Middle East & Africa Traction Inverter Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Propulsion type (BEV, HEV, PHEV, and Others), Voltage type (Up to 200V, 200 to 900V, and 900v and above), Technology type (IGBT, MOSFET, and Others

Middle East & Africa Traction Inverter Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Propulsion type (BEV, HEV, PHEV, and Others), Voltage type (Up to 200V, 200 to 900V, and 900v and above), Technology type (IGBT, MOSFET, and Others), and Vehicle type (Passenger Cars, Commercial Vehicles, and Others)   

The traction inverter market in MEA is expected to grow from US$ 1,085.07 million in 2022 to US$ 2,195.12 million by 2028. It is estimated to grow at a CAGR of 12.5% from 2022 to 2028.

Increasing adoption of advanced technologies

Government initiatives play as a key driving force for the electric car markets. The idea that electric vehicles are the future of transportation has gained support in part due to announcements, goals, and the introduction of new models. Concurrently, the enormous success of electric vehicles was hampered by limited supplies of component parts and rising prices for bulk materials, elevating supply-side issues to the top agenda for both government and business. Many governments, as well as a number of automakers, set goals to gradually end the sale of internal combustion engine vehicles during the period of 2020 and 2021. For many governments and the auto industry, electric vehicles have emerged as the preferred road transportation technology.

Market Overview

The Traction Inverter Market in MEA comprises countries such as South Africa, Saudi Arabia, UAE, and Rest of MEA. The automotive sector in these countries is growing at a steady pace. The region's rising demand for commercial vehicles might be attributed to increased development and infrastructure operations in many countries. In the coming time zone, the Middle East Traction Market is expected to increase. Despite an increase in sales in the automobile sector, Turnkey manufacturing has been hampered by a shortage of chips. However, in the coming years, semiconductor production will increase due to the consistent rise in vehicles sales. Additionally, the region depends on nearby production facilities to provide parts for the defense industry. The National Electronics and Cryptology Research Institute, for instance, is striving to manufacture components at its semiconductor Technologies Research Laboratory. The growth of the automobile market will be considerably aided by this.

MEA Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

MEA Traction Inverter Market Segmentation

The MEA traction inverter market is segmented into propulsion type, voltage type, technology type, vehicle type, and country. Based on propulsion type, the market is segmented into BEV, HEV, PHEV, and others. The BEV segment registered the largest market share in 2022.

Based on voltage type, the MEA traction inverter market is segmented 200V, 200 to 900V, 900V and above. The 200 to 900V segment registered the largest market share in 2022. Based on technology type, the MEA traction inverter market is segmented into IGBT, MOSFET and others. The MOSFET segment registered the largest market share in 2022. Based on vehicle type, the MEA traction inverter market is segmented into passenger cars, commercial vehicles, and others. The commercial vehicles segment registered the largest market share in 2022. Based on country, the market is segmented into South Africa, Saudi Arabia, UAE, and Rest of MEA. UAE dominated the market share in 2022.

BorgWarner Inc.; Continental AG; Curtiss-Wright Industrial Group; Dana TM4; Delphi Technologies Plc; Hitachi, Ltd.; Mitsubishi Electric Corporation; Siemens AG; Toshiba Corporation; and Voith GmbH & Co. KGaA are the leading companies operating in the traction inverter market in the region.

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