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Inverters in light electric vehicles dominate total vehicles power electronics market
Power Electronics for Electric Vehicles 2013-2023: Forecasts, Technologies, Players - a new market research report on 2014-03-17 00:29:02
The market for electric vehicle inverters, both hybrid and pure electric, will grow from around $10 billion to an estimated $18 billion from 2013 to 2023. The demand for inverters and electric power conversions is already well established in the automation and industrial control industries which are also growing at considerable pace, therefore the addition of a significant complimentary emerging market will create new sectors for existing inverter and power electronic component suppliers as well as create opportunities for new players, particularly those with specialist electric vehicle knowledge and those able to develop added value through highly integrated electric powertrain systems.

Every electric vehicle needs at least one electric traction motor, many have two or more, and each traction motor requires an inverter to power it. The market place for electric vehicle inverters is both varied and dynamic. Inverter sizes range from a few hundred watts to several hundred kilowatts and span electric vehicle applications from electric cycles to passenger vehicles to commercial and military vehicles, all of which are expanding at unprecedented rates. This wide market place provides scope for players to participate in the general market place and in niche areas, and indeed there no providers of inverters who cross the complete range of electric vehicles.

For sheer volumes, inverters in light electric vehicles such as electric bicycles dominate now and will remain so by 2023, with these being largely in Asia, meeting everyday personal transportation needs in large industrial cities. However, by 2023 inverters and converters in passenger vehicles will dominant by market value as high volume production is established and cost of ownership and range anxiety are reduced.

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