Press release
Automotive Heater Core Market to expand at a CAGR of 2.9% by 2028
Expansion and innovation-driven efforts of major players in the automotive heater core market are likely to create lucrative avenues for the market growth. Advent of technologies, such as incorporation of ceramic positive temperature coefficient (PTC) components as core elements of heater core have resulted in silent operations and reduced energy waste in heating systems of vehicles. A moderate 2.9% CAGR has been foreseen for the automotive heater core market by a recent Fact.MR report.
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With the advent of hybrid and electric passenger cars, automotive heating systems are perceiving continuous developments. Heater core in vehicles are on the cusp of becoming a component of the past, as manufacturers focus on reversing refrigerant flow via air-conditioning systems for transmuting the evaporator core into condenser. This would further provide ample heat for passenger compartments.
Aftermarket to Pave Lucrative Opportunities for Automotive Core Heater Market
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.
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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.
Automotive Heater Core Perceives Rise in Demand from Electric Vehicles
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.
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