The North America Electric Vehicle Power Inverter Market would witness market growth of 9.4% CAGR during the forecast period (2022-2028).
Multicore, lockstep MCUs, SBCs, CAN PHYs, and high-voltage gate drivers are some of the components for EV power inverter control applications that are deployed with system-level functional safety capabilities. A number of manufacturers across the market are introducing simple-to-use design platforms along with system enablement software to expedite inverter development, providing customers with a robust foundation for their system development.
These design platforms come with hardware and software as well as schematics, BoMs, layout files, and safety documentation for usage with SiC MOSFET or IGBT modules. One of the essential parts of an electric vehicle is the power inverter, which, under ideal circumstances, transforms battery DC power into AC power within electric motors. Inverter manufacturers have enhanced inverter capabilities to manage energy, in reverse, from both sources in response to automakers' rising demand to reduce energy use in vehicles (i.e., battery and motor).
Numerous steps are being taken by the government to tackle climate change, widen access to sustainable energy options, and lessen the United States' reliance on oil. Due to this, the Administration announced a series of unprecedented initiatives in 2016 from the Federal government, the private sector, and states today. These initiatives include a new framework for cooperation for automakers, electric vehicle charging companies, electric utilities, and states, all aimed at accelerating the implementation of electric vehicle charging infrastructure.
The US market dominated the North America Electric Vehicle Power Inverter Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,958.1 million by 2028. The Canada market is poised to grow at a CAGR of 11.9% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 11% during (2022 - 2028).
Based on Inverter Type, the market is segmented into Traction Inverter and Soft Switching Inverter. Based on Propulsion, the market is segmented into Battery Electric Vehicle, Plug in Hybrid Vehicle, and Hybrid Vehicle. Based on Level of Integration, the market is segmented into Integrated Inverter System, Separate Inverter System, and Mechatronic Integration System. Based on Vehicle Type, the market is segmented into Passenger Vehicle and Commercial Vehicle. Based on Distribution Channel, the market is segmented into OEM and Aftermarket. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Electric Vehicle Power Inverter Market is Estimated to reach $15.5 Billion by 2028, at a CAGR of 10.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Continental AG, Robert Bosch GmbH, Denso Corporation, Valeo SA, Mitsubishi Electric Corporation, Aptiv PLC, Toyota Industries Corporation, Nissan Motor Corporation and Marelli.
By Inverter Type
By Propulsion
By Level of Integration
By Vehicle Type
By Distribution Channel
By Country
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