DUBLIN , Sept. 16, 2022 /PRNewswire/ -- The "Automotive Inverter Market - A Global and Regional Analysis: Focus on Vehicle Type, Propulsion Type, Power Output, Material Type, Technology, and Regional Analysis - Analysis and Forecast, 2020-2031" report has been added to  ResearchAndMarkets.com's offering.

The global automotive inverter market was estimated to be at $8.3 billion in 2020, which is expected to grow with a CAGR of 17.09% and reach $50.1 billion by 2031

The growth in the global automotive inverter market is expected to be driven by increasing demand for electric vehicles to acquire sustainability and lower ownership costs.

The automotive inverter market is in the development phase. Increased research and development activities are underway to develop newer semiconductor materials such as gallium nitride, which are expected to witness an increase in adoption due to the lower energy and gate losses.

Increasing investments in R&D in gallium nitride and silicon carbide is one of the major opportunities in the global automotive inverter market. Also, the exponential increase in the sales of electric vehicles across the globe will propel the market even further. Though there are some challenges in the market, such as lack of charging infrastructure and complex design requirements, the ongoing vital developments in the market are expected to overcome them in the forecast period.

The automobile industry has seen a significant technological shift in the previous decade, opening the path for widespread acceptance of electric transportation.

Various countries are implementing measures such as fuel economy standards, deploying support infrastructure for alternative propulsion vehicles, and providing consumer incentives to help bridge the ownership cost gap between alternative energy vehicles and conventional vehicles in order to reduce carbon emissions and increase the adoption of alternative energy vehicles.

With the fast adoption of battery electric cars, plug-in hybrid electric vehicles, and hybrid electric vehicles, demand for automotive inverters, which are an essential component of alternative energy vehicles, has risen dramatically in recent years.

Recent Developments in Global Automotive Inverter Market

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analysis of company coverage, product portfolio, market penetration, etc.

Some of the prominent names established in this market are:

1 Markets 1.1 Industry Outlook 1.1.1 Trends: Industry Dynamics Defining the Current and Future Trends of Global Automotive Inverter Market 1.1.1.1 Prominence of Double-Sided Direct Cooling Inverters 1.1.1.2 Growing Application of Multilevel Inverters 1.1.1.3 Trend of Combining Inverter and DC/DC Converter 1.1.2 Supply Chain Analysis 1.1.3 Key Start-Ups in the Global Automotive Inverter Market 1.1.4 Ecosystem/Ongoing Programs 1.1.4.1 Consortiums, Associations, and Regulatory Bodies 1.1.4.2 Government Initiatives 1.1.4.3 Programs by Research Institutions and Universities 1.2 Business Dynamics 1.2.1 Business Drivers 1.2.1.1 Growing Demand for Electric Vehicles 1.2.1.2 Usage of Navigation Devices and Smartphones by Cab Aggregators, Car Rental, and Fleet Management Service Providers 1.2.1.3 Growing Demand for Electric Vehicles in Order to Acquire Green Earth Goals 1.2.1.4 Government Initiative for Growth and Adaptation of Electric Vehicle 1.2.2 Business Restraints 1.2.2.1 Lack of Charging Infrastructure 1.2.2.2 Complex Design and Integration Process for Advanced Applications 1.2.3 Business Strategies 1.2.3.1 Product Developments 1.2.3.2 Market Developments 1.2.4 Corporate Strategies 1.2.4.1 Mergers and Acquisitions 1.2.4.2 Partnerships, Joint Ventures, Collaborations, and Alliances 1.2.5 Business Opportunities 1.2.5.1 Development of High-Power Density Inverter 1.2.5.2 Combining Autonomous Driving with Electric Vehicles

2 Application 2.1 Automotive Inverter Market- Applications and Specifications 2.1.1 Automotive Inverter Market (by Propulsion Type) 2.1.1.1 Battery Electric Vehicle (BEV) 2.1.1.2 Hybrid Electric Vehicle (HEV) 2.1.1.3 Plug-in Hybrid Electric Vehicle (PHEV) 2.1.2 Automotive Inverter Market (by Vehicle Type) 2.1.2.1 Passenger 2.1.2.2 Commercial 2.1.3 Automotive Inverter Market (by End Market) 2.1.3.1 Original Equipment Manufacturer (OEM) 2.1.3.2 Aftermarket 2.2 Demand Analysis of Automotive Inverter Market (by Vehicle Type) 2.2.1 Global Demand Analysis (by Propulsion Type), Million Units and $Billion 2.2.2 Global Demand Analysis (by Vehicle Type), Million Units and $Billion

3 Products 3.1 Automotive Inverter Market- Products and Specifications 3.1.1 Automotive Inverter Market (by Material Type) 3.1.1.1 Silicon 3.1.1.2 Silicon Carbide 3.1.1.3 Gallium Nitride 3.1.2 Automotive Inverter Market (by Power Output) 3.1.2.1 <_30 />3.1.2.2 >130 KW 3.1.3 Automotive Inverter Market (by Technology) 3.1.3.1 Insulated Gate Bipolar Transistor (IGBT) 3.1.3.2 Metal Oxide Semiconductor Field Effect Transistor (MOSFET) 3.2 Demand Analysis of Automotive Inverter Market (by Product) 3.2.1 Global Demand Analysis (by Material Type), Million Units and $Billion 3.2.2 Global Demand Analysis (by Power Output), Million Units and $Billion 3.2.3 Global Demand Analysis (by Technology), Million Units and $Billion 3.3 Pricing Analysis

For more information about this report visit https://www.researchandmarkets.com/r/h9p1bv

Research and Markets Laura Wood , Senior Manager press@researchandmarkets.com

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