Automotive Heaters Market

Automotive Heaters Market

Growth Factors of Automotive Heaters Market

The automotive heaters market size was valued at USD 9.36 billion in 2022, and the market is now projected to grow from USD 9.69 billion in 2023 to USD 14.30 billion by 2030, exhibiting a CAGR of 5.7% during the forecast period of 2023-2030.

The ongoing COVID-19 pandemic exerted a great influence on the market as it disrupted the supply chains and closed plants and severely cut vehicle demand. The high population halved its car purchases by 14% in 2020, a report on the International Energy Agency (IEA). Additional limitations that are associated with lockdowns and achievement of other travel restrictions also answered to reduced need for heating vehicles that were used on daily commuting and mobility. These factors have held back the market over the years and were particularly devastating during the pandemic.

As the need for proper climate control for cars especially in the extreme cold regions increases the need for better automotive heaters increases as well. Especially in countries such as Canada with average temperature around -25 degree C warmth control system of the vehicles is vital for safety. This has made heaters in vehicles more relevant, so their market importance has been boosted.

This has as a result help demand for automobiles grow especially the new generation electric automobiles. Based on IEA data, the number of electric vehicle sales in 2022 was 10.3 million and could increase to about 14 million by the end of 2023. It is notable that this adoption is rising, and it helps the industry to move to sustainable transportation solutions.

Comprehensive Analysis of Automotive Heaters Market

The automotive heaters market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by component analysis, and by vehicle type analysis. By component analysis incudes heater core, blower fan, and others. By vehicle type analysis incudes passenger cars and commercial vehicles.

The Asia Pacific region lead the automotive heaters market share by benefitting a market size of USD 5.20 billion in 2023 due to growing production of vehicles.

Top players in the market have their responsibility of automotives industrial prospectus growth of the retailing industry and the markets. These players include, CEBI, Texas Instruments, Skyworks Solutions Inc., Webasto Group, MAHLE GmbH, Smiths Group plc, Thermotion, Eberspächer, GENTHERM, Denso Corporation, VALEO SA, Delphi Technologies these market players provide a level-playing competitive landscape.

In June 2023, Webasto developed the Cool Top Trail 28V and Cool Top Trail 36V rooftop air conditioners, capable of both heating and cooling cabins in temperatures ranging from -5°C to +50°C.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 5.7% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Component

Heater Core

Blower Fan

Others

By Vehicle Type

Passenger Cars

Commercial Vehicles

By Geography

North America (By Component, By Vehicle Type)

• U.S. (By Vehicle Type)
• Canada (By Vehicle Type)
• Mexico (By Vehicle Type)

Europe (By Component, By Vehicle Type)

• U.K. (By Vehicle Type)
• Germany (By Vehicle Type)
• France (By Vehicle Type)
• Rest of Europe (By Vehicle Type)

Asia Pacific (By Component, By Vehicle Type)

• China (By Vehicle Type)
• Japan (By Vehicle Type)
• India (By Vehicle Type)
• South Korea (By Vehicle Type)
• Rest of Asia Pacific (By Vehicle Type)

Rest of the World (By Component, By Vehicle Type)


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