The high voltage electric heater market is poised to expand eight times its current size over the assessment period, 2020-2030. Growing demand for EVs and rising environmental concerns with respect to the gases emission will expedite market growth.
Dubai, UAE -- (SBWIRE) -- 11/30/2020 -- The high voltage electric heater market is poised to expand eight times its current size over the assessment period, 2020-2030. Growing demand for EVs and rising environmental concerns with respect to the gases emission will expedite market growth.
"Progressions in the automotive sector and rising concerns for gas emissions from vehicles are poised to advance the demand for high voltage electric heaters, particularly air heaters," says the Fact.MR report.
High Voltage Electric Heater Market - Key Takeaways
By type, the air heater category is slated to witness mounting demand due to progressions in the automobile sector.
Based on vehicle technology, the BEV segment will record a stellar CAGR of 25% throughout the assessment period, to be estimated at US$ 3.5 Billion towards 2030-end.
Based on the vehicle, the demand for high voltage electric heater for passenger cars will remain dominant by holding over 90% of the market share.
By maximum heat capacity, the 4-7 kW capacity segment will record a CAGR of 24% throughout 2020-2030.
China will remain dominant in the global market owing to the high growth in the automobile industry.
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High Voltage Electric Heater Market - Driving Factors
Technological progressions in the electrical sector will facilitate several development prospects for the market
Escalating demand for customized products according to application perquisites by several OEMs will boost the market demand in the approaching years.
New public-private partnerships are designed to hasten the development of the electric vehicle sector, which also multiplies the market size.
Progressions in the automotive sector and the development of several concepts such as electric cars, connected cars, and smart cars will complement market growth.
High Voltage Electric Heater Market - Constraints
Lack of trained professionals may affect the sales of the high voltage electric heaters.
Low efficiency and high cost of installation, are factors curtailing market growth.
Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 outbreak has inflicted stringent social distancing measures and lockdowns, disrupting the production process across the globe. The automotive industry and the consumer electronics industry are significant application areas for high voltage electric heaters. A decrease in production has narrowed the market possibility for high voltage electric heaters.
Explore the High Voltage Electric Heater market comprising of 150 figures and 72 data tables, along with the table of contents. You can find a detailed market segmentation on @ https://www.factmr.com/report/1027/high-voltage-electric-heater-market
Competition Landscape
Major players operating in the high voltage electric heater market are Eberspächer Gruppe GmbH & Co. KG, BorgWarner Inc., Mitsubishi Heavy Industries Ltd, Worry Corporation, Mahle GmbH, On Semiconductor, LG Electronics Inc., DBK David + Baader GmbH, and Webasto SE. Players are implementing aggressive expansion strategies for making their mark in regional as well as the global market. They are furthermore focusing on capacity expansion and product innovation to satiate the growing demand for associated application use.
More on the Report
The FACT.MR's market research report provides in-depth insights into the high voltage electric heater market. The market is scrutinized based on type (air heaters and coolant heaters), vehicle technology (BEV, PHEV, and HEV), vehicle (passenger cars, LCVs, and HCVs), and maximum heating capacity (up to 4kW, 4-7 kW, and above 7kW), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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