South America 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

South America 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 SAM is expected to grow from US$ 698.62 million in 2022 to US$ 1,291.96 million by 2028. It is estimated to grow at a CAGR of 10.8% from 2022 to 2028.

High demand for lithium-ion battery

The production of automotive lithium-ion battery was 160 GWh in 2020 with an increase of 33% from 2019. Thus, rise is attributed to 41% increase in electric car registrations and constant average battery capacity of 55 KWh and 14 kWH for BEVs and PHEVs, respectively. The increase of 10% has been registered for other modes of transport. Although the market share of lithium-ion phosphate batteries has increased, it is still less than 4%. The weighted average cost of automotive batteries declined by 13% in 2020 form 2019, reaching USD 137/KWh at a pack level as per BNEFs yearly survey of battery prices. Low pricing is made available for large quantities of purchases, which is supported by a teardown investigation of a VW ID3 that revealed an approximate cost of USD 100/KWh for its battery cells. As most of the plug-in hybrids and all the electric vehicles use lithium-ion batteries higher demand for the same is attributed to drive the growth of the market.

Market Overview

The traction inverter market in SAM is primarily categorized into Brazil and Argentina. The Rest of the SAM countries include Chile, Colombia, Guatemala, and Peru. SAM economies mainly depend upon imported goods and commodities. However, with the rise in FDIs, several industries are coming up and contributing substantially to the respective country’s GDP. Rapid urbanization, rising environmental concerns, traffic congestion, evolving mobility patterns, and government initiatives to promote public transportation are expected to drive demand for electric buses in SAM throughout the forecast period. Many countries in the region employ electric vehicles to cut emissions and air pollution. Although some are ahead of the curve, others are still lagging. According to the United Nations Environment Programme's Integrated Assessment of Short-Lived Climate Pollutants in SAM and the Caribbean assessment, around 64,000 persons in SAM and the Caribbean die prematurely each year due to air pollution produced by vehicles.

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

SAM Traction Inverter Market Segmentation

The SAM 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 SAM 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 SAM 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 SAM traction inverter market is segmented into passenger cars, commercial vehicles, and others. The passenger cars segment registered the largest market share in 2022. Based on country, the market is segmented into Brazil, Argentina, and the Rest of SAM. The Rest of SAM 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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