Power Electronics for Electric Vehicle Market to Garner $30.01 Bn, Globally, by 2026 at 35.5% CAGR, Says Allied Market Research
Rise in demand for energy-efficient battery-powered devices, stringent emission regulation to reduce vehicle weight and emission, and government initiative to balance environmental pollution have boosted the growth of the global Power Electronics for Electric Vehicle Market
PORTLAND, Oregon, Feb. 11, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Power Electronics for Electric Vehicle Market By Application (Inverter, Converter, and On-board Charger) and End Use (Automotive, Railways, Marine, and Electrically Powered Airborne Vehicles): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global power electronics for electric vehicles industry was pegged at $2.59 billion in 2018 and is projected to reach $30.01 billion by 2026, registering a CAGR of 35.5% from 2019 to 2026.
Incentives for Market Growth
Rise in demand for energy-efficient battery-powered devices, stringent emission regulations to reduce vehicle weight and emission, and government initiatives to balance environmental pollution have boosted the growth of the global Power Electronics for Electric Vehicle Market. However, increasing cost of electric vehicles and complexity in designing and integrating advance power electronic components in electric vehicles hamper the market. On the contrary, technological advancements in vehicles and improvement in electric vehicles R&D and battery technology are expected to create lucrative opportunities in the near future.
Download Sample Report @ https://www.alliedmarketresearch.com/request-sample/3110
Inverter Segment Dominated the Market
The inverter segment held the largest share in 2018, contributing to more than half of the global Power Electronics for Electric Vehicle Market, as power inverter has lower power switching losses, high efficiency, and smaller size. However, the on-board charger segment is expected to register the fastest CAGR of 49.5% from 2019 to 2026, owing to increasing demand for power electronic component with advance technologies in automotive electric and electronic system.
Automotive Segment Held the Largest Share
The automotive segment dominated the global Power Electronics for Electric Vehicle Market in 2017, accounting for more than three-fifths of the market, owing to rise in demand for fuel-efficient vehicles and stringent vehicle norms & regulations. However, the railways segment is expected to register the fastest CAGR of 40.7% during the forecast period, due to increase in economic growth, new construction lines, and electrifying existing lines to boosting transportation volume.
To Explore More, Make Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/3110
Major Market Players
- Denso Corporation
- Robert Bosch GmbH
- Infineon Technologies AG
- Delphi Technologies
- Continental AG
- Hitachi Automotive Systems, Ltd.
- Delphi Technologies
- Valeo
- Mitsubishi Electric Corporation
- Denso Corporation
- Infineon Technologies
- Robert Bosch GmbH
- Hella
- Panasonic Corporation
- Tesla Inc.
- Toyota Industries Corporation
- Hangzhou Tiecheng Information Technology
Access Avenue (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/Avenue-Membership-details
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Similar Reports:
Power Electronics Market Expected to Garner $25 Billion By 2022
Power MOSFET Market Expected to Reach $6,340 Million By 2023
Micro Inverter Market Projected to Reach $2.7 Billion By 2022
Insulated-Gate Bipolar Transistors (IGBTs) Market Expected to Garner $11 Billion By 2022
Film Capacitor Market Projected to Reach $2,589.1 Million By 2026
Pre-Book Now with 10% Discount:
Power Module Packaging Market: Global Opportunity Analysis and Industry Forecast By 2019 - 2026
Smart Battery Charger Market: Global Opportunity Analysis and Industry Forecast By 2019 - 2026
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn and Twitter
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Share this article