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An inverter is a device that is plugged into a vehicle's 12v power supply. This device converts the 12v power supply to 230v AC mains power thereby enabling the user to operate the electrical and electronic equipment safely at a distance from the standard mains power. Several electronic gadgets require more power and hence there is growing need for inverters which convert DC to AC. The automotive on-board power inverter s are contrived to run on the 120-volt AC power. These inverters change polarity continuously, transmitting current one way over the circuit, and then disappearing and sending the current the other way. This entire process takes place very quickly, typically, at a speed of about 60 periods per second. Most common configurations include fuse panel, cigarette lighter, direct to battery, and the 12v accessory socket.

The global automotive on-board power inverter market is likely to grow at a moderate CAGR during the forecast period 2017-2025. The rising adoption of handheld devices inside an automobile is one of the key factors that will drive the growth of the global on-board power inverter market during the forecast period.  As per the Traffic Safety Administration (U.S.), the rising prevalence of handheld devices among drivers have increased the growth prospects of on-board power inverters. Additionally, the rising cab aggregators industry across the world is likely to increases the application of navigation systems and smartphones amongst drivers. This factor is likely to add to the growth of the global automotive on-board power inverter market in the coming years. Another key driver of the market is the double digit growth rate of electric vehicle market in the world. The expected growth in sales of electric vehicle is likely to boost the automotive on-board power inverter market in the future.

The global automotive on-board power inverter market can be segmented by vehicle type, power range and region. In terms of type of vehicle type, the global market can be segregated into passenger vehicles and commercial vehicles. The passenger vehicle segment includes sedans, hatchbacks, multi-purpose vehicles (MPVs), and sports utility vehicles (SUVs). Owing to their higher demand and production than LCVs, the passenger vehicle segment is likely to be the leading segment over the course of the forecast period. On the basis of power range the global automotive on-board power inverter market can be segregated into less than 150 W, and over 150 W. The less than 150 W segment is likely to occupy a major share of the market. This is due to the fact that use of electronic devices including consoles, laptops, charging mobile phones, and DVD players requires low power range. The high range power inverters are primarily used in the commercial vehicles.

In terms of geography, the global automotive on-board power inverter market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the maximum share of the market in 2016. The presence of major automobile companies including Ford Motor Company and General Motors is one of the primary reasons for the dominance of this region.  Moreover, the projected rise in the number of passenger as well as commercial vehicles in the region is likely to add to the growth of the automotive on-board power inverter market during the forecast period.

Although the market is categorized by the presence of a number of players, especially in the aftermarket segment, the prerequisite for expertise in the area of vehicle's electrical system as well as the specification for installation of the inverters have placed the OEMs as the favored choice among the customers. Some of the major players operating in the global automotive on-board power inverter market are Lear, Calsonic Kansei, Delta Electronics, Magnum Dimensions, Bestek, Samlex America, and Stanley.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Onboard Power Inverter Market