North America Traction Inverter Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Propulsion type (BEV, HEV, PHEV, and Others), Voltage type (Up to 200V, 200 to 900V, and 900v and above), Technology type (IGBT, MOSFET, and Others), and Vehicle type (Passenger Cars, Commercial Vehicles, and Others)   

BMIRE00027598 | Pages: 133 | Automotive and Transportation | Dec 2022 | Type: Regional | Status: Published

The traction inverter market in North America is expected to grow from US$ 1,937.45 million in 2022 to US$ 4,555.90 million by 2028. It is estimated to grow at a CAGR of 15.3% from 2022 to 2028.

 

High demand for lithium-ion battery

 

The production of automotive lithium-ion battery was 160 GWh in 2020 with an increase of 33% from 2019. Thus, rise is attributed to 41% increase in electric car registrations and constant average battery capacity of 55 KWh and 14 kWH for BEVs and PHEVs, respectively. The increase of 10% has been registered for other modes of transport. Although the market share of lithium-ion phosphate batteries has increased, it is still less than 4%. The weighted average cost of automotive batteries declined by 13% in 2020 form 2019, reaching USD 137/KWh at a pack level as per BNEFs yearly survey of battery prices. Low pricing is made available for large quantities of purchases, which is supported by a teardown investigation of a VW ID3 that revealed an approximate cost of USD 100/KWh for its battery cells. As most of the plug-in hybrids and all the electric vehicles use lithium-ion batteries higher demand for the same is attributed to drive the growth of the market.

 

Market Overview

North America is the most technologically advanced region, with major economies, such as the US, Canada, and Mexico. These economies are characterized by higher standards of living, high disposable incomes of individuals, and rapid technological advancements in the technology industry. The demand for automotive components like traction inverters is likely to rise owing to rising electric mobility across major North American countries. Additionally, government initiatives to reduce the carbon emission is likely to surge the demand for traction inverters used in electric vehicles. Furthermore, with growing concerns of consumers for safety features like advanced driver assistance system in vehicles is further driving the market in the region. Having influenced by growth in logistics and delivery services couple with fleet expansion of vehicles by Amazon and other e-commerce giants the demand for commercial vehicles is rising at a greater pace. US being the prime location for majority of automotive OEMs is being surged by supportive initiatives and policies by the government in the country. However, the use of rental and car sharing is rising in the region which is shooting challenges for the market growth.

 

 North America Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

 North America Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

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North America Traction Inverter Market Segmentation 

 

The North America traction inverter market is segmented into propulsion type, voltage type, technology type, vehicle type and country. Based on propulsion type, the market is segmented into BEV, HEV, PHEV and others. The BEV segment registered the largest market share in 2022.

  • Based on voltage type, the North America traction inverter market is segmented 200V, 200 to 900V, 900V and above. The 200 to 900V segment registered the largest market share in 2022.
  • Based on technology type, the North America traction inverter market is segmented into IGBT, MOSFET and others. The MOSFET segment registered the largest market share in 2022.
  • Based on vehicle type, the North America traction inverter market is segmented into passenger cars, commercial vehicles, and others. The passenger cars segment registered the largest market share in 2022.
  • Based on country, the market is segmented into US, Canada, and Mexico. US dominated the market share in 2022.
  • BorgWarner Inc.; Continental AG; Curtiss-Wright Industrial Group; Dana TM4; Delphi Technologies Plc; Hitachi, Ltd.; Mitsubishi Electric Corporation; Siemens AG; Toshiba Corporation; and Voith GmbH & Co. KGaA are the leading companies operating in the traction inverter market in the region.

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        North America Traction Inverter Market– By Propulsion type

1.3.2        North America Traction Inverter Market– By Voltage type

1.3.3        North America Traction Inverter Market– By Technology type

1.3.4        North America Traction Inverter Market– By Vehicle type

1.3.5        North America Traction Inverter Market– By Country

2.           Key Takeaways

3.        Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           North America Traction Inverter Market Landscape

4.1         Market Overview

4.2         North America PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           North America Traction Inverter Market- Key Market Dynamics

5.1         Market Drivers

5.1.1        Increasing Demand of Electric and Hybrid Electric Vehicles

5.1.2        High demand for lithium-ion battery

5.2         Market Restraints

5.2.1        Shortage of semiconductors and chips

5.3         Market Opportunities

5.3.1        Government and market players initiatives to booster the market growth

5.4         Future Trends

5.4.1        Adoption of Advanced Technologies

5.5         Impact Analysis of Drivers and Restraints

6.           Traction Inverter Market– North America Market Analysis

6.1         North America Traction Inverter Market Overview

6.2         North America Traction Inverter Market Forecast and Analysis

7.           North America Traction Inverter Market Revenue and Forecast to 2028 – Propulsion type

7.1         Overview

7.2         North America Traction Inverter Market, By Propulsion type (2021 And 2028)

7.3         BEV

7.3.1        Overview

7.3.2        BEV: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)

7.4         HEV

7.4.1        Overview

7.4.2        HEV: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)

7.5         PHEV

7.5.1        Overview

7.5.2        PHEV: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)

7.6         Others

7.6.1        Overview

7.6.2        Others: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)

8.           North America Traction Inverter Market Revenue and Forecast to 2028 – Voltage type

8.1         Overview

8.2         North America Traction Inverter Market, By Voltage type (2021 And 2028)

8.3         Up to 200V

8.3.1        Overview

8.3.2        Up to 200V: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)

8.4 to 900V

8.4.1        Overview

8.4.2 to 900V: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)

8.5V and above

8.5.1        Overview

8.5.2V and above: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)

9.           North America Traction Inverter Market Revenue and Forecast to 2028 – Technology type

9.1         Overview

9.2         North America Traction Inverter Market, By Technology type (2021 And 2028)

9.3         IGBT

9.3.1        Overview

9.3.2        IGBT: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)

9.4         MOSFET

9.4.1        Overview

9.4.2        MOSFET: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)

9.5         Others

9.5.1        Overview

9.5.2        Others: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)

10.        North America Traction Inverter Market – By Vehicle Type

10.1      Overview

10.2      North America Traction Inverter Market, by Vehicle Type (2021 and 2028)

10.3      Passenger Cars

10.3.1     Overview

10.3.2     Passenger Cars: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)

10.4      Commercial Vehicles

10.4.1     Overview

10.4.2     Commercial Vehicles: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)

10.5      Others

10.5.1     Overview

10.5.2     Others: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)

11.        North America Traction Inverter Market– Country Analysis

11.1      Overview

11.1.1     North America: Traction Inverter, by Key Country

11.1.1.1       US: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)

11.1.1.1.1       US: Traction Inverter Market, By Propulsion type

11.1.1.1.2       US: Traction Inverter Market, By Voltage type

11.1.1.1.3       US: Traction Inverter Market, By Technology type

11.1.1.1.4       US: Traction Inverter Market, By Vehicle type

11.1.1.2       Canada: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)

11.1.1.2.1       Canada: Traction Inverter Market, By Propulsion type

11.1.1.2.2       Canada: Traction Inverter Market, By Voltage type

11.1.1.2.3       Canada: Traction Inverter Market, By Technology type

11.1.1.2.4       Canada: Traction Inverter Market, By Vehicle type

11.1.1.3       Mexico: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)

11.1.1.3.1       Mexico: Traction Inverter Market, By Propulsion type

11.1.1.3.2       Mexico: Traction Inverter Market, By Voltage type

11.1.1.3.3       Mexico: Traction Inverter Market, By Technology type

11.1.1.3.4       Mexico: Traction Inverter Market, By Vehicle type

12.        Industry Landscape

12.1      Overview

12.2      Market Initiative

12.3      New Product Development

12.4      Merger and Acquisition

13.        Company Profile

13.1      BorgWarner Inc.

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2      Continental AG

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3      Delphi Technologies Plc

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4      Hitachi, Ltd.

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5      Mitsubishi Electric Corporation

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6      Siemens AG

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7      Toshiba Corporation

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8      Voith GmbH & Co. KGaA

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

13.9      Curtiss-Wright Industrial Group

13.9.1     Key Facts

13.9.2     Business Description

13.9.3     Products and Services

13.9.4     Financial Overview

13.9.5     SWOT Analysis

13.9.6     Key Developments

13.10   Dana TM4

13.10.1  Key Facts

13.10.2  Business Description

13.10.3  Products and Services

13.10.4  Financial Overview

13.10.5  SWOT Analysis

13.10.6  Key Developments

14.        Appendix

14.1      About The Insight Partners

14.2      Word Index

 

 

LIST OF TABLES

Table 1.             North America Traction Inverter Market, Revenue and Forecast, 2019–2028 (US$ Million)

Table 2.             US: Traction Inverter Market, By Propulsion type – Revenue and Forecast to 2028 (US$ Million)

Table 3.             US: Traction Inverter Market, By Voltage type – Revenue and Forecast to 2028 (US$ Million)

Table 4.             US: Traction Inverter Market, By Technology type– Revenue and Forecast to 2028 (US$ Million)

Table 5.             US: Traction Inverter Market, By Vehicle type– Revenue and Forecast to 2028 (US$ Million)

Table 6.             Canada: Traction Inverter Market, By Propulsion type– Revenue and Forecast to 2028 (US$ Million)

Table 7.             Canada: Traction Inverter Market, By Voltage type – Revenue and Forecast to 2028 (US$ Million)

Table 8.             Canada: Traction Inverter Market, By Technology type– Revenue and Forecast to 2028 (US$ Million)

Table 9.             Canada: Traction Inverter Market, By Vehicle type– Revenue and Forecast to 2028 (US$ Million)

Table 10.          Mexico: Traction Inverter Market, By Propulsion type – Revenue and Forecast to 2028 (US$ Million)

Table 11.          Mexico: Traction Inverter Market, By Voltage type – Revenue and Forecast to 2028 (US$ Million)

Table 12.          Mexico: Traction Inverter Market, By Technology type– Revenue and Forecast to 2028 (US$ Million)

Table 13.          Mexico: Traction Inverter Market, By Vehicle type– Revenue and Forecast to 2028 (US$ Million)

Table 14.          List of Abbreviation

 

 

LIST OF FIGURES

Figure 1.           North America Traction Inverter Market Segmentation

Figure 2.           North America Traction Inverter Market Segmentation – Country

Figure 3.           North America Traction Inverter Market Overview

Figure 4.           North America Traction Inverter Market, By Voltage type

Figure 5.           North America Traction Inverter Market, By Country

Figure 6.           North America: PEST Analysis

Figure 7.           Traction Inverter Market Ecosystem Analysis

Figure 8.           Expert Opinion

Figure 9.           North America Traction Inverter Market: Impact Analysis of Drivers and Restraints

Figure 10.        North America Traction Inverter Market, Forecast and Analysis (US$ Million)

Figure 11.        North America Traction Inverter Market, By Propulsion type (2021 and 2028)

Figure 12.        North America BEV: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

Figure 13.        North America HEV: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

Figure 14.        North America PHEV: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

Figure 15.        North America Others: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

Figure 16.        North America Traction Inverter Market, By Voltage type (2021 and 2028)

Figure 17.        North America Up to 200V: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

Figure 18.        North America 200 to 900V: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

Figure 19.        North America 900V and above: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

Figure 20.        North America Traction Inverter Market, By Technology type (2021 and 2028)

Figure 21.        North America IGBT: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

Figure 22.        North America MOSFET: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)

Figure 23.        North America Others: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        North America Traction Inverter Market Revenue Share, by Vehicle Type (2021 and 2028)

Figure 25.        North America Passenger Cars: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26.        North America Commercial Vehicles: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27.        North America Others: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28.        North America Traction Inverter Market, by Key Country – Revenue (2021) (US$ Million)

Figure 29.        North America: Traction Inverter Revenue Share, by Key Country (2021 and 2028)

Figure 30.        US: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)

Figure 31.        Canada: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)

Figure 32.          Mexico: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)

  1. BorgWarner Inc.
  2. Continental AG
  3. Curtiss-Wright Industrial Group
  4. Dana TM4
  5. Delphi Technologies Plc
  6. Hitachi, Ltd.
  7. Mitsubishi Electric Corporation
  8. Siemens AG
  9. Toshiba Corporation
  10. Voith GmbH & Co. KGaA
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America traction inverter market.       
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the North America traction inverter market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the traction inverter market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution  

 

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