The traction inverter market size is poised to grow by $ 73.08 billion by 2032 from $ 17.93 billion in 2023, exhibiting a CAGR of 16.90% during the forecast period 2023-2032.
Key Takeaways
- North America contributed more than 44% of revenue share in 2022.
- Asia-Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
- By propulsion, the BEV segment has held the largest market share of 44% in 2022.
- By propulsion, the PHEV segment is anticipated to grow at a remarkable CAGR of 17.2% between 2023 and 2032.
- By voltage, the 200 to 900V segment generated over 38% of revenue share in 2022.
- By voltage, the 900V and above segment is expected to expand at the fastest CAGR over the projected period.
- By technology, the MOSFET segment generated over 46% of revenue share in 2022.
- By technology, the IGBT segment is expected to expand at the fastest CAGR over the projected period.
- By vehicle, the commercial Vehicles segment generated over 42% of revenue share in 2022.
- By vehicle, the passenger cars segment is expected to expand at the fastest CAGR over the projected period.
The Traction inverter market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Traction inverter market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. The market size and forecast for each application segment have been provided for the global and regional market.
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This report focuses on the global Traction inverter market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Traction inverter market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Traction inverter market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Traction inverter capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Traction inverter by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Traction inverter market. These figures have been provided in terms of both revenue and volume for the period 2023 to 2032. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
About production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Traction inverter market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Traction inverter market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Traction inverter industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Competitive Landscape:
Traction inverter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Traction inverter market.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Traction inverter. The global market is segmented based on region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Recent Developments
- In July 2022, Curtiss-Wright expanded its industrial division, introducing a new lineup of products within the traction inverter sector. This expansion notably includes traction inverters designed for both hybrid and pure-electric on-highway and off-highway commercial vehicles. The focus on efficiency and innovation underscores Curtiss-Wright's commitment to advancing electric mobility solutions. By diversifying its product portfolio in the traction inverter market, Curtiss-Wright aims to cater to the growing demand for advanced electric propulsion systems in the commercial vehicle sector, aligning with the global trend toward sustainable and eco-friendly transportation.
- In June 2022, STMicroelectronics (ST) and Semikron joined forces to create a Silicon Carbide (SiC)-powered semiconductor, specifically designed for electric vehicle traction drives. This collaborative effort signifies a strategic move to propel advancements in automotive traction inverter technologies. Silicon Carbide, known for its superior performance in power electronics, is expected to enhance the efficiency and capabilities of traction inverters in electric vehicles. By leveraging the expertise of both STMicroelectronics and Semikron, this collaboration aims to contribute to the evolution of cutting-edge solutions, supporting the automotive industry's shift towards more efficient and sustainable electric propulsion systems.
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Traction Inverter Market Players
- Siemens AG
- Infineon Technologies AG
- Continental AG
- Robert Bosch GmbH
- Delphi Technologies
- Hitachi Automotive Systems
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Fuji Electric Co., Ltd.
- ABB Ltd
- Dana Incorporated
- Lear Corporation
- Texas Instruments Incorporated
- STMicroelectronics
- ON Semiconductor
In this study, the years considered to estimate the market size of Traction inverter are as follows:
- History Year: 2017-2022
- Base Year: 2022
- Forecast Year 2023 to 2032
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After completing market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
Market Segmentation
By Propulsion
- BEV
- HEV
- PHEV
- Others
By Voltage
- Up to 200V
- 200 to 900V
- 900V and above
By Technology
- IGBT
- MOSFET
- Others
By Vehicle
- Passenger Cars
- Commercial Vehicles
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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