New York, NY -- (SBWire) -- 05/06/2019 --The vital factors driving the growth of this market are the increased levels of safety and lower operating cost and downtime.
PTC Heaters Market Size – USD 7.27 Billion in 2018, PTC Heaters Market Growth - CAGR of 7.8% between 2019 and 2026, PTC Heaters Market Trends – Reduced LED prices and high LED penetration
The PTC Heaters Market is expected to grow from USD 3.41 Billion in 2018 to USD 7.27 Billion by 2026, at a CAGR of 7.9%. PTC heaters 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 heaters also have a high heating capacity and are quick to operate. Therefore, the PTC Heater market is expected to boost during the forecast period.
Increasing demand for electric vehicles (EVs) is the most important factor that will drive the future demand for the PTC heaters market.
The significant players in the market are 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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Further key findings from the report suggest
- The PTC Heaters Market is expected to grow from USD 3.41 Billion in 2018 to USD 7.27 Billion by 2026, at a CAGR of 7.9%. PTC heaters 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 heaters 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.
- Honeycomb PTC 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 heaters 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.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, applications and regional analysis.
Type (Revenue, USD Million; 2016–2026)
- Honeycomb PTC Heater
- PTC Air Heater
- Others
Application (Revenue, USD Million; 2016–2026)
- Automotive
- Appliance
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
o U.S.
- Europe
o UK
o France
- Asia Pacific
o China
o India
o Japan
- MEA
- Latin America
o Brazil
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/ptc-heaters-market
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PTC Heaters Market Worth USD 7.27 Billion by 2026 : Industry Top Players Are: MAHLE, Pelonis Tech, GSI Tech, Backer Hotwatt
PTC Heaters Market Size – USD 7.27 Billion in 2018, PTC Heaters Market Growth - CAGR of 7.8% between 2019 and 2026, PTC Heaters PTC Heaters Market Trends – Reduced LED prices and high LED penetration