The PTC Air Heater Market is expected to grow from USD 4.66 Billion in 2020 to USD 8.52 Billion by 2028, at a CAGR of 7.9%. PTC Air Heater with high voltage are specially designed for electric and hybrid vehicles as there is no engine exhaust heat available during winter in electric vehicles.
PTC Air Heater also have a high heating capacity and are quick to operate. Therefore, the PTC Heater market is expected to boost during the forecast period.
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Further key findings from the report suggest
- The PTC Air Heater Market is expected to grow from USD 4.66 Billion in 2020 to USD 8.52 Billion by 2028, at a CAGR of 7.9%. PTC Air Heater with high voltage are specially designed for electric and hybrid vehicles as there is no engine exhaust heat available during winter in electric vehicles.
- PTC Air Heater also have a high heating capacity and are quick to operate. Therefore, the PTC Heater market is expected to boost during the forecast period.
- On the basis of Application, the PTC Air Heater is expected to grow at the highest CAGR of 8.3%, with revenue of USD 2.69 Billion during the forecast period. Demand for PTC Air Heater will mostly be driven by the automotive segment due to rising adoption of PTC Air heater and the rising initiatives towards safety and compliance.
- PTC Air Heater market is expected to grow at a CAGR of 6.5% with revenue of USD 3.76 Billion during the forecast period. Demand for honeycomb PTC Air Heater is mainly driven by the increase in levels of safety and lower operating costs and downtime.
- APAC is expected to primarily dominate the market during the forecast period as the region's growing sales of electric vehicles can be attributed to increased adaptation of green vehicles in developing countries such as China.
- Due to strict standards and higher adaptation of new and green technologies, North America and Western Europe are expected to have high growth potential.
Top 10 Companies Operating in the Global PTC Air Heater Market:
European Thermodynamics Limited (UK), MAHLE Group (Germany), Backer Heating Technologies (US), Pelonis Technologies, Inc. (US), GSI Technologies (US), Backer Hotwatt (US), Watlow (US), DBK David + Baader GmbH (Germany), and Genesis Automation (US) among others.
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The global market is further segmented into type and application:
Type (Revenue, USD Million; 2018–2028)
- PTC Air Heater
- PTC Air Heater
- Others
Application (Revenue, USD Million; 2018–2028)
- Automotive
- Appliance
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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