Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Traction Inverter Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Traction Inverter Market Grow Between 2024 and 2025?
The Traction Inverter Global Market has experienced swift expansion in the past few years. The market size is predicted to increase from $17.32 billion in 2024 to $20.3 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 17.2%.
How Much Will the Traction Inverter Market Be Worth in 2029?
The Traction Inverter Global Market is projected to reach a size of $35.99 billion in 2029, growing at a compound annual growth rate (CAGR) of 15.4%.
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Which Traction Inverter Market Drivers Are Linked to Revenue Growth?
The key drivers in the traction inverter market are:
• Continued growth of electric vehicles
• Increasing energy density of batteries
• Expansion of charging infrastructure
• Government regulations and standards promoting the use of such technology
Which Segments Are Expected to Grow in the Traction Inverter Market?
The traction inverter market covered in this report is segmented –
1) By Propulsion: Battery Electric Vehicle (BEV), Hybrid Electric Vehicles (HEV), Plug-In Hybrid Electric Vehicles (PHEV), Other Propulsion
2) By Technology: Insulated-Gate Bipolar Transistor (IGBT), Metal-Oxide Semiconductor Field-Effect Transistor (MOSFET), Other Technologies
3) By Vehicle: Passenger Cars, Commercial Vehicles
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What Are The Key Trends Impacting Growth In The Global Traction Inverter Market?
The key trends in the traction inverter market are:
• The trend of collaborations and partnerships within the automotive industry.
• The integration of vehicle-to-grid (V2G) technology is a trend shaping the future.
• Technological advancements are continuing to influence the market.
• The adoption of silicon carbide (SiC) and gallium nitride (GaN), smart inverters, and digitalization is a growing trend in the market.
Who Are the Key Competitors in the Global Traction Inverter Market?
Major players in the traction inverter market are:
• Robert Bosch GmbH
• Hitachi Ltd.
• Siemens AG
• General Electric Company
• Continental AG
• Mitsubishi Electric Corporation
• Schneider Electric SE
• ABB Ltd.
• Toshiba Corporation
• Lear Corporation
• Texas Instruments Incorporated
• Parker Hannifin Corporation
• STMicroelectronics N.V.
• BorgWarner Inc.
• Infineon Technologies AG
• Emerson Electric Co.
• Renesas Electronics Corporation
• Dana Incorporated
• Semiconductor Components Industries LLC - ON Semiconductor
• Rockwell Automation Inc.
• Fuji Electric Co. Ltd.
• Voith GmbH & Co. KGaA
• Yaskawa Electric Corporation
• Curtiss Aeroplane and Motor Company
• Delphi Technologies PLC
Where Is the Traction Inverter Market Growing Fastest Between 2025 and 2029?
North America was the largest region in the traction inverter market in 2024
