RnRMarketResearch.com includes Global Automotive On-board Power Inverter Market 2016-2020 report adds in including 72 Pages.
The report, Global Automotive On-Board Power Inverter Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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The analysts forecast global automotive on-board power inverter market to grow at a CAGR of 1.17% during the period 2016-2020. Several structural changes have affected the automotive industry since the past decade in the form of engine downsizing, electrification of automotive mechanism, emission regulations, connectivity, and safety. The industry is directly correlated with the economic and regulatory environment and consumer confidence. There exist considerable overlaps in the development of electronic auto technology wherein the twin drivers of regulatory requirements and consumer demands coincide, especially when it comes to the safety aspect of auto electronics. On the other hand, interiors and infotainment systems’ development rides solely on consumer demand.
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The following companies are the key players in the global automotive on-board power inverter market: Lear, Delta Electronics, Calsonic Kansei, Magnum Dimensions, Samlex America, Bestek, and Stanley.
One of the key trends for market growth will be double digit growth rates of the electric vehicle market. The anticipated rapid growth in electric vehicle sales is likely to drive the market for on-board power inverters even beyond the forecast period. Secondary sources reveal that the electric vehicle sales are likely to grow over 85% in the next 25 years.
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According to the report, one of the key drivers for market growth will be assistance in increasing driving time. Across several parts of the globe that include developed nations like the US and developing regions like India have statistics that back the increased time spent driving every day due to growing traffic congestion. As per a secondary source, the time spent by American rush-hour commuters have been cited to increase by 5%-10% when compared with figures between 2014 and 2010.
Further, the report states that the installation has to be done with the necessary specifications such as wire sizing as improper installation may have a detrimental effect on the vehicles’ electrical system. This is why the OEM installation or fitment by an authorized dealer is highly recommended. Low awareness levels among users in terms of the load the power inverters can handle is also a challenge felt by vendors operating in this space.