The global electric vehicle (EV) inverter market continues to experience growth, with a significant increase in installations in the second quarter of 2025. According to TrendForce’s latest report, titled “Global EV Inverter Market Data,” global installations of EV traction inverters reached 7.66 million units in 2Q25, marking a 19% year-over-year increase. This growth was primarily driven by strong sales of battery electric vehicles (BEVs), which accounted for 52% of installations, surpassing the combined share of hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and range-extended electric vehicles (REEVs).
Among Tier-1 suppliers in the market, BYD and Denso emerged as leaders with market shares of 17% and 14%, respectively. Huawei also saw an increase in its market share, rising from 3% to 4% due to strong sales of BEVs and REEVs. Chinese players are increasingly dominating the market, with companies like BYD, Huawei, and Inovance securing positions among the top five suppliers.
The adoption of silicon carbide (SiC) inverters also saw significant growth, reaching a penetration rate of 17% in 2Q25. While SiC inverters were initially concentrated in BEVs, their adoption is now expanding to PHEVs and REEVs, with Chinese automakers leading the way. PHEVs and REEVs accounted for nearly 19% of SiC inverter installations, with 20% of REEV main-drive inverters now using SiC, second only to BEVs at 31%. The rising demand for REEVs is not displacing other powertrain types but instead expanding the overall inverter market, making REEVs a critical catalyst for SiC adoption.
As REEVs continue to mature, they are expected to further diversify the SiC inverter market, reducing overreliance on BEVs. China remains the largest market for PHEV, REEV, and BEV inverters, prompting companies like Infineon to increase production in China to capitalize on the growth opportunities. The robust EV ecosystem in China is reshaping the balance of influence across the supply chain, posing challenges for non-Chinese automakers seeking to compete in the market.
It is important to note that EVs in this context include a range of vehicle types such as HEVs, BEVs, PHEVs, REEVs, and fuel cell vehicles (FCVs). The data and insights provided by TrendForce’s report offer valuable information for stakeholders in the EV industry as they navigate the evolving market landscape.
