Market research reports, consulting: Global Market Insights Inc.
We use cookies to enhance user experience. (Privacy Policy)

Automotive On-board Power Inverters Market Analysis

Report ID: GMI12078
   |
Published Date: October 2024
 | 
Report Format: PDF

Download free sample

Automotive On-board Power Inverters Market Analysis

Automotive On-board Power Inverter Market, By Vehicle, 2021-2032 (USD Million)

Based on vehicles, the market is segmented into passenger vehicles and commercial vehicles. In 2023, the passenger vehicle segment accounted for over 70% of the automotive on-board power inverters share and is expected to exceed USD 600 million by 2032. Modern vehicles come equipped with various auxiliary systems, such as climate control and mobile charging ports, all requiring a reliable power source.
 

On-board power inverters convert the vehicle's battery-stored DC power to AC power, supporting these systems. As more consumers use in-car electronics like laptops and portable devices, the demand for versatile inverters is increasing. This trend is particularly strong in passenger vehicles, where enhancing comfort and convenience is a priority, driving consistent demand for reliable inverter solutions.
 

Additionally, modern vehicles now feature advanced electronic systems that require a reliable power supply. These include state-of-the-art infotainment systems, navigation tools, USB charging ports, and various comfort features. As the industry moves towards connected and autonomous cars, the need for efficient power conversion solutions becomes critical.
 

Automotive On-board Power Inverter Market Share, Inverter, 2023

Based on the inverter, the automotive on-board power inverters market is divided into single-phase inverters and three-phase inverters. By 2032, the three-phase inverters segment is expected to exceed USD 650 million due to several key factors. Recent advances in manufacturing and automation have considerably reduced production costs and increased the scalability of three-phase inverters. Companies use robotics and automated testing to improve product quality and reduce faults.
 

Furthermore, modular designs and standardized components promote economies of scale. For example, in June 2023, Wolfspeed debuted its 200 kW XM3 three-phase inverters for automotive applications. The XM3 power module platform, which is optimized for SiC MOSFETs, has a small, low-inductance architecture that lowers system losses and simplifies system design. These advancements are making three-phase inverters more efficient, user-friendly, and accessible to the car industry.
 

U.S. Automotive On-board Power Inverter Market, 2021 – 2032, (USD Million)

The U.S. automotive on-board power inverters market accounted for 36% of the revenue share in 2023. American consumers are increasingly choosing high-power inverters (more than 2000W) to power multiple electronics and auxiliary equipment in larger cars such as pickup trucks and SUVs. This tendency is driven by the developing "vehicle-as-a-workspace" notion, which sees automobiles used as mobile workplaces, particularly in the aftermath of a pandemic. Furthermore, the increase in outdoor recreation and camping activities raises the demand for power to run various appliances and devices.
 

Manufacturers in Europe are concentrating on developing smaller, lighter, and more efficient inverters to meet tight EU car weight and pollution rules. This is especially important in the electric vehicle category, where power density and efficiency are critical for increasing range and improving overall vehicle performance.
 

Japan and South Korea's advanced automobile industry are progressively embracing high-frequency inverter technology. This move is motivated by the desire for greater efficiency, smaller size, and better thermal control. This technology not only improves power conversion but also mitigates electromagnetic interference.
 

Authors: Preeti Wadhwani, Aishvarya Ambekar
Frequently Asked Question(FAQ) :
How big is the automotive on-board power inverters market?
The market size of automotive on-board power inverters reached USD 578.8 million in 2023 and is set to grow at a 5.4% CAGR from 2024 to 2032, driven by the rapid adoption of electric vehicles (EVs).
How significant is the passenger vehicle segment in the automotive on-board power inverters industry?
How much is the U.S. automotive on-board power inverters market worth?
Who are the major players in the automotive on-board power inverters industry?
Automotive On-board Power Inverters Market Scope
Related Reports
    Authors: Preeti Wadhwani, Aishvarya Ambekar
    Buy Now
    $4,123 $4,850
    15% off
    $4,280 $5,350
    20% off
    $5,845 $8,350
    30% off
        Buy now
    Premium Report Details

    Base Year: 2023

    Companies covered: 20

    Tables & Figures: 200

    Countries covered: 21

    Pages: 180

    Download Free Sample

    Top