UNITED STATES ELECTRIC VEHICLE POWER INVERTER MARKET FORECAST 2024-2032

Alongside, the United States Department of Energy’s (DoE) Inverter Drive Systems Project for Electric Vehicles shows a commitment to innovation. Collaborations with industry leaders, including General Motors and NexGen Power Systems, underscore the imperative of advancing power electronics design, motor integration, thermal management, and system-level optimization. This holistic approach not only elevates the efficiency and performance of electric vehicles but also accentuates the pivotal role of power inverters in steering the trajectory of sustainable transportation. As the United States propels its EV revolution forward, the seamless integration of advanced power inverters emerges as a key component in constructing a resilient and forward-thinking electric mobility infrastructure.

The United States electric vehicle power inverter market is segmented into propulsion type, vehicle type, inverter type, distribution channel, and inverter power. The propulsion type segment includes hybrid electric vehicle, plug-in hybrid vehicle, battery electric vehicle, and fuel cell electric vehicle. A hybrid electric vehicle that combines two or more different power sources for propulsion is known as a hybrid electric vehicle (HEV). An HEV typically consists of an electric motor, a battery, and an internal combustion engine (often a gasoline engine). 

Combining various power sources is primarily done to cut emissions and increase fuel economy. The inverter is a vital HEV component, regulating electrical power flow between the internal combustion engine, electric motor, and battery. In low-speed or low-power conditions, the HEV operates solely on electricity. The inverter ensures the electric motor receives proper AC, protecting the vehicle by avoiding the need for the internal combustion engine. Also, while breaking the electric motor, it acts as a generator, producing AC power. The inverter converts this power back into DC to recharge the battery, a process known as regenerative braking, enhancing overall efficiency.

A hybrid electric vehicle that combines an internal combustion engine and an electric propulsion system is called a plug-in hybrid electric vehicle (PHEV). Because of its dual power source, plug-in hybrid electric vehicles (PHEVs) can run on both conventional fuel and electricity. The ability of a plug-in hybrid electric vehicle (PHEV) to charge its electric battery from an external power source sets it apart from other vehicles. 

Some of the top companies operating in the United States electric vehicle power inverter market include BorgWarner Inc, Marelli Corporation, Toyota Industries Corporation, etc.

BorgWarner Inc, headquartered in Auburn Hills, Michigan, United States, is a motor vehicle parts manufacturer company that provides products and solutions for combustion, hybrid and electric vehicles. The company manufactures and sells its products worldwide to original equipment manufacturers (OEMs) of lightweight vehicles such as passenger cars, sport utility vehicles, vans, and light trucks. The company’s wide range of product portfolio comprises battery systems, chargers, controllers, drive system engineering services, EV transmission, electric drive motors, electric drive modules, power electronics, engine timing systems, AWD and cross-axel systems, and thermal management.