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Middle East & Africa Traction Inverter Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Propulsion type (BEV, HEV, PHEV, and Others), Voltage type (Up to 200V, 200 to 900V, and 900v and above), Technology type (IGBT, MOSFET, and Others), and Vehicle type (Passenger Cars, Commercial Vehicles, and Others)
- Report Code : BMIRE00027588
- Pages : 133
The traction inverter market in MEA is expected to grow from US$ 1,085.07 million in 2022 to US$ 2,195.12 million by 2028. It is estimated to grow at a CAGR of 12.5% from 2022 to 2028.
Increasing adoption of advanced technologies
Government initiatives play as a key driving force for the electric car markets. The idea that electric vehicles are the future of transportation has gained support in part due to announcements, goals, and the introduction of new models. Concurrently, the enormous success of electric vehicles was hampered by limited supplies of component parts and rising prices for bulk materials, elevating supply-side issues to the top agenda for both government and business. Many governments, as well as a number of automakers, set goals to gradually end the sale of internal combustion engine vehicles during the period of 2020 and 2021. For many governments and the auto industry, electric vehicles have emerged as the preferred road transportation technology.
Market Overview
The Traction Inverter Market in MEA comprises countries such as South Africa, Saudi Arabia, UAE, and Rest of MEA. The automotive sector in these countries is growing at a steady pace. The region’s rising demand for commercial vehicles might be attributed to increased development and infrastructure operations in many countries. In the coming time zone, the Middle East Traction Market is expected to increase. Despite an increase in sales in the automobile sector, Turnkey manufacturing has been hampered by a shortage of chips. However, in the coming years, semiconductor production will increase due to the consistent rise in vehicles sales. Additionally, the region depends on nearby production facilities to provide parts for the defense industry. The National Electronics and Cryptology Research Institute, for instance, is striving to manufacture components at its semiconductor Technologies Research Laboratory. The growth of the automobile market will be considerably aided by this.
MEA Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
MEA Traction Inverter Market Segmentation
The MEA traction inverter market is segmented into propulsion type, voltage type, technology type, vehicle type, and country. Based on propulsion type, the market is segmented into BEV, HEV, PHEV, and others. The BEV segment registered the largest market share in 2022.
Based on voltage type, the MEA traction inverter market is segmented 200V, 200 to 900V, 900V and above. The 200 to 900V segment registered the largest market share in 2022. Based on technology type, the MEA traction inverter market is segmented into IGBT, MOSFET and others. The MOSFET segment registered the largest market share in 2022. Based on vehicle type, the MEA traction inverter market is segmented into passenger cars, commercial vehicles, and others. The commercial vehicles segment registered the largest market share in 2022. Based on country, the market is segmented into South Africa, Saudi Arabia, UAE, and Rest of MEA. UAE dominated the market share in 2022.
BorgWarner Inc.; Continental AG; Curtiss-Wright Industrial Group; Dana TM4; Delphi Technologies Plc; Hitachi, Ltd.; Mitsubishi Electric Corporation; Siemens AG; Toshiba Corporation; and Voith GmbH & Co. KGaA are the leading companies operating in the traction inverter market in the region.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 MEA Traction Inverter Market– By Propulsion type
1.3.2 MEA Traction Inverter Market– By Voltage type
1.3.3 MEA Traction Inverter Market– By Technology type
1.3.4 MEA Traction Inverter Market– By Vehicle type
1.3.5 MEA Traction Inverter Market– By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Traction Inverter Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA Traction Inverter Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand of Electric and Hybrid Electric Vehicles
5.1.2 High demand for lithium-ion battery
5.2 Market Restraints
5.2.1 Shortage of semiconductors and chips
5.3 Market Opportunities
5.3.1 Government and market players initiatives to booster the market growth
5.4 Future Trends
5.4.1 Adoption of Advanced Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Traction Inverter Market– MEA Market Analysis
6.1 MEA Traction Inverter Market Overview
6.2 MEA Traction Inverter Market Forecast and Analysis
7. MEA Traction Inverter Market Revenue and Forecast to 2028 – Propulsion type
7.1 Overview
7.2 MEA Traction Inverter Market, By Propulsion type (2021 And 2028)
7.3 BEV
7.3.1 Overview
7.3.2 BEV: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
7.4 HEV
7.4.1 Overview
7.4.2 HEV: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
7.5 PHEV
7.5.1 Overview
7.5.2 PHEV: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
8. MEA Traction Inverter Market Revenue and Forecast to 2028 – Voltage type
8.1 Overview
8.2 MEA Traction Inverter Market, By Voltage type (2021 And 2028)
8.3 Up to 200V
8.3.1 Overview
8.3.2 Up to 200V: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
8.4 to 900V
8.4.1 Overview
8.4.2 to 900V: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
8.5V and above
8.5.1 Overview
8.5.2V and above: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
9. MEA Traction Inverter Market Revenue and Forecast to 2028 – Technology type
9.1 Overview
9.2 MEA Traction Inverter Market, By Technology type (2021 And 2028)
9.3 IGBT
9.3.1 Overview
9.3.2 IGBT: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
9.4 MOSFET
9.4.1 Overview
9.4.2 MOSFET: Traction Inverter Market Revenue and Forecast To 2028 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)
10. MEA Traction Inverter Market – By Vehicle Type
10.1 Overview
10.2 MEA Traction Inverter Market, by Vehicle Type (2021 and 2028)
10.3 Passenger Cars
10.3.1 Overview
10.3.2 Passenger Cars: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Commercial Vehicles
10.4.1 Overview
10.4.2 Commercial Vehicles: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Others
10.5.1 Overview
10.5.2 Others: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)
11. MEA Traction Inverter Market– Country Analysis
11.1 Overview
11.1.1 Middle East and Africa: Traction Inverter, by Key Country
11.1.1.1 South Africa: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 South Africa: Traction Inverter Market, By Propulsion type
11.1.1.1.2 South Africa: Traction Inverter Market, By Voltage type
11.1.1.1.3 South Africa: Traction Inverter Market, By Technology type
11.1.1.1.4 South Africa: Traction Inverter Market, By Vehicle type
11.1.1.2 Saudi Arabia: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Saudi Arabia: Traction Inverter Market, By Propulsion type
11.1.1.2.2 Saudi Arabia: Traction Inverter Market, By Voltage type
11.1.1.2.3 Saudi Arabia: Traction Inverter Market, By Technology type
11.1.1.2.4 Saudi Arabia: Traction Inverter Market, By Vehicle type
11.1.1.3 UAE: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 UAE: Traction Inverter Market, By Propulsion type
11.1.1.3.2 UAE: Traction Inverter Market, By Voltage type
11.1.1.3.3 UAE: Traction Inverter Market, By Technology type
11.1.1.3.4 UAE: Traction Inverter Market, By Vehicle type
11.1.1.4 Rest of MEA: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Rest of MEA: Traction Inverter Market, By Propulsion type
11.1.1.4.2 Rest of MEA: Traction Inverter Market, By Voltage type
11.1.1.4.3 Rest of MEA: Traction Inverter Market, By Technology type
11.1.1.4.4 Rest of MEA: Traction Inverter Market, By Vehicle type
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profile
13.1 BorgWarner Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Continental AG
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Delphi Technologies Plc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Hitachi, Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Mitsubishi Electric Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Siemens AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Toshiba Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Voith GmbH & Co. KGaA
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Curtiss-Wright Industrial Group
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Dana TM4
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
Table 1. MEA Traction Inverter Market, Revenue and Forecast, 2019–2028 (US$ Million)
Table 2. South Africa: Traction Inverter Market, By Propulsion type – Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: Traction Inverter Market, By Voltage type – Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Traction Inverter Market, By Technology type– Revenue and Forecast to 2028 (US$ Million)
Table 5. South Africa: Traction Inverter Market, By Vehicle type– Revenue and Forecast to 2028 (US$ Million)
Table 6. Saudi Arabia: Traction Inverter Market, By Propulsion type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Saudi Arabia: Traction Inverter Market, By Voltage type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Saudi Arabia: Traction Inverter Market, By Technology type– Revenue and Forecast to 2028 (US$ Million)
Table 9. Saudi Arabia: Traction Inverter Market, By Vehicle type– Revenue and Forecast to 2028 (US$ Million)
Table 10. UAE: Traction Inverter Market, By Propulsion type – Revenue and Forecast to 2028 (US$ Million)
Table 11. UAE: Traction Inverter Market, By Voltage type – Revenue and Forecast to 2028 (US$ Million)
Table 12. UAE: Traction Inverter Market, By Technology type– Revenue and Forecast to 2028 (US$ Million)
Table 13. UAE: Traction Inverter Market, By Vehicle type– Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of MEA: Traction Inverter Market, By Propulsion type – Revenue and Forecast to 2028 (US$ Million)
Table 15. Rest of MEA: Traction Inverter Market, By Voltage type – Revenue and Forecast to 2028 (US$ Million)
Table 16. Rest of MEA: Traction Inverter Market, By Technology type– Revenue and Forecast to 2028 (US$ Million)
Table 17. Rest of MEA: Traction Inverter Market, By Vehicle type– Revenue and Forecast to 2028 (US$ Million)
Table 18. List of Abbreviation
Figure 1. MEA Traction Inverter Market Segmentation
Figure 2. MEA Traction Inverter Market Segmentation – Country
Figure 3. MEA Traction Inverter Market Overview
Figure 4. MEA Traction Inverter Market, By Voltage type
Figure 5. MEA Traction Inverter Market, By Country
Figure 6. MEA: PEST Analysis
Figure 7. Traction Inverter Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. MEA Traction Inverter Market: Impact Analysis of Drivers and Restraints
Figure 10. MEA Traction Inverter Market, Forecast and Analysis (US$ Million)
Figure 11. MEA Traction Inverter Market, By Propulsion type (2021 and 2028)
Figure 12. MEA BEV: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. MEA HEV: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. MEA PHEV: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. MEA Others: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. MEA Traction Inverter Market, By Voltage type (2021 and 2028)
Figure 17. MEA Up to 200V: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. MEA 200 to 900V: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. MEA 900V and above: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. MEA Traction Inverter Market, By Technology type (2021 and 2028)
Figure 21. MEA IGBT: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. MEA MOSFET: Traction Inverter Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. MEA Others: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. MEA Traction Inverter Market Revenue Share, by Vehicle Type (2021 and 2028)
Figure 25. MEA Passenger Cars: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. MEA Commercial Vehicles: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. MEA Others: Traction Inverter Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. MEA Traction Inverter Market, by Key Country – Revenue (2021) (US$ Million)
Figure 29. Middle East and Africa: Traction Inverter Revenue Share, By Key Country (2021 and 2028)
Figure 30. South Africa: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)
Figure 31. Saudi Arabia: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)
Figure 32. UAE: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)
Figure 33. Rest of MEA: Traction Inverter Market– Revenue and Forecast to 2028 (US$ Million)
● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the MEA traction inverter market.
● Highlights key business priorities in order to assist companies to realign their business strategies
● The key findings and recommendations highlight crucial progressive industry trends in the MEA traction inverter market, thereby allowing players across the value chain to develop effective long-term strategies
● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
● Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the traction inverter market, as well as those hindering it
● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
● BorgWarner Inc.
● Continental AG
● Curtiss-Wright Industrial Group
● Dana TM4
● Delphi Technologies Plc
● Hitachi, Ltd.
● Mitsubishi Electric Corporation
● Siemens AG
● Toshiba Corporation
● Voith GmbH & Co. KGaA
At 12.5% CAGR, the MEA Traction Inverter Market is speculated to be worth US$ 2,195.12 million by 2028, says The Insight Partners
According to The Insight Partners’ research, the MEA traction inverter market was valued at US$ 1,085.07 million in 2022 and is expected to reach US$ 2,195.12 million by 2028, registering a CAGR of 12.5% from 2022 to 2028. Government and market players to booster the market growth and increasing adoption of advanced technologies to booster the market growth are the critical factors attributed to the market expansion.
The 3-phase voltage source inverter topology dominates the traction inverter market for BEVs and HEVs due to its high efficiency, low cost, and straightforward control requirements. The direct current link capacitors and power devices are the two essential parts of the inverter drive; the former makes up half of the drive cost and is by far the most expensive part. Since the debut of the first modern EV, the EV1, in 1996, the Si-IGBT has been the preferred power supply used by the automotive industry. It is still favored due to its affordability, respectable efficiency, and short circuit capacity. Recent developments in WBG devices, especially SiC and GaN devices, offer considerable increases in power density and efficiency for traction inverter drives.
On the contrary, shortage of semiconductors and chips hurdles the growth of MEA traction inverter market.
Based on propulsion type, the MEA traction inverter market is segmented into BEV, HEV, PHEV, and others. The BEV segment held 64.5% market share in 2022, amassing US$ 699.53 million. It is projected to garner US$ 1,701.47 million by 2028 to expand at 16.0% CAGR during 2022–2028. Based on voltage type, the MEA traction inverter market is segmented 200V, 200 to 900V, 900V and above. The 200 to 900V segment held 65.5% market share in 2022, amassing US$ 710.23 million. It is projected to garner US$ 1,673.18 million by 2028 to expand at 15.4% CAGR during 2022–2028. Based on technology type, the MEA traction inverter market is segmented into IGBT, MOSFET and others. The MOSFET segment held 70.5% market share in 2022, amassing US$ 764.71 million. It is projected to garner US$ 1,694.08 million by 2028 to expand at 14.2% CAGR during 2022–2028. Based on vehicle type, the MEA traction inverter market is segmented into passenger cars, commercial vehicles, and others. The commercial vehicles segment held 64.2% market share in 2022, amassing US$ 697.12 million. It is projected to garner US$ 1,617.30 million by 2028 to expand at 15.1% CAGR during 2022–2028. Based on country, the MEA traction inverter market is segmented into South Africa, Saudi Arabia, UAE, and Rest of MEA. Our regional analysis states that UAE captured 36.0% market share in 2022. It was assessed at US$ 390.62 million in 2022 and is likely to hit US$ 845.12 million by 2028, exhibiting a CAGR of 13.7% during the forecast period.
Key players dominating the MEA traction inverter market are BorgWarner Inc.; Continental AG; Curtiss-Wright Industrial Group; Dana TM4; Delphi Technologies Plc; Hitachi, Ltd.; Mitsubishi Electric Corporation; Siemens AG; Toshiba Corporation; and Voith GmbH & Co. KGaA among others.
In 2022, Morgan State University and Siemen has entered into partnership for implementing HVAC, security, and other energy efficient systems.
In 2021, BorgWarner has acquired 89.08% of AKASOL’s outstanding shares following the completion of the tender offer. The acquisition further strengthens BorgWarner’s commercial vehicle and industrial electrification capabilities, which positions the company to capitalize on what it believes to be a fast-growing battery pack market.
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