Top Players in the High Voltage Electric Heaters Market Account for Over 80% of Revenue Share
The high voltage electric heaters market remain concentrated among the leading players accounting for more than 80% of revenue share. Product innovation, providing safety features and easy installation are some of the key strategies adopted by major players in the high voltage electric heaters market.
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Companies are also investing in new technologies and opening new production centers in various regional markets to meet the growing demand for technically advanced components for electric and hybrid vehicles. Acquisitions and partnerships are in the market is on a rise in high voltage electric heaters market with companies aiming to strengthen their position in the global market.
Booming Electric Vehicle Market Driving Demand for High Voltage Electric Heaters
The sales of electric cars across the globe is growing. According to the report by International Energy Agency (IEA), sales of electric vehicles worldwide exceeded 1 million units in 2017, China accounted for more than half of the global sales of electric cars. Meanwhile, the US is the second largest electric cars market.
Minimizing the impact from heating, ventilation and air-conditioning system on the driving range of electric vehicles is one of the biggest challenges. Hence, manufacturers in the high voltage electric heaters market are constantly developing new products to increase efficiency of modern vehicles.
Stringent regulations are also being introduced in various countries on Carbon dioxide (CO2) emission. These standards and policies are driving the demand for high voltage electric heaters for hybrid and electric vehicles in various countries. Manufacturers in the high voltage electric heaters market are focusing on developing lightweight high voltage electric heaters limiting the waste heat and providing noiseless and rapid warming in the vehicle cabin.
High Voltage PTC Heaters Gaining Traction in Electric Vehicles
The automobile industry is rapidly replacing internal combustion engine vehicles with eco-friendly electric vehicles. To boost electric vehicle use and reduce battery power consumption, manufacturers in high voltage electric heaters market are developing highly efficient heating system for electric vehicles.
High voltage Positive Temperature Coefficient (PTC) heaters with high heating capacity are widely used as a main heating equipment in electric vehicles. Meanwhile, many manufacturers are concentrating on evaluating heating performance of high voltage PT heaters for electric vehicles.
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With the active adoption of air heaters for electric vehicle heating, high voltage electric heaters manufacturers are focusing on improving performance and reliability of high voltage PTC heaters by taking into account driving environment and characteristics of repeated operations.
Considerable amount of research is being done on main heating equipment for electric cars. While many research have found high voltage PTC heaters to be efficient, reliable, and capable of achieving heating capacity.
Installation, Maintenance and Safety Issues in High Voltage Electric Heaters to Remain Longstanding Challenge
Generating sufficient heat within the vehicle for comfort of passengers, high voltage electric heaters in case of high temperature create very low humidity, resulting in serious health consequences. The maintenance high voltage electric heaters is also difficult as it can get effected by conditions such as extreme temperatures, short circuit, collision, water immersion, and humidity. Hence, proper ventilation system is must while installing high voltage electric heater in the car.
The high voltage electric heaters requires more cable work between heater and controller, thus making the installation work more time-consuming and difficult.High voltage electric heaters also have high possibility of overheating that can result in more power consumption and damage the system especially in high voltage environment of electric and hybrid vehicles.
With advanced automotive drive technology, installation of high voltage electric system has become common in vehicles. To avoid serious accidents including burn and shock, the demand for new safety concepts for vehicles with high voltage electric systems has also increased. Electric cars are also expensive as high-voltage system in these cars require special protection to avoid exposure to electricity resulting in serious injuries.
Stringent Regulations on CO2 Emission Resulting in Shift to Electric Cars
A typical passenger vehicle emits around 4.6 metric tons of carbon dioxide every year, according to the Environmental Protection Agency (EPA). Various regulatory bodies across the globe are introducing mandatory emission reduction targets for cars. This is resulting in the increasing adoption of electric vehicles worldwide.
The demand for innovative vehicle efficiency technologies and designs is gaining traction in the regional markets. Hence, electric car manufacturers are integrating high voltage electric heaters in cars to provide better performance and speed. The manufacturers in the high voltage electric heaters market are also developing innovative products and technologies for electric passenger vehicles resulting in zero CO2 emission.
Insufficiency of waste heat produced by power engine in electric cars for heating purpose. The demand in the high voltage electric heaters market providing required heating capacity has increased.
The report on the high voltage electric heaters market provide insights and detailed profiles of all the leading market players. The study also focuses business strategies being adopted by both established and emerging players in the high voltage electric heaters market. The report also provides details on new developments, key financials, product portfolio, business strategies, and mergers and acquisitions in the high voltage electric heaters market.
Companies in the market are focusing on worldwide expansion through partnerships, opening new facilities, and mergers and acquisitions. For instance, Mitsubishi is planning to build a parts industry and supply chain in Vietnam. The company is also planning to develop a second plant in Vietnam by 2020 with the capacity of around 30,000 to 50,000 vehicles per year.
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BorgWarner opened new production plant in China to support growing demand from hybrid, electric vehicles and combustion. The plant will produce drive motors, and EV and HEV products.
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