Asia Pacific Electric Vehicle Power Inverter Market Size study, by Propulsion Type by Vehicle Type and Country Forecasts 2022-2032

Description

List of Tables

Asia Pacific Electric Vehicle Power Inverter Market is valued approximately at USD 2.73 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 28.40% over the forecast period 2024-2032. An electric vehicles (EV) power inverter is an essential part of electric vehicle that transforms the vehicle's battery's stored direct current (DC) into alternating current (AC), which powers the electric motor. This conversion is essential because most electric motors operate on AC, while batteries store energy in DC form. Through modifications to the frequency and amplitude of the AC current, the inverter also controls the torque and speed of the motor. Furthermore, it has the ability to change AC to DC when applying regenerative braking, which replenishes the battery and improves the efficiency and range of the car. Thus, these factors further drive demand for power inverters in the Asia Pacific Electric Vehicle Power Inverter market.

Government policies and incentives are crucial drivers of demand for the Asia Pacific electric vehicle (EV) power inverter market. Various countries, such as China, Japan, South Korea, India and New Zealand are implementing robust regulatory frameworks to promote EV adoption. These measures include substantial subsidies, tax rebates, and incentives aimed at reducing the purchase cost of EVs, making them more attractive to consumers. Additionally, policies such as fuel economy standards and zero-emission vehicle (ZEV) mandates are compelling automakers to increase their EV production. For instance, in June 2021, New Zealand proposed a clean car discount, which would have given new car customers a rebate of $8,625 for electric cars (EVs) costing less than $80,000. Governments are also investing heavily in EV infrastructure, including the development of extensive charging networks, which alleviates range concern and encourages EV usage. These policies are a part of broader environmental strategy to reduce carbon emissions and combat climate change, thereby significantly boosting the market for EV power inverters, which are essential components for the efficient functioning of electric vehicles. However, complexity of EV powertrain systems and a high initial cost of advanced inverter technologies can stifle market growth between 2022 and 2032.

The key countries considered for the Asia Pacific Electric Vehicle Power Inverter market study includes China, India, Japan, South Korea, Australia and Rest of Asia Pacific. In 2023, China was the largest regional market in terms of revenue. China is the largest market for electric vehicles globally, with rapidly increasing consumer adoption. The growing popularity of EVs directly translates to higher demand for power inverters, a crucial component for EV operation. Furthermore, the Chinese government offers substantial subsidies and tax incentives for the purchase of electric vehicles. These financial benefits significantly reduce the upfront cost of EVs, making them more attractive to consumers. The New Energy Vehicle (NEV) mandate requires automakers to produce a certain percentage of electric vehicles. This policy ensures a steady supply of EVs in the market, driving demand for power inverters. The market in India is expected to develop at the fastest rate over the forecast period.

Major market player included in this report are:

Sungchang Autotech Co., Ltd.
Meidensha Corporation
Mitsubishi Electric Corporation
Marelli Corporation
DENSO Corporation
Hitachi Astemo Ltd
Nissan Motor Co., Ltd.
Toyota Industries Corporation
Company 9
Company 10

The detailed segments and sub-segment of the market are explained below:

By Propulsion Type

Hybrid Electric Vehicles
Plug-in Hybrid Electric Vehicle
Battery Electric Vehicle
Fuel Cell Electric Vehicle

By Vehicle Type

Passenger Cars
Commercial Vehicles

By Region:

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Asia Pacific Electric Vehicle Power Inverter Market Definition and Research Assumptions

1.1. Research Objective
1.2. Market Definition
1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
  - 1.3.3.1. Availability
  - 1.3.3.2. Infrastructure
  - 1.3.3.3. Regulatory Environment
  - 1.3.3.4. Market Competition
  - 1.3.3.5. Economic Viability (Consumer's Perspective)
- 1.3.4. Demand Side Analysis
  - 1.3.4.1. Regulatory frameworks
  - 1.3.4.2. Technological Advancements
  - 1.3.4.3. Environmental Considerations
  - 1.3.4.4. Consumer Awareness & Acceptance
1.4. Estimation Methodology
1.5. Years Considered for the Study
1.6. Currency Conversion Rates

Chapter 2. Executive Summary

2.1. Asia Pacific Electric Vehicle Power Inverter Market Size & Forecast (2022- 2032)
2.2. Regional Summary
2.3. Segmental Summary
- 2.3.1. By Propulsion Type
- 2.3.2. By Vehicle Type
2.4. Key Trends
2.5. Recession Impact
2.6. Analyst Recommendation & Conclusion

Chapter 3. Asia Pacific Electric Vehicle Power Inverter Market Dynamics

3.1. Market Drivers
3.2. Market Challenges
3.3. Market Opportunities

Chapter 4. Asia Pacific Electric Vehicle Power Inverter Market: Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economic
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Asia Pacific Electric Vehicle Power Inverter Market Size & Forecasts by Propulsion Type 2022-2032

5.1. Hybrid Electric Vehicles
5.2. Plug-in Hybrid Electric Vehicle
5.3. Battery Electric Vehicle
5.4. Fuel Cell Electric Vehicle

Chapter 6. Asia Pacific Electric Vehicle Power Inverter Market Size & Forecasts by Vehicle Type 2022-2032

6.1. Passenger Cars
6.2. Commercial Vehicles

Chapter 7. Asia Pacific Electric Vehicle Power Inverter Market Size & Forecasts by Country 2022-2032

7.1. China Electric Vehicle Power Inverter Market
- 7.1.1. Propulsion Type breakdown size & forecasts, 2022-2032
- 7.1.2. Vehicle Type breakdown size & forecasts, 2022-2032
7.2. India Electric Vehicle Power Inverter Market
7.3. Japan Electric Vehicle Power Inverter Market
7.4. Australia Electric Vehicle Power Inverter Market
7.5. South Korea Electric Vehicle Power Inverter Market
7.6. Rest of Asia Pacific Electric Vehicle Power Inverter Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Sungchang Autotech Co., Ltd.
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Meidensha Corporation
- 8.3.3. Mitsubishi Electric Corporation
- 8.3.4. Marelli Corporation
- 8.3.5. DENSO Corporation
- 8.3.6. Hitachi Astemo Ltd
- 8.3.7. Nissan Motor Co., Ltd.
- 8.3.8. Toyota Industries Corporation

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes

LIST OF TABLES

TABLE 1. Asia Pacific Electric Vehicle Power Inverter market, report scope
TABLE 2. Asia Pacific Electric Vehicle Power Inverter market estimates & forecasts by Country 2022-2032 (USD Billion)
TABLE 3. Asia Pacific Electric Vehicle Power Inverter market estimates & forecasts by Propulsion Type 2022-2032 (USD Billion)
TABLE 4. Asia Pacific Electric Vehicle Power Inverter market estimates & forecasts by Vehicle Type 2022-2032 (USD Billion)
TABLE 5. Asia Pacific Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 6. Asia Pacific Electric Vehicle Power Inverter market by country, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 7. Asia Pacific Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 8. Asia Pacific Electric Vehicle Power Inverter market by country, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 9. Asia Pacific Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 10. Asia Pacific Electric Vehicle Power Inverter market by country, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 11. Asia Pacific Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 12. Asia Pacific Electric Vehicle Power Inverter market by country, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 13. Asia Pacific Electric Vehicle Power Inverter market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 14. Asia Pacific Electric Vehicle Power Inverter market by country, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 15. China Electric Vehicle Power Inverter market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 16. China Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 17. China Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 18. India Electric Vehicle Power Inverter market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 19. India Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 20. India Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 21. Japan Electric Vehicle Power Inverter market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 22. Japan Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 23. Japan Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 24. Australia Electric Vehicle Power Inverter market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 25. Australia Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 26. Australia Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 27. South Korea Electric Vehicle Power Inverter market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 28. South Korea Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 29. South Korea Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 30.
TABLE 31. RoAPAC Electric Vehicle Power Inverter market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 32. RoAPAC Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 33. RoAPAC Electric Vehicle Power Inverter market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 34. List of secondary sources, used in the study of Asia Pacific Electric Vehicle Power Inverter Market.
TABLE 35. List of primary sources, used in the study of Asia Pacific Electric Vehicle Power Inverter Market.
TABLE 36. Years considered for the study.
TABLE 37. Exchange rates considered.

LIST OF FIGURES

FIG 1. Asia Pacific Electric Vehicle Power Inverter market, research methodology
FIG 2. Asia Pacific Electric Vehicle Power Inverter market, market estimation techniques
FIG 3. Asia Pacific market size estimates & forecast methods.
FIG 4. Asia Pacific Electric Vehicle Power Inverter market, key trends 2023
FIG 5. Asia Pacific Electric Vehicle Power Inverter market, growth prospects 2022-2032
FIG 6. Asia Pacific Electric Vehicle Power Inverter market, porters 5 force model
FIG 7. Asia Pacific Electric Vehicle Power Inverter market, pestel analysis
FIG 8. Asia Pacific Electric Vehicle Power Inverter market, value chain analysis
FIG 9. Asia Pacific Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Billion)
FIG 10. Asia Pacific Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Billion)
FIG 11. Asia Pacific Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Billion)
FIG 12. Asia Pacific Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Billion)
FIG 13. Asia Pacific Electric Vehicle Power Inverter market by segment, 2022 & 2032 (USD Billion)
FIG 14. Asia Pacific Electric Vehicle Power Inverter market, Country snapshot 2022 & 2032
FIG 15. Asia pacific Electric Vehicle Power Inverter market 2022 & 2032 (USD Billion)
FIG 16. Asia Pacific Electric Vehicle Power Inverter market, company market share analysis (2023)