(PRWEB UK) 8 January 2013
Reportbuyer.com reveals that the electric vehicle inverter market will hit $18billion by 2023. According to the report Inverters for Electric Vehicles 2013-2023 the traction inverter technology is rapidly evolving, aided by new materials and innovations that provide step changes in performance necessary to meet future demands.
The market for electric vehicle inverters, both hybrid and pure electric, will grow to an estimated $18billion by 2023. The demand for inverters and electric power conversions is already well established in the automation and industrial control industries which are also growing at considerable pace, therefore the addition of a significant complimentary emerging market will create new sectors for existing inverter and power electronic component suppliers as well as create opportunities for new players, particularly those with specialist electric vehicle knowledge and those able to develop added value through highly integrated electric powertrain systems.
Read the report: Inverters for Electric Vehicles 2013-2023