EV Traction Inverter Market Grows 19% in 2Q25 as REEVs Fuel SiC Adoption Surge

According to TrendForce’s “Global EV Inverter Market Data” report, global installations of electric vehicle (EV) traction inverters reached 7.66 million units in the second quarter of 2025, marking a 19% year-on-year increase. The growth was primarily driven by strong sales of battery electric vehicles (BEVs), which accounted for 52% of installations, maintaining their lead since the first quarter of 2024 and surpassing the combined market share of hybrid vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and range-extended electric vehicles (REEVs).

Among Tier-1 suppliers, BYD held the largest market share at 17%, followed by Denso at 14%. Huawei increased its share from 3% to 4%, benefiting from robust BEV and REEV sales. Chinese companies, including BYD, Huawei, and Inovance, solidified their dominance, with Inovance securing a spot among the top five suppliers.

Silicon carbide (SiC) inverters achieved a 17% penetration rate in 2Q25, primarily in BEVs. However, adoption expanded to PHEVs and REEVs, which together represented nearly 19% of SiC inverter installations, all driven by Chinese automakers. Notably, 20% of REEV main-drive inverters utilized SiC technology, trailing only BEVs at 31%. The rising demand for REEVs has expanded the overall inverter market without displacing other powertrain ty...