This report covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies
PUNE, INDIA, November 15, 2019 /EINPresswire.com/ — Owing to the ever-growing trend of buying self-driving vehicles and car sharing, the automobile industry has evolved quite much in the last few years. Since the last decade, this market has experienced various changes in terms of connectivity and safety, implementation of emanation regulations, and engine downsizing. Along with this, new technologies, which require electric power to serve their purposes, such as collision-avoidance systems and infotainment systems, are also being implemented in modern vehicles. Thus, the importance and popularity of the automobile on-board inverters are also growing day by day.
An automobile on-board inverter is a type of device that is used to provide power a vehicle’s main 12V power supply. This inverter works by converting the 12V of power to 230V AC mains power. This enables a person to use his or her electronic gadget by staying at a safe distance from the primary power supply. As the automobile on-board inverters can convert DC to AC, they can also help the users to operate those electronic devices that require a high amount of power to run.
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The global automobile on-board inverter market is expected to grow at a significant rate during the aforementioned forecast period. Among the factors, which are responsible for this growth, the ever-increasing usage of the handheld devices inside a car is considered to be the most important one. The uprising of the rental cab services is yet another key factor that will have a positive effect on the growth of the global automobile on-board inverter market during this period.
The following manufacturers are covered:
Stanley Black & Decker
The global market of the automobile on-board inverters is generally segmented into three parts, product type, application, and region. Regarding product type, the market is further segmented into 20W, 40W, 80W, and others. Amongst these, the 40W segment is currently dominating the automobile on-board inverter market and will continue to do the same in the future. However, the 80W segment is expected to experience the fastest growth during the forecast period. Based on its application, the global on-board inverter market is segregated into two parts, passenger car, and commercial vehicle. Among these two, the passenger vehicle segment is more likely to experience the highest growth in the upcoming years.
Regionally, the automobile on-board inverter market is segmented into Asia, Europe, North America, South America, and Middle East & Africa. Amongst them, the North American region is currently holding the maximum share and is expected to do the same in the future. Due to the heavy usage of the on-board inverters in countries like the UK, France, Spain, etc, the European region holds the second position in this market. However, the Asian continent is estimated to experience the fastest market growth because of the sudden emergence of the automobile on-board inverters in the South Asian region.
As most of the people, nowadays, are using high-power consuming devices in their car, the usage of 80W automobile on-board inverters has been increased heavily. Thus, the key players in this market are now using newer technologies to improve the efficiency of their inverters to capture the market.
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Source: EIN Presswire