Press release
High Voltage Electric Heaters Market Growth Opportunity
High Voltage Electric Heaters Market Growth Opportunity
As per the report, 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 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%.
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Rising Demand For Electric Vehicles Drives Surge In High Voltage Electric Heater Market
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.
Driving Innovation And Sustainability In High Voltage Electric Heaters Market
Major companies operating in the high-voltage electric heater market are focused on developing new advanced technologies in the high-voltage electric heater market using environmentally friendly technology to strengthen their position in the market. Environmentally friendly are products and services, laws, regulations, and policies that promise to do little, no, or very little harm to ecosystems or the environment. For instance, in 20222, StreetScooter GmbH, a Germany-based automobile manufacturer, uses environment-friendly heating solutions for e-mobility from Eberspaecher. The company customizes electric high-voltage heaters or ethanol heaters, depending on the kind of vehicle, thereby creating the most effective and sustainable solutions. Eberspaecher is a Germany-based company that deals in electric high-voltage heaters.
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
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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, Industries, 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
Contents of the report:
1. Executive Summary
2. High Voltage Electric Heater Market Report Structure
3. High Voltage Electric Heater Market Trends And Strategies
4. High Voltage Electric Heater Market - Macro Economic Scenario
5. High Voltage Electric Heater Market Size And Growth
…..
27. High Voltage Electric Heater Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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