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| Report Coverage | Details |
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| Regions Covered | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa | |
| Unit Denominations | USD Million/Billion |
Market Segmentation
Electric Vehicle Acquired Majority market share
Based on the Application, Electric Vehicle acquired the majority market share in the Global Automotive Inverter market in 2019. The demand for an electric vehicle is high in the region such as North America and Europe along with various subsides are introduce by the government in the Asia-Pacific to propel the sales of electric vehicle are propelling the demand for the automotive inverter. Besides this, increasing inclination toward e-mobility due to growing demand for zero-emission vehicles and snowballing investment in the electric vehicle production unit are anticipated to upsurge the growth of the Automotive Inverter market in the forthcoming years as revealed by the MarkNtel Advisors’ research report “Global Automotive Inverter Market Analysis, 2021”.
OEMs Acquired the Largest Market Share
Based on End-User, OEMs acquired the majority market share in the Global Automotive Inverter market in 2020. The growth is attributed to boost in government initiatives to fuel the demand and production of alternate energy vehicle due to rising environmental concern such as increasing levels of CO2 and GHG gasses. Besides this, increasing investment by the OEMs and automotive supplier on R&D in the development of advanced battery compliance with government rules and burgeoning sales of electric vehicle in China, Australia and in various European countries are the factors placing a lucrative opportunity for the growth of the segment.
Market Opportunities
According to MarkNtel Advisors’ research report “Global Automotive Inverter Market Analysis, 2021”, the market is anticipated to grow at a CAGR of 9.0% during 2021-26F. The growth of the market is attributed to a significant upsurge in advancements in inverter technologies by a market player, burgeoning inclination to increase the travel range of electric vehicles, snowballing investment made by the governments in electric vehicle production and charging infrastructure. Moreover, formulation of various stringent policies to reduce the emission of GHG to fuel the purchase of an electric vehicle. Thus, this is is projected to grow the market of automotive inverter market at an astronomical rate in the forecast period.
Impact of COVID-19
The outbreak of the COVID-19 pandemic has adversely affected the automotive as well as its associated market. The sharp decline in the sales of the electric vehicle has a profound impact on the automotive inverter market due to the temporary closure of the production unit. Besides this, shrinking R&D budget, paradigm shift of manufacturers focus to revive demand and producing BS-VI vehicles has led to sluggish growth of the market.
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Automotive Inverter market include Bosch, Continental, Denso, Mitsubishi Electric, Hyundai Mobis, Valeo Group, Lear, Toyota Industries, Magneti Marelli, Hitachi Automotive Systems, TVS Group, China Auto Electronics Group, Tata AutoComp Systems, Zhejiang Founder Motor, ABB, Arens Controls, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What is the historical year, base year and forecast year considered in the research report on Global Automotive Inverter Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up to 2026.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of the Global Automotive Inverter Market during 2021-26?
A. The Global Automotive Inverter Market is anticipated to grow at a CAGR of 9.0% during 2021-26
Q. Who are the key competitors or players operating in Global Automotive Inverter Market?
A. Bosch, Continental, Denso, Mitsubishi Electric, Hyundai Mobis, Valeo Group, Lear, Toyota Industries, Magneti Marelli, Hitachi Automotive Systems, TVS Group, China Auto Electronics Group, Tata AutoComp Systems, Zhejiang Founder Motor, ABB, Arens Controls, etc., are few of the leading players in the Global Automotive Inverter Market.
Q. Which application segment would emerge as an opportunity area for players in Global Automotive Inverter Market?
A. Electric Vehicle is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Automotive Inverter Market?
A. Asia-Pacific continue to grow at the highest CAGR, presenting immense opportunities for market players of the Global Automotive Inverter Market.
