High voltage electric heaters are used worldwide to provide internal heating to vehicle interiors in electrically operated vehicles. It is pertinent to note here that electric vehicles are the future of transportation. The emission of carbon dioxide and other pollutants from automobiles is one of the main concerns of environmental organizations and government agencies. Hence, various governments have planned to phase out gasoline or diesel-fueled vehicles and have set up plans for deployment of electric vehicles. Growing adoption worldwide is due to create new opportunities for players operating in global High Voltage Electric Heaters Market in the near future. In its upcoming marker report, Transparency Market Research notes that a steady growth rate would be charted by global high voltage electric heater market over the forecast period of 2020 to 2030 owing to myriad factors – prominent among which are delineated below.
Players in the global high voltage electric heater market adopt various strategies to increase market penetration and to expand reach. These measures are leading to some notable developments in the competitive landscape.
In 2019, BorgWarner and Webasto expanded their production facilities in India and Mexico to capture higher market share. It is pertinent to note here that in 2018, BorgWarner and Eberspaecher started a new facility to cater to the rising demand for electric vehicle products in China. This has largely consolidated the market position of the company.
The fragmented vendor landscape of High Voltage Electric Heaters Market has a number of notable players marking the playfield. Some of the prominent ones are:
Asia Pacific is set to record notable growth in the market over the forecast period owing to increasing sales of electric vehicles and higher adoption rates of green technologies in countries, such as South Korea, India, and China.
On the other hand, the European and North American regions will account for significant share of market owing to an increase in adoption of electric vehicles in these regions – led by improving infrastructure and presence of strong players. Beside, stringent emission control regulations are set to contribute to growth in these regional markets. In Europe, it is expected that the Netherlands will climb to the top in electric vehicle markets due to a combination of regulations and incentive changes.