DUBLIN--(BUSINESS WIRE)--The "Automotive Heater Core Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The market for automotive heater core is expected to expand at a 7.5% CAGR during the forecast period of 2022 to 2030.
Company Profiles
- BorgWarner
- Eberspaecher
- Delphi Auto Parts
- MAHLE GmbH
- Spectra Premium
- DENSO CORPORATION
- Valeo
Cutting Edge Technologies and Innovations Remains as The Key Market Driver
The heater core market is likely to be driven by an increase in the adoption of electric vehicles due to government initiatives and strict environmental regulations during the projected period. For instance, the International Energy Agency (IEA) reports that sales of electric cars surpassed a record 3 million in 2020, an increase of 40% from 2019. Additionally, it is estimated that by 2050, there will be 300 million electric cars on the road and they would represent over 60% of new auto sales, up from just 5% percent in 2020. Therefore, over the projection period, electric vehicles offer a profitable opportunity for the expansion of the heater core market.
Ceramic PTC components are the main building blocks of this cutting-edge automotive heating technology, which helps decrease energy waste and ensures that HVAC systems in cars operate quietly. The introduction of such technology is probably going to support automakers in creating and building the next generation of effective and clean vehicles.
Focus on Environment-Friendly Solutions Offering Significant Opportunities
The automobile industry has begun to evidence a paradigm shift from traditional IC engines toward environmentally-friendly vehicles such as hybrid and electric cars as a result of regulations on carbon dioxide emissions brought on by the depletion of fossil fuels and global warming. Due to their superior energy efficiency compared to their gasoline and diesel-powered counterparts, electric cars have been deemed the best option for environmentally friendly automobiles. However, the amount of waste heat produced by electric vehicle power engines is insufficient for heating, necessitating the use of additional equipment as the primary heating source.
High-voltage PTC heaters have emerged as the most practical method for achieving the necessary heating efficiency, reliability, and capacity following a significant amount of research on primary heating equipment for electric automobiles, including combustion heaters and heat pumps. More research is being done to increase the heating performance and efficiency of high-voltage PTC heaters, which use PTC ceramics as their heater cores. Examples of this research include creating closed-loop systems and creating prototypes with standardized features. These studies are likely to have a big impact on the high-voltage PTC heater designs that are optimized, which will accelerate their use in electric vehicles in the next years.
Type of Vehicle: Passenger Vehicles Dominate the Global Market
The passenger vehicle and commercial vehicle segments make up the primary market for automotive heaters. Due to increased production of passenger vehicles globally, growing urbanization, rising per capita incomes, and high consumer demand, the passenger vehicle category is expected to grow at a significant rate during the forecast period. Sales of electric vehicles is expected to rise as a result of global government measures to promote green mobility, OEM involvement in the production of electric vehicles, and the accessibility of infrastructure in industrialized nations. The automotive heater core market is expected to be driven by this over the projected period.
Sales Channel: After Market Segment to Lead
The automobile heater core market is segmented into aftermarket and OEM in terms of sales channels. The heater core has a six-year lifespan, on average. Lack of sufficient cooling system maintenance, poor coolant performance, and metal erosive corrosion shorten heater core life and necessitate costly heater core replacement. The aftermarket segment is predicted to hold a substantial proportion of the automotive heater core market during the forecast period since players in this market made considerable investments in heater core design and materials at competitive prices.
Geography: APAC Emerges as The Global Leader
As a result of the region's significant production of both passenger and commercial cars, Asia Pacific is predicted to account for a sizable portion of the worldwide automotive heater core market. During the projection period, the Asia Pacific region is anticipated to hold the largest market share. The significant volume of commercial and passenger vehicle production is credited with the area's expansion.
Key questions answered in this report
- What are the key micro and macro-environmental factors that are impacting the growth of the automotive heater core market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the automotive heater core market?
- Which is the largest regional market for the automotive heater core market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving automotive heater core market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the automotive heater core market worldwide?
For more information about this report visit https://www.researchandmarkets.com/r/bb2p1j
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