Inverter Market to Nearly Double by 2023 Thanks to EV Sales Growth

FEB 1 2014 BY STAFF 2

Inverter

Inverter

According to a forward-looking prediction by Research and Markets, demand for inverters and electric power conversion will take off in the automotive sector:

Diagram Showing i-MiEV Inverter

Diagram Showing i-MiEV Inverter

“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.”

As Research and Markets forecasts:

“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.”

It’s by following these component sectors that we can predict growth of the EV industry as a whole.  So, sometimes it’s wise to look within the complete vehicle to see what the future may hold.

Source: Research and Markets

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2 Comments on "Inverter Market to Nearly Double by 2023 Thanks to EV Sales Growth"

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Speaking of inverters, here’s the 2,000 watt max surge inverter you can use for your Volt to power your home, in 24 hours you’ll use about 2-3 gallons of gas only….

MrEnergyCzar

Unfortunately, this undoubtably voids the warranty on the Volt. How big exactly is the DC/DC converter in the Volt, and if its located in the engine compartment, how big is it amperage wise, and what size wire do they run back to the trunk battery?

Not to nitpick but I didn’t see any fusing.