Press release
High Voltage Electric Heater Market Analysis, Size, Share, Latest Trends, Growth, And Forecast Report 2033
High Voltage Electric Heater Market
The Business Research Company presents an extensive market research report on the High Voltage Electric Heater Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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.
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Key Market Players:
Major companies operating in the high voltage electric heater market report are DBK Group, LG Electronics, Mitsubishi Heavy Industries Ltd., BorgWarner Inc., Eberspächer Gruppe GmbH & Co. KG, Mahle Gmbh, Webasto SE, NIBE Element, Smiths Group, OMEGA Engineering, Watlow Electric Manufacturing Company, Tutco Inc., Infrared Heating Technologies, Woory Corporation, CCI Thermal Technologies Inc., Chromalox, Tempco Electric Heater Corporation, EXHEAT Ltd., S&A Manufacturing, Industrial Heater Corporation, Hotset America, Hi-Tech Elements, Ulanet, Elmatic (Cardiff) Ltd., Warren Electric Corporation, Sigma Thermal, Backer Hotwatt Inc., Akinsun Heat Co. Ltd., Sinus-Jevi Electric Heating B.V., Kawai Electric Ltd., Thermo Heating Elements LLC, Kuhlmann Electro-Heat A/S, Dalton Electric Heating Co. Inc., Fenwal Controls of Japan Ltd., Nexthermal Corporation, Temp-Rite Electric Co., Watco Companies LLC, Accutherm International
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/high-voltage-electric-heater-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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