Automotive Heater Core Market Trends, Growth, Size, Share & Future Insights Analyzed for the Period 2018-2028

Expansion and innovation-driven efforts of major players in the automotive heater core market are likely to create lucrative avenues for the market growth. Advent of technologies, such as incorporation of ceramic positive temperature coefficient (PTC) components as core elements of heater core have resulted in silent operations and reduced energy waste in heating systems of vehicles. A moderate 2.9% CAGR has been foreseen for the automotive heater core market by a recent Fact.MR report.

With the advent of hybrid and electric passenger cars, automotive heating systems are perceiving continuous developments. Heater core in vehicles are on the cusp of becoming a component of the past, as manufacturers focus on reversing refrigerant flow via air-conditioning systems for transmuting the evaporator core into condenser. This would further provide ample heat for passenger compartments.

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Convergence of a wide range of technologies and industries within the automotive space has been paving lucrative avenues for stakeholders, which has led them in employing strategies to bank on dynamically evolving trends. Technology driven trends such as autonomous driving, connected vehicles, block chain, and 3D printing have further been influencing developments in vehicles by improving their efficiency.

This has further spurred sales of automobiles across the globe since the recent past. According to International Organization of Motor Vehicle Manufacturers (OICA), total number of automotive vehicles produced worldwide surpass 97,300,000 units, while automotive sales, including cars and commercial vehicles, closes in on nearly 97,000,000 in 2017. Robust sales of vehicles have rubbed off on demand for imperative integral components, and automotive heater core is no exception. A new report of Fact.MR projects a modest 2.9% CAGR for the automotive heater core market over the period of forecast (2018-2028).

Aftermarket to Pave Lucrative Opportunities for Automotive Core Heater Market

Automotive heater core failures, although less prevalent, are a key concern among automaker and consumers alike. Known as essential compact radiators, automotive heater cores witness failure on account of corrosion and pressure on cooling system. Replacement or repair of automotive heater core is a challenging and expensive activity, as they are located inside passenger compartment. Aftermarket automotive heater cores produced currently are relatively less expensive than their OEM counterparts, and are better designed to function as OEM-produced heater cores.

Aftermarket vendors take immense efforts in maintaining the material quality and structure of automotive heater cores, along with using new foams for every product manufactured, similar to that of OEM-approach. This has paved lucrative opportunities for automotive heater cores in the aftermarket.

Automotive Heater Core Perceives Rise in Demand from Electric Vehicles

New production plants apropos of high voltage heater manufacturing are being opened by leading manufacturers, in order to cater demand from hybrid and battery electric vehicles. Eberspaecher’s new electric heaters production plant in Tianjin is a prime example of such installments. The company seeks reinforcing its domestic footprint by this new production plant, while expanding its capacities to tap rapidly expanding Chinese passenger car industry, particularly for battery electric vehicles.

Integral components of electric heaters such as PTC ceramics for heater core will be manufactured in the plant. Such new installations with regard to automotive heating system will significantly rub off on development and sales of automotive heater core in the forthcoming years, thereby augmenting the market growth.

Major stakeholders in the automotive heater core market such as BorgWarner, and Eberspaecher are taking expansion and innovation efforts for capitalizing on the growing penetration of electric vehicles. BorgWarner, global leading company in clean & efficient technology solutions for electric, hybrid and combustion vehicles, has recently announced its plan on supplying advanced high-voltage positive temperature coefficient (PTC) heating technology to a well-known electric vehicle manufacturer.

This innovative automotive heating technology incorporates ceramic PTC components as its core elements, which contributes to reduced energy waste and noise-less operation of HVAC systems in vehicles. Advent of such technologies are likely to underpin automakers in designing and developing next-generation, efficient & clean vehicles.

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High Voltage PTC Heaters Integration in Electric Vehicles – Potential Opportunity

Regulations on carbon dioxide emissions, caused by fossil fuel depletion and global warming, have led the automotive industry to perceive a paradigm shift from conventional IC engines toward environment-friendly vehicles such as hybrid and electric cars. Electric cars have been deemed as optimal solution for eco-friendly vehicles in light of their higher energy efficiency than their petrol- & diesel-driven counterparts.

However, amount of waste heat generated by power engines in electric vehicles is insufficient for the purpose of heating, which entails the need for additional equipment as a main heating source. Post-considerable amount of research conducted on seeking primary heating equipment for electric cars, including combustion heater and heat pumps, high-voltage PTC heaters have been proved as most realistic solution capable of attaining required heating efficiency, reliability, and capacity.

More research efforts are being dedicated to improving heating performance and efficiency of high-voltage PTC heaters, which contain PTC ceramics as heater cores, such as building closed-loop system and designing prototypes with general characteristics. These researches are likely to significantly contribute to optimization of designs related to high-voltage PTC heaters, which in turn will fuel their penetration in electric vehicles in the upcoming years.

Competitive Landscape Assessment

Valuable perspectives encapsulate in the research report offers imperative information related to the competitive landscape in the market that allows the major market players and new companies to develop informed business strategies. On the basis of these insights and accurate analysis offered in the report, prominent market players can identify the current market trends and redesign their marketing strategies to deliver effective outcomes.

The research report also offers SWOT analysis that discusses the threats, opportunities, weaknesses, and strengths of the leading companies identified in the automotive heater core market. In-depth insights apropos novel product developments, mergers & acquisitions among market players, and impact of the regulatory changes have also been accommodated in the competitive landscape chapter of the study to benefit the readers and investors.

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