The traction inverter market in Europe is expected to grow from US$ 3,617.16 million in 2022 to US$ 9,064.62 million by 2028. It is estimated to grow at a CAGR of 16.5% from 2022 to 2028.
Increasing demand of electric and hybrid electric vehicles
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
Europe Traction Inverter Market Segmentation
The Europe 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 Europe 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 Europe 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 Europe 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 Germany, France, Italy, UK, Russia, and Rest of Europe. UK dominated the market share in 2022.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Traction Inverter Market- By Voltage type
1.3.2 Europe Traction Inverter Market- By Technology type
1.3.3 Europe Traction Inverter Market- By Vehicle type
1.3.4 Europe Traction Inverter Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Traction Inverter Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Traction Inverter Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand of Electric and Hybrid Electric Vehicles
5.1.2 High demand for lithium-ion battery
5.2 Market Restraints
5.2.1
Shortage of semiconductors and chips5.3 Market Opportunities5.3.1 Government and market players initiatives to booster the market growth
5.4 Future Trends
5.4.1 Adoption of Advanced Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Traction Inverter Market- Europe Market Analysis
6.1 Europe Traction Inverter Market Overview
6.2 Europe Traction Inverter Market Forecast and Analysis
7. Europe Traction Inverter Market Revenue and Forecast to 2028 - Propulsion type
7.1 Overview
7.2 Europe Traction Inverter Market, By Propulsion type (2021 And 2028)
7.3 BEV
7.3.1 Overview
7.3.2 BEV: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
7.4 HEV
7.4.1 Overview
7.4.2 HEV: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
7.5 PHEV
7.5.1 Overview
7.5.2 PHEV: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
8. Europe Traction Inverter Market Revenue and Forecast to 2028 - Voltage type
8.1 Overview
8.2 Europe Traction Inverter Market, By Voltage type (2021 And 2028)
8.3 Up to 200V
8.3.1 Overview
8.3.2 Up to 200V: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
8.4 to 900V
8.4.1 Overview
8.4.2 to 900V: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
8.5V and above
8.5.1 Overview
8.5.2V and above: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
9. Europe Traction Inverter Market Revenue and Forecast to 2028 - Technology type
9.1 Overview
9.2 Europe Traction Inverter Market, By Technology type (2021 And 2028)
9.3 IGBT
9.3.1 Overview
9.3.2 IGBT: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
9.4 MOSFET
9.4.1 Overview
9.4.2 MOSFET: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Traction Inverter Market - Revenue and Forecast to 2028 (US$ Million)
10. Europe Traction Inverter Market - By Vehicle Type
10.1 Overview
10.2 Europe Traction Inverter Market, by Vehicle Type (2021 and 2028)
10.3 Passenger Cars
10.3.1 Overview
10.3.2 Passenger Cars: Traction Inverter Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Commercial Vehicles
10.4.1 Overview
10.4.2 Commercial Vehicles: Traction Inverter Market - Revenue and Forecast to 2028 (US$ Million)
10.5 Others
10.5.1 Overview
10.5.2 Others: Traction Inverter Market - Revenue and Forecast to 2028 (US$ Million)
11. Europe Traction Inverter Market- Country Analysis
11.1 Overview
11.1.1 Europe: Traction Inverter, by Key Country
11.1.1.1 Germany: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Germany: Traction Inverter Market, By Propulsion type
11.1.1.1.2 Germany: Traction Inverter Market, By Voltage type
11.1.1.1.3 Germany: Traction Inverter Market, By Technology type
11.1.1.1.4 Germany: Traction Inverter Market, By Vehicle type
11.1.1.2 France: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 France: Traction Inverter Market, By Propulsion type
11.1.1.2.2 France: Traction Inverter Market, By Voltage type
11.1.1.2.3 France: Traction Inverter Market, By Technology type
11.1.1.2.4 France: Traction Inverter Market, By Vehicle type
11.1.1.3 Italy: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Italy: Traction Inverter Market, By Propulsion type
11.1.1.3.2 Italy: Traction Inverter Market, By Voltage type
11.1.1.3.3 Italy: Traction Inverter Market, By Technology type
11.1.1.3.4 Italy: Traction Inverter Market, By Vehicle type
11.1.1.4 UK: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 UK: Traction Inverter Market, By Propulsion type
11.1.1.4.2 UK: Traction Inverter Market, By Voltage type
11.1.1.4.3 UK: Traction Inverter Market, By Technology type
11.1.1.4.4 UK: Traction Inverter Market, By Vehicle type
11.1.1.5 Russia: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 Russia: Traction Inverter Market, By Propulsion type
11.1.1.5.2 Russia: Traction Inverter Market, By Voltage type
11.1.1.5.3 Russia: Traction Inverter Market, By Technology type
11.1.1.5.4 Russia: Traction Inverter Market, By Vehicle type
11.1.1.6 Rest of Europe: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Rest of Europe: Traction Inverter Market, By Propulsion type
11.1.1.6.2 Rest of Europe: Traction Inverter Market, By Voltage type
11.1.1.6.3 Rest of Europe: Traction Inverter Market, By Technology type
11.1.1.6.4 Rest of Europe: Traction Inverter Market, By Vehicle type
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profile
13.1 BorgWarner Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Continental AG
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Delphi Technologies Plc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Hitachi, Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Mitsubishi Electric Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Siemens AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Toshiba Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Voith GmbH & Co. KGaA
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Curtiss-Wright Industrial Group
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Dana TM4
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Word Index
List of Tables
Table 1. Europe Traction Inverter Market, Revenue and Forecast, 2019-2028 (US$ Million)
Table 2. Germany: Traction Inverter Market, By Propulsion type- Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Traction Inverter Market, By Voltage type- Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Traction Inverter Market, By Technology type- Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Traction Inverter Market, By Vehicle type- Revenue and Forecast to 2028 (US$ Million)
Table 6. France: Traction Inverter Market, By Propulsion type- Revenue and Forecast to 2028 (US$ Million)
Table 7. France: Traction Inverter Market, By Voltage type- Revenue and Forecast to 2028 (US$ Million)
Table 8. France: Traction Inverter Market, By Technology type- Revenue and Forecast to 2028 (US$ Million)
Table 9. France: Traction Inverter Market, By Vehicle type- Revenue and Forecast to 2028 (US$ Million)
Table 10. Italy: Traction Inverter Market, By Propulsion type- Revenue and Forecast to 2028 (US$ Million)
Table 11. Italy: Traction Inverter Market, By Voltage type - Revenue and Forecast to 2028 (US$ Million)
Table 12. Italy: Traction Inverter Market, By Technology type- Revenue and Forecast to 2028 (US$ Million)
Table 13. Italy: Traction Inverter Market, By Vehicle type- Revenue and Forecast to 2028 (US$ Million)
Table 14. UK: Traction Inverter Market, By Propulsion type- Revenue and Forecast to 2028 (US$ Million)
Table 15. UK: Traction Inverter Market, By Voltage type - Revenue and Forecast to 2028 (US$ Million)
Table 16. UK: Traction Inverter Market, By Technology type- Revenue and Forecast to 2028 (US$ Million)
Table 17. UK: Traction Inverter Market, By Vehicle type- Revenue and Forecast to 2028 (US$ Million)
Table 18. Russia: Traction Inverter Market, By Propulsion type- Revenue and Forecast to 2028 (US$ Million)
Table 19. Russia: Traction Inverter Market, By Voltage type - Revenue and Forecast to 2028 (US$ Million)
Table 20. Russia: Traction Inverter Market, By Technology type - Revenue and Forecast to 2028 (US$ Million)
Table 21. Russia: Traction Inverter Market, By Vehicle type - Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of Europe: Traction Inverter Market, By Propulsion type- Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of Europe: Traction Inverter Market, By Voltage type- Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Europe: Traction Inverter Market, By Technology type- Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of Europe: Traction Inverter Market, By Vehicle type- Revenue and Forecast to 2028 (US$ Million)
Table 26. List of Abbreviation
List of Figures
Figure 1. Europe Traction Inverter Market Segmentation
Figure 2. Europe Traction Inverter Market Segmentation - Country
Figure 3. Europe Traction Inverter Market Overview
Figure 4. Europe Traction Inverter Market, By Voltage type
Figure 5. Europe Traction Inverter Market, By Country
Figure 6. Europe: PEST Analysis
Figure 7. Traction Inverter Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Europe Traction Inverter Market: Impact Analysis of Drivers and Restraints
Figure 10. Europe Traction Inverter Market, Forecast and Analysis (US$ Million)
Figure 11. Europe Traction Inverter Market, By Propulsion type (2021 and 2028)
Figure 12. Europe BEV: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Europe HEV: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe PHEV: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Europe Others: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Europe Traction Inverter Market, By Voltage type (2021 and 2028)
Figure 17. Europe Up to 200V: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe 200 to 900V: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Europe 900V and above: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe Traction Inverter Market, By Technology type (2021 and 2028)
Figure 21. Europe IGBT: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Europe MOSFET: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Europe Others: Traction Inverter Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Europe Traction Inverter Market Revenue Share, by Vehicle Type (2021 and 2028)
Figure 25. Europe Passenger Cars: Traction Inverter Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Europe Commercial Vehicles: Traction Inverter Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Europe Others: Traction Inverter Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. Europe Traction Inverter Market, by Key Country - Revenue (2021) (US$ Million)
Figure 29. Europe: Traction Inverter Revenue Share, by Key Country (2021 and 2028)
Figure 30. Germany: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 31. France: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 32. Italy: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 33. UK: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 34. Russia: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
Figure 35. Rest of Europe: Traction Inverter Market- Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- BorgWarner Inc.
- Continental AG
- Curtiss-Wright Industrial Group
- Dana TM4
- Delphi Technologies Plc
- Hitachi, Ltd.
- Mitsubishi Electric Corporation
- Siemens AG
- Toshiba Corporation
- Voith GmbH & Co. KGaA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | December 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 3617.16 Million |
| Forecasted Market Value ( USD | $ 9064.62 Million |
| Compound Annual Growth Rate | 16.5% |
| Regions Covered | Europe |
