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EV Traction Inverter Market Trends

  • Report ID: GMI12587
  • Published Date: Dec 2024
  • Report Format: PDF

EV Traction Inverter Market Trends

Adoption of wide-bandgap semiconductors, such as silicon carbide (SiC) and gallium nitride (GaN). These materials offer superior efficiency, higher power density, and better thermal management compared to traditional silicon-based semiconductors. As EVs demand higher efficiency to extend range and improve performance, the use of SiC and GaN in traction inverters has become a key focus for manufacturers. Companies like Infineon Technologies and Cree (Wolfspeed) are leading this shift, with many automakers integrating these advanced materials into their EV powertrains.
 

To enhance efficiency and reduce vehicle weight, there is a growing trend toward integrating traction inverters with electric motors into a single modular unit. This approach, known as powertrain integration, improves thermal management, reduces wiring complexity, and saves space. Automakers are adopting this integrated design to optimize powertrain efficiency and simplify assembly processes.
 

As automakers aim to improve EV range and performance, the demand for compact and lightweight traction inverters is rising. Manufacturers are innovating designs to reduce size and weight without compromising on power output or efficiency. Compact inverters help reduce the overall weight of the vehicle, improving energy efficiency and extending driving range. This trend is driving advancements in materials and cooling technologies, enabling the development of smaller and more efficient inverter designs.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of EV traction inverter reached USD 6.8 billion in 2024 and is set to grow at a 14.7% CAGR from 2025 to 2034, driven by the rapid adoption of electric vehicles (EVs) worldwide.

The passenger car segment accounted for over 73% of the market share in 2024 and is expected to exceed USD 19.1 billion by 2034, led by the high volume of passenger vehicle sales and increasing consumer adoption of EVs.

The U.S. market accounted for 83% of the revenue share in 2024 and is poised to cross USD 4.9 billion by 2034, supported by a robust EV manufacturing ecosystem and strong consumer demand.

The key players in the industry include Continental AG, DENSO Corporation, Hitachi Astemo Ltd, Mitsubishi Electric Corporation, Robert Bosch GmbH, Toyota Industries Corporation, Valeo SA, Vitesco Technologies, and ZF Friedrichshafen AG.

EV Traction Inverter Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 20
  • Tables & Figures: 200
  • Countries covered: 19
  • Pages: 240
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