The Asia Pacific Electric Vehicle Power Inverter Market is expected to witness market growth of 10.9% CAGR during the forecast period (2022-2028).
In order to lead the power electronics technology in the market, a number of researchers are focusing on the entire spectrum of electronic engineering and development, encompassing inverters, power electronics, and DC/DC converters. An electric vehicle power inverter is also known as an electrical transformer and converts 12-volt direct current to 120-volt alternating current. This makes it possible for the customer to use small electrical equipment that is typically plugged into a wall outlet.
When the engine is operating, the battery and alternator power the 12-volt DC electrical system in a car. Users can access the system through the inverter and use a little quantity of power to run 120-volt AC gadgets. Modified sine wave and pure sine wave power inverters are the two different forms. A majority of small devices can be powered by modified sine wave inverters, which are more cost-effective and more prevalent.
The transportation industry in India is very strong, however, the demand for fuels is significantly higher than its supply. According to the Indian Bureau of energy efficiency, in India, the transport industry uses 18% of the country's total energy. This equates to around 94 million tons of energy equivalent. By 2030, India is expected to need an estimated 200 MTOE of energy supply yearly to meet the demand of this industry if it continued its current patterns of energy use.
The China market dominated the Asia Pacific Electric Vehicle Power Inverter Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $1,973.1 million by 2028. The Japan market is estimated to grow a CAGR of 10.3% during (2022 - 2028). Additionally, The Taiwan market is expected to witness a CAGR of 11.8% during (2022 - 2028).
Based on Inverter Type, the market is segmented into Traction Inverter and Soft Switching Inverter. Based on Propulsion, the market is segmented into Battery Electric Vehicle, Plug in Hybrid Vehicle, and Hybrid Vehicle. Based on Level of Integration, the market is segmented into Integrated Inverter System, Separate Inverter System, and Mechatronic Integration System. Based on Vehicle Type, the market is segmented into Passenger Vehicle and Commercial Vehicle. Based on Distribution Channel, the market is segmented into OEM and Aftermarket. Based on countries, the market is segmented into China, Japan, Taiwan, India, South Korea, Singapore, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Continental AG, Robert Bosch GmbH, Denso Corporation, Valeo SA, Mitsubishi Electric Corporation, Aptiv PLC, Toyota Industries Corporation, Nissan Motor Corporation and Marelli.
In order to lead the power electronics technology in the market, a number of researchers are focusing on the entire spectrum of electronic engineering and development, encompassing inverters, power electronics, and DC/DC converters. An electric vehicle power inverter is also known as an electrical transformer and converts 12-volt direct current to 120-volt alternating current. This makes it possible for the customer to use small electrical equipment that is typically plugged into a wall outlet.
When the engine is operating, the battery and alternator power the 12-volt DC electrical system in a car. Users can access the system through the inverter and use a little quantity of power to run 120-volt AC gadgets. Modified sine wave and pure sine wave power inverters are the two different forms. A majority of small devices can be powered by modified sine wave inverters, which are more cost-effective and more prevalent.
The transportation industry in India is very strong, however, the demand for fuels is significantly higher than its supply. According to the Indian Bureau of energy efficiency, in India, the transport industry uses 18% of the country's total energy. This equates to around 94 million tons of energy equivalent. By 2030, India is expected to need an estimated 200 MTOE of energy supply yearly to meet the demand of this industry if it continued its current patterns of energy use.
The China market dominated the Asia Pacific Electric Vehicle Power Inverter Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $1,973.1 million by 2028. The Japan market is estimated to grow a CAGR of 10.3% during (2022 - 2028). Additionally, The Taiwan market is expected to witness a CAGR of 11.8% during (2022 - 2028).
Based on Inverter Type, the market is segmented into Traction Inverter and Soft Switching Inverter. Based on Propulsion, the market is segmented into Battery Electric Vehicle, Plug in Hybrid Vehicle, and Hybrid Vehicle. Based on Level of Integration, the market is segmented into Integrated Inverter System, Separate Inverter System, and Mechatronic Integration System. Based on Vehicle Type, the market is segmented into Passenger Vehicle and Commercial Vehicle. Based on Distribution Channel, the market is segmented into OEM and Aftermarket. Based on countries, the market is segmented into China, Japan, Taiwan, India, South Korea, Singapore, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Continental AG, Robert Bosch GmbH, Denso Corporation, Valeo SA, Mitsubishi Electric Corporation, Aptiv PLC, Toyota Industries Corporation, Nissan Motor Corporation and Marelli.
Scope of the Study
Market Segments Covered in the Report:
By Inverter Type- Traction Inverter
- Soft Switching Inverter
- Battery Electric Vehicle
- Plug in Hybrid Vehicle
- Hybrid Vehicle
- Integrated Inverter System
- Separate Inverter System
- Mechatronic Integration System
- Passenger Vehicle
- Commercial Vehicle
- OEM
- Aftermarket
- China
- Japan
- India
- South Korea
- Singapore
- Taiwan
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Siemens AG
- Continental AG
- Robert Bosch GmbH
- Denso Corporation
- Valeo SA
- Mitsubishi Electric Corporation
- Aptiv PLC
- Toyota Industries Corporation
- Nissan Motor Corporation
- Marelli
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Asia Pacific Electric Vehicle Power Inverter Market by Inverter Type
Chapter 4. Asia Pacific Electric Vehicle Power Inverter Market by Propulsion
Chapter 5. Asia Pacific Electric Vehicle Power Inverter Market by Level of Integration
Chapter 6. Asia Pacific Electric Vehicle Power Inverter Market by Vehicle Type
Chapter 7. Asia Pacific Electric Vehicle Power Inverter Market by Distribution Channel
Chapter 8. Asia Pacific Electric Vehicle Power Inverter Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Siemens AG
- Continental AG
- Robert Bosch GmbH
- Denso Corporation
- Valeo SA
- Mitsubishi Electric Corporation
- Aptiv PLC
- Toyota Industries Corporation
- Nissan Motor Corporation
- Marelli
Methodology
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