US Automotive Traction Inverters Market Size study, by Propulsion Type (BEV, HEV, PHEV) by Output Power (Less Than or Equal to 130 kW, More Than 130 kW), by Semiconductor Material (Gallium Nitride (GaN), Silicon (Si), Silicon Nitride (SiC)) by Technology

US Automotive Traction Inverters Market Size study, by Propulsion Type (BEV, HEV, PHEV) by Output Power (Less Than or Equal to 130 kW, More Than 130 kW), by Semiconductor Material (Gallium Nitride (GaN), Silicon (Si), Silicon Nitride (SiC)) by Technology Type (IGBT, MOSFET), by Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles) Forecasts 2022-2032

US Automotive Traction Inverters Market is valued approximately USD 1.18 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 16.87% over the forecast period 2024-2032. An automotive traction inverter is a vital component in electric and hybrid vehicles. It converts the direct current (DC) from the vehicle's battery pack into alternating current (AC) to power the electric motor or motors. This conversion is essential for managing the motor's speed and torque, ensuring the vehicle operates efficiently and smoothly. Additionally, traction inverters are integral to regenerative braking systems, where they convert the kinetic energy generated during braking back into electrical energy, which can then be stored in the battery pack for future use. Automakers in the US are placing a strong emphasis on improving the performance and efficiency of electric vehicles. This trend is driving the development of more advanced traction inverters capable of delivering higher power output, faster response times, and greater energy efficiency, enhancing the overall driving experience.

The United States is experiencing a rapid increase in the adoption of electric vehicles, driven by factors such as environmental concerns, government incentives, and improvements in battery technology. This surge in EV adoption directly correlates with the demand for automotive traction inverters, which are essential components of electric drivetrains. Moreover, Government incentives, such as tax credits and subsidies for electric vehicle purchases, and stringent emissions regulations are driving automakers to invest in electric and hybrid vehicles, thus boosting the demand for traction inverters. Thus, rising electric vehicles adoption in the region is fostering market growth. Furthermore, US Automotive Traction Inverters Market is driven by focus on domestic manufacturing and rising technological advancement in the inverters. However, high cost of inverters and availability of substitutes technology stifle market growth between 2022 and 2032.

Major market player included in this report are:
Tesla, Inc.
General Motors (GM)
Ford Motor Company
Lucid Motors
BorgWarner Inc
Company 6
Company 7
Company 8
Company 9
Company 10

The detailed segments and sub-segment of the market are explained below:

By Propulsion Type
BEV
HEV
PHEV

By Output Power
Less Than or Equal to 130 kW
More Than 130 kW

By Semiconductor Material:
Gallium Nitride (GaN)
Silicon (Si)
Silicon Nitride (SiC)

By Technology Type:
IGBT
MOSFET

By Vehicle Type:
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and Country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market

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