Convergence of a wide range of technologies and industries within the automotive space has been paving lucrative avenues for stakeholders, which has led them in employing strategies to bank on dynamically evolving trends. Technology driven trends such as autonomous driving, connected vehicles, blockchain, and 3D printing have further been influencing developments in vehicles by improving their efficiency.
This has further spurred sales of automobiles across the globe since the recent past. According to International Organization of Motor Vehicle Manufacturers (OICA), total number of automotive vehicles produced worldwide surpass 97,300,000 units, while automotive sales, including cars and commercial vehicles, closes in on nearly 97,000,000 in 2017. Robust sales of vehicles have rubbed off on demand for imperative integral components, and automotive heater core is no exception. A new report of Fact.MR projects a modest 2.9% CAGR for the automotive heater core market over the period of forecast (2018-2028).
Automotive Heater Core Manufacturers Capitalizing on Heater Demand in Electric Vehicles
Major stakeholders in the automotive heater core market such as BorgWarner, and Eberspaecher are taking expansion and innovation efforts for capitalizing on the growing penetration of electric vehicles. BorgWarner, global leading company in clean & efficient technology solutions for electric, hybrid and combustion vehicles, has recently announced its plan on supplying advanced high-voltage positive temperature coefficient (PTC) heating technology to a well-known electric vehicle manufacturer.
This innovative automotive heating technology incorporates ceramic PTC components as its core elements, which contributes to reduced energy waste and noise-less operation of HVAC systems in vehicles. Advent of such technologies are likely to underpin automakers in designing and developing next-generation, efficient & clean vehicles.
New production plants apropos of high voltage heater manufacturing are being opened by leading manufacturers, in order to cater demand from hybrid and battery electric vehicles. Eberspaecher’s new electric heaters production plant in Tianjin is a prime example of such installments. The company seeks reinforcing its domestic footprint by this new production plant, while expanding its capacities to tap rapidly expanding Chinese passenger car industry, particularly for battery electric vehicles.
Integral components of electric heaters such as PTC ceramics for heater core will be manufactured in the plant. Such new installations with regard to automotive heating system will significantly rub off on development and sales of automotive heater core in the forthcoming years, thereby augmenting the market growth.
High Voltage PTC Heaters Integration in Electric Vehicles – Potential Opportunity
Regulations on carbon dioxide emissions, caused by fossil fuel depletion and global warming, have led the automotive industry to perceive a paradigm shift from conventional IC engines toward environment-friendly vehicles such as hybrid and electric cars. Electric cars have been deemed as optimal solution for eco-friendly vehicles in light of their higher energy efficiency than their petrol- & diesel-driven counterparts.
However, amount of waste heat generated by power engines in electric vehicles is insufficient for the purpose of heating, which entails the need for additional equipment as a main heating source. Post-considerable amount of research conducted on seeking primary heating equipment for electric cars, including combustion heater and heat pumps, high-voltage PTC heaters have been proved as most realistic solution capable of attaining required heating efficiency, reliability, and capacity.
More research efforts are being dedicated to improving heating performance and efficiency of high-voltage PTC heaters, which contain PTC ceramics as heater cores, such as building closed-loop system and designing prototypes with general characteristics. These researches are likely to significantly contribute to optimization of designs related to high-voltage PTC heaters, which in turn will fuel their penetration in electric vehicles in the upcoming years.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
As customers prefer spending on vehicles that accommodate air conditioner and effective engine cooling function, leading automotive manufacturers are focusing on incorporating heating, ventilation, and air-conditioning technology in the vehicles. In order to offer enhanced customer experience, major manufacturers are concentrating on equipping vehicles with dual-climate control features. With the incorporation of innovative and novel temperature control features, demand for automotive heater core will continue to intensify among the leading manufacturers across countries.
To remain in the forefront of the competitive market, major automotive manufacturers are focusing on incorporating novel features in the automotive heater core products to offer improved efficiency and performance. Prominent automotive manufacturers are concentrating on equipping a range of automotive heater core products with the temperature sensors to notify the end users in advance and offer improved electrical performance and durability.
A research report recently published by Fact.MR offers market intelligence on the automotive heater core market during the forecast period, 2018-2028. Extensive research information examines the automotive heater core market in depth, offering an accurate analysis of factors that are significantly influencing the overall market growth.
Automotive Heater Core Market: Taxonomy
Market intelligence compiled in the report provides qualitative & quantitative analysis on the automotive heater core market, providing an end-to-end view of the current market scenario and its growth prospects over the coming years. In-depth insights encapsulated in the report provides important statistics in terms of US$ Bn. Valuable perspectives derived from these accurate insights also highlight the macroeconomic and microeconomic factors that are impacting the purchase decisions of the end-user industry and customers, thereby reflecting on the overall growth of the market. Detailed insights offered in this report discusses major growth determinants, deterrents, lucrative opportunities, and threats that will influence the growth of leading players during the assessment period.
The research report provides insights and accurate analysis on growth of various segments highlighted in the automotive heater core market, which can help the investors and stakeholders in implementing important investment decisions. Segments identified in the global market comprise engine type, width, sales channel, vehicle type, material type, passenger, and inlet/outlet type.
Competitive Landscape Assessment
Valuable perspectives encapsulate in the research report offers imperative information related to the competitive landscape in the market that allows the major market players and new companies to develop informed business strategies. On the basis of these insights and accurate analysis offered in the report, prominent market players can identify the current market trends and redesign their marketing strategies to deliver effective outcomes.
The research report also offers SWOT analysis that discusses the threats, opportunities, weaknesses, and strengths of the leading companies identified in the automotive heater core market. In-depth insights apropos novel product developments, mergers & acquisitions among market players, and impact of the regulatory changes have also been accommodated in the competitive landscape chapter of the study to benefit the readers and investors.
A tested & proven research approach has been employed by the analysts at Fact.MR for providing authentic and accurate intelligence derived through the evaluation of key industry dynamics. Valuable perspectives encapsulated in the report provides a blend of primary & secondary research to offer the investors and readers with predictions and estimates pertaining to the automotive heater core market.
The secondary research conducted forms the initial research phase, wherein the analysts conduct extensive mining of information by referring to verified and latest data resources, which include independent studies, regulatory and government published material, and technical journals. Based on this extensive research, market predictions and estimates are derived.
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