The global Vehicle Inverters Market is projected to grow at a CAGR of 17.57% during the forecast period, to reach USD 7.7 billion by 2025 from an estimated USD 2.5 billion in 2018. The automobile industry has witnessed a continuous increase in the integration of various electronic devices in the vehicles. The rising demand for reducing carbon emissions has led to huge innovations and R&D efforts from OEMs and automotive suppliers for the development of components (battery and inverters) and compliance with government regulations. Moreover, the overall weight of the vehicles has increased due to the integration of various electronic features in electric vehicles. The awareness among the consumers, OEMs, and various suppliers along with a push from the government will boost the demand for vehicle inverters in the market.

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Secondary Research

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, automobile OEMs, Electric Vehicle Association of Asia Pacific (EVAAP), country-level electric vehicle automotive associations and trade organizations, and the Department of Transportation (DOT)], automotive magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, technical articles, and databases (for example, Marklines and Factiva) have been used to identify and collect information useful for an extensive commercial study of the global vehicle inverters market.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the vehicle inverters market scenario through secondary research. Several primary interviews have been conducted with market experts from the demand- and supply-side OEMs (in terms of component supply, country-level government associations, and trade associations) and component manufacturers across 3 major regions, namely, North America, Europe, and Asia Pacific. Approximately 40% and 60% of primary interviews have been conducted from the demand- and supply-side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand- and supply-sides.

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