to witness a significant growth in the future, owing to the technological advancements…
