Los Angeles, CA -- (SBWIRE) -- 09/26/2019 -- The global automotive heater core market is anticipated to foresee remarkable growth in the forecast period. The reason being increasing vehicle production, which has resulted in rise in demand for automotive heater core. Automotive heater core is a radiator-like device that serves the primary purpose of heating the cabin of a vehicle. It is one of the essential part of the car's cooling system.
It has been observed that over the past few years, sales of automobiles has increased tremendously across the globe. This has called for the need for crucial automotive components, automotive heater core being one of them. The market has witnessed a number of technological advancements. One of them is a heat pump cabin heater, which employs thermal energy to heat the cabin. It is known to use less power as compared to the conventional models. Nissan LEAF is the first mass-produced vehicle to make use of a heat-pump cabin heater.
Technological Advancements to Drive the Manufacturers to Introduce Novel Products
Emerging technology trends such as autonomous driving, connected vehicles, and blockchain have been enhancing the vehicles' overall efficiency. In order to keep pace with the technological advancements, the key players are taking up various strategies such as product development and business expansion.
It has been observed that the demand for fuel-efficient vehicles is increasing at a rapid rate. In addition, strict regulations on emission by the regulatory bodies are having a positive impact on the market growth. Increase in the purchasing power of consumers and rapid urbanization are estimated to have a positive impact on the automotive heater core market in the near future. Customers' preference to spend on vehicles that accommodate air conditioner and efficient engine cooling function is paving way for the market players.
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Addition of Innovative Features to Emerge as a Key Strategy among Players
Key companies operating in the market are Sanden Holdings Corporation, Valeo SA, Spectra Premium, Mahle GmbH, Calsonic Kansei Corporation, Nissen A/S, Delphi Automotive, Brassworks, Denso Corporation, and ACDelco Corporation. The market participants are coming up with products that trim down the level of energy wastage in heating systems of automobiles and produce less noise.
Also, companies are stressing on the incorporation of innovative features and technology in the automotive heater core in order to provide enhanced efficiency and performance. Temperature sensors are also being inserted in these products by the manufacturers, which help in sending the notifications to the end users in prior. Such developments are attractive customers from across the globe, thereby drying the demand for the automotive heater core.
? Passenger Vehicles
? Commercial Vehicles
? Electric Vehicles
By Sales Channel
As per the analysts, the aluminum material segment is likely to foresee tremendous growth in the near future due to growing demand for lightweight automotive components. As far as the vehicle is concerned, passenger vehicles are anticipated to witness increased demand owing to rising production, rapid urbanization, and surge in the disposable income of the consumers. According to the researchers, the aftermarket sale channel may lead the market in the coming years as the players involved in it are designing the heater core with materials of reasonable costs, thereby driving the product demand among the consumers.
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