Automotive Heaters Market Size Worth USD 14.30 Billion, Globally, by 2030 at a CAGR of 5.7%

The Global Automotive Heaters Market Size to Record 5.7% CAGR over 2023-2030; Denso Corporation Created Electrification Components for Toyota bZ4X and Subaru SOLTERRA

Pune, India, Sept. 18, 2023 (GLOBE NEWSWIRE) — The global automotive heaters market size was valued at USD 9.36 billion in 2022 and is expected to be worth USD 9.69 billion in 2023. The market is projected to reach USD 14.30 billion by 2030, recording a CAGR of 5.7% during the forecast period.

Automotive heaters are a system or components that offer warmth to a vehicle’s interiors and regulate its temperature during cold climate conditions. They also play an important role in improving a vehicle’s safety by offering defogging features to provide drivers with a better view of the road ahead and enhance their driving experience. These factors are expected to fuel the automotive heaters market growth.

Fortune Business Insights™ displays this information in a report titled, “Automotive Heaters Market, 2023-2030.”

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Report Highlights:

Drivers & Restraints-

Rising Demand for Effective Climate Control Solutions to Bolster Market Growth

The need for effective climate control solutions in vehicles is rising among customers who live in countries with colder climates, which has boosted the deployment of energy-efficient heaters. Automotive heaters can increase the comfort and convenience of customers while driving by defogging the windshield, thereby boosting vehicle safety. Moreover, advancements in vehicle technologies will boost the adoption of innovative automotive heaters, thereby driving the market progress. However, the decreased efficiency of electric vehicles due to excess battery power usage by automotive heaters can hinder the market growth.

COVID-19 Impact-

Decrease in Vehicle Manufacturing and Sales during COVID-19 Slowed Market Growth

The COVID-19 pandemic had a severe impact on the production and sales of vehicles as governments across the world imposed several movement and travel restrictions, forcing people to stay indoors. The severe supply chain disruptions caused a major shortage of raw materials, which further reduced the demand for vehicles. This factor hindered the demand for automotive heaters, further slowing the market progress.

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Segments-

Development of Advanced Technologies to Boost Adoption of Blower Fans

Based on components, the market is segmented into the heater core, blower fan, and others. The blower fan segment dominated the market in 2022 as manufacturers are focusing on the development of innovative technologies to boost the performance of blower fans.

Automotive Heaters to be Widely Used in Passenger Cars due to their Growing Production and Sales

Based on vehicle type, the market is divided into passenger cars and commercial vehicles. The passenger cars segment held a dominant automotive heaters market share in 2022 as the production and sales of these vehicles are rising across the world. With respect to region, the market covers North America, Europe, Asia Pacific, and the Rest of the World.

Report Coverage-

The report has analyzed the market in-depth and highlighted various key aspects such as leading product/service types, prominent companies, and top applications of the product. It also offers insights into the market trends and underlines key industry developments. Besides the factors mentioned above, the report covers many factors that have contributed to the market’s growth in recent years.

Regional Insights-

Asia Pacific to Dominate Market Due to Growing Automobile Production

Asia Pacific held a dominant position in the global market in 2022 and might retain its dominance during the forecast period as well due to the growing production of vehicles in the region. Asia Pacific is considered a major hub for automobile manufacturing, with countries, such as India, Japan, China, and South Korea, being the top contributors to the automotive industry. North America accounted for a significant market share in 2022 as there is a robust demand for efficient heating systems in vehicles to offer comfort and safety during harsh winter conditions.

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Competitive Landscape-

Key Market Players to Partner and Collaborate to Gain Strong Competitive Edge

The key market players are providing a complete range of advanced automotive heating solutions such as heater components and cabin heaters. They are also increasing their focus on strategic collaborations and partnerships to expand their market share and help them gain a competitive edge. Some of the major companies operating in this market include BorgWarner Inc., Denso Corporation, and Mahle GmbH.

List of Key Players Covered in the Automotive Heaters Market Report:-

• CEBI (Luxembourg)
• Texas Instruments (U.S.)
• Skyworks Solutions Inc. (U.S.)
• Webasto Group (Germany)
• MAHLE GmbH (Germany)
• Smiths Group plc (U.K.)
• Thermotion (U.S.)
• Eberspächer (Germany)
• GENTHERM (U.S.)
• Denso Corporation (Japan)
• VALEO SA (France)
• Delphi Technologies (U.K.)

Automotive Heaters Market Segmentation:-

By Component

• Heater Core
• Blower Fan
• Others

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

Key Industry Development:

April 2022 – Denso Corporation produced electrification components for the Toyota bZ4X and Subaru SOLTERRA. Apart from ECU, sensors, and inverters, the components include heat pump systems and radiant heating systems.

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Table of Contents:-

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
  • Market Trends
• Key Insights
  • Key Industry Developments – Mergers, Acquisitions & Partnerships
  • Latest Technological Advancements
  • Porters Five Forces Analysis
  • Supplier Analysis
  • Impact of COVID-19 Pandemic on Global Automotive Heaters Market
• Global Automotive Heaters Market Analysis, Insights and Forecast, 2019-2030
• Key Findings / Definition
• Market Analysis, Insights and Forecast – By Component
  • Heater Core
  • Blower Fan
  • Others
• Market Analysis, Insights and Forecast – By Vehicle Type
  • Passenger Cars
  • Commercial Vehicles
• Market Analysis, Insights and Forecast – By Region
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Toc Continued……

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