Automotive Inverter Market Research Report Information by Inverter Type (Traction Inverter, and Soft Switching Inverter), By Propulsion Type (Battery Electric Vehicle, Plug in Hybrid Vehicle, and Hybrid Vehicle) By Material (Gallium Nitride, Silicon, Sili

Automotive Inverter Market Research Report Information by Inverter Type (Traction Inverter, and Soft Switching Inverter), By Propulsion Type (Battery Electric Vehicle, Plug in Hybrid Vehicle, and Hybrid Vehicle) By Material (Gallium Nitride, Silicon, Silicon Carbide, and Others) By Power Output (upto 200, 200kW-300kW, Above 400kW) By Technology (IGBT, mosfet) By Vehicle Type (Passenger Car, and Commercial Vehicles) By Voltage Output (Below 400 V, and Above 400 V) and By Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) – Industry Forecast Till 2033

According to projections, the automotive inverter market would increase at a compound annual growth rate (CAGR) of 14.8% from USD 2,957.53 million in 2023 to USD 13,333.7 million by 2033. Global Automotive inverters transform the battery's DC power output into AC power, which powers the motor. By adjusting the quantity and AC frequency of the Power Output delivered to the motor, the inverter may control the torque and speed of the motor as well as the vehicle's speed. Considering the limited area available for automotive inverters in comparison to other applications, high output density is a critical factor.

One of the most popular ways to store solar energy is the Tesla Power output, which is sold as an addition to a photovoltaic solar panel system. A large lithium solar battery called a Tesla Power wall is used to store the energy that solar panels on a house collect during the day. This zero-carbon strategy for Power Output generation and consumption is a great illustration of how mass transit can have a smaller negative environmental impact. Start-ups are currently advancing sustainable mobility and materials innovation. Additionally, solar technologies are being used to produce solar-electric cars. For the generation, storage, and home use of solar energy, Tesla is the only automaker to offer a full end-to-end solution. Yet, a lot of other companies offer at least a partially substitute, such as ABB Solar, Fortress Power Output, Goal Zero, and LG.

Market Segment Insights
Battery electric vehicles, plug-in hybrid vehicles, and hybrid vehicles are included in the Automotive Inverter Market segmentation based on Propulsion Type.
The market is divided into silicon, silicon carbide, gallium nitride, and other segments based on the material.
The market is divided into three segments based on power output: up to 200 kW, 200 kW to 400 kW, and over 400 kW.

Regional Perspectives
The report offers market insights by region for the following regions: North America, Europe, Asia-Pacific, Middle East & Africa, and South America. At over 41.40% of the global market in 2023, the Asia-Pacific Automotive Inverter market holds a sizable position. The Asia Pacific automotive inverter market is driven by the ongoing need for automotive inverters and the creation of more vehicles. The demand for the Asia-Pacific automotive engine automotive inverter has also been significantly influenced by rising government regulations aimed at enhancing vehicle safety.

North America, especially the US, continues to be a long-term growth market for the automotive inverter industry because of the region's anticipated volume of truck and bus manufacturing as well as the growing uptake of efficiency and safety technologies in vehicles. The huge and aging light vehicle park and the greater average number of kilometers driven by each light vehicle are other reasons driving the North American market.

In the meanwhile, the European continent stands out as a strong competitor with significant market potential in 2023. Due to an increase in industrial expansion, rising automotive inverter demand, and encouraging government road safety measures, the Europe automotive inverter market is predicted to experience considerable growth.

Principal Players
The major companies in the global market are Valeo, Robert Bosch, BorgWarner Inc., Toyota Industries Corporation, Infineon, NXP Semiconductors, STMicroelectronics, Marelli, Lear Corporation, SensataTechnologies, Inc., Mitsubishi Electric Corporation, Nissan Motor Corporation, Danfoss, Continental AG, Denso Corporation, and others.