Technical FAQs 4

How big is the electric vehicle power inverter market?

Reuse requires attribution under CC BY 4.0. The Electric Vehicle Power Inverter Market size is estimated at USD 8.97 billion in 2025, and is expected to reach USD 21.68 billion by 2030, at a CAGR of 19.31% during the forecast period (2025-2030).

Why are EV power inverters gaining popularity in India?

The country has developed a robust EV supply chain, from battery manufacturing to vehicle production, leading to a surge in demand for power inverters to handle the increased production of EVs. India’s electric vehicle power inverter market is growing rapidly, particularly in the two-wheeler and commercial vehicle segments.

What is the market share of electric vehicle power inverter in 2024?

By voltage architecture, ≤400 V systems accounted for 67.73% of the electric vehicle power inverter market share in 2024, and ≥800 V platforms expand at a 19.32% CAGR during the forecast period (2025-2030). By semiconductor material, silicon IGBT devices represented 61.25% of the electric vehicle power inverter market share in 2024.

Why is China a leader in electric vehicle power inverter market?

China's position as both the world's largest EV producer and consumer served as the primary driver of this market dominance China electric vehicle power inverter market is driven by the governmental support in adopting EVs through substantial subsidies, incentives, and regulatory frameworks designed to promote the growth of electric vehicles.

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