High Voltage Electric Heater Market Insights
The automotive industry continues to explore a variety of propulsion technologies, electric vehicles (EVs), and hybrid electric vehicles (HEVs), which are becoming more popular than ever. Key players in the high voltage electric heater market are manufacturing cost-effective products, with innovations in their existing products. Furthermore, technological advancements in the electrical industry will facilitate numerous growth opportunities for high voltage electric heaters during the forecast period.
The most important factor in EV success has been the ability to forge strong public-private partnerships among many diverse stakeholders. Public-private engagement partnership is to support the achievements of governments’ commitment in plug-in vehicles. With diverse public and private partners to grow the industry by strengthening network connections among industry firms, and raising visibility globally, new public-private partnerships have been designed to accelerate the growth of the electric vehicle industry, which also expands the high voltage electric heater market size.
High Voltage Electric Heater Market Insights by Type
The air heaters segment is poised to experience ascending demand as a result of advancements in the automobile industry. Automobile manufacturers are focusing on combined heating, cooling, and ventilating air condition control systems. These advancements by automobile companies are set to open up numerous growth opportunities for air heaters in the years to come. Coolant heaters are expected to create an absolute $ opportunity of US$ 4.4 Bn over 2020-2030.
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High Voltage Electric Heater Market Insights by Vehicle
Demand for high voltage electric heaters, particularly for passenger cars and commercial vehicles, continues to remain bullish. High voltage electric heater sales in OEMs are likely to remain robust, underpinned by vehicle proliferation, although OEMs are deleveraging their balance sheet on account of surplus capacity.
These OEMs are exploring inorganic growth avenues in developing economies of Asia to support expansion and diversify their clientele and product portfolio. The passenger cars segment is set to account for more than 90% of the global high voltage electric heater market share by the end of the forecast period. Technological advancements in the automobile and aerospace industry will drive the growth of the high voltage electric heater market over the coming years.
High Voltage Electric Heater Market Insights by Maximum Heating Capacity
The 4-7 kW capacity segment is set to remain the most lucrative segment, with increasing traction in the automotive industry and advancing demand with respect to increasing advantages provided by these heaters. The 4-7 kW segment is poised to experience a growth rate of 24% during 2020-2030. The above 7 kW segment is expected to create an absolute $ opportunity of US$ 5.5 Bn by 2030, and account for 70% revenue share of the market by 2030-end.
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Regional Outlook of High Voltage Electric Heater Market
China is seen as the most lucrative region in the global high voltage electric heater market, backed by high growth in the automobile industry as well as increasing demand for electrical vehicles in the region. Regional trends and regulatory policies play an important role in the development of high voltage electric heaters and the automobile market.
The U.S. high voltage electric heater market is expected to continue its impressive growth, on the back of increasing environmental concerns associated with the emission of harmful gases from vehicles, leading to mounting demand for electrical vehicles. The U.S. market is poised to expand at a CAGR of 23%, creating an absolute $ opportunity of US$ 1.5 Bn over the forecast period.
High Voltage Electric Heater Manufacturers: Key Players Focusing on Product Portfolio Management and Capacity Expansion
Key players in the high voltage electric heater market are increasing their production capacities in order to meet mounting demand from OEMs and commercial customers. With capacity expansion, companies are looking forward for collaborations with global suppliers to ensure their global presence. Adoption of the push strategy has helped key players increase the flow of their products in the market and reach targeted customer segments.
Furthermore, customized products with respect to industry order-specific and application-specific have also helped key players develop products according to client requirements, and also commercialize them in the market. For instance, in January 2019, BorgWarner Inc. expanded its new production unit in Kakkalur, India, to meet the growing demand for engine timing systems in the Southeast Asian market. This expanded facility allows class-leading development, modeling, research, and manufacturing.
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The Analyst’s Viewpoint
“The high voltage electric heater market is set to gain traction as an aftereffect of the advancing automobile industry and mounting demand for electric vehicles across the world.”
COVID-19 Impact on High Voltage Electric Heater Market
The spread of COVID-19 has crippled the entire world. Nearly all countries have imposed lockdowns and strict social distancing measures. This has disrupted the production plants of key end-user companies across the globe. The consumer electronics industry and automotive industry are important application areas for high voltage electric heaters. Decline in production has limited the market scope for high voltage electric heaters. The pandemic has generated massive disruptions in the demand-supply equation across multiple industries, causing a global economic meltdown.
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High Voltage Electric Heater Market: Scope of the Report
Fact.MR has published an exclusive forecast report on the high voltage electric heater market for 2020 and 2030. The foremost objective of this report on the high voltage electric heater market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the high voltage electric heater market. Also, the study on the high voltage electric heater market addresses key dynamics that are expected to diversify the sales and future prominence of high voltage electric heaters.
The report on the high voltage electric heater market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the high voltage electric heater market, elaborating on key segments. The report also outlines visionary insights on the dynamics of the high voltage electric heater market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors for high voltage electric heaters.
Supply chain analysis and pricing analysis of the high voltage electric heater market along with the difference between high voltage electric heaters used as per application have also been included in the report to help readers clearly understand the product framework map of the high voltage electric heater market.
High Voltage Electric Heater Market: Segmentation
Fact.MR has studied the high voltage electric heater market with detailed segmentation on the basis of type, vehicle technology, vehicle, maximum heating capacity, and region.
- Air Heaters
- Coolant Heaters
- Passenger Cars
Maximum Heating Capacity
- Up to 4 kW
- 4-7 kW
- Above 7 kW
- South Korea
- Rest of the World
High Voltage Electric Heater Market – Report Scope
A recent study by Fact.MR on the high voltage electric heater market offers 10-year forecast for 2020-2030. The study analyzes crucial trends that are currently determining the growth of the high voltage electric heater market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of high voltage electric heaters. The study also provides dynamics that are expected to influence the future status of the high voltage electric heater market over the forecast period.
A detailed assessment of value chain analysis, business executions, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the high voltage electric heater market enhances the reliability of this comprehensive research study.
High Voltage Electric Heater Market: Report Summary
The study offers a comprehensive analysis on diverse features including demand, product developments, policy & regulatory landscape, revenue generation, and sales in the high voltage electric heater market across the globe.
A comprehensive estimate on the high voltage electric heater market has also been considered through an optimistic scenario as well as a conservative scenario regarding the sales of high voltage electric heaters during the forecast period. Price point comparison by region with global average price is also considered in the study.
High Voltage Electric Heater Market: Analysis on Market Size Evaluation
The study provides each market segment in terms of value (US$ Mn) analysis in the high voltage electric heater market.
Market estimates at global and regional levels for high voltage electric heaters are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent high voltage electric heater market segments, along with market attractiveness evaluation has been incorporated in the report. Another key feature of the high voltage electric heater market report is the analysis of all key segments in terms of absolute dollar. Absolute dollar opportunity is critical in assessing the level of opportunity that a manufacturer can look to achieve, as well as identify potential resources from sales and delivery perspectives in the high voltage electric heater market.
High Voltage Electric Heater Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which help deliver projections on regional markets. This chapter include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the high voltage electric heater market during the forecast period.
Country-specific valuations on the demand for high voltage electric heaters have been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of prominence in regions and countries. Regional markets Y-o-Y growth estimates have also incorporated in the report.
Detail breakup in terms of value for emerging countries has also been included in the report.
High Voltage Electric Heater Market: In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers in the high voltage electric heater market, along with their detailed profiles. Essential and up-to-date data related to market players who are principally engaged in the production of high voltage electric heaters has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.
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