Global EVs Inverter Heat Sink Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global EVs Inverter Heat Sink Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

EVs Inverter Heat Sink is an effective solution for dissipating heat from inverters in electric vehicles. Inverters transfer power between the motors and batteries and are one of the critical components in an electric vehicle. The inverter converts DC to AC when power is required to drive the electric motors and converts in the opposite direction during regenerative braking. The main component inside the inverter is the IGBT (insulated gate bipolar transistor), and it generates heat. The electronic components inside the inverter are very sensitive to temperature. The high temperature caused by high power density will seriously affect most of the electronic components, leading to the failure of the electronic components, which in turn leads to the failure of the entire inverter. So, the Inverter Heat Sink is very important.

Market Overview:

The latest research study on the global EVs Inverter Heat Sink market finds that the global EVs Inverter Heat Sink market reached a value of USD 1634.98 million in 2022. It’s expected that the market will achieve USD 4407.01 million by 2028, exhibiting a CAGR of 17.97% during the forecast period.

Influence of COVID-19 Outbreak on EVs Inverter Heat Sink Industry Development

The COVID-19 epidemic spread to more than 210 countries and regions around the world in three months, affecting nearly 7 billion people. The coronavirus epidemic has impacted all aspects of human health, economic growth, social development, national security, and international relations. It is a comprehensive challenge. The epidemic has drastically reversed expectations of moderate growth in the world economy in early 2020. After the outbreak, the employment situation in various countries has become more severe. Global investors panic, triggering turmoil in the financial and capital markets. The epidemic has caused huge losses to related industries and international trade. From the perspective of the general background, exports, consumption, and investment are driving the economy. After the outbreak of the epidemic, consumption, exports, and investment have all been affected to some extent. Therefore, the global economic downturn is inevitable.
More than one million lives have been lost to COVID-19 since the start of 2020 and the toll continues to rise. Many more have suffered a serious illness. Close to 90 million people are expected to fall into extreme deprivation this year. Compared with the IMF report released in June, the global economic contraction in 2020 will not be as severe as previously predicted. This revision reflects a better-than-expected economic recovery in the second quarter. Global growth is projected at 5.2 percent in 2021, a little lower than in the June 2020 WEO Update, reflecting the more moderate downturn projected for 2020 and consistent with expectations of persistent social distancing. This is the worst global recession in decades, despite the huge efforts of governments with the support of fiscal and monetary policies to deal with the economic downturn. But from a long-term perspective, it is expected that the severe recession caused by the pandemic will cause a prolonged economic depression by reducing investment. Should COVID-19 outbreaks persist, should restrictions on movement be extended or reintroduced, or should disruptions to economic activity be prolonged, the recession could be deeper. Businesses might find it hard to service debt, heightened risk aversion could lead to climbing borrowing costs, and bankruptcies and defaults could result in financial crises in many countries. Under such unfavorable circumstances, there will still be a possibility of a global decline in 2021.

Strength

The continuous development of economy and technology.
The electric vehicle market continues to expand.

Weakness

The prices of raw materials such as copper and aluminum fluctuate.
Market competition in the industry is becoming increasingly fierce.

Opportunity

The development of new technologies and the launch of new products.
Some developing or relatively backward countries are expanding the electric vehicle market.

Threat

Alternative products or similar products occupy market share.
The market has not developed as expected.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

Dana is one of the major players operating in the EVs Inverter Heat Sink market, holding a share of 56.82% in 2021.

Dana Incorporated (Dana) is an American supplier of axles, driveshafts, transmissions, and electrodynamic, thermal, sealing, and digital equipment for conventional, hybrid, and electric-powered vehicles. The company's products and services are aimed at the light vehicle, commercial vehicle, and off-highway equipment markets.

Boyd Corporation is a world-leading innovator of technologies in material science, engineered material, and thermal management that seal, protect, interface with, and cool our customers’ most critical applications.

Segmentation Overview:

Among different product types, Aluminum Heat Sink segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the HEV segment occupied the biggest share from 2017 to 2022.

A hybrid electric vehicle (HEV) is a type of hybrid vehicle that combines a conventional internal combustion engine (ICE) system with an electric propulsion system (hybrid vehicle drivetrain). The presence of the electric powertrain is intended to achieve either better fuel economy than a conventional vehicle or better performance. The HEV has an inverter that transmits power between the motor and the battery, which is one of the key components. Therefore, HEV needs Inverter Heat Sink to maintain work efficiency.

A plug-in hybrid electric vehicle (PHEV) is a hybrid electric vehicle whose battery pack can be recharged by plugging a charging cable into an external electric power source, in addition to internally by its on-board internal combustion engine-powered generator. The PHEV has an inverter that transmits power between the motor and the battery, which is one of the key components. Therefore, PHEV needs Inverter Heat Sink to maintain work efficiency.
A battery electric vehicle (BEV), pure electric vehicle, only-electric vehicle, fully electric vehicle or all-electric vehicle is a type of electric vehicle (EV) that exclusively uses chemical energy stored in rechargeable battery packs, with no secondary source of propulsion. BEVs use electric motors and motor controllers instead of internal combustion engines (ICEs) for propulsion. They derive all power from battery packs and thus have no internal combustion engine, fuel cell, or fuel tank. The BEV has an inverter that transmits power between the motor and the battery, which is one of the key components. Therefore, BEV needs Inverter Heat Sink to maintain work efficiency.
A fuel cell vehicle (FCV) or fuel cell electric vehicle (FCEV) is an electric vehicle that uses a fuel cell, sometimes in combination with a small battery or supercapacitor, to power its onboard electric motor. Fuel cells in vehicles generate electricity generally using oxygen from the air and compressed hydrogen. The FCEV has an inverter that transmits power between the motor and the battery, which is one of the key components. Therefore, FCEV needs Inverter Heat Sink to maintain work efficiency.

Key Companies in the global EVs Inverter Heat Sink market covered in Chapter 3:

Mikros Technologies
Walmate
Boyd Corp
Cooliance
Senior Flexonics
Cooling Source
Dana

In Chapter 4 and Chapter 14.2, on the basis of types, the EVs Inverter Heat Sink market from 2018 to 2029 is primarily split into:

Aluminum Heat Sink
Copper Heat Sink
Copper Aluminum Heat Sink

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the EVs Inverter Heat Sink market from 2018 to 2029 covers:

HEV
PHEV
BEV
FCEV

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)