Global Traction Inverter Market is valued approximately USD 2.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.57% over the forecast period 2020-2027. The traction inverter transforms direct current (DC) from the electrical vehicle (EV) battery into alternating current (AC) to drive the motor. The traction inverter has a direct impact on the protected per-charge distance and overall vehicle efficiency. The market is driven by increase in global electric vehicle sales, increase in the usage of various handheld and household appliances in cars, use of cab aggregator navigation devices and smartphones, car rental, and fleet management service providers. The key players of global Traction inverter market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In September 2018, Hitachi, Ltd. announced the production of an original semiconductor energy-saving power structure, TED-MOS (Trench-Etched-Double-Diffused MOS), using Silicon Carbide ( SiC) material of the next generation that contributes to energy saving in electric vehicles ( EVs). This power semiconductor is a modern device based on the traditional DMOS-FET, a SiC power semiconductor transistor using a fin-structured trench MOSFET. An energy saving of 50 percent was verified using this new system. In order to boost energy efficiency, Hitachi intends to apply this system to engine drive inverters, which are a key component of EVs. However, Lower battery power consumption for required vehicle applications, complex process of design and integration for advanced applications, practical safety requirements would restrain the growth of market.

The regional analysis of global Traction Inverter Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms use of cab aggregator navigation devices and smartphones, car rental, and fleet management service providers. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as Increase in electric vehicle sales, increase in the usage of various handheld and household appliances in cars would create lucrative growth prospects for the Traction Inverter Market across Asia-Pacific region.

Major market player included in this report are:
Delphi Technologies
Continental AG
Robert Bosch GmbH
Mitsubishi Electric Corporation
Fuji Electric
Lear Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Propulsion Type:
Battery electric Vehicle
Hybrid electric vehicle
Plug in hybrid electric vehicles
By Output Power Type:
<= 130 kW
> 130 kW
By Technology Type:
By Semiconductor Materials Type:
Gallium Nitride (GaN)
Silicon (Si)
Silicon Nitride (SiC)
By Vehicle Type:
Passenger Cars
Commercial Vehicles
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Traction Inverter Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers