The vital factors driving the growth of this market are the increased levels of safety and lower operating cost and downtime.
Market Size – USD 4.66 Billion in 2020, Market Growth - CAGR of 7.8% between 2019 and 2028, Market Trends – Reduced LED prices and high LED penetration
The PTC Heaters Market is expected to grow from USD 4.66 Billion in 2020 to USD 8.52 Billion by 2028, at a CAGR of 7.9%. PTC heaters with high voltage are specially designed for electric and hybrid vehicles as there is no engine exhaust heat available during winter in electric vehicles.
PTC heaters also have a high heating capacity and are quick to operate. Therefore, the PTC Heater market is expected to boost during the forecast period.
Increasing demand for electric vehicles (EVs) is the most important factor that will drive the future demand for the PTC heaters market.
The significant players in the market are European Thermodynamics Limited (UK), MAHLE Group (Germany), Backer Heating Technologies (US), Pelonis Technologies, Inc. (US), GSI Technologies (US), Backer Hotwatt (US), Watlow (US), DBK David + Baader GmbH (Germany), and Genesis Automation (US) among others.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The PTC Heaters Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of thePTC Heaters Market.
Further key findings from the report suggest
• The PTC Heaters Market is expected to grow from USD 4.66 Billion in 2020 to USD 8.52 Billion by 2028, at a CAGR of 7.9%. PTC heaters with high voltage are specially designed for electric and hybrid vehicles as there is no engine exhaust heat available during winter in electric vehicles.
• PTC heaters also have a high heating capacity and are quick to operate. Therefore, the PTC Heater market is expected to boost during the forecast period.
• On the basis of Application, the PTC Air Heater is expected to grow at the highest CAGR of 8.3%, with revenue of USD 2.69 Billion during the forecast period. Demand for PTC Air Heater will mostly be driven by the automotive segment due to rising adoption of PTC Air heater and the rising initiatives towards safety and compliance.
• Honeycomb PTC Heater market is expected to grow at a CAGR of 6.5% with revenue of USD 3.76 Billion during the forecast period. Demand for honeycomb PTC heaters is mainly driven by the increase in levels of safety and lower operating costs and downtime.
• APAC is expected to primarily dominate the market during the forecast period as the region's growing sales of electric vehicles can be attributed to increased adaptation of green vehicles in developing countries such as China.
• Due to strict standards and higher adaptation of new and green technologies, North America and Western Europe are expected to have high growth potential.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2028. For the purpose of this study, Reports and Data have segmented the market on the basis of type, applications and regional analysis.
Type (Revenue, USD Million; 2018–2028)
• Honeycomb PTC Heater
• PTC Air Heater
Application (Revenue, USD Million; 2018–2028)
Region (Revenue, USD Million; 2018–2028)
• North America
• Latin America
• Middle East & Africa
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Key Advantages of PTC Heaters Market:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the PTC Heaters industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the PTC Heaters Marketare quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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