The ongoing COVID-19 Pandemic Expected to Burgeon the Scope of Automotive On-Board Power Inverter– Fact.MR Report

CITY, Country, 2021-Feb-09 — /EPR Network/ —

Automotive industry is in the middle of a significant transition, owing to the growing trend of car sharing, electric, and self-driving vehicles. This segment is witnessing numerous changes in the form of electrification of automotive components, engine downsizing, instant connectivity, enhanced safety, and implementation of emission regulations. This is leading to increased penetration of electronic content in luxury and modern vehicles, such as drive-by-wire technologies, infotainment systems, and collision avoidance systems increasing power requirement of vehicles. This is further creating a significant need for automotive on-board power inverters.

Growing focus of automotive OEMs towards efficient power management has been identified as one of the key trends that are likely to gain momentum in the automotive on-board power inverter market.

Growing popularity of electric vehicles is also creating a significant demand for automotive on-board power inverters. Consumers are seeking ways to operate various electronics, such as laptops to stay connected in long-distance journeys. This in turn is driving manufacturers to equip vehicles with power inverters for travelers to keep their electronic devices charged for longer use. These factors are underpinning gains in the automotive on-board power inverter market.

Significant growth is expected in the automotive on-board power inverter market owing to the expanding rental cab services that use telematics system, GPS, and accelerating production of passenger cars in the forthcoming years.

Request for Sample Report with Statistical Info:https://www.factmr.com/connectus/sample?flag=S&rep_id=501

Manufacturers in the automotive on-board power inverter market are providing compact and efficient packaging of automotive on-board power inverter charger units (ICU) for electric vehicles. These charger units of automotive on-board power inverter can be installed in many ways by providing a range of electric vehicle propulsion making it suitable for all types of vehicle such as on-road trucks, yard tractors, and different buses. As these vehicles with automotive on-board power inverter are more reliable than conventional internal combustion engine or hybrid vehicles, rapid electrification of the automotive industry is likely to propel the growth of the automotive on-board power inverter market.

This pandemic circumstance has closed down numerous creation lines inferable from the exchange limitations and shut borders, making a deficiency in required parts and restricting the dispersion of provisions. Distinctive authorized measures including the end of workspaces and excusal of brief timeframe workers have made a downturn in the development pace of the car business.

Economic growth worldwide is pushing the automotive and transport industry to new heights. The new-age consumer is willfully spending on technology-laden luxury vehicles that include hybrid and electric vehicles. Consumers today expect a near-flying experience from their vehicles while driving at high speeds on freeways and highways. The interiors of automobiles are not compromised either. Consumers today look for vehicles to be replete with tech gadgets such as hi-tech navigation systems, IoT-enabled parking sensors, high speed Internet connectivity, automatic lights, windscreen wipers, and infotainment systems before they make an automobile purchase.

With the rise in a number of travelers enjoying long-distance travelling for pleasure, demand for various infotainment devices such as smartphone, laptops, small TV and others has increased. This has led manufacturers to install automotive on-board power inverters which can provide power to these infotainment devices. In addition, the inclusion of additional electronic devices drive-by-wire technologies, collision sensors, GPS, and other connected systems have increased power need of vehicles, in turn driving the adoption of automotive on-board power inverter by automotive manufacturers. The evident growth of OEMs in the automotive industry and their entry into the electric vehicle industry is likely to propel the growth of the automotive on-board power inverter market in future.

Request for TOC of this Report:https://www.factmr.com/connectus/sample?flag=T&rep_id=501

nverter is plugged in vehicle’s 12v supply of power. With the help of this device vehicle’s power supply is increased from 12v to 230v Alternating Current, thus allow the consumer to function the electronic and electrical equipment carefully at a distance from the standard mains power. There is an increasing requirement for inverters that can convert the power from Direct Current to Alternating Current. This requirement is mainly from various manufacturers electronic gadgets as these gadgets need more power. The automotive on-board power inverters are typically forced to function on the power of 120-volt Alternating Current. One of the important features of these inverters are they constantly change their polarity and transmit the current one way over the circuit. Afterwards they disappear and send the current the other way. The whole process happens very quickly i.e. at a speed of around 60 periods per second.  Cigarette lighter, 12v socket of accessories, fuse panel and direct to battery are most common configuration.

Automotive On-Board Power Inverter Market- Drivers

Automotive on-board power inverter market is expected to develop at moderate growth during the projected period. The main factors which is fuelling the evolution of market for automotive on-board power inverter is growing acceptance inside an automobile for handheld devices throughout the assessed period. According to U.S’s Traffic Safety Administration, the growing occurrence of handheld devices amongst drivers is driving the evolution of market for on-board power inverters. In addition to this, the growing industry of cab aggregators across the globe is expected to increase the application of smartphones and navigation system which is also a driving factor for the development of this market. Tremendous growth rate in the market of electric vehicle across the world is also creating a robust growth in the automotive on-board power inverter market. An unprecedented growth in sales of electric vehicle is also expected to create positive impact on automotive on-board power inverter market in the years to come.

Automotive On-Board Power Inverter Market- Regional outlook

Various regions such as Latin America, MEA, Asia Pacific, Europe and North America are covered to understand the automotive on-board power inverter market. It has been observed that North America has maximum revenue share in the market for automotive on-boards power inverter market in 2016. One the of the key reason for the dominance of North America is presence of  most of the automobiles companies such as General Motors and Ford Motor Company. In addition, estimated growth in the number of commercial and passenger vehicles in the North America region is expected to add to the development of automotive on-board inverter market throughout the assessed period.

Automotive On-Board Power Inverter Market- Key Vendors

Stanley, Lear, Bestek, Samlex America, Delta Electronics, Calsonic Kansei, and Magnum Dimensions are some of the top manufacturers functioning in the automotive on-board power inverter market. Though the market is characterized by the existence of a number of vendors, particularly in the aftermarket segment, the requirement for expertise in the area of vehicle’s electrical system as well as the requirement for fixing of the inverters have placed the Original Equipment Manufacturers as the preferred choice among the customers.

This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on

Share Your Requirements & Get Customized Reports:https://www.factmr.com/connectus/sample?flag=RC&rep_id=501

About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner. 

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates