Rockville, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Expanding at a CAGR of 3.5% from 2023 to 2033, the global Automotive Heater Core Market is forecasted to reach a valuation of US$ 10.76 billion by the end of 2033. This study by Fact.MR, a market research and competitive intelligence provider, suggests that automotive heater core manufacturers need to focus on designing and developing new products, especially for electric vehicles.
The Asia Pacific region is forecasted to account for high automotive heater core sales over the next ten years and this can be ascribed to the availability of cheap labor and supportive government initiatives to boost manufacturing activity. Asian economies of Japan, China, India, and South Korea are estimated to offer highly attractive business opportunities for automotive heater core suppliers in the future owing to the presence of key automotive companies and rising sales of commercial as well as passenger vehicles.
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Key Segments of Automotive Heater Core Industry Research Report
| By Vehicle Type | By Material | By Engine Type | By Sales Channel |
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As of now, passenger vehicles lead global automotive heater core market revenue generation; however, use in commercial vehicles is also estimated to catch up by the end of 2033.
Key Takeaways from Market Study
- The global automotive heater core market stands at a valuation of US$ 7.63 billion in 2023.
- Worldwide demand for automotive heater cores is projected to rise at a CAGR of 3.5% from 2023 to 2033.
- The global market is forecasted to reach US$ 10.76 billion by 2033-end.
- Increasing automotive production, rising disposable income of people, growing urbanization, the launch of new vehicles, and advancements in automotive heating technologies are key market drivers.
- Product recalls and reduced vehicle efficiency due to the use of certain heater cores are projected to be key constraints that could trouble companies across the study period.
- Passenger cars are estimated to maintain hegemony over the global automotive heater core demand through 2033.
- The global automotive heater core market is led by high demand from the Asia Pacific region at present.
- Sales of automotive heater cores via aftermarket channels are forecasted to account for a prominent market share by the end of 2033.
“Development of novel automotive heater core elements for EVs will play a pivotal role in determining the future of several market players,” says a Fact.MR analyst
Winning Strategy
Top automotive heater core manufacturers are investing in the R&D of novel heater core elements that enable efficient heating in electric vehicles without compromising their range in cold winters. Automotive heater core suppliers are also projected to focus on the expansion of their distribution networks by opting for strategies such as partnerships and mergers.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 10.76 Billion |
| Growth Rate (2023-2033) | 3.5% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 126 Tables |
| No. of Figures | 96 Figures |
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Competitive Landscape
Prominent manufacturers of automotive heater cores are prioritizing product innovation and expediting the introduction of new offerings to outperform their competitors.
- Valeo, a distinguished automotive supplier committed to delivering inventive solutions for intelligent mobility, specializes in PTC heaters designed for high-efficiency engine vehicles.
- In April 2023, Eberspaecher, a renowned supplier of automotive components based in Germany, announced that it had commenced the construction of a new production facility to manufacture heaters for electric vehicles and plug-in hybrid cars in Bulgaria. The plant spanning 17,000 square meters is projected to start operations in early 2024.
- In April 2022, General Motors (GM), a leading American automotive manufacturer filed for a patent for a new type of radiant heating system. The new system is claimed to be more energy efficient as compared to traditional HVAC systems and proves specifically useful for electric vehicles.
Key Companies Profiled
- Valeo SA
- Denso Corporation
- Spectra Premium
- Delphi Automotive
- Mahle GmbH
- ACDelco Corporation
- Calsonic Kansei Corporation
- Sanden Holdings Corporation
- Nissen A/S
- Brassworks
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global automotive heater core market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on material (aluminum, copper/brass), width (4 to 7 inches, 7.1 to 10 inches, above 10 inches), inlet/outlet type (0.75 inch, 0.62 inch, 0.56 Inch, O ring, flange, other inlets/outlets), vehicle type (passenger cars, LCVs, HCVs, electric vehicles), engine type (petrol, diesel, CNG, electric), and sales channel (OEMs, aftermarket), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Automotive Aftermarket Appearance Chemicals Market: The global automotive aftermarket appearance chemicals market abbreviated as AAACs by Fact.MR, is estimated to be valued at US$ 4.6 billion in 2023 and to grow at a CAGR of 4.5% to reach a valuation of US$ 7.1 billion by the end of 2033.
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