The primary function of the automotive inverter, which is a vital and essential component of the automobile, is to convert or switch the DC power from the battery source to AC power. The alternating current that these vehicle inverters typically imitate aids in the appropriate operation of small consumer gadgets like mobile phones, laptops, accessory jacks, and cigarette lighters, to mention a few.
Truck drivers and those who frequently travel long distances for leisure or business frequently require efficient and effective automobile inverter assemblies. The majority of automobile inverters now come with an additional component in the commercial market that creates a true or modified sine wave because most consumer devices operate on a specific true sign wave. There are many different kinds of automobile inverters on the market, but modified sine wave and pure sine wave inverters are the most popular and are becoming more and more widely used.
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The earlier type of automotive inverter is the most reasonably priced and economically viable of the three. Additionally, there are many power supply profiles for these automobile inverters on the commercial market. Small consumer electronics accessories employ 0-150 W profile-based car inverters, whereas large accessories use more than 150 W profile-based automotive inverters.
Automotive Inverters Market: Market Dynamics
With growing emission standards all over the world, major OEM’s are shifting their production profile to electric & hybrid vehicles from the conventional engine is acting as the major driving factor for the growth of automotive inverters. Also, regional governments across the globe create the environment that flourishes the electric vehicle sales which in turn increases the sales of automotive inverters. Some of the key steps are offering incentives on the purchase of electric vehicles, low electric vehicle tax to name a few.
Rapid technological innovation in the sector of power electronics such as the development of better power density automotive inverter is expected to propel the automotive inverter market in the long term scenario. Considering the increase in concerns of the automakers in order to improve the energy consumption, automotive inverters manufacturers have excelled the automotive inventor capabilities to handle energy. However, inappropriate use of the automotive inverter may lead to shrinking down the battery life which in turn increases the maintenance cost
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Automotive Inverters Market: Region Wise Trends
With an increase in electric vehicle production in China, India & other Asian countries the sale of the automotive inverter is expected to gain the maximum growth in the above-said regions. Also, increasing efforts from the above-said countries in order to grow the sales of the electric vehicle is expected to flourish the automotive inverters market. North America is expected to remain the dominant region for the sales of automotive inverters as major automakers have their production plants in the region. The NA region is closely followed by Western Europe in the automotive inverters sales as the EU5 countries are totally indulging in expanding their electric & hybrid vehicle fleets. Emerging regions, such as the MEA and EE are likely to observe robust growth in automotive inverter market as a result of the shift of automotive parts manufacturing facilities to these regions and their improved economic conditions
Examples of some of the market participants in the Global Automotive Inverters Market identified across the value chain include:
- BESTEK
- Calsonic Kansei
- Lear Corporation
- Sensata Technologies
- Stanley Black & Decker
- Samlex America
- Toshiba Corporation
- Toyota Industries
- Delphi
- Denso
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Automotive Inverters Market: Segmentation
On the basis of Power Supply, the Automotive Inverters Market can be segmented as:
- 0-150W
- More than 150W
On the basis of Vehicle Type, the Automotive Inverters Market can be segmented as:
- Passenger Car
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Electric Vehicle
- Hybrid Electric Vehicle
- Battery Electric Vehicle
- Plug-in Electric Vehicle
On the basis of Sales Channel, the Automotive Inverters Market can be segmented as:
- OEM’s
- After Market
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