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Vehicle Inverters Market Propulsion Type (BEV, HEV, and PHEV), Output Power Type (<=130 kW and >130 kW), Technology Type (IGBT and MOSFET), Semiconductor Materials Type (GaN, Si, and SiC), By Vehicle Type (PC and CV), and Region - Global Forecast to 2025


Product Code : MNMAT00106409
Survey : MarketsandMarkets
Publish On : 20, May, 2022
Category : Automotive and Transportation
Study Area : Global
Report format : PDF
Sales price option (consumption tax not included)
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[Report Description]

“Strict government regulations regarding carbon emissions and an increase in sales of electric vehicles have driven the vehicle inverters market globally.”
The global vehicle inverters market is estimated to grow from USD 2.5 billion in 2018 at a CAGR of 17.57% to reach USD 7.7 billion by 2025. With a huge emphasis on the environmental norms, the electric vehicle market has seen decent growth, and this has led to a growth in its adjacent markets. However, improvement in electronic units in vehicles is challenged by the rising faults and malfunctioning of various units such as controllers, sensors, and capacitors. For example, the failure of DC link capacitors or any IGBT power device can cause an inverter to generate faulty torques at the wheels, causing unsafe driving conditions.
“Increasing adoption of EVs in the automotive industry is expected to drive the BEV-based vehicle inverters market.”
The BEV-based vehicle inverters market is the fastest and the largest growing segment of the vehicle inverters market. BEVs are considered as zero-emission vehicles. The rebates from the governments on ZEV’s (Zero-Emission Vehicles) purchase can help to increase the BEV sales. Hence, the sale of BEVs is expected to increase in the coming years, which will drive the BEV-based vehicle inverters market.
“IGBT-based vehicle inverters market is projected to be the largest market during the forecast period.”
Heavy investments by vehicle manufacturers in the research and development of the electrification of vehicles is contributing to the growth of the vehicle inverters market. IGBT-based vehicle inverters can withstand high voltage as the newer version of electric vehicles needs to have higher output capacity. The IGBT market is projected to grow due to the growing demand for electric vehicles that require high power efficiency and faster switching capabilities. Hence, IGBT-based vehicle inverters market, by technology type (power module), is projected to be the largest.
“North America is expected to be the second largest market during the forecast period.”
Asia Pacific is estimated to be the largest automotive market followed by North America and Europe. North America is home to leading vehicle manufacturers such as Ford Motors, General Motors, and Tesla. The North American automotive industry has witnessed rapid development because of favorable policies adopted by the government in the manufacturing sector. The US is estimated to account for the largest share of the North American vehicle inverters market during the forecast period. The US automotive industry is highly inclined toward innovation, technology, and development of carbon emission free vehicles. Factors such as stringent emission norms and rising technological advancements in the manufacturing of environment friendly vehicles are expected to propel the North American vehicle inverters market.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the vehicle inverters market.
• By Company Type: OEM - 11% Tier I - 42%, Tier II - 37%, and Tier III - 10%
• By Designation: C Level - 40%, D Level - 35%, and Others - 25%
• By Region: North America - 25%, Europe - 40%, and Asia Pacific - 35%
The vehicle inverters market comprises major manufacturers such as Denso (Japan), Delphi Technologies (UK), Continental AG (Germany), Mitsubishi Electric Corporation (Japan), Toshiba (Japan), and Hitachi (Japan).

Research Coverage:
The market study covers the vehicle inverters market across different segments. It aims at estimating the market size and future growth potential of this market across different segments such as by propulsion type, technology type (power module), semiconductor materials type, output power type, vehicle type, and region. The study also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall vehicle inverters market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

TABLE OF CONTENTS

1 INTRODUCTION 17
1.1 OBJECTIVES OF THE STUDY 17
1.2 MARKET DEFINITION 17
1.3 MARKET SCOPE 18
1.3.1 MARKETS COVERED 18
1.3.2 YEARS CONSIDERED FOR THE STUDY 19
1.4 CURRENCY 19
1.5 PACKAGE SIZE 20
1.6 LIMITATIONS 20
1.7 STAKEHOLDERS 20
2 RESEARCH METHODOLOGY 21
2.1 RESEARCH DATA 21
2.2 SECONDARY DATA 23
2.2.1 KEY SECONDARY SOURCES 23
2.2.2 KEY DATA FROM SECONDARY SOURCES 24
2.3 PRIMARY DATA 25
2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS 25
2.3.2 PRIMARY PARTICIPANTS 26
2.3.3 KEY DATA FROM PRIMARY SOURCES 27
2.4 MARKET SIZE ESTIMATION 28
2.4.1 BOTTOM-UP APPROACH 28
2.4.2 TOP-DOWN APPROACH 29
2.5 MARKET BREAKDOWN AND DATA TRIANGULATION 30
2.6 ASSUMPTIONS 31
3 EXECUTIVE SUMMARY 32
4 PREMIUM INSIGHTS 36
4.1 ATTRACTIVE OPPORTUNITIES IN THE VEHICLE INVERTERS MARKET 36
4.2 VEHICLE INVERTERS MARKET, BY REGION 37
4.3 VEHICLE INVERTERS MARKET, BY COUNTRY 38
4.4 VEHICLE INVERTERS MARKET, BY OUTPUT POWER 39
4.5 VEHICLE INVERTERS MARKET, BY TECHNOLOGY (POWER MODULE) 39
4.6 VEHICLE INVERTERS MARKET, BY PROPULSION TYPE 40
4.7 VEHICLE INVERTERS MARKET, BY SEMICONDUCTOR MATERIALS TYPE 41
4.8 VEHICLE INVERTERS MARKET, BY VEHICLE TYPE 42

5 MARKET OVERVIEW 43
5.1 INTRODUCTION 43
5.2 MARKET DYNAMICS 44
5.2.1 DRIVERS 45
5.2.1.1 Rise in sales of electric vehicles globally 45
5.2.1.2 Surge in the use of various handheld and household devices in vehicles 46
5.2.1.3 Usage of navigation devices and smartphones by cab aggregators, car rental, and fleet management service providers 47
5.2.2 RESTRAINTS 47
5.2.2.1 Lower utilization of battery power for necessary vehicle applications 47
5.2.2.2 Complex design and integration process for advanced applications 48
5.2.2.3 Functional safety requirements 48
5.2.3 OPPORTUNITIES 49
5.2.3.1 Development of high power density inverters 49
5.2.3.2 Demand for combined inverter and DC/DC converter 49
5.2.4 CHALLENGES 50
5.2.4.1 Increase in the overall weight of the vehicle and more space consumption by the inverter 50
6 INDUSTRY TRENDS 52
6.1 INTRODUCTION 52
6.2 TECHNOLOGY OVERVIEW 53
6.2.1 DEVELOPMENT OF MULTILEVEL INVERTERS FOR EV APPLICATIONS 53
6.2.2 NEW SEMICONDUCTOR MATERIALS: SILICON CARBIDE AND GALLIUM NITRIDE 54
6.2.2.1 Silicon Carbide (SiC) 54
6.2.2.2 Gallium Nitride (GaN) 55
6.2.3 EMERGENCE OF ADVANCED VEHICLE INVERTERS IN ELECTRIC VEHICLES 56
6.3 REGULATORY OVERVIEW 57
6.4 VALUE CHAIN ANALYSIS 58
7 ELECTRIC VEHICLE INVERTERS MARKET, BY PROPULSION TYPE 59
7.1 INTRODUCTION 60
7.2 RESEARCH METHODOLOGY 61
7.3 BATTERY ELECTRIC VEHICLE (BEV) 62
7.3.1 INCREASE IN SALES OF BEV WILL BOOST THE MARKET OF VEHICLE INVERTERS GLOBALLY 63
7.4 HYBRID ELECTRIC VEHICLE (HEV) 64
7.4.1 RISE IN USAGE OF FULLY HYBRID VEHICLES WILL FUEL THE MARKET OF VEHICLE INVERTERS 64
7.5 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV) 65
7.5.1 BETTER CHARGING INFRASTRUCTURE WILL DIRECTLY PROPEL THE VEHICLE INVERTERS MARKET 66
7.6 KEY INDUSTRY INSIGHTS 67
8 ELECTRIC VEHICLE INVERTERS MARKET, BY TECHNOLOGY TYPE (POWER MODULE) 68
8.1 INTRODUCTION 69
8.2 RESEARCH METHODOLOGY 70
8.3 IGBT 71
8.3.1 IGBT PROVIDES FASTER SWITCHING CAPABILITIES AND SUITABLE FOR HIGH POWER APPLICATIONS 71
8.4 MOSFET 72
8.4.1 MOSFET HAS THE ADVANTAGES OF HIGHER COMMUTATION SPEED AND GREATER EFFICIENCY DURING OPERATION AT LOW VOLTAGES 72
8.5 KEY INDUSTRY INSIGHTS 73
9 ELECTRIC VEHICLE INVERTERS MARKET, BY SEMICONDUCTOR MATERIALS TYPE 74
9.1 INTRODUCTION 75
9.2 RESEARCH METHODOLOGY 75
9.3 GALLIUM NITRIDE 77
9.3.1 GALLIUM NITRIDE SPECIALIZED SEMICONDUCTOR USUALLY USED IN OPTICAL ELECTRONICS 77
9.4 SILICON 78
9.4.1 SILICON DEVICES SUPPORTS HIGH FREQUENCY SWITCHING APPLICATIONS 78
9.5 SILICON CARBIDE 79
9.5.1 SILICON CARBIDE MATERIALS PROVIDE GREATER THERMAL MANAGEMENT FLEXIBILITY 79
9.6 KEY INDUSTRY INSIGHTS 80
10 ELECTRIC VEHICLE INVERTERS MARKET, BY OUTPUT POWER 81
10.1 INTRODUCTION 82
10.2 RESEARCH METHODOLOGY 82
10.3 <= 130KW 84
10.3.1 SUITABLE FOR FWD OR RWD WHEEL DRIVE VEHICLES 84
10.4 > 130 KW 84
10.4.1 BEST SUITED FOR AWD WHEEL DRIVE VEHICLES 84
10.5 KEY INDUSTRY INSIGHTS 85
11 VEHICLE INVERTERS MARKET, BY VEHICLE TYPE 86
11.1 INTRODUCTION 87
11.2 RESEARCH METHODOLOGY 87
11.3 PASSENGER CARS 89
11.3.1 VEHICLE INVERTERS FIND APPLICATION IN LOWER POWER USAGE DEVICES IN PASSENGER CARS 89
11.4 COMMERCIAL VEHICLES 90
11.4.1 VEHICLE INVERTERS ENABLE THE USAGE OF HOUSEHOLD ELECTRIC APPLIANCES IN COMMERCIAL VEHICLES 90
11.5 KEY INDUSTRY INSIGHTS 91
12 ELECTRIC VEHICLE INVERTERS MARKET, BY REGION 92
12.1 INTRODUCTION 93
12.2 ASIA PACIFIC 96
12.2.1 CHINA 98
12.2.1.1 Incentives and subsidy will push the growth of electric vehicles in China 98
12.2.2 INDIA 99
12.2.2.1 Favorable government policies will foster the growth of the electric vehicle industry 99
12.2.3 JAPAN 100
12.2.3.1 Major OEMs operating in Japan will foster the market for electric vehicles 100
12.2.4 SOUTH KOREA 101
12.2.4.1 Rise in sales of HEV and BEV vehicles is boosting the market for vehicle inverters in South Korea 101
12.3 NORTH AMERICA 102
12.3.1 CANADA 104
12.3.1.1 Government initiatives for the development of electric vehicle infrastructure will foster the growth of electric vehicles in Canada 104
12.3.2 MEXICO 105
12.3.2.1 Cheap labor cost is fueling the growth of the automotive industry in Mexico 105
12.3.3 US 106
12.3.3.1 Strict emission norms and huge expenditure on the development of electric vehicles are driving the development of vehicle inverters in the US market 106
12.4 EUROPE 107
12.4.1 FRANCE 109
12.4.1.1 Rising number of HEVs and PHEVs in France is boosting the market for vehicle inverters 109
12.4.2 GERMANY 110
12.4.2.1 High focus on reducing carbon emissions is driving the market for electric vehicles in Germany 110
12.4.3 NETHERLANDS 111
12.4.3.1 Netherlands has the highest adoption of electric vehicles driven by government incentives 111
12.4.4 NORWAY 112
12.4.4.1 Various tax exemption for electric vehicles such as road tax, purchase tax, registration tax, import tax, and annual tax is boosting the e-mobility 112

12.4.5 SWEDEN 113
12.4.5.1 Strong electric vehicle infrastructure 113
12.4.6 UK 114
12.4.6.1 UK is among the largest markets for electric vehicles in the Europe region 114
13 COMPETITIVE LANDSCAPE 115
13.1 OVERVIEW 115
13.2 MARKET RANKING ANALYSIS 117
13.3 COMPETITIVE SITUATIONS & TRENDS 118
13.3.1 NEW PRODUCT DEVELOPMENTS 119
13.3.2 EXPANSIONS 121
13.3.3 PARTNERSHIPS/SUPPLY CONTRACTS/COLLABORATIONS/ JOINT VENTURES/AGREEMENTS/MERGERS & ACQUISITIONS 122
13.4 COMPETITIVE LEADERSHIP MAPPING 123
13.4.1 VISIONARY LEADERS 123
13.4.2 INNOVATORS 123
13.4.3 DYNAMIC DIFFERENTIATORS 124
13.4.4 EMERGING COMPANIES 124
14 COMPANY PROFILES 125
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
14.1 DENSO 125
14.2 DELPHI TECHNOLOGIES 128
14.3 CONTINENTAL AG 132
14.4 ROBERT BOSCH GMBH 135
14.5 MITSUBISHI ELECTRIC CORPORATION 137
14.6 HITACHI 140
14.7 VALEO 142
14.8 FUJI ELECTRIC 145
14.9 LEAR CORPORATION 147
14.10 TOSHIBA 148
14.11 ADDITIONAL COMPANY PROFILES 150
14.11.1 TOYOTA INDUSTRIES 150
14.11.2 CALSONIC KANSEI 150
14.11.3 SENSATA TECHNOLOGIES 150
14.11.4 SAMLEX EUROPE 151
14.11.5 METRIC MIND CORPORATION 151
14.11.6 XANTREX 151

14.11.7 AIMS POWER COMPACTS 151
14.11.8 STANLEY BLACK & DECKER 152
14.11.9 BESTEK CORP 152
14.11.10 ENERGIZER 152
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
15 APPENDIX 153
15.1 INSIGHTS FROM INDUSTRY EXPERTS 153
15.2 DISCUSSION GUIDE 154
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 157
15.4 AVAILABLE CUSTOMIZATIONS 159
15.4.1 VEHICLE INVERTERS MARKET, BY OUTPUT POWER, BY VALUE 159
15.5 RELATED REPORTS 159
15.6 AUTHOR DETAILS 160

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