US Electric Vehicle Power Inverter Market Size study, by Propulsion Type (Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicle, Battery Electric Vehicle, Fuel Cell Electric Vehicle) by Vehicle Type (Passenger Cars, Commercial Vehicles) Forecasts 2022-2032
US Electric Vehicle Power Inverter Market is valued approximately at USD 930 million in 2023 and is anticipated to grow with a healthy growth rate of more than 25.52% over the forecast period 2024-2032. An electric vehicle (EV) power inverter is a crucial component of electric vehicle that translates the direct current (DC) stored in the vehicle's battery into alternating current (AC) to drive the electric motor. This conversion is essential because most electric motors operate on AC, while batteries store energy in DC form. Additionally, it can convert AC back to DC during regenerative braking, recharging the battery and enhancing the vehicle's efficiency and range. With growing concerns about climate change and the push towards sustainable transportation, the adoption of electric vehicles is on the rise. Furthermore, technological advancement in power electronics are continually improving the efficiency and performance of power inverters used in electric vehicles. Manufacturers are focusing on developing inverters with higher power density, improved thermal management, and enhanced reliability. These trends expected to drive demand for US Electric Vehicle Power Inverter Market.
Advancements in power electronics are playing a pivotal role in driving demand for the US electric vehicle (EV) power inverter market. As electric vehicles become increasingly prevalent, there's a growing emphasis on enhancing the efficiency, performance, and reliability of power conversion systems. Technological breakthroughs, such as the adoption of silicon carbide (SiC) and gallium nitride (GaN) semiconductors, are revolutionizing power electronics by offering higher efficiency and power density compared to traditional silicon-based inverters. These advancements result in more energy-efficient electric vehicles, longer driving ranges, and faster charging times, all of which are critical factors in accelerating EV adoption. Moreover, the integration of advanced thermal management systems and the use of smart algorithms for optimal power delivery further enhance the appeal of EVs. As a result, the demand for innovative power inverters is on the rise, driven by the need to meet the evolving requirements of the expanding electric vehicle market in the United States. However, demand for power inverters and a concern about range anxiety and charging times can stifle market growth between 2022 and 2032.
Major market player included in this report are:
CWB Automotive Electronics Co., Ltd.
Lear Corporation
John Deere Electronic Solutions
Company 4
Company 5
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
Hybrid Electric Vehicles
Plug-in Hybrid Electric Vehicle
Battery Electric Vehicle
Fuel Cell Electric Vehicle
By Vehicle Type
Passenger Cars
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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- Chapter 1. US Electric Vehicle Power Inverter Market Definition and Research Assumptions
- 1.1. Research Objective
- 1.2. Market Definition
- 1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
- 1.3.3.1. Availability
- 1.3.3.2. Infrastructure
- 1.3.3.3. Regulatory Environment
- 1.3.3.4. Market Competition
- 1.3.3.5. Economic Viability (Consumer’s Perspective)
- 1.3.4. Demand Side Analysis
- 1.3.4.1. Regulatory frameworks
- 1.3.4.2. Technological Advancements
- 1.3.4.3. Environmental Considerations
- 1.3.4.4. Consumer Awareness & Acceptance
- 1.4. Estimation Methodology
- 1.5. Years Considered for the Study
- 1.6. Currency Conversion Rates
- Chapter 2. Executive Summary
- 2.1. US Electric Vehicle Power Inverter Market Size & Forecast (2022- 2032)
- 2.2. Segmental Summary
- 2.2.1. By Propulsion Type
- 2.2.2. By Vehicle Type
- 2.3. Key Trends
- 2.4. Recession Impact
- 2.5. Analyst Recommendation & Conclusion
- Chapter 3. US Electric Vehicle Power Inverter Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Challenges
- 3.3. Market Opportunities
- Chapter 4. US Electric Vehicle Power Inverter Market: Industry Analysis
- 4.1. Porter’s 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter’s 5 Force Model
- 4.1.7. Porter’s 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economic
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
- Chapter 5. US Electric Vehicle Power Inverter Market Size & Forecasts by Propulsion Type 2022-2032
- 5.1. Hybrid Electric Vehicles
- 5.2. Plug-in Hybrid Electric Vehicle
- 5.3. Battery Electric Vehicle
- 5.4. Fuel Cell Electric Vehicle
- Chapter 6. US Electric Vehicle Power Inverter Market Size & Forecasts by Vehicle Type 2022-2032
- 6.1. Passenger Cars
- 6.2. Commercial Vehicles
- Chapter 7. Competitive Intelligence
- 7.1. Key Company SWOT Analysis
- 7.1.1. Company 1
- 7.1.2. Company 2
- 7.1.3. Company 3
- 7.2. Top Market Strategies
- 7.3. Company Profiles
- 7.3.1. CWB Automotive Electronics Co., Ltd.
- 7.3.1.1. Key Information
- 7.3.1.2. Overview
- 7.3.1.3. Financial (Subject to Data Availability)
- 7.3.1.4. Product Summary
- 7.3.1.5. Market Strategies
- 7.3.2. Lear Corporation
- 7.3.3. John Deere Electronic Solutions
- 7.3.4. Company 4
- 7.3.5. Company 5
- 7.3.6. Company 6
- 7.3.7. Company 7
- 7.3.8. Company 8
- 7.3.9. Company 9
- 7.3.10. Company 10
- Chapter 8. Research Process
- 8.1. Research Process
- 8.1.1. Data Mining
- 8.1.2. Analysis
- 8.1.3. Market Estimation
- 8.1.4. Validation
- 8.1.5. Publishing
- 8.2. Research Attributes
- List of Tables
- TABLE 1. US Electric Vehicle Power Inverter market, report scope
- TABLE 2. US Electric Vehicle Power Inverter market estimates & forecasts by Propulsion Type 2022-2032 (USD Million)
- TABLE 3. US Electric Vehicle Power Inverter market estimates & forecasts by Vehicle Type 2022-2032 (USD Million)
- TABLE 4. US Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Million)
- TABLE 5. US Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Million)
- TABLE 6. US Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Million)
- TABLE 7. US Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Million)
- TABLE 8. US Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Million)
- TABLE 9. U.S. Electric Vehicle Power Inverter market estimates & forecasts, 2022-2032 (USD Million)
- TABLE 10. U.S. Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Million)
- TABLE 11. U.S. Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Million)
- TABLE 12. List of secondary sources, used in the study of US Electric Vehicle Power Inverter Market.
- TABLE 13. List of primary sources, used in the study of US Electric Vehicle Power Inverter Market.
- TABLE 14. Years considered for the study.
- TABLE 15. Exchange rates considered.
- List of figures
- FIGURE 1. US Electric Vehicle Power Inverter market, research methodology
- FIGURE 2. US Electric Vehicle Power Inverter market, market estimation techniques
- FIGURE 3. US market size estimates & forecast methods.
- FIGURE 4. US Electric Vehicle Power Inverter market, key trends 2023
- FIGURE 5. US Electric Vehicle Power Inverter market, growth prospects 2022-2032
- FIGURE 6. US Electric Vehicle Power Inverter market, porters 5 force model
- FIGURE 7. US Electric Vehicle Power Inverter market, pestel analysis
- FIGURE 8. US Electric Vehicle Power Inverter market, value chain analysis
- FIGURE 9. US Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Million)
- FIGURE 10. US Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Million)
- FIGURE 11. US Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Million)
- FIGURE 12. US Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Million)
- FIGURE 13. US Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Million)
- FIGURE 14. US Electric Vehicle Power Inverter market, company market share analysis (2023)
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