Global Automotive On-board Power Inverter Market 2018-2022
About Automotive On-board Power Inverter
A power inverter is an electronic device that convert battery's DC power supply into alternating current(AC) mains power. This allows to power electrical and other electronic equipment away from normal main power.Technavio’s analysts forecast the global automotive on-board power inverter market to grow at a CAGR of 5.42% during the period 2018-2022.Covered in this report The report covers the present scenario and the growth prospects of the global automotive on-board power inverter market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive On-board Power Inverter Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive on-board power inverter market: BESTEK, Calsonic Kansei, Lear Corporation, Sensata Technologies, Stanley Black & Decker, and Samlex America.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing popularity of electric vehicles. Most government bodies worldwide are promoting the adoption of electric vehicles. Electric vehicles significantly reduce air pollution and complement the initiative of various governments to safeguard environment.”
According to the report, one driver in the market is need to stay connected in long-distance journeys. The adoption of passenger cars and LCVs is increasing for long distance travelling among several individuals such as fleet drivers, cab drivers, people undertaking business trips, and truck drivers across the world.
Further, the report states that one challenge in the market is improper use of power inverter can deplete battery life. Power inverters obtain power from the vehicle battery in the form of DC and convert it into AC to power electronic devices. Hence, electronic appliances operate at finite amount of power as per their battery capacity. As a result, users should make efficient use of the power inverter.
Sumitomo Electric Industries
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