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The North America Electric Vehicle Power Inverter Market has been segmented by Propulsion Type (Full Hybrid Vehicle, Plug-in Hybrid, and Battery Electric Vehicle), Vehicle Type (Passenger Cars and Commercial Vehicles), and Country.
The North American electric vehicle power inverter market is expected to register a CAGR of around 7%, during the forecast period, 2020-2025.
The North American electric vehicle power inverter market covers the latest trends and technological development and provides analysis on the market demand by propulsion type, vehicle type, country, and market share of major electric vehicle power inverter manufacturing companies in North America.
|By Propulsion Type|
|Full Hybrid Vehicle|
|Plug-in Hybrid Vehicle|
|Battery Electric Vehicle|
|By Vehicle Type|
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Currently, Electric vehicles have captured nearly 2% share in the total United States cars fleet. With active participations of industry players and government organization towards EV industry development, the growth of electric vehicle adoption is expected to improve in the future. New electric vehicle models are being launched in the market.
The 2021 Polestar 2, an electric fastback, which can generate 408 horsepower, and has a 78 kWh battery and it can deliver an estimated range of 292 miles. Polestar is jointly owned by Volvo Car Group and Zhejiang Geely Holding of China.
In addition to the above trends, an increase in the number of charging stations in North America, is likely to drive the market during the forecast period, For instance, in 2019, Ford launches North America’s largest electric vehicle public charging network, Ford Connected Charge Station will includes more than 12,000 charging stations which will have nearly 35,000 plugs.
Similarly, EV Connect, a cloud-based software company for electric vehicle charging stations which is currently joined hands with DTE Energy to fund EV charging infrastructure in Michigan. Under this partnership the target is to add around 1,000 charge ports in the state of Michigan.
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In terms of country, the United States is projected to hold the largest share as well as grow with the highest CAGR during the forecast period. Some of the major factors driving the growth in the region are growing environmental concerns, which, in turn, have resulted in the enactment of stringent emission and fuel economy norms, and continuous government support in the form of subsidies. For instance, in January 2020, New Jersey passed a law in for having 330,000 electric cars on its roads by the end of 2025, in addition to that New Jersey wants 85% of cars sold in the state to be electric by 2040.
Along with that, the United States is one of the technologically advanced markets where there is always bottleneck competition between the market participants. The local automotive industry participants are collaborating with new startups to incorporate the latest advancements in the vehicles. For instance,
In 2018, NXP Semiconductors has launched a new automotive power control reference platform for electric vehicle traction motor inverter. For this project NXP and VEPCO Technologies, Inc. have entered into a partnership for high-voltage power control reference platform and inverter prototype.
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The North America electric vehicle power inverter market is dominated by major players like Continental AG, Robert Bosch, Denso Corp., Toyota Industries Corporation, Hitachi Automotive Systems Ltd, and Mitsubishi Electric Corporation, etc. The companies are making partnerships for developing more advanced power inverter for a better range. For instance,
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Propulsion Type
5.1.1 Full Hybrid Vehicle
5.1.2 Plug-in Hybrid Vehicle
5.1.3 Battery Electric Vehicle
5.2 By Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicle
5.3.1 North America
220.127.116.11 United Stateds
18.104.22.168 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Continental AG
6.2.2 Robert Bosch GmbH
6.2.3 Denso Corporation
6.2.4 Toyota Industries Corporation
6.2.5 Hitachi Automotive Systems Ltd
6.2.6 Aptiv PLC
6.2.7 Mitsubishi Electric Corporation
6.2.8 Calsonic Kansei Corporation
6.2.9 Valeo Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS