What is Global Automotive On-board Power Inverters Market?
The Global Automotive On-board Power Inverters Market is a specialized and in-depth study of the automotive industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Automotive On-board Power Inverters market with detailed market segmentation by product, application, and geography. The global Automotive On-board Power Inverters market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Automotive On-board Power Inverters market players and offers key trends and opportunities in the market.
Less Than 300 W, Over 300 W in the Global Automotive On-board Power Inverters Market:
The Global Automotive On-board Power Inverters Market is segmented based on product into Less Than 300 W and Over 300 W. The Less Than 300 W segment holds the majority share in the market due to its wide range of applications in various automotive systems. On the other hand, the Over 300 W segment is expected to grow at a significant rate during the forecast period due to the increasing demand for high power inverters in commercial vehicles and electric vehicles. The growth of this segment is mainly driven by the increasing adoption of electric vehicles and the growing need for power-efficient systems in these vehicles.
Passenger Cars, Commercial Vehicles in the Global Automotive On-board Power Inverters Market:
The Global Automotive On-board Power Inverters Market finds its applications in Passenger Cars and Commercial Vehicles. In Passenger Cars, the power inverters are used to convert the DC power from the car battery into AC power to run various electronic devices such as laptops, mobile phones, and other portable devices. In Commercial Vehicles, the power inverters are used to power heavy-duty appliances and equipment such as refrigerators, air conditioners, and power tools. The increasing demand for comfort and convenience features in passenger cars and the growing need for power-efficient systems in commercial vehicles are driving the growth of the Automotive On-board Power Inverters market in these applications.
Global Automotive On-board Power Inverters Market Outlook:
The Global Automotive On-board Power Inverters Market is showing promising growth. In 2022, the market was valued at US$ 256 million and it is expected to reach US$ 307 million by 2029. This indicates a steady Compound Annual Growth Rate (CAGR) of 2.6% during the forecast period from 2023 to 2029. The market is dominated by the top four manufacturers who collectively hold a share of over 45%. When we look at the product segmentation, the Less Than 300 W category emerges as the largest segment, commanding a share of over 65%. This dominance can be attributed to the wide range of applications that this product category serves in various automotive systems.
| Report Metric | Details |
| Report Name | Automotive On-board Power Inverters Market |
| Accounted market size in 2022 | US$ 256 million |
| Forecasted market size in 2029 | US$ 307 million |
| CAGR | 2.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Magnum Dimensions, NFA, ROADPRO, Bestek, Philips, Cobra, Stanley, Ampeak, Cotek, Whistler, Ozio, Schumacher, Samlex America, Power Bright, ERAYAK |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
