High Voltage Electric Heater Market: Booming Electric Vehicle Market Driving Demand

Posted on 2019-07-04 by Mark Hub in Industrial // 0 Comments

Rockville, USA, 2019-Jul-04 — /EPR Network/ —The report focuses on the all the important factors influencing the high voltage electric heaters market growth. The report also offers valuable insights on the market along with the historical data and forecast. The study also includes market dynamics such as latest trends, opportunities, driving factors, and challenges in the high voltage electric heaters market. The report on the high voltage electric heaters market also offers an overview of the market including a brief description on the current scenario in the high voltage electric heaters market, along with the region-wise and segment-wise analysis.

The high voltage electric heaters market is likely to witness a robust growth in the coming years, with the market expected to surpass US$ 600 million by the end of 2018, as per the latest report by Fact.MR. The significant growth in the high voltage electric heaters market is influenced by the increasing demand for electric vehicles worldwide. Regulations on CO2 emission is also resulting in the shift from conventional vehicle to electric and hybrid vehicles.

With the growing demand for electric vehicles across countries, high voltage electric heaters and high voltage air heaters are being used on a large scale in these vehicles as efficient air heating solution. The electric vehicle manufacturers are looking for more efficient high voltage air heaters to improve the performance of the electric vehicles.

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The sales of electric cars across the globe is growing. According to the report by International Energy Agency (IEA), sales of electric vehicles worldwide exceeded 1 million units in 2017, China accounted for more than half of the global sales of electric cars. Meanwhile, the US is the second largest electric cars market.

High Voltage PTC Heaters Gaining Traction in Electric Vehicles

The automobile industry is rapidly replacing internal combustion engine vehicles with eco-friendly electric vehicles. To boost electric vehicle use and reduce battery power consumption, manufacturers in high voltage electric heaters market are developing highly efficient heating system for electric vehicles.

Top Players in the High Voltage Electric Heaters Market Account for Over 80% of Revenue Share

The high voltage electric heaters market remain concentrated among the leading players accounting for more than 80% of revenue share. Product innovation, providing safety features and easy installation are some of the key strategies adopted by major players in the high voltage electric heaters market.

Companies are also investing in new technologies and opening new production centers in various regional markets to meet the growing demand for technically advanced components for electric and hybrid vehicles. Acquisitions and partnerships are in the market is on a rise in high voltage electric heaters market with companies aiming to strengthen their position in the global market.

The high voltage electric heaters market is segmented on the basis of product type, vehicle technology, vehicle type, and maximum heating performance. The key segments in the report on high voltage electric heaters market are further bifurcated into sub-segments to provide better understanding of the market.

Based on the product type the high voltage electric heater market is segmented into High Voltage Battery Heaters, High Voltage Coolant Heaters, and High Voltage Air Heaters. On the basis of vehicle technology the market is segmented into HEV, PHEV, and BEV

By vehicle type, the high voltage electric heaters market is segmented into HCV, LCV, and Passenger Cars. On the basis of maximum heating performance, the market is segmented into Up to 4 kW, 4-7 kW, and Above 7 kW.

Competitive Landscape

The report on the high voltage electric heaters market provide insights and detailed profiles of all the leading market players. The study also focuses business strategies being adopted by both established and emerging players in the high voltage electric heaters market. The report also provides details on new developments, key financials, product portfolio, business strategies, and mergers and acquisitions in the high voltage electric heaters market. Companies in the market are focusing on worldwide expansion through partnerships, opening new facilities, and mergers and acquisitions. For instance, Mitsubishi is planning to build a parts industry and supply chain in Vietnam. The company is also planning to develop a second plant in Vietnam by 2020 with the capacity of around 30,000 to 50,000 vehicles per year. BorgWarner opened new production plant in China to support growing demand from hybrid, electric vehicles and combustion. The plant will produce drive motors, and EV and HEV products.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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