How big is the Electric Vehicle Power Inverter Market?

The Electric Vehicle Power Inverter Market size is expected to reach USD 7.65 billion in 2024 and grow at a CAGR of 22.66% to reach USD 21.26 billion by 2029. Read More

What is the current Electric Vehicle Power Inverter Market size?

In 2024, the Electric Vehicle Power Inverter Market size is expected to reach USD 7.65 billion. Read More

Who are the key players in Electric Vehicle Power Inverter Market?

DENSOCorporation, Mitsubishi Electric Corporation, Tesla, Inc., Toyota Industries Corporation and Valeo SA are the major companies operating in the Electric Vehicle Power Inverter Market. Read More

Which is the fastest growing region in Electric Vehicle Power Inverter Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Electric Vehicle Power Inverter Market?

In 2024, the Asia-Pacific accounts for the largest market share in Electric Vehicle Power Inverter Market. Read More

What years does this Electric Vehicle Power Inverter Market cover, and what was the market size in 2023?

In 2023, the Electric Vehicle Power Inverter Market size was estimated at USD 5.92 billion. The report covers the Electric Vehicle Power Inverter Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electric Vehicle Power Inverter Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Electric Vehicle Power Inverter Market Share

Statistics for the 2023 & 2024 Electric Vehicle Power Inverter market share, created by Mordor Intelligence™ Industry Reports. Electric Vehicle Power Inverter share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Electric Vehicle Power Inverter Industry

A few players, such as Continental AG, Robert Bosch GmbH, DENSO Corporation, and Mitsubishi Electric Corporation, dominate the electric vehicle power inverter market. Companies are expanding their business by opening new production plants and making joint ventures so that they can gain an edge over their competitors. For instance,

June 2024: NXP Semiconductors NV and ZF Friedrichshafen AG collaborated on advanced SiC-based traction inverter solutions for EVs, utilizing NXP’s GD316x HV isolated gate drivers. These solutions aim to expedite the adoption of 800-V and SiC power devices, enhancing EV range, reducing charging stops, and lowering costs for OEMs.
January 2024: BorgWarner, in partnership with Shaanxi Fast Auto Drive Group, is focusing on high-voltage inverter solutions for electric commercial vehicles in China.
November 2023: Diamond Foundry Inc. developed an electric car inverter using diamond wafer technology, which was significantly smaller than Tesla 3's unit and delivered more efficient power.