Automotive-PTC-Heater Market Forecast and CAGR
According to latest research by Fact.MR, automotive-PTC-heater market is set to witness steady growth during 2021-2031. Demand for automotive-PTC-heater will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Mounting developments in electric vehicles technology along with increasing safety norms in automotive industry the product is likely to gain traction over assessment period and shall account cumulative share of more than 25% in North American market.
What is Driving Demand for Automotive-PTC-Heater?
Heating, Ventilating and Air conditioning (HVAC) plays an important role in automotive industry. The passengers thermal comfort and electric vehicle battery efficiency is affected by the implementation of better HVAC system. Conventional automobiles used to take advantage of excess engine heat for heating up the cabin. Modern vehicles have more efficient engines which dissipate less heat. Thus the heating problems in modern vehicles has been resolved by Positive Temperature Coefficient (PTC) technology.
PTC are kind of self-regulating heaters which do not require any external diagnostics controls. Traditional fixed resistance heaters used to have coils and wires to produce required heat. Problems such as overheating, hot spots and several safety concerns due to single sensor for entire heater which used to be in conventional heaters have been eliminated by PTC heaters, this has led to its fast adoption in the industry. Their capability to draw high power at initial stage to quickly heat up the cabin and reach optimum temperature, later increasing resistance to draw less power for less heating has been proved groundbreaking technology in the industry.
In addition, PTC heaters are designed to operate between temperature ranges of -40 degree Celsius to 70 degree Celsius. Time and energy efficiency, abrasion resistant, cost effectiveness along with easy manufacturing for large scale production is adding to its dynamic capabilities. Booming electric vehicles are likely to be most beneficiary from this technology. It aids in maintaining battery temperature across wide temperature range operation. Exponential growth in electric vehicle industry is likely to take automotive PTC heater market northwards.
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Geographical Outlook of Global Automotive-PTC-Heater Market
The automotive PTC heater market covers six major regions: North America, Latin America, Europe, East Asia, South East Asia & Oceania, and MEA. Due to early technology development and adoption in North America and Europe, the regions are expected to be in front. The regions share rich history for automotive industry along with higher per capita income has enabled higher automotive sales in the region which is likely to be profitable for the product in future. Tesla, BMW, Mercedes, Audi and VOLVO are few of the biggest names in electric car market and technology development belong to this region thus the region holds very optimistic growth sign in near future.
Asia is emerging as next big market for passenger vehicles along with countries like China, Taiwan, and South Korea which are leading in chip manufacturing technology and export is likely to add momentum to sales. Indian government is emphasizing on electric vehicles sales in country which will drive PTC sales in the region.
Better economic condition of GCC countries, Turkey, South Africa etc. is expected to have better demand over other countries of MEA region. Improving economic condition of Africa is presumed to add marginal growth for sales.
COVID-19 Impact Outlook for Automotive-PTC-Heater Market
After COVID-19 Pandemic countries across globe reacted and actions were taken to prevent the spread of virus. Manufacturing sector was at halt, industries were hit hard and automotive industry was one among them.
To combat the pandemic, governments all over the world have put a halt to automobile manufacturing. As a result, the automotive industry suffered significant losses during this period. Along with this, the population's disposable income fell, lowering demand for automobiles even further. In addition, printed circuit board manufacturing experienced plunge in terms of sales. For instance, according to a study US printed circuit assembly market experienced ~17% shrinkage in growth. Manufacturing fluctuations were noticed from China, Taiwan and South Korea. Though the lockdown lifting is inevitable and thus, the automotive PCT heater business is expected grain traction aftermath of lockdown.
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Advantages of Automotive-PTC-Heater Over Traditional Heater Analysis
Over the time automotive PTC heater have proved their safety and efficiency in the industry. Benefits which this technology carries are:
They are safer because they do not hold coils, resistive cables, carbon fiber, heaters, or foils. As a result, the traps and failure mode are reduced to a greater degree.
Since PTC heaters can be as thin as 0.001 inch, they take up very little space. This increases their cost-effectiveness and lightweight advantage over traditional heaters.
They are immune to mechanical abuse such as folding, piercing and creasing. In addition they are resistant to chemical and water corrosion results in increased prolonged life.
Conventional heaters manufacturing includes process such as acid baths which is not required in PTC heater manufacturing minimizes environmental effect.
Various other benefits such as uniform heating, minimum time to reach optimum temperature, design flexibility, elimination of electronic diagnostics for operation etc. is propelling its faster adoption in automotive industry.
Who are the Key Manufacturers and Suppliers of Automotive-PTC-Heater?
Some of the leading manufacturers and suppliers of automotive-PTC-heater include
- KLC Corporation
- Pelonis Technologies inc
- Mitsubishi Heavy Industries Ltd
- BorgWarner Inc
- Dongguan Zhengyang Electronic Mechanical LTD
- Ancheng Dingchuang Electric Heating Machinery Co. Ltd.
Automotive-PTC-heater business is assumed to be consolidated over study region. The manufacturers in the market are emphasizing on research & development for providing better HVAC solution to customers. For instance, BorgWarner has developed industry first dual-zone functionality high voltage PTC cabin heater for hybrid and battery electric vehicle.
An Adaptive Approach to Modern-day Research Needs
Automotive-PTC-Heater Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Type
- PTC water heater
- PTC Air heaters
By Structure Type
By Vehicle Type
- IC engine
- Hybrid Vehicles
- Full Hybrid
- Mild Hybrid
- Plug-In Hybrid
By Sales Channel
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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