Fior Markets launched a study titled “Vehicle Inverters Market by Propulsion Type (BEV, HEV, PHEV), Technology Type (IGBT, MOSFET), Semiconductor Materials Type, Output Power, Vehicle Type, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global vehicle inverters market is expected to grow from USD 1,532.4 Million in 2017 to USD 7,017.6 Million by 2025 at a CAGR of 20.9% during the forecast period from 2018-2025. Rising sales of electric vehicles across globe and increased use of various handheld and household devices in vehicles are two major driving forces of the market.
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The Battery Electric Vehicle (BEV)segmentis dominating the market with a market share of 47.80% in 2017
The propulsion type segment is classified into Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV) and Plug-In Hybrid Electric Vehicle (PHEV). The Battery Electric Vehicle (BEV) segment is dominating the vehicle inverters market in 2017. The rising purchasing power of customers and the increasing demand for eco-friendly vehicles in emerging and developed countries have contributed to the growth of the vehicle inverters market for BEV vehicles.
IGBT segment valued around USD 927.10Million in 2017
Technology type segment includes IGBT and Mosfet. IGBT segment is dominating the market with the highest share in 2017. There is upsurge in demand for electric vehicles requiring high power efficiency and faster switching capabilities, thus, driving the growth for IGBT-based vehicle inverters market globally.
Silicon carbide segmentheld the market share of 50.90% in 2017
Semiconductor materials type segment is divided into segments such as Gallium Nitride, Silicon and Silicon Carbide.Silicon Carbide segment is dominating the market in 2017. SiC-based power semiconductor devices are state-of-the-art in high efficiency and high frequency applications. With the advent of the era of electric vehicles, the automotive industry is keen toward opting SiC’s advanced features, in terms of power efficiency at high voltages, high reliability, and flexibility
The > 130kW segmentvalued around USD 943.95Million in 2017
The output power segment includes <= 130kW and > 130kW. The > 130kW segment held the highest market share in 2017 as they are best suited for AWD wheel drive vehicles.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately39.80% in 2017.TheAsia Pacific region is dominating the market because they are the hub for automobile production. With the increasing purchasing power of consumers, the demand for automobiles in this region has substantially risen. Cost advantages for OEMs, low automobile penetration levels, and increased vehicle production offer attractive market opportunities for automobile manufacturers and automotive component suppliers
The major players of market include Sensata Technologies Inc., Robert Bosch GmbH, Valeo, Calsonic Kansei Corporation, Delphi Technologies, Hitachi Ltd., Continental AG, DENSO CORPORATION, Mitsubishi Electric Corporation, Siemens, Fuji Electric Co. Ltd., TOYOTA INDUSTRIES CORPORATION, Metric Mind Corporation and Xantrex LLC.
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