Fact.MR projects a modest 2.9% CAGR for the automotive heater core market over the forecast period (2018-2028). Strong car sales have increased demand for essential, crucial parts, and the automobile heater core is no exception.
Through their expansion and innovation-driven efforts, major players in the automotive heater core market are predicted to create profitable growth prospects. Vehicle heating systems now run more silently and efficiently thanks to technological advancements including the adoption of ceramic positive temperature coefficient (PTC) components as the heater core’s core elements.
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Key findings of the automotive heater core study:
- Regional breakdown of the automotive heater core based on predefined taxonomy.
- Innovative manufacturing processes implemented by automotive heater core vendors in detail.
- Region-wise and country-wise fragmentation of the automotive heater core to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global automotive heater core.
Automotive Core Heater Market to Benefit from Aftermarket’s Lucrative Opportunities
Automotive heater core failures, although less prevalent, are a key concern among automaker and consumers alike. Known as essential compact radiators, automotive heater cores witness failure on account of corrosion and pressure on cooling system. Replacement or repair of automotive heater core is a challenging and expensive activity, as they are located inside passenger compartment. Aftermarket automotive heater cores produced currently are relatively less expensive than their OEM counterparts, and are better designed to function as OEM-produced heater cores.
Aftermarket vendors take immense efforts in maintaining the material quality and structure of automotive heater cores, along with using new foams for every product manufactured, similar to that of OEM-approach. This has paved lucrative opportunities for automotive heater cores in the aftermarket.
Electric Vehicles Are Increasing Demand for Automotive Heater Core
New production plants apropos of high voltage heater manufacturing are being opened by leading manufacturers, in order to cater demand from hybrid and battery electric vehicles. Eberspaecher’s new electric heaters production plant in Tianjin is a prime example of such installments. The company seeks reinforcing its domestic footprint by this new production plant, while expanding its capacities to tap rapidly expanding Chinese passenger car industry, particularly for battery electric vehicles.
Integral components of electric heaters such as PTC ceramics for heater core will be manufactured in the plant. Such new installations with regard to automotive heating system will significantly rub off on development and sales of automotive heater core in the forthcoming years, thereby augmenting the market growth.
Major stakeholders in the automotive heater core market such as BorgWarner, and Eberspaecher are taking expansion and innovation efforts for capitalizing on the growing penetration of electric vehicles. BorgWarner, global leading company in clean & efficient technology solutions for electric, hybrid and combustion vehicles, has recently announced its plan on supplying advanced high-voltage positive temperature coefficient (PTC) heating technology to a well-known electric vehicle manufacturer.
This innovative automotive heating technology incorporates ceramic PTC components as its core elements, which contributes to reduced energy waste and noise-less operation of HVAC systems in vehicles. Advent of such technologies are likely to underpin automakers in designing and developing next-generation, efficient & clean vehicles.
The automotive heater core market report will improve the revenue impact of businesses in various industries by:
- Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the automotive heater core market
- Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global automotive heater core market and offers solutions
- Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
- Provides understanding of disruptive technology trends to help businesses make their transitions smoothly
- Helping leading companies make strategy recalibrations ahead of their competitors and peers
- Offers insights into promising synergies for top players aiming to retain their leadership position in the automotive heater core market.
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