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Automotive Traction Inverters Market Research Report: By Vehicle Technology (BEV, PHEV, HEV), Vehicle Type (Passenger Car, Commercial Truck), Inverter Technology (IGBT, MOSFET): Global Industry Analysis and Demand Forecast to 2030

  • Publishing: May 2021
  • Report Code: AT11814
  • Available Format: PDF

Automotive Traction Inverters Market Overview

The global automotive traction inverters market is projected to witness tremendous growth during the forecast period (2020–2030). The traction inverter converts the direct current (DC) from electric vehicle (EV) battery to alternating current (AC) to propel the vehicle. The traction inverter has direct impact on distance covered with per charge and overall performance of the vehicle. Growth of this is mainly driven by the tremendous demand for EVs and hybrid electric vehicles (HEV) in various regions worldwide. Increasing norms related to vehicle emission limit and targets related to reduction in the sale of new internal combustion engine (ICE) vehicles in the coming years are projected to boost the global market.

Based on vehicle technology, the automotive traction inverters market is categorized into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and HEV. Among these, BEV is estimated to possess largest share in the overall demand for traction inverters during the forecast period, mainly due to the growing sales of these vehicles in recent past years. Higher support from government in the form of subsidies and incentives on the purchase of BEVs has led to huge sales of these vehicles in recent years in China, the U.S., and several other countries.

In terms of vehicle type, the automotive traction inverters market is categorized into passenger car and commercial truck. Between these, the passenger car category grew at faster rate during the historical period (2015–2019). It is mainly due to huge sales of passenger cars. For instance, in 2018, the sale of electric passenger cars increased by over 68% from 2017 and reached to 1.9 million units. Additionally, the electrification in commercial trucks, especially in medium and heavy trucks, is still in nascent phase, which further supports the growth in the sales of electric passenger cars.

Under the inverter technology segment, the automotive traction inverters market is categorized into insulated-gate bipolar transistor (IGBT) and metal-oxide-semiconductor field-effect transistor (MOSFET). The market for IGBT category is expected to hold larger share during the forecast period. It can be due to growing requirement of highly power efficient EVs at lower cost.

Geographically, the automotive traction inverters market is categorized into North America; Europe; Asia-Pacific (APAC); and Latin America, Middle East, and Africa (LAMEA). Among all these regions, APAC holds the largest share in the automotive traction inverters market, due to high production and sales of HEVs and BEVs mainly in China, Japan, and South Korea. For instance, electric car sales in China stood at 1.1 million in 2018.

Automotive Traction Inverters Market Dynamics

Trends

Increasing use of advanced semiconductors is a major trend observed in the automotive traction inverters market. Electric vehicle manufacturers are constantly developing advance technologies for the enhancements in the electric vehicle performance, such as increase in distance covered per charge and reduction the charging time, without increasing the vehicle weight. For this, many automakers use silicon carbide (SiC) and gallium nitride (GaN) semiconductors, which offer high switching frequency and high operating temperature, and reduce charging time for batteries operating at high voltages. Hence, use of advanced semiconductors to meet high efficiency requirements in automotive traction inverters is a trend in the market.

Drivers

The increasing production and sales of EVs is the major growth-propelling factor for the automotive traction inverters market. Globally, governments are pushing vehicle manufacturers to increase the share of EVs in their overall vehicle production. Further, governments in many countries are providing subsidies and incentives to the manufacturers and buyers of EVs with the purpose of replacing the country’s entire conventional vehicle fleet with these vehicles in upcoming years, which, in turn, drives the growth of the market.

Automotive Traction Inverters Market Competitive Landscape

The global automotive traction inverters market is currently led by key players including Denso Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Aptiv plc, Continental AG, and Hitachi Automotive Systems Ltd. The players are currently forming partnerships for gaining the competitive advantages.

The report covers country-wise automotive traction inverters market analysis. Some of the major countries covered in the report are the U.S., Canada, the U.K., France, Germany, Norway, Sweden, the Netherlands, Russia, Italy, China, Japan, India, South Korea, Australia, Brazil, Argentina, Mexico, South Africa, and the U.A.E.

Automotive Traction Inverters Market Segmentation

By Vehicle Technology

  • Battery Electric Vehicle (BEV)
  • Plug-In Hybrid Electric Vehicle (PHEV)
  • Hybrid Electric Vehicle (HEV)

By Vehicle Type

  • Passenger Car
  • Commercial Truck

By Inverter Technology

  • Insulated-Gate Bipolar Transistor (IGBT)
  • Metal-Oxide-Semiconductor Field-Effect Transistor (MOSFET)

By Region

  • North America Automotive Traction Inverters Market
    • By vehicle technology
    • By vehicle type
    • By inverter technology
    • By country – U.S. and Canada
  • Europe Automotive Traction Inverters Market
    • By vehicle technology
    • By vehicle type
    • By inverter technology
    • By country – U.K., France, Germany, Norway, Netherlands, Sweden, Russia, Italy, and Rest of Europe
  • Asia-Pacific (APAC) Automotive Traction Inverters Market
    • By vehicle technology
    • By vehicle type
    • By inverter technology
    • By country – China, Japan, India, South Korea, Australia, and Rest of APAC
  • Latin America, Middle East, and Africa (LAMEA) Automotive Traction Inverters Market
    • By vehicle technology
    • By vehicle type
    • By inverter technology
    • By country – Brazil, Argentina, Mexico, South Africa, U.A.E., and Rest of LAMEA
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