Traction Inverter Market Size Analysis and Top Companies
The global traction inverter market size is estimated to hit around USD 85.45 billion by 2033, increasing from USD 17.93 billion in 2023 with a CAGR of 16.51% from 2023 to 2033. The top companies operating in the traction inverter are Siemens AG, Infineon Technologies AG, Continental AG, Robert Bosch GmbH, Delphi Technologies, Hitachi Automotive Systems, Mitsubishi Electric Corporation, Toshiba Corporation, Fuji Electric Co., Ltd., ABB Ltd, Dana Incorporated, Lear Corporation, Texas Instruments Incorporated, STMicroelectronics, ON Semiconductor, and Others.
Market Report Coverage
| Report Coverage |
Details |
| Growth Rate from 2024 to 2033 |
CAGR of 16.51% |
| Market Size in 2023 |
USD 17.93 Billion |
| Market Size by 2034 |
USD 85.45 Billion |
| Largest Market |
North America |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
Propulsion, Voltage, Technology, Vehicle, and Region |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Traction Inverter Key Players
- Siemens AG
- Infineon Technologies AG
- Continental AG
- Robert Bosch GmbH
- Delphi Technologies
- Hitachi Automotive Systems
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Fuji Electric Co., Ltd.
- ABB Ltd
- Dana Incorporated
- Lear Corporation
- Texas Instruments Incorporated
- STMicroelectronics
- ON Semiconductor
Recent Developments
- In July 2022, Curtiss-Wright expanded its industrial division, introducing a new lineup of products within the traction inverter sector. This expansion notably includes traction inverters designed for both hybrid and pure-electric on-highway and off-highway commercial vehicles. The focus on efficiency and innovation underscores Curtiss-Wright's commitment to advancing electric mobility solutions. By diversifying its product portfolio in the traction inverter market, Curtiss-Wright aims to cater to the growing demand for advanced electric propulsion systems in the commercial vehicle sector, aligning with the global trend toward sustainable and eco-friendly transportation.
- In June 2022, STMicroelectronics (ST) and Semikron joined forces to create a Silicon Carbide (SiC)-powered semiconductor, specifically designed for electric vehicle traction drives. This collaborative effort signifies a strategic move to propel advancements in automotive traction inverter technologies. Silicon Carbide, known for its superior performance in power electronics, is expected to enhance the efficiency and capabilities of traction inverters in electric vehicles. By leveraging the expertise of both STMicroelectronics and Semikron, this collaboration aims to contribute to the evolution of cutting-edge solutions, supporting the automotive industry's shift towards more efficient and sustainable electric propulsion systems.
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