Automotive Board AC DC Power Inverters Market Trends

Automotive Board AC DC Power Inverters Market Overview:

The Automotive Board AC DC Power Inverters market industry is projected to grow from USD 746.1 Million in 2023 to USD 1122.2 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.6% during the forecast period (2023 - 2032). Automotive Board AC DC Power Inverters Market Size was valued at USD 713.0 Million in 2022. The increasing use of handheld devices within automobiles, the rapid electrification of automotive vehicles, and the rise in the number of trips requiring electronic equipment like entertainment systems, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive Board AC DC Power Inverters Market Trends

Rapid electrification in an automotive vehicle is driving the market growth

Over the projection period, it is anticipated that rapid electrification in automobiles will boost demand for automotive on-board AC-DC power inverters. Additionally, it is anticipated that over the course of the projection period, the demand for automotive board AC DC power inverters would increase due to the rise in the number of trips that call for electronic gadgets such infotainment systems. Additionally, a growing variety of electronic products or technologies, including GPS, collision sensors, and drive-by-wire, are anticipated to propel the global market during the projected time frame. Additionally, a fully electric car is thought of as an electric vehicle, which increases market demand during cloudy weather.

One of the major factors that would propel the growth of the Automotive Board AC DC Power Inverters Market during the projected period is the increasing popularity of handheld devices inside of automobiles. Automotive board AC DC power inverters have better growth prospects due to the increasing use of portable gadgets by drivers. Additionally, the use of cellphones and navigation systems by drivers is projected to increase as the global taxi aggregators sector expands. In the next years, this element is probably going to contribute to the growth of the global market. The market's double-digit global growth rate is still another important factor.

Future market growth is probably due to the anticipated increase in electric vehicle sales. One of the key developments in the international market is the rising appeal of electric automobiles. However, one of the key market inhibitors continues to be the high cost of integration. Further impeding the market are the strong currents flowing via terminals and connected connections, which diminish safety. OEMs' increased attention to effective power management presents advantageous business opportunities. Thus, driving the Automotive Board AC DC Power Inverters market revenue.

Automotive Board AC DC Power Inverters Market Segment Insights:

Automotive Board AC DC Power Inverters Type Insights

The Automotive Board AC DC Power Inverters Market segmentation, based on type, includes Less than 100 W automotive board AC DC power inverters, 100 W to 150 W automotive board AC DC power inverters, and more than 150 W automotive board AC DC power inverters. 100 W to 150 W automotive board AC DC power inverters segment accounted for the largest revenue share in 2022. This is because using electrical gadgets like DVD players, laptops, mobile phone chargers, and gaming consoles need a low power range. Commercial cars are where the high-range automotive board ac dc power inverters are most frequently employed.

Automotive Board AC DC Power Inverters Application Insights

The Automotive Board AC DC Power Inverters Market segmentation, based on application, includes compact cars, mid-size cars, SUVs, luxury cars, LCVs, and HCVs. Mid-size cars segment dominated the Automotive Board AC DC Power Inverters Market in 2022. The inverter regulates the electric motor in an electric drivetrain. Similar to the engine management system (EMS) in combustion-powered cars, this inverter is an essential part of the car because it affects the vehicle's efficiency. Due to demand from North America, Europe, and Asia-Pacific (particularly China), the market for hybrid, electric, and fuel cell passenger automobiles has been expanding during the past few years. Because of incoming models from automakers all over the world on the market, the electrification of vehicles is anticipated to continue during the projection period. It is projected that these advancements in electric passenger cars would present new opportunities for market participants in automotive board ac dc power inverters.

Figure 1: Automotive Board AC DC Power Inverters Market by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive Board AC DC Power Inverters Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Automotive Board AC DC Power Inverters Market dominated this market in 2022 (45.80%). Due to the rise in electric vehicle adoption and demand in the United States over the past several years, there has been a considerable growth in the need for electric vehicle power inverters. For instance, the demand for electric cars has increased despite the pandemic. Passenger car registrations climbed from 1.45 million units in 2019 to 1.78 million units in 2020, a 22.56% annual growth rate. Further, the U.S. Automotive Board AC DC Power Inverters market held the largest market share, and the Canada Automotive Board AC DC Power Inverters market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Automotive Board Ac Dc Power Inverters Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Automotive Board AC DC Power Inverters market accounted for the healthy market share in 2022. One of the biggest auto markets in Europe is Germany. One of the biggest markets for electric trucks exists here. In Germany, the market for electric vehicles has been steadily expanding over the past few years, which has facilitated the development of electric vehicle power inverters. For instance, over the past few years, passenger automobile sales have increased significantly. When compared to sales of 63.2 units in 2019, the number of electric vehicle sales increased by 207% annually to 194.4 thousand in 2020. Further, the German Automotive Board AC DC Power Inverters market held the largest market share, and the U.K Automotive Board AC DC Power Inverters market was the fastest growing market in the European region

The Asia Pacific Automotive Board AC DC Power Inverters market is expected to register significant growth from 2023 to 2032. In the global market for electric vehicles, China is a significant player. Additionally, the Chinese government promotes the use of electric vehicles. By 2040, all petrol and diesel vehicles will be outlawed in the nation. The market for electric passenger cars in China, which is among the biggest in the world, has been expanding quickly in recent years. It is anticipated to increase during the forecast period, which will have an impact on the demand for electric vehicle power inverters as the demand for electric vehicles rises. Moreover, China’s Automotive Board AC DC Power Inverters market held the largest market share, and the Indian Automotive Board AC DC Power Inverters market was the fastest growing market in the Asia-Pacific region.

Automotive Board AC DC Power Inverters Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Automotive Board AC DC Power Inverters market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Automotive Board AC DC Power Inverters industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Automotive Board AC DC Power Inverters industry to benefit clients and increase the market sector. In recent years, the Automotive Board AC DC Power Inverters industry has offered some of the most significant advantages to medicine. Major players in the Automotive Board AC DC Power Inverters market, including Eaton Corporation, Calsonic Kansei, Sensata Technologies, Philips, TOSHIBA Electronic Devices & Storage Corporation, Continental AG, Lear Corporation, Delta Electronics, Samlex America, and Stanley Black & Decker, are attempting to increase market demand by investing in research and development Types.

Drivetrain technologies are developed by Vitesco Technologies GmbH (Vitesco Technologies), originally a corporate unit of Continental AG. For the production of hybrid and battery-electric vehicles, the firm provides electrification solutions, power electronic equipment, and electric drives. The corporate headquarters of Vitesco Technologies are located in Regensburg, Bavaria. Vitesco Technology joined the Motorcycle Consortium for Swappable Batteries in August 2022. It is an innovative international producer of cutting-edge electrification and drive technology (SBMC). Four of the largest two-wheeled vehicle producers in the world—Honda, KTM, Piaggio, and Yamaha—founded the Consortium in 2021; it now has 21 members.

An car manufacturer is Renault SA (Renault). It creates, produces, markets, and distributes electric vehicles, light trucks, and passenger cars. The business also offers a range of services, including as leasing, maintenance, and service agreements. The business operates factories all around the world. Ile-de-France, France's Boulogne-Billancourt, serves as the home base for Renault. In July 2022, Vitesco Technologies, a top global producer of cutting-edge drive technologies and electrification solutions, and Renault Group, a significant player in the automotive industry, announced the signing of a strategic partnership for the joint development and production of power electronics in a so-called "One Box" for electric and hybrid powertrains.

Key Companies in the Automotive Board AC DC Power Inverters market include

• Eaton Corporation


• Calsonic Kansei


• Sensata Technologies


• Philips


• TOSHIBA Electronic Devices & Storage Corporation


• Continental AG


• Lear Corporation


• Delta Electronics


• Samlex America


• Stanley Black & Decker

Automotive Board AC DC Power Inverters Industry Developments

April 2022: For usage in PV rooftop systems up to 135kW, SMA Solar Technology AG has introduced a new range of four inverters with rated outputs of 12kW, 15kW, 20kW, and 25kW. The inverter ensures grid-compliant power regulation for the entire system, enabling PV generators that are up to 150% larger. Its product portfolio has been strengthened by this product launch.

Automotive Board AC DC Power Inverters Market Segmentation

Automotive Board AC DC Power Inverters Type Outlook

• Less than 100 W Automotive on Board AC-DC Power Inverters


• 100 W to 150 W Automotive on Board AC-DC Power Inverters


• More than 150 W Automotive on Board AC-DC Power Inverters

Automotive Board AC DC Power Inverters Application Outlook

• Compact Cars


• Mid-Size Cars


• SUVs


• Luxury Cars


• LCVs


• HCVs

Automotive Board AC DC Power Inverters Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America