Electric vehicles have gained significant attention owing to increasing environmental concerns such as carbon dioxide emission and depletion of fossil fuels. Therefore, the automotive industry is projected to shift from conventional IC engine vehicles to green vehicles such as electric or hybrid cars. The performance and mileage of electric vehicles is totally dependent on the installed battery. Moreover, range of electric vehicle is the most important parameter for estimation of the future growth of electric and hybrid vehicles demand. However, mileage of the vehicle is also affected with the higher usage of air-conditioning system. Therefore, high voltage PTC heaters are specially designed for electric and hybrid vehicles as no engine exhaust heat is available in the electric vehicles for heating during winters. Additionally, high-voltage PTC heaters have a high heating capability and are fast acting. Thus, high voltage PTC heaters function as the main heating element in the electric and hybrid automobiles. Hence, the market for high voltage PTC heaters is expected to attain double digit CAGR growth during the forecast period.
Global High Voltage PTC Heater Market: Dynamics: The positive outlook of electrically driven vehicles and hybrid technology will promote the high voltage PTC heaters across the globe. Demand for electric vehicles is the most crucial factor expected to drive the demand for high voltage PTC heaters in the future. Electric vehicles offer many advantages over conventional vehicles, such as zero emission, reduced noise pollution and fuel efficiency. Electric vehicle sales is expected to expand with a double digit CAGR over the next ten years. Furthermore, governments of several countries are taking initiatives to bring down pollution levels by creating rules covering the usage of conventional vehicles, taxes associated and several other regulations. Governments are also leveraging on the rise of hybrid and electric vehicles by offering attractive subsidies and incentives to the owners of such vehicles. This the sales of high voltage PTC heaters is anticipated to grow with the positive outlook of electric vehicles during the forecast period.
Global High Voltage PTC Heater Market: Segmentation: The global market for high voltage PTC heater can be segmented on the basis of type, vehicle type, sales channel, and region.; On the basis of type, global high voltage PTC heater market is segmented as: Air Based High Voltage PTC Heater, Water Based High Voltage PTC Heater; On the basis of vehicle type, global high voltage PTC heater market is segmented as: Electric Vehicle, Hybrid Electric Vehicle, Plug In-Hybrid; On the basis of sales channel, global high voltage PTC heater market is segmented as: Original Equipment Manufacturers (OEM), Aftermarket
Global High Voltage PTC Heater Market: Regional Outlook: The market for high voltage PTC heater is primarily dominated by Asia Pacific region. The growing sales of electric vehicles in the region can be attributed to higher adaptation of green vehicles in the developing countries of the region like China. North America and Western Europe are expected to have high growth potential owing to stringent norms and higher adaptation of newer and green technologies. Latin America and Middle East & Africa will be the slowest growing markets for electric vehicles due to very poor infrastructure and high availability of petroleum.
Global High Voltage PTC Heater Market: Market Participants: In the global market of high voltage PTC heaters, manufacturers are highly engaged in creating their brand image in the market in order to gain additional market share. This can be attributed to the positive outlook of electric and hybrid vehicles in the future, which is expected to create significant growth opportunities for the manufacturers of high voltage PTC heaters in the coming years. Moreover, names of some of the market participants engaged in the manufacturing and sales of high voltage PTC heaters are mentioned below: Eberspächer, Mitsubishi Heavy Industries, Ltd., BorgWarner Inc., LG Electronics, Shanghai Xinye Electronic Co., Ltd, dbk group, Pelonis Technologies, inc., MAHLE, Inc., Thermistors Unlimited, Inc.
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