PTC Heaters Market by Type, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

The PTC Heaters Market is valued to reach USD 7.27 Billion by 2026, growing at CAGR of 7.65% over the forecast period 2020–2026. Increasing demand for electric vehicles (EVs), manufacturer emphasis on creating functional products for automotive and end-user markets and higher adaptation of new and green technologies are the key factors propelling the market growth.

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As the trend of electric vehicles is surging, the use of positive temperature coefficient (PTC) heaters is gaining traction. High-capacity PTC heaters are used as heat pump performance drops steadily during cold season resulting in low outdoor temperatures. Apart, the weight of the heaters is an important parameter in designing the form factor for single-charge travel distance of EVs. A fin shape is important in enhancing the performance of PTC heater for electric vehicles. As the heating performance of PTC heaters demonstrates efficiency and pressure drop of high-voltage, the temperature of inlet and outlet air in EVs exhibits a high potential. With regards to vibration and reliability, PTC heaters have resulted in achieving a low threshold.

The fast paced adoption of electric vehicles and growing infrastructure has resulted in the development of semiconductor technology. The market for semiconductors has a direct influence over PTC heaters. The paradigm shift in approach for the production of energy saving chips is rapidly supporting the market growth for PTC heaters. From the commercial aspect, PTC heaters can be customized based on their characteristics. Apart from the automotive domain, the heaters find a significant use in stabilizing, adjusting and controlling temperatures for indoors. Since PTC does not oxidize in high temperature and is neither delicate, it offers ensure quality service and long life.

PTC Heaters Market Trends, Drivers and Opportunities:

PTC heaters market is driven by increase in the production of electric vehicles and hybrid technology. The demand for electric vehicles is likely to gain a traction owing to increasing popularity and demand. As electric vehicles offer numerous advantages over conventional vehicles such as low emission and minimal noise pollution, PTC heaters for electric vehicles is an inseparable component. Apart from the automotive sector, the popularity of the heaters gains a high traction owing to increase in scope of semiconductor technology. On contrary, high price of the heaters in developing economies is likely to hinder the market growth.