The automotive power inverters market is growing due to increased demand for uninterrupted power supply, driven by urbanization and electrification trends.
Power inverters are special type of electric devices that convert the direct current (DC) into the alternating current (AC). They provide low operating cost and remove the inconvenience of using change-over switches. Because of these properties, they are used to operate various devices, tools, and other electrical products. Power inverters are usually available in different sizes, types and power ranges as per the wide-ranging consumer requirements & preferences. Few of these variants are plug-in grid tie power inverters, modified sine-wave power inverters, and solar power inverters. Due to increase in demand for uninterrupted power supply to run electronic gadgets for instance air conditioners, television, laptops, and refrigerators is a prime factor spurring the growth of automotive power inverter market. Additionally, growth in urbanization in emerging economies and increase in rural electrification projects are coupled together to flow the growth of the automotive power inverter market throughout the forecast period.
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With increasing electrification and rapid urbanization, most of the population is now reliant on electronic appliances & devices, including televisions, computers, air conditioners, refrigerators and among others. This has led to a high demand for inverters that provide an uninterruptible power source and an effective backup solution in the event of an emergency. Moreover, inverters generate zero emissions when generating energy and are also significantly quieter in operation than the standard generators.
Referring to the study, Global Automotive Power Inverters Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027. Some of the key companies operating in the global automotive power inverters market include Power Bright, BESTEK, Xantrex Technologies Prosine, KRIEGER, POTEK, Power TechOn, Cobra, Whistler, Topper-E, Duracell, STANLEY FATMAX, Cobra, Rally Cup Holder, DEWALT and among others. Key companies are investing in research & development (R&D) activities to launch new technologies and improve their operational characteristics. Companies have just invented an innovative category of power-inverters that use a single-switching transistor and generate the vast levels of voltage, as compared to the power inverters that use manifold transistors and provide only one-voltage level.
Based on type, automotive power inverters market can be segregated as pure sine wave and modifies sine wave. In addition, based on applications, market can be segregated as commercial vehicle and passenger cars.
Rise in demand for uninterrupted power supply to run an electronic devices such as air conditioners, television, laptops, and refrigerators is a key factor spurring the growth of automotive power inverter market. Additionally, increase in rural electrification projects and growth in urbanization are other major factors, which are responsible for growth of the Automotive Power Inverters Market. Apart from this, high product cost paired with low battery lifespan may impact the market. Moreover, rise in demand for uninterrupted power supply in schools, corporate offices and other commercial places is a leading opportunity for market.
It is projected that future of the global market will be bright as a result of increase in urbanization & rural electrification rates during the forecast period.
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Global Automotive Power Inverters Market Growth
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The article discusses the growth and trends in the global automotive power inverters market from 2021 to 2027.
Increased demand for uninterrupted power supply and urbanization are key drivers.
Key players include Power Bright, BESTEK, and Xantrex Technologies.
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