This report will be a great benefit for industrialists, investors, market researchers and others interested in the huge expanding electric vehicle market for power electronics technology.
The market for electric vehicle inverters, both hybrid and pure electric, will grow from around $10 billion to an estimated $18 billion between 2013 and 2023.
Demand for inverters and electric power conversions is already well established in the automation and industrial control industries which are also growing at considerable pace, therefore the addition of a significant complimentary emerging market will create new sectors for existing inverter and power electronic component suppliers as well as create opportunities for new players, particularly those with specialist electric vehicle knowledge and those able to develop added value through highly integrated electric powertrain systems.
For sheer volumes, inverters in light electric vehicles such as electric bicycles dominate now and will remain so by 2023, with these being largely in Asia, meeting everyday personal transportation needs in large industrial cities. However, by 2023 inverters and converters in passenger vehicles will dominant by market value as high volume production is established and cost of ownership and range anxiety are reduced.
This report is an essential guide to those studying or involved in the supply of power electronics technology for the electric vehicle market. The report is suitable for the non-technical reader, but has sufficient detail to inform those readers requiring more subject depth.
Number of traction inverters in electric vehicles
worldwide 2012-2023 in thousands
*For the full forecast data please purchase this report
Browse more Hybrid Car Market Research Reports