EVs propel market growth

Increasing acceptance of EVs and rising awareness related to global warming are key factors helping drive the global automotive inverter market which accounted for US$2.67 billion in 2019 and is expected to reach US$10.73b by 2027.

However, the limited availability of charging facilities is the restraining factor for the market’s growth.

That’s according to the Automotive Inverter – Global Market Outlook (2019-2027)

report which has been added to ResearchAndMarkets.com‘s offering.

The automotive inverter is a fundamental component in the automotive vehicle and is primarily used to convert DC power from the battery source to AC power. These inverters usually mimic the alternating current which helps in the proper functioning of the small consumer electronics.

By propulsion type, the battery electric vehicle (BEV) segment is expected to grow at a significant market share during the forecast period due to its wide acceptance around the globe.

Asia Pacific is anticipated to hold considerable market share during the forecast period as the automotive sector is flourishing in major economies like China and India.

Some of the key players in the automotive inverter market include Hyundai Mobis Co, Siemens, Robert Bosch GmbH, Continental AG, Hitachi Automotive Systems, Denso Corporation, LG Electronics, Calsonic Kansei Corporation, Tata AutoComp Systems, Mitsubishi Electric, TVS Group, Lear Corporation, Sensata Technologies, Stanley Black & Decker, Samlex America, Toshiba Corporation, Toyota Industries and Delphi.