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The automotive on-board power inverter market size is forecast to increase by USD 162.2 million, at a CAGR of 4.28% between 2023 and 2028. The market is experiencing significant growth due to several key factors. One of the primary drivers is the increasing adoption of programmable logic controllers (PLCs) in industries, which necessitates the use of power inverters for converting DC power from batteries to AC power for operating these controllers. Another trend influencing the market is the emergence of digitalization and Industry 4.0, which requires advanced power conversion solutions for integrating advanced technologies such as sensors, actuators, and communication systems in vehicles. Moreover, consumer choice for large vehicles such as SUVs and pickup trucks. However, cybersecurity concerns related to industrial relays and power inverters pose a significant challenge to market growth.
Market Forecast 2024-2028
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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