High Voltage Electric Heaters Market: Future Key Trends and CAGR Prediction through 2019-2029

ROCKVILLE, Md. - Dec. 12, 2019 - PRLog -- act.MR, in its latest business intelligence study, depicts the nuts and bolts of the global high voltage electric heaters market. The high voltage electric heaters report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth. Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the high voltage electric heaters report elaborates the market behavior of each vendor operating in the high voltage electric heaters market.

With a deeper outlook into the global automobile industry, there has been a significant shift from internal combustion (IC) engine driven vehicles to the swelling implementation of eco-friendly electric and hybrid vehicles. In electric vehicles, fairly low quantity of waste heat is generated which is not adequate for heating requirements; therefore, high voltage electric heaters are preferred as a primary heating source in electric and hybrid vehicles. According to this recently published Fact.MR study, rising environmental concerns and emission regulations have enhanced inclination towards electric and hybrid vehicles, thereby, motivating demand for high voltage electric heaters in the coming years.

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According to this intelligent Fact.MR study, the penetration of electric and hybrid vehicles is about 5% of the overall automobile sales; however, it is estimated that in the following ten years the demand for electric and hybrid vehicles would expand at a noteworthy pace, thereby, acquiring a prominent share in the global automobile sales. This rapid growth of electric and hybrid vehicles will ultimately push the market for high voltage electric heaters during the period until 2029. The report approximates that the target market will undergo a ten-fold increase to acquire a market value of ~US$ 9 Bn by 2029.

Coolant Heaters to Exhibit Productive Growth

There has been an increasing focus towards supportable and cost-effective products, which is effectively backing the build-up of high voltage electric heaters market during the forecast period. For instance, automakers are progressively adopting coolant heaters since they offer dual advantage of refining battery performance and cabin heating. At present, the coolant heater market is showcasing substantial growth to offer tough competition to air heater.

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The leading players as mentioned in the study include names like Mahle GmbH, DBK David + Baader GmbH, Worry Corporation, LG Electronics Inc., Mitsubishi Heavy Industries Ltd. and many more.