- Allied Market Research offers a global market study of power electronics systems for electric vehicles.
- Electronic systems include inverters, power converters and on-board chargers used in automotive, rail, shipping and aerospace applications.
- The global market for power electronic systems for electric vehicles was valued at $2.59 billion in 2018.
- This market is expected to grow by 35.5% between 2019 and 2026, reaching $30 billion by 2026.
- The growth of the power electronics market for electric vehicles is driven by several factors, such as high demand for devices powered by energy-efficient batteries and strict emissions regulations aimed at reducing vehicle weight and emissions.
