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Automotive On-board Power Inverters Market Share
Sensata Technologies, Continental Engineering Services, and Infineon collectively held a substantial market share of over 18% in the automotive on-board power inverters industry in 2023. Sensata has reinforced its position in the electrification sector by purchasing companies specializing in EV components, battery management, and energy storage. Sensata's strategic acquisitions allow them to offer a broader range of power electronics, including inverters.
Continental Engineering Services offers bespoke engineering solutions to satisfy the specific requirements of car OEMs. They provide specialized inverter solutions for both EVs and hybrids, allowing them to efficiently service traditional automakers as well as EV startups. Their emphasis on modular design for power electronics, including inverters, provides rapid adaption and scalability across multiple vehicle models. This approach is consistent with the growing trend toward electrification, making Continental a desirable partner for OEM.
Infineon has heavily invested in silicon carbide (SiC) and gallium nitride (GaN) technologies, which are known for their high efficiency and performance in inverters. These wide bandgap semiconductors are essential for EV applications, where efficiency and heat management are critical.
Automotive On-board Power Inverters Market Companies
Major players operating in the automotive on-board power inverters industry are:
- Analog Devices
- Baccus Global
- Bestek
- Cobra
- Continental Engineering Services
- Infineon Technologies
- Marelli Holdings
- Samlex
- Sensata Technologies
- STMicroelectronics
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?
The passenger vehicle segment accounted for over 70% of the market share in 2023 and is expected to exceed USD 600 million by 2032, led by the increasing integration of auxiliary systems in modern vehicles.
How much is the U.S. automotive on-board power inverters market worth?
The U.S. market accounted for 36% of the revenue share in 2023, propelled by the growing preference for high-power inverters (over 2000W) to power multiple electronics and auxiliary equipment in larger vehicles.
Who are the major players in the automotive on-board power inverters industry?
The key players in the industry include Analog Devices, Baccus Global, Bestek, Cobra, Continental Engineering Services, Infineon Technologies, Marelli Holdings, Samlex, Sensata Technologies, and STMicroelectronics.