Automotive Inverters Market: Introduction
The automotive inverter is an integral part & a key component in the automotive vehicle, which is primarily used to covert or change over the DC power from the battery source to AC power. These automotive inverters generally mimic the alternating current which helps in the proper functioning of the small consumer electronics such as mobiles, laptops, accessory jacks, cigarette lighters to name a few. People used to travel to long distances for camping, for business truck drivers are the ones who often need efficient and effective automotive inverters assembly in their car. Since most of the consumer electronics runs on a specified true sign wave, most of the automotive inverters are comes up with an additional component in the commercial market that create a true or modified sine wave. There is numerous type of automotive inverters are available in the market out of which modified sine wave automotive inverters and pure sine wave automotive inverters are the preferred once and find increase level of adoption in the market. Out of the above-said types of the automotive inverters the former one is affordable one and cost-effective in nature. Also, these automotive inverters come up with different power supply profiles in the commercial market. 0-150 W profile based automotive inverters are used for the small consumer electronics accessories while more than 150 W profile based automotive inverters are used for large accessories.
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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: 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
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
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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