Traction Inverter Market 2021 Expected to reach US$ 8,043.1 Million with 12.2% CAGR Forecast to 2026

Traction Inverter Market 2021-2026

Traction Inverter Market 2021-2026

Traction Inverter Market 2021-2026

The estimated value of the traction inverter market in 2018 is US$ 3,207.8 Mn, which is expected to expand at a CAGR of 12.2% and reach US$ 8,043.1 Mn by the end of 2026. In addition, the traction inverter market is projected to create an incremental $ opportunity worth US$ 4,835.3 Mn during the forecast period.  

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Persistence Market Research has rolled out a new market research report on “Traction Inverter Market: Global Industry Analysis 2013 – 2017 and Forecast, 2018 – 2026”, which examines the traction inverter market and offers critical insights for the next eight years. Based on the findings specified in the traction inverter report, the global traction inverter market is expected to witness rising demand for comfortable options and rising automotive vehicle production. These two factors are projected to drive the global traction inverter market.

 Key Players:

The report has profiled some of the Important players prevalent in the global like – BorgWarner Inc., Delphi Technologies, Siemens AG, Mitsubishi Electric Corporation, ABB, Toshiba Corporation, Hitachi, Ltd., Voith GmbH, Infineon Technologies AG, Curtiss-Wright, TM4 Inc. and Prodrive Technologies and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Traction Inverter.

Traction Inverter Market Dynamics

Governments of various countries are supporting the use of electric vehicles by offering attractive incentives and subsidies to owners, thereby attributing towards the growth of the traction inverters sale. For instance, in China, the government offers subsidies ranging from US$ 6,750 to US$ 14,000, depending on the size of battery pack, thus augmenting the demand of traction inverters in the country.

Cities such as Beijing and Shanghai offer free registration plates for electric hybrid vehicles, further improving the market for traction inverters. Several countries have allotted grants for the development of hybrid and electric vehicles. The government of US has introduced incentives to the owners of hybrid electric vehicles in the form of tax credits, amounting to a maximum of US$ 7,500, based on the type of battery used, which in turn, is anticipated to fuel the growth of traction inverters.  

Additionally, the uncontrolled emission of VOCs from engines pollutes the environment, which is harmful for the living beings exposed to this atmosphere. The current pollution rate can be brought down if customers opt for hybrid or electric vehicles, which are less polluting and far more efficient than traditional vehicles. These factors are estimated to boost the sales of traction inverters in the global traction inverter market over the forecast period.

Traction Inverter Market Forecast

By vehicle type, the rail type segment is projected to dominate with a value US$ 1,397 Mn in 2018. However, the electric vehicle segment is projected to account for a ~85% volume share in the global traction inverter market during the forecast period. In terms of traction inverter’s market growth, the plug-in hybrid electric vehicle segment is projected to grow with a prominent growth rate during the latter half of the forecast period.

By technology segment, the SiC segment is projected to dominate the global traction inverter market. In terms of volume, the demand for the Si-IGBT segment is projected to be pegged at 2.8 Mn units by the end of 2018. In terms of value, the SiC segment is projected to create an incremental $ opportunity worth US$ 592 Mn in the global traction inverter market over the forecast period.

By sales channel, the OEM segment is projected to dominate the global traction inverter market with a year-over-year growth rate of 11.3% in 2018. However, the aftermarket segment is projected to account for more than an 8% share in the global traction inverter market. However, the potential for the traction inverter aftermarket is expected to remain relatively low, owing to the low replacement rate of traction inverters in the global market.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders 
Traction Inverter Market Manufacturers 
Traction Inverter Market Distributors/Traders/Wholesalers 
Traction Inverter Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Major Highlights of the Traction Inverter Market Report:

The Traction Inverter Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.

The report dives deeper into the market and explains the dynamic factors bolstering market growth.

The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the Traction Inverter Market presence across major regions of the world.

It determines the production & consumption capacities and demand & supply dynamics of each regional market.

The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.

It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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