Connect with us

Technology

Electric Vehicle Power Inverter Market to Expand by USD 9.1 Billio (2024-2028) Driven by BEV and PHEV Sales Growth, AI Impact on Trends- Technavio Report

Published

on

NEW YORK, Aug. 23, 2024 /PRNewswire/ — The global electric vehicle (EV) power inverter market  size is estimated to grow by USD 9.13 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.45%  during the forecast period.  Increasing sales of bevs and phevs is driving market growth, with a trend towards in-wheel micro-inverter system. However, thermal management issues limiting the performance of evs  poses a challenge. Key market players include Aegis Power Systems Inc., Aptiv Plc, BorgWarner Inc., Bosch Mobility Solutions, Continental AG, Danfoss AS, DENSO Corp., Fuji Electric Co. Ltd., Hitachi Ltd., Hyundai Mobis Co. Ltd., Infineon Technologies AG, LG Magna e Powertrain, MAHLE GmbH, Marelli Holdings Co. Ltd., Meidensha Corp., Metric Mind Engineering, Mitsubishi Electric Corp., Siemens AG, Toyota Industries Corp., and Valeo SA.

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Full hybrids, Pure EV, Plug-in hybrids, Commercial HEV, and Mild hybrids), Type (Passenger cars and Commercial vehicles), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

Aegis Power Systems Inc., Aptiv Plc, BorgWarner Inc., Bosch Mobility Solutions, Continental AG, Danfoss AS, DENSO Corp., Fuji Electric Co. Ltd., Hitachi Ltd., Hyundai Mobis Co. Ltd., Infineon Technologies AG, LG Magna e Powertrain, MAHLE GmbH, Marelli Holdings Co. Ltd., Meidensha Corp., Metric Mind Engineering, Mitsubishi Electric Corp., Siemens AG, Toyota Industries Corp., and Valeo SA

Key Market Trends Fueling Growth

The Electric Vehicle (EV) market is witnessing an emerging trend towards in-wheel motors, where motors are installed next to the wheel in parallel. This design offers several advantages, including increased space for battery packs and luggage due to the reduced size of the motor and inverter. However, the size of the inverter is crucial to maintaining this advantage. Protean Electric is leading this innovation with their inside-out motor and micro-inverter system. The micro-inverter system is installed within the motor itself, using the space between the external rotor and internal stator. Several micro-inverters are used to break down high current at high voltage into small currents at small voltages. This redundancy feature ensures that if one micro-inverter fails, the motor continues to function with reduced performance, minimizing the impact on the overall system. The demand for such micro-inverter systems in EV power inverters is expected to grow during the forecast period, providing reliability and efficiency to the EV market. 

The Electric Vehicle (EV) power inverter market is witnessing significant trends, with SiC inverters gaining popularity due to their efficiency and high power density. The electric breaking field is another trend, enabling regenerative braking and improving overall vehicle performance. Cooling coefficients are essential for managing the heat generated by these inverters, especially in used EVs. Hybrid Electric Vehicles (HEVs) and Battery Electric Vehicles (BEVs) require different inverter types, such as CV-specific electric motors for HEVs and traction inverters for BEVs. SiC inverters, like those from Hyundai and Vitesco, are increasingly used due to their wide-bandgap semiconductors, such as SiC and GaN. 800-volt inverters and DC battery voltages are becoming standard for EVs, enabling faster charging and higher efficiency. Multiphase AC current, gate drivers, and current and position measurements are crucial components of these inverters, requiring mathematical transformations for output signals. Power electronics, sustainable transportation solutions, and environmental initiatives are driving the demand for cleaner energy sources. Power inverter manufacturers are investing in charging infrastructure networks to support the growing number of emission-free vehicles. Soft switching inverters and wide-bandgap semiconductors are key technologies shaping the future of the EV power inverter market. 

Discover a Comprehensive 360° Market Analysis: Understand the Impact of AI. For detailed information- Request Sample!

Market Challenges

•         Electric Vehicle (EV) power inverters play a crucial role in converting DC battery power into AC power for the vehicle’s electrical systems. However, the increased use of electronic units in EVs generates more heat compared to conventional vehicles. Quick acceleration demands more power, leading to increased heat dissipation of around 250W per power device. To maintain the temperature below 125 degrees Celsius, cooling systems are necessary. Traditional methods, such as heat spreaders and thermal grease, create high thermal resistance, reducing system efficiency. Current systems use water-ethylene glycol coolant circulation, but it consumes more space, making the modules complicated, heavy, and expensive. New technologies like two-sided cooling systems and shared cooling architectures offer solutions, but they increase the cost of the power inverter system. Effective thermal management is essential to ensure the longevity and efficiency of EV power inverters.

•         The Electric Vehicle (EV) power inverter market is experiencing significant growth due to the increasing demand for sustainable transportation solutions and environmental initiatives. Power electronics, including SiC (silicon carbide) and GaN (gallium nitride) semiconductors, play a crucial role in the development of efficient EV power inverters. Traction inverters, such as soft switching inverters, are essential components of automotive traction systems, enabling emission-free vehicles to function. Power inverter manufacturers face challenges in meeting the demands of charging infrastructure networks and consumer behavior. The adoption of wide-bandgap semiconductors, like SiC and GaN, can help improve switching frequencies, reduce energy losses, and increase driving range. Automobile manufacturers, including General Motors, are investing in energy-efficient EV technology to meet emission standards and reduce greenhouse gases. However, challenges remain, such as semiconductor supply, operating costs, and charging infrastructure development. Consumer spending on green vehicles is on the rise, and technological development in battery technology and power inverters continues to advance. Companies like NXP Semiconductors and VEPCO Technologies are leading the way with innovative inverter prototypes, such as SIL-D-capable inverters. Mitsubishi and other automakers are focusing on weight reduction to improve EV performance and competitiveness with internal combustion engines.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This electric vehicle (ev) power inverter market report extensively covers market segmentation by

Application 1.1 Full hybrids1.2 Pure EV1.3 Plug-in hybrids1.4 Commercial HEV1.5 Mild hybridsType 2.1 Passenger cars2.2 Commercial vehiclesGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Full hybrids-  The Electric Vehicle (EV) power inverter market is experiencing significant growth due to increasing demand for cleaner and more sustainable transportation solutions. These inverters convert DC battery power into AC power, enabling EVs to operate on electricity. Major automakers and new entrants are investing heavily in this technology to meet stringent emission norms and customer preferences. The market is expected to expand at a robust CAGR through 2026. Key players include Tesla, Continental AG, and Magna International.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Electric Vehicle (EV) power inverter market is experiencing significant growth due to the increasing demand for sustainable transportation solutions and environmental initiatives. As more countries adopt stricter emission standards, the shift towards cleaner energy sources in the automotive industry is accelerating. Power electronics, specifically SiC (silicon carbide) and GaN (gallium nitride) power inverters, play a crucial role in the efficient conversion of DC power from the battery to AC power for the electric motor in EVs. The market is driven by the growing popularity of electric and hybrid vehicles among consumers, with automobile manufacturers such as General Motors investing heavily in energy efficiency and reducing greenhouse gas emissions. The development of charging infrastructure networks is also a key factor, as is the ongoing technological advancements in power inverters, leading to increased energy efficiency and lower operating costs. Consumer spending on green vehicles is expected to continue growing, making the EV power inverter market an attractive investment opportunity for manufacturers like NXP Semiconductors and VEPCO Technologies, who are developing SIL-D-capable inverters and innovative inverter prototypes to meet the demands of this rapidly evolving market.

Market Research Overview

The Electric Vehicle (EV) power inverter market is witnessing significant growth due to the increasing demand for sustainable transportation solutions and environmental initiatives. Power electronics, including SiC (silicon carbide) and GaN (gallium nitride) semiconductors, play a crucial role in the development of EV power inverters. These wide-bandgap semiconductors enable higher switching frequencies, leading to energy savings and improved driving range. Traction inverters, including soft switching inverters, are essential components of automotive traction systems, converting DC battery voltage to multiphase AC current for the electric motor. EV power inverters are integral to emission-free vehicles, including passenger cars, hybrid vehicles, and battery electric vehicles. Automobile manufacturers like General Motors, Hyundai, Mitsubishi, and others are investing in energy efficiency and reducing greenhouse gases by integrating these inverters into their vehicles. Charging infrastructure networks, including charging stations, are also crucial to the adoption of EVs, influencing consumer behavior and semiconductor supply. Operating costs, tailpipe emissions, and cooling coefficients are essential factors in the development of EV power inverters. Companies like NXP Semiconductors and VEPCO Technologies are leading the way with innovative inverter prototypes, including SIL-D-capable designs, to meet the demands of the EV market. Consumer spending on green vehicles and technological development continue to drive growth in the EV power inverter market. Weight reduction, electric braking fields, and SiC inverters are also areas of focus in the EV power inverter market, with companies like Hyundai and Vitesco investing in these technologies. The use of 800-volt inverters and DC battery voltage is becoming more common in the EV market, requiring gate drivers, AC voltage, current measurements, position measurement, and mathematical transformations for optimal performance.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationFull HybridsPure EVPlug-in HybridsCommercial HEVMild HybridsTypePassenger CarsCommercial VehiclesGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/electric-vehicle-power-inverter-market-to-expand-by-usd-9-1-billio-2024-2028-driven-by-bev-and-phev-sales-growth-ai-impact-on-trends–technavio-report-302229386.html

SOURCE Technavio

Continue Reading

Technology

Technology Drives the Future of Travel: JETOUR Continues to Expand Its “Travel+” Ecosystem

Published

on

By

WUHU, China, Oct. 24, 2026 /PRNewswire/ — Expectations for travel are evolving: vehicles are no longer simply a means of reaching a destination, but travel companions that bring people closer to nature, serving as a “mobile third space.”

JETOUR continues to advance its “Travel+” strategy, integrating technological innovation, product development, and ecosystem building into real travel scenarios. From October 20 to 23, the 2026 JETOUR Global Technology Experience Day, themed “Future Travel Starts Now,” takes place across Wuhu, Anhui and Moganshan, Zhejiang, featuring technology experiences, on-road driving, outdoor living, and conservation activities.

Technological Innovation: Expanding the Possibilities of Travel

Backed by the Group’s expertise in AI, intelligent driving, smart cabins, and AiMOGA Robotics, JETOUR turns cutting-edge technology into experiences users can genuinely feel. The XWD Fully Automatic Intelligent 4WD, with 7+X one-touch modes, tackles mountain roads, gravel, and water crossings, while the GAIA All-Terrain Intelligent Architecture adapts to diverse terrain and C-DM hybrid technology balances performance with efficiency. On October 21, models with these technologies take on mountain-road test drives at Moganshan.

A Diverse Product Lineup: Enriching the Travel Experience

The G700 combines premium comfort with hardcore off-road capability, while the T1 and T2 suit both urban driving and light off-road adventures. Roof tents, onboard refrigerators, and other ecosystem equipment turn the vehicle into an all-round companion. JETOUR also hosts a camping market and a Starry Night Forum, bringing product features into real travel settings.

Ecosystem: Extending the Value of Travel

Travel is about understanding cultures and protecting nature as well as exploration. Participants visit Xiazhu Lake in Zhejiang for a crested ibis conservation initiative. Globally, JETOUR supports cheetah conservation in Africa, turtle conservation in Malaysia, harpy eagle conservation in Panama, and protection of Pakistan’s national animal, the markhor.

JETOUR has also partnered with Chile’s Colo-Colo, FIBA, and the Malaysia Marathon, broadening engagement with local culture, sport, and communities — giving “Travel+” an ever richer meaning.

JETOUR now joins travelers worldwide across city, mountain, and wetland, exploring new possibilities through the deeper integration of technology and travel.

ABOUT JETOUR

Launched in 2018, JETOUR follows the “Travel+” strategy and has entered over 100 countries and regions, with 2,000+ sales and after-sales outlets. Its lineup includes the T Series for light off-road and the G Series for the premium luxury off-road market, covering urban commuting, family road trips, outdoor camping, and long-distance journeys.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/technology-drives-the-future-of-travel-jetour-continues-to-expand-its-travel-ecosystem-302918650.html

SOURCE JETOUR

Continue Reading

Technology

Technology Drives the Future of Travel: JETOUR Continues to Expand Its “Travel+” Ecosystem

Published

on

By

WUHU, China, Oct. 24, 2026 /PRNewswire/ — Expectations for travel are evolving: vehicles are no longer simply a means of reaching a destination, but travel companions that bring people closer to nature, serving as a “mobile third space.”

JETOUR continues to advance its “Travel+” strategy, integrating technological innovation, product development, and ecosystem building into real travel scenarios. From October 20 to 23, the 2026 JETOUR Global Technology Experience Day, themed “Future Travel Starts Now,” takes place across Wuhu, Anhui and Moganshan, Zhejiang, featuring technology experiences, on-road driving, outdoor living, and conservation activities.

Technological Innovation: Expanding the Possibilities of Travel

Backed by the Group’s expertise in AI, intelligent driving, smart cabins, and AiMOGA Robotics, JETOUR turns cutting-edge technology into experiences users can genuinely feel. The XWD Fully Automatic Intelligent 4WD, with 7+X one-touch modes, tackles mountain roads, gravel, and water crossings, while the GAIA All-Terrain Intelligent Architecture adapts to diverse terrain and C-DM hybrid technology balances performance with efficiency. On October 21, models with these technologies take on mountain-road test drives at Moganshan.

A Diverse Product Lineup: Enriching the Travel Experience

The G700 combines premium comfort with hardcore off-road capability, while the T1 and T2 suit both urban driving and light off-road adventures. Roof tents, onboard refrigerators, and other ecosystem equipment turn the vehicle into an all-round companion. JETOUR also hosts a camping market and a Starry Night Forum, bringing product features into real travel settings.

Ecosystem: Extending the Value of Travel

Travel is about understanding cultures and protecting nature as well as exploration. Participants visit Xiazhu Lake in Zhejiang for a crested ibis conservation initiative. Globally, JETOUR supports cheetah conservation in Africa, turtle conservation in Malaysia, harpy eagle conservation in Panama, and protection of Pakistan’s national animal, the markhor.

JETOUR has also partnered with Chile’s Colo-Colo, FIBA, and the Malaysia Marathon, broadening engagement with local culture, sport, and communities — giving “Travel+” an ever richer meaning.

JETOUR now joins travelers worldwide across city, mountain, and wetland, exploring new possibilities through the deeper integration of technology and travel.

ABOUT JETOUR

Launched in 2018, JETOUR follows the “Travel+” strategy and has entered over 100 countries and regions, with 2,000+ sales and after-sales outlets. Its lineup includes the T Series for light off-road and the G Series for the premium luxury off-road market, covering urban commuting, family road trips, outdoor camping, and long-distance journeys.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/technology-drives-the-future-of-travel-jetour-continues-to-expand-its-travel-ecosystem-302918650.html

SOURCE JETOUR

Continue Reading

Technology

Best AI Tools for Marketing Content (2026): CapCut Recognized for Faster AI-Powered Video and Image Creation by Better Business Advice

Published

on

By

NEW YORK, Oct. 24, 2026 /PRNewswire/ — Better Business Advice has recognized CapCut in its 2026 coverage of the best AI tools for marketing content, highlighting its collection of AI-powered features for creating and editing videos, images, audio, and other campaign assets. The recognition reflects growing interest in tools that help transform creative concepts into usable marketing materials while reducing the manual work involved in production.

Best AI Marketing Tools

Seedance 2.0 – an AI video generation model that creates videos from text prompts or imagesSeedream – an AI image generation model that creates high-quality visuals from text prompts

AI-powered content creation is changing how businesses develop digital marketing campaigns. From promotional videos and product imagery to social media graphics and branded audio, organizations face growing demand for creative assets across multiple digital channels. Tools that simplify production and support faster experimentation are becoming an increasingly important part of modern marketing workflows.

CapCut offers a range of AI-assisted capabilities covering several stages of content creation. These include text-based video generation, AI image generation, background removal, image expansion, music generation, and photo animation. Together, the tools provide options for producing marketing assets for social media, digital advertising, product promotions, and other online campaigns.

AI Video Generation Supports Promotional Campaigns

Video is an important format for communicating product information, presenting services, and building audience engagement. However, producing video content regularly can require significant planning, editing, and creative resources.

CapCut’s Seedance 2.0 AI video generator supports prompt-based video creation. Users can describe a creative concept and generate video content that serves as a starting point for further development.

The capability can support promotional videos, product showcases, educational content, and social media campaigns. It also gives creators a way to explore different visual approaches during the planning stage before refining the selected direction.

For businesses producing content across multiple channels, AI-assisted video generation can help reduce the effort required to develop initial concepts. Generated material can then be reviewed and edited to align with campaign objectives, brand guidelines, and platform requirements.

Image Generation Helps Develop Marketing Concepts

Visual assets influence how products, services, and campaigns are presented to audiences. Developing suitable imagery often involves several rounds of brainstorming and creative testing before a final direction is selected.

CapCut’s Seedream AI image generator enables users to create images from text prompts. The tool can support concept drafts, campaign planning, and experimentation with different visual styles.

For example, a seasonal marketing campaign may require several approaches to backgrounds, compositions, and visual themes. AI-generated drafts can help illustrate those options before resources are committed to final production.

CapCut’s GPT Image 2 provides another option for generating images from natural language instructions. The feature can support the development of promotional graphics, campaign imagery, and other visual assets.

These tools help shorten the early stages of creative development by making it easier to turn written ideas into visual references. Human review remains important to ensure the resulting assets accurately represent the product and meet the campaign’s requirements.

Image Editing Simplifies Asset Preparation

AI image generation is only one part of preparing content for publication. Existing photographs and graphics often need adjustments before they can be used across marketing channels.

CapCut’s AI background removal tool helps separate subjects from their original backgrounds. This can be useful when preparing product images, promotional graphics, and other assets that require a different visual setting.

The AI Image Extender addresses the challenge of adapting images to different layouts. By generating content beyond an image’s original boundaries, the tool can help users adjust compositions for different formats without relying entirely on cropping or stretching.

These capabilities can support the preparation of visuals for social media posts, website banners, digital advertisements, and product promotions. They also provide options for repurposing existing creative assets instead of producing entirely new images for every placement.

AI Audio and Photo Animation Expand Creative Options

Marketing content often combines visuals, movement, and sound to communicate a message. Producing these elements separately can add complexity to the creative process.

CapCut’s SeedMusic AI audio generator supports AI-assisted music creation based on creative prompts. Generated music can be used as a starting point for videos, promotional campaigns, and other multimedia projects, subject to appropriate review and usage requirements.

The platform’s Photo-to-3D tool offers another way to adapt still images into more dynamic visual content. This capability can help transform existing photography into animated presentations for product showcases, social media, and digital promotions.

By supporting audio creation and image animation alongside video and image tools, CapCut provides additional options for developing varied marketing materials.

A Connected Workflow for Marketing Content

CapCut’s collection of AI-powered features supports several stages of campaign production within one creative environment. A project could begin with concept images generated through Seedream, followed by visual development with GPT Image 2. Background removal and image expansion can then help prepare assets for different placements.

Selected visuals can be incorporated into video projects using Seedance 2.0, while SeedMusic offers an option for developing accompanying audio. Photo-to-3D can provide another format for repurposing existing images.

Not every campaign requires all these capabilities. Their practical value depends on the content format, production requirements, and intended audience. Reviewing generated assets for accuracy, visual consistency, and suitability remains essential before publication.

Better Business Advice’s recognition of CapCut reflects the growing role of AI-assisted production in digital marketing. As businesses continue to develop content for multiple channels, tools that support video creation, image generation, editing, and multimedia production can help simplify creative workflows while leaving room for human direction and quality control.

The full article can be read at the Better Business Advice website.

About CapCut

CapCut is an AI-powered photo and video editing platform designed to make high-quality video creation accessible across devices. The platform supports creators, businesses, and everyday users with tools for video editing, AI video generation, captions, templates, audio, and visual editing. CapCut is available across mobile, web, desktop, and iPad experiences, helping users create, edit, and prepare video content for social media, marketing, education, and personal projects.

About Better Business Advice: Better Business Advice covers the news and strategies driving modern business success. The information provided by Better Business Advice does not, and is not intended to, constitute legal advice; instead, all information, content, and materials are for general informational purposes only. As an affiliate, Better Business Advice may earn commissions from services mentioned in the links provided.

View original content:https://www.prnewswire.com/news-releases/best-ai-tools-for-marketing-content-2026-capcut-recognized-for-faster-ai-powered-video-and-image-creation-by-better-business-advice-302918030.html

SOURCE BetterBusinessAdvice.com

Continue Reading

Trending