The High Voltage Electric Heater Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s High Voltage Electric Heater Global Market Report 2024, The high voltage electric heater market size has grown exponentially in recent years. It will grow from $2.12 billion in 2023 to $2.6 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. The growth in the historic period can be attributed to rising demand for energy-efficient solutions, industrialization and urbanization, infrastructure development, electrification of transport, renewable energy integration.
The high voltage electric heater market size is expected to see exponential growth in the next few years. It will grow to $5.73 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to global shift towards electric vehicles, digitalization and IoT integration, electrification of agriculture, focus on sustainability, rise in consumer electronics. Major trends in the forecast period include decentralized energy solutions, carbon-neutral heating solutions, electric heater as a service (EHaaS), energy harvesting technologies, 3D printing in manufacturing.
The increasing demand for electric vehicles is driving the growth of the high voltage electric heater market. Electric vehicles, also known as battery electric vehicles (BEVs), are powered by an electric motor rather than an internal combustion engine. The increasing fuel prices and pollution has led to increased demand for electric vehicles. The electric vehicle employs high voltage electric heaters to produce heat from DC electric power with minimal losses. For instance, according to a study released by the European Automobile Manufacturers Association in April 2022, 79.1 million automobiles were produced globally in 2021, rising 1.3% from the previous year. Additionally, according to the Global EV Outlook 2021, consumers spent USD 120 billion on electric vehicle purchases in 2020, a 50% increase over 2019. Therefore, the increasing demand for electric vehicle packaging is expected to propel the growth of the high voltage electric heater market.
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The high voltage electric heater market covered in this report is segmented –
1) By Type: Air Heaters, Coolant Heaters
2) By Heating Potential : Up to 4 KW, 4-7 KW, Above 7 KW
3) By Vehicle: Passenger Cars, LCVs, HCVs
4) By Vehicle Technology: Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles, Hybrid Electric Vehicles
Major companies operating in the high-voltage electric heater market are focused on developing new innovations, such as the e-product, to strengthen their position in the market. The e-product in Cadillac, Michigan, refers to a new high-voltage coolant heater (HVCH) that BorgWarner Thermal Systems is set to launch at its existing facility in Cadillac, Michigan. For instance, in November 2021, BorgWarner Inc., a US-based innovative and sustainable mobility solutions company for the vehicle market, launched a new high-voltage coolant heater (HVCH) that will be used to manage cabin and battery temperatures, critical for vehicle efficiency in hybrid and pure electric vehicles.
The high voltage electric heater market report table of contents includes:
1. Executive Summary
2.High Voltage Electric Heater Market Characteristics
3.High Voltage Electric Heater Market Trends And Strategies
4.High Voltage Electric Heater Market analysis
5.High Voltage Electric Heater Market Size And Growth
6.High Voltage Electric Heater Segmentation
7. High Voltage Electric Heater Regional And Country Analysis
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27. High Voltage Electric Heater Competitive Landscape And Company Profiles
28. High Voltage Electric Heater Key Mergers And Acquisitions
29. High Voltage Electric Heater Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- DBK Group
- LG Electronics
- Mitsubishi Heavy Industries Ltd
- BorgWarner Inc.
- Eberspächer Gruppe GmbH & Co. KG
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This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.
A summary of the report is available upon request.Booming Electric Vehicle Market Driving Demand for High Voltage Electric HeatersThe sales of electric cars across the globe is growing.
Hence, manufacturers in the high voltage electric heaters market are constantly developing new products to increase efficiency of modern vehicles.Stringent regulations are also being introduced in various countries on Carbon dioxide (CO2) emission.
Manufacturers in the high voltage electric heaters market are focusing on developing lightweight high voltage electric heaters limiting the waste heat and providing noiseless and rapid warming in the vehicle cabin.High Voltage PTC Heaters Gaining Traction in Electric VehiclesThe 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.High voltage Positive Temperature Coefficient (PTC) heaters with high heating capacity are widely used as a main heating equipment in electric vehicles.
Hence, proper ventilation system is must while installing high voltage electric heater in the car.The high voltage electric heaters requires more cable work between heater and controller, thus making the installation work more time-consuming and difficult.High voltage electric heaters also have high possibility of overheating that can result in more power consumption and damage the system especially in high voltage environment of electric and hybrid vehicles.Stringent Regulations on CO2 Emission Resulting in Shift to Electric CarsA typical passenger vehicle emits around 4.6 metric tons of carbon dioxide every year, according to the Environmental Protection Agency (EPA).
A business intelligence report on the global High Voltage Electric Heaters market offers quantitative estimation of the opportunities and qualitative assessment various growth dynamics.
The study highlights estimations of the opportunities in the historical period, and offers several projections during the forecast period.The following are taken into consideration:Historical Period: 2014 – 2018Forecast Period: 2019 to 2029Request to View Sample of Research Report @ https://www.factmr.com/connectus/sample?flag=S_id=1027Key Focus Areas of Report on Global High Voltage Electric Heaters MarketThe study on the High Voltage Electric Heaters market includes detailed market estimations of opportunities in various segments and their share/size globally in each year during the forecast period.
The following are the broad insights that form the backbone of the evaluation of the High Voltage Electric Heaters market.Detailed segmentation to at least two levels based on various parameters that include region, end user/application, and product/technology/service type/modelCurrent valuation of all the key segmentsProjected CAGR of the key segments from 2019 to 2029Qualitative analyses of the growth trajectory of the High Voltage Electric Heaters market year-over-year; these include scrutiny of the key growth dynamics: drivers, restraints, winning imperatives for players, challenges, and opportunitiesProfile of prominent players in the High Voltage Electric Heaters marketStrategies and Recent Moves made by them to consolidate their positionsCOVID-19 disruptions in macroeconomic dynamics that will shape the future contours of the market dynamicsAttractiveness of key product/technology segmentsSegmental Analysis Comprise the following.Based on End-use Industry/Application,Passenger CarsLCVHCVBased on Product/Technology,Air HeaterCoolant HeaterBased on Region,North AmericaLatin AmericaEuropeJapanAPEJMEATop players includeMahle GmbHWorry CorporationDBK David + Baader GmbHLG Electronics Inc.What Businesses Can Hope to Get in Business Intelligence on High Voltage Electric Heaters Market?The study insights on the High Voltage Electric Heaters market growth dynamics and opportunities highlights various key aspects, in which crucial ones are:Which are the technology and strategic areas that emerging, new entrants, and established players should focus on keep growing in the industry-wide disruptions that COVID-19 has caused?Which new avenues bear incredible potential during the ongoing COVID-19 lockdown restrictions?Which policies by governments can give the top stakeholders support their efforts of consolidation?What new business models are gathering pace among companies to remain agile in post-COVID-era?Which segments will see a surge in popularity in near future, and what calibrations players need to make to utilize the trend for an elongated period?To Know More Information about This Report, Ask The Analyst @ https://www.factmr.com/connectus/sample?flag=AE_id=1027Insights and Perspectives that make this Study on High Voltage Electric Heaters Market Stand OutThe analysts who have prepared the report have been keen observers of the dynamism due to macroeconomic upheavals.
Using the best industry assessment quantitative methods and data integration technologies, they have come out with a holistic overview of the future growth trajectories of the High Voltage Electric Heaters market.
Fact-based insights and easy-to-comprehend information based on wide spectrum of market data is what makes this study different from competitors.The following evaluations create a differentiating approach towards understanding the market dynamics and presenting the crux to its readers:The analysts harness rigorous statistical analytical tools combined with their expertise to identify imminent investment pockets in various regions and in various technology segments.The study offers a broad framework for businesses to assess the change in policies on their internal growth dynamics.The study strives to offer a multi-dimensional and inter-industry evaluation of the market impacts on recent mergers and acquisitions, deals and partnerships, and venture funding.The analysts have presented this information in easy-to-understand formats.About Fact.MRFact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports.
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