Press release
High Voltage Electric Heater Market Expansion Continues, with Forecast Valuation of $6.96 Billion by 2029
High Voltage Electric Heater
How Large Will the High Voltage Electric Heater Market Size By 2025?
The market size for high voltage electric heaters has seen significant growth in the past few years. An increase from $2.58 billion in 2024 to a projected $3.15 billion in 2025 indicates a compound annual growth rate (CAGR) of 22.2%. The notable growth during this historical period can be linked to factors such as the increasing need for energy-efficient solutions, the progression of industrialization and urbanization, infrastructure expansion, the electrification of the transportation sector, and integration of renewable energy sources.
How Big Is the High Voltage Electric Heater Market Size Expected to Grow by 2029?
There's a projected substantial escalation for the high voltage electric heater market size in the ensuing years, with growth expected to hit $6.96 billion by 2029, signifying a compound annual growth rate (CAGR) of 21.9%. This predicted growth during the forecast period can be ascribed to a global transition towards electric vehicles, increased digitalization and integration of Internet of Things (IoT), the electrification of the agriculture sector, and an emphasis on sustainability, as well as the swell in consumer electronics. Key trends to watch during this period are decentralized energy solutions, carbon-neutral heating answers, the concept of electric heater as a service (EHaaS), advancement in energy gathering techniques, and the adoption of 3D printing in production.
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Which Key Market Drivers Powering High Voltage Electric Heater Market Expansion and Growth?
The surge in interest for electric vehicles (EVs) is propelling the expansion of the high voltage electric heater market. These EVs, more formally known as battery electric vehicles (BEVs), operate on an electric motor instead of a conventional internal combustion engine. Rising fuel costs and pollution have fueled the growing popularity of electric vehicles. These automobiles employ high voltage electric heaters to convert DC electric power into heat with minimum energy waste. For example, per an International Energy Agency (IEA) report in 2023, the worldwide sale of electric cars in 2022 surpassed 10 million units, making up about 14% of all new vehicle sales that year. Further, the IEA predicts the momentum of EV sales to persist, with an anticipated surge to 14 million units by the end of 2023, symbolizing a 35% annual growth. Hence, the climbing demand for electric vehicle packaging is likely to drive the growth of the high voltage electric heater market.
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Which Fast-Growing Trends Are Poised to Disrupt the High Voltage Electric Heater Market?
Leading firms in the high-voltage electric heater market are investing efforts into the creation of sophisticated technology; they employ eco-friendly approaches for this task as a strategy to consolidate their market stance. Eco-friendly pertains to products, services, legislation, rules, and strategies that have negligible, little, or absolutely zero detrimental effects on the ecosystem or environment. For instance, in 2022, StreetScooter GmbH, an automaker from Germany, adopted environmentally-friendly heating solutions for e-mobility courtesy of Eberspaecher. The company modifies electric high-voltage heaters or ethanol heaters according to the vehicle type, thereby formulating the most efficient, sustainable solutions. Eberspaecher, based in Germany, is a player in the electric high-voltage heater market.
What Are the Emerging Segments in the High Voltage Electric Heater Market?
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
Subsegments:
1) By Air Heaters: High Voltage Air Heaters For Industrial Applications, High Voltage Air Duct Heaters
2) By Coolant Heaters: High Voltage Coolant Heaters For Automotive Applications, High Voltage Coolant Circulation Heaters For Industrial Equipment
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Who Are the Global Leaders in the High Voltage Electric Heater Market?
Major companies operating in the high voltage electric heater market include DBK Group, Mitsubishi Heavy Industries Ltd., Eberspächer Gruppe GmbH & Co. KG, Mahle Gmbh, Webasto SE, NIBE Element, Smiths Group, OMEGA Engineering, Watlow Electric Manufacturing Company, Tutco Inc., Woory Corporation, CCI Thermal Technologies Inc., Chromalox, Tempco Electric Heater Corporation, durex* 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., Nexthermal Corporation, Temp-Rite Electric Co., Watco Companies LLC, Accutherm International
Which are the Top Profitable Regional Markets for the High Voltage Electric Heater Industry?
North America was the largest region in the high voltage electric heater market share in 2024. The regions covered in the high voltage electric heater market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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