Global Automotive Traction Inverters Market is valued approximately USD 5.6 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 17.57% over the forecast period 2024-2032. An automotive traction inverter serves as a critical component in electric and hybrid vehicles, facilitating the transformation of direct current (DC) sourced from the vehicle's battery pack into alternating current (AC). This conversion is pivotal for regulating the speed and torque of the electric motor or motors, ensuring the vehicle operates efficiently and seamlessly. Additionally, traction inverters contribute to regenerative braking systems by converting kinetic energy from braking into electrical energy, which is subsequently stored in the battery pack for future utilization. The increasing demand for automotive traction inverters has led to the emergence of new market players, including startups and technology companies specializing in electric vehicle components. This influx of new players is fostering competition and innovation in the traction inverter market, leading to a broader range of product offerings and technological advancements.
The growth of charging infrastructure for electric vehicles, including fast chargers and high-power charging stations, is driving the demand for high-capacity traction inverters capable of fast charging capabilities. Traction inverters with bidirectional power flow capabilities also support vehicle-to-grid (V2G) and vehicle-to-home (V2H) applications, further enhancing their value proposition. Furthermore, the Automotive Traction Inverters Market is driven by rise in electric vehicle (EV) adoption and the expansion of charging infrastructure. The push for energy-efficient vehicles and the expansion of charging infrastructure worldwide are contributing to the rising adoption of electric vehicles, further boosting the traction inverters market. The growing awareness among consumers about the benefits of electric vehicles, including lower operational costs and reduced carbon footprint, is another significant factor supporting market expansion. However, high initial investment costs associated with Automotive Traction Inverters and availability of alternatives would stifle market growth between 2022 and 2032.
The key regions considered for the global Automotive Traction Inverters market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Asia Pacific was the largest regional market in terms of revenue. In its long-term strategy, The Asia-Pacific region is poised to experience a notable surge in automotive traction inverter market share. This growth is particularly fueled by countries like China, Japan, and South Korea, which serve as pivotal centers for automotive component production. A key driving force behind this uptick is the increasing adoption of electric vehicles (EVs) in the region. The market in North America is expected to grow at the fastest rate over the forecast period.
Major market player included in this report are:
- Denso Corporation
- Robert Bosch GmbH
- BorgWarner Inc.
- Hitachi, Ltd.
- TDK Electronics
- Mitsubishi Electric Corporation
- Valeo SA
- Eaton Corporation
- Vitesco Technologies Group
- Curtiss-Wright Corporation
The detailed segments and sub-segment of the market are explained below:
By Propulsion Type
By Output Power
- Less Than or Equal to 130 kW
- More Than 130 kW
By Semiconductor Material:
- Gallium Nitride (GaN)
- Silicon (Si)
- Silicon Nitride (SiC)
By Technology Type:
By Vehicle Type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market
Table of Contents
Chapter 1. Global Automotive Traction Inverters Market Definition and Research Assumptions
- 1.1. Research Objective
- 1.2. Market Definition
- 1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
- 1.3.3.1. Availability
- 1.3.3.2. Infrastructure
- 1.3.3.3. Regulatory Environment
- 1.3.3.4. Market Competition
- 1.3.3.5. Economic Viability (Consumer's Perspective)
- 1.3.4. Demand Side Analysis
- 1.3.4.1. Regulatory frameworks
- 1.3.4.2. Technological Advancements
- 1.3.4.3. Environmental Considerations
- 1.3.4.4. Consumer Awareness & Acceptance
- 1.4. Estimation Methodology
- 1.5. Years Considered for the Study
- 1.6. Currency Conversion Rates
Chapter 2. Executive Summary
- 2.1. Global Automotive Traction Inverters Market Size & Forecast (2022- 2032)
- 2.2. Regional Summary
- 2.3. Segmental Summary
- 2.3.1. By Propulsion Type
- 2.3.2. By Output Power
- 2.3.3. By Semiconductor Material
- 2.3.4. By Technology Type
- 2.3.5. By Vehicle Type
- 2.4. Key Trends
- 2.5. Recession Impact
- 2.6. Analyst Recommendation & Conclusion
Chapter 3. Global Automotive Traction Inverters Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Challenges
- 3.3. Market Opportunities
Chapter 4. Global Automotive Traction Inverters Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Automotive Traction Inverters Market Size & Forecasts by Propulsion Type 2022-2032
- 5.1. BEV
- 5.2. HEV
- 5.3. PHEV
Chapter 6. Global Automotive Traction Inverters Market Size & Forecasts by Output Power 2022-2032
- 6.1. Less Than or Equal to 130 kW
- 6.2. More Than 130 kW
Chapter 7. Global Automotive Traction Inverters Market Size & Forecasts by Semiconductor Material 2022-2032
- 7.1. Gallium Nitride (GaN)
- 7.2. Silicon (Si)
- 7.3. Silicon Nitride (SiC)
Chapter 8. Global Automotive Traction Inverters Market Size & Forecasts by Technology Type 2022-2032
Chapter 9. Global Automotive Traction Inverters Market Size & Forecasts by Vehicle Type 2022-2032
- 9.1. Passenger Vehicles
- 9.2. Light Commercial Vehicles
- 9.3. Heavy Commercial Vehicles
Chapter 10. Global Automotive Traction Inverters Market Size & Forecasts by Region 2022-2032
- 10.1. North America Automotive Traction Inverters Market
- 10.1.1. U.S. Automotive Traction Inverters Market
- 10.1.1.1. Propulsion Type breakdown size & forecasts, 2022-2032
- 10.1.1.2. Output Power breakdown size & forecasts, 2022-2032
- 10.1.1.3. Semiconductor Material breakdown size & forecasts, 2022-2032
- 10.1.1.4. Technology Type breakdown size & forecasts, 2022-2032
- 10.1.1.5. Vehicle Type breakdown size & forecasts, 2022-2032
- 10.1.2. Canada Automotive Traction Inverters Market
- 10.2. Europe Automotive Traction Inverters Market
- 10.2.1. U.K. Automotive Traction Inverters Market
- 10.2.2. Germany Automotive Traction Inverters Market
- 10.2.3. France Automotive Traction Inverters Market
- 10.2.4. Spain Automotive Traction Inverters Market
- 10.2.5. Italy Automotive Traction Inverters Market
- 10.2.6. Rest of Europe Automotive Traction Inverters Market
- 10.3. Asia-Pacific Automotive Traction Inverters Market
- 10.3.1. China Automotive Traction Inverters Market
- 10.3.2. India Automotive Traction Inverters Market
- 10.3.3. Japan Automotive Traction Inverters Market
- 10.3.4. Australia Automotive Traction Inverters Market
- 10.3.5. South Korea Automotive Traction Inverters Market
- 10.3.6. Rest of Asia Pacific Automotive Traction Inverters Market
- 10.4. Latin America Automotive Traction Inverters Market
- 10.4.1. Brazil Automotive Traction Inverters Market
- 10.4.2. Mexico Automotive Traction Inverters Market
- 10.4.3. Rest of Latin America Automotive Traction Inverters Market
- 10.5. Middle East & Africa Automotive Traction Inverters Market
- 10.5.1. Saudi Arabia Automotive Traction Inverters Market
- 10.5.2. South Africa Automotive Traction Inverters Market
- 10.5.3. Rest of Middle East & Africa Automotive Traction Inverters Market
Chapter 11. Competitive Intelligence
- 11.1. Key Company SWOT Analysis
- 11.2. Top Market Strategies
- 11.3. Company Profiles
- 11.3.1. Denso Corporation
- 11.3.1.1. Key Information
- 11.3.1.2. Overview
- 11.3.1.3. Financial (Subject to Data Availability)
- 11.3.1.4. Product Summary
- 11.3.1.5. Market Strategies
- 11.3.2. Robert Bosch GmbH
- 11.3.3. BorgWarner Inc.
- 11.3.4. Hitachi, Ltd.
- 11.3.5. TDK Electronics
- 11.3.6. Mitsubishi Electric Corporation
- 11.3.7. Valeo SA
- 11.3.8. Eaton Corporation
- 11.3.9. Vitesco Technologies Group
- 11.3.10. Curtiss-Wright Corporation
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes