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Nowadays, it is so important to take care about the environment and nature where we live and this attitude finds its way into business and market trends. Various industries prefer creating and using ecology-friendly solutions. One of them is electric vehicles that do not consume gasoline, don’t have fuel engines, don’t give off greenhouse gases, and use much lesser oil and lubricants.
Electric vehicles find their application in various areas: automotive, marine, railways, and even airborne solutions.
E-bikes, e-scooters, e-cars, and so on are all powered by electricity. Shortly, electromobility gains more popularity and that is why the market for electric vehicle power electronics keeps growing. According to statistics, it increased up to $2.59 billion in 2018 and is predicted to be valued at $30.01 billion by 2026.
The power electronics electric vehicles market in 2018 and 2026
The market of power electronics for electric vehicles has got high financial competency and power electronics solutions are the right area to build your business around. Considering the the growth of popularity in building custom electric vehicles, we can make a conclusion that there is a good demand for custom power electronics solutions.
Electric vehicle power net includes such major parts as inverters, converters, chargers, battery management systems. These parts are the key market segments used for converting and controlling electric power in a vehicle.
Let’s investigate what major power electronics elements an electric vehicle system contains and what functions they perform.
- Inverters perform DC to AC convertion in an electric vehicle motor and control the speed of the motor rotation.
- Converters. These parts are used for increasing or decreasing voltage (AC or DC). In electric vehicle, step-up and step down converters are combined in one device.A converter can increase voltage from the battery and, subsequently, allows us to use less expensive battery.
- Chargers. The speed of an electric vehicle depends on the quality of an electric vehicle chargers. An electric vehicle can use a charging station, a charging cable, and an on-board charger. There are AC and DC charging stations. The right choice of a charging station for a vehicle depends on the capacity of its on-board charger. An on-board charger is a unit integrated into the electric vehicle system. It is used not only for charging, but also for managing the current and voltage.
- Battery management systems (BMS). This aspect is of great importance ofr an electri vehicle as it is charging system is based on batteries. A high-quality BMS provides safety for an electric vehile and the users and can prolong battery life. Modern battery management systems can inform a user about temperature, current, voltage levels at which a battery is working. Also a BMS can stop a charging process at suitable moment preventing a battery from overcharging.
The scheme of an electric vehicle power electronics system
There is a great surge in demand for efficient and high-quality elements of power electronics and charging systems in electric vehicle industry. So, if you choose to create top-quality parts of power electronics system for electric vehicles, you will be able to develop lucrative business in this area.