Dublin, July 21, 2025 (GLOBE NEWSWIRE) -- The "High Voltage Electric Heaters Market Opportunities and Strategies to 2034" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the high voltage electric heater market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region. 
The global high voltage electric heater market reached a value of nearly $2.58 billion in 2024, having grown at a compound annual growth rate (CAGR) of 12.95% since 2019. The market is expected to grow from $2.58 billion in 2024 to $6.59 billion in 2029 at a rate of 20.62%. The market is then expected to grow at a CAGR of 19.91% from 2029 and reach $16.33 billion in 2034.
Growth in the historic period resulted from the increase in demand for electric vehicles, expansion of EV charging infrastructure and growing focus on energy efficiency. Factors that negatively affected growth in the historic period were stringent safety regulations and competition from alternative heating technologies like heat pumps.
Going forward, government initiatives, growth in renewable energy integration and surge in battery production will drive the growth. Factor that could hinder the growth of the high voltage electric heater market in the future include limited availability of skilled personnel and technical expertise and limited availability of raw materials for heating elements.
Asia-Pacific was the largest region in the high voltage electric heater market, accounting for 46.63% or $1.2 billion of the total in 2024. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the high voltage electric heater market will be Asia-Pacific and South America where growth will be at CAGRs of 23.37% and 20.22% respectively. These will be followed by Middle East and Western Europe where the markets are expected to grow at CAGRs of 19.00% and 18.49% respectively.
The global high voltage electric heater market is concentrated, with a small number of large players dominating the market. The top ten competitors in the market made up to 45.77% of the total market in 2023. Continental AG was the largest competitor with a 6.53% share of the market, followed by Eberspacher Gruppe GmbH & Co. KG with 6.13%, LG Electronics with 5.64%, BorgWarner Inc. with 5.33%, Valeo SA. with 4.82%, Chromalox Inc. with 4.42%, Mitsubishi Heavy Industries Ltd. with 3.01%, Webasto SE with 2.79%, Woory Corporation. with 2.67% and Watlow Ltd. with 54.23%.
The high voltage electric heater market is segmented by type into air heaters, coolant heaters and battery heaters. The air heaters market was the largest segment of the high voltage electric heater market segmented by type, accounting for 41.19% or $1.06 billion of the total in 2024. Going forward, the battery heaters segment is expected to be the fastest growing segment in the high voltage electric heater market segmented by type, at a CAGR of 22.68% during 2024-2029.
The high voltage electric heater market is segmented by heating potential into up to 4 KW, 4-7 KW and above 7 KW. The up to 4 KW market was the largest segment of the high voltage electric heater market segmented by heating potential, accounting for 45.08% or $1.16 billion of the total in 2024. Going forward, the 4-7 KW segment is expected to be the fastest growing segment in the high voltage electric heater market segmented by heating potential, at a CAGR of 24.23% during 2024-2029.
The high voltage electric heater market is segmented by vehicle into passenger cars, LCVs and HCVs. The passenger cars market was the largest segment of the high voltage electric heater market segmented by vehicle, accounting for 54.96% or $1.41 billion of the total in 2024. Going forward, the passenger cars segment is expected to be the fastest growing segment in the high voltage electric heater market segmented by vehicle, at a CAGR of 22.22% during 2024-2029.
The high voltage electric heater market is segmented by vehicle technology into battery electric vehicles, plug-in hybrid electric vehicles and hybrid electric vehicles. The battery electric vehicles market was the largest segment of the high voltage electric heater market segmented by vehicle technology, accounting for 52.21% or $1.34 billion of the total in 2024. Going forward, the battery electric vehicles segment is expected to be the fastest growing segment in the high voltage electric heater market segmented by vehicle technology, at a CAGR of 23.21% during 2024-2029.
The top opportunities in the high voltage electric heater market segmented by type will arise in the battery heaters segment, which will gain $1.85 billion of global annual sales by 2029. The top opportunities in the high voltage electric heater market segmented by heating potential will arise in the Up to 4 KW segment, which will gain $1.54 billion of global annual sales by 2029. The top opportunities in the high voltage electric heater market segmented by vehicle will arise in the passenger cars segment, which will gain $2.44 billion of global annual sales by 2029. The top opportunities in the high voltage electric heater market segmented by vehicle technology will arise in the battery electric vehicles segment, which will gain $2.47 billion of global annual sales by 2029. The high voltage electric heater market size will gain the most in China at $ 1.71 billion.
Market-trend-based strategies for the high voltage electric heater market include developing innovative products such as the high-voltage electric heater to enhance heating efficiency and energy management, developing supply contracts to support the adoption and efficiency of electric vehicles and developing innovative advancements such as high-voltage coolant heaters to enhance thermal management efficiency. Player-adopted strategies in the high voltage electric heater market include focus on expanding its manufacturing capabilities through innovative product launch.
To take advantage of the opportunities, the analyst recommends the high voltage electric heater to focus on innovation and energy efficiency, focus on developing supply contracts for electric vehicle thermal management solutions, focus on advancing thermal management solutions for electric vehicles, focus on the fastest growing battery heaters market segment, expand in emerging markets, continue to focus on developed markets, focus on optimizing pricing strategies to improve competitiveness, focus on targeted digital marketing strategies, focus on partnerships with industry influencers and focus on targeting key end-user segments for high voltage electric heaters.
Major Market Trends
- Advancing High-Voltage Electric Heaters for Efficient EV Heating Solutions
- Expanding Supply Contracts to Enhance Thermal Management in Electric Vehicles
- Revolutionizing EV Heating With Advanced High-Voltage Coolant Heater Technology
Key Mergers and Acquisitions
- Hankook & Company Group Acquired Hanon Systems
Markets Covered:
- Type: Air Heaters; Coolant Heaters; Battery Heaters
- Heating Potential: Up to 4 Kilowatts (KW); 4-7 Kilowatts (KW); Above 7 Kilowatts (KW)
- Vehicle: Passenger Cars; LCVs; HCVs
- Vehicle Technology: Battery Electric Vehicles; Plug - in Hybrid Electric Vehicles; Hybrid Electric Vehicles
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 336 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $2.58 Billion |
| Forecasted Market Value (USD) by 2034 | $16.33 Billion |
| Compound Annual Growth Rate | 20.3% |
| Regions Covered | Global |
Companies Featured
- Continental AG
- Eberspacher Gruppe GmbH & Co. KG
- LG Electronics
- BorgWarner Inc.
- Valeo SA
- Chromalox Inc.
- Mitsubishi Heavy Industries Ltd.
- Webasto SE
- Woory Corporation
- Watlow Ltd.
- Kawai Corporation
- Nexthermal
- Temprite
- Accutherm International
- Shanghai Xinye Electronic Co., Ltd
- Marelli Holdings Co., Ltd
- Sanden Corporation
- Anhui Ankai Automobile Co., Ltd.
- Sanyou Corporation Limited
- Jahwa Electronics
- KUS Technology Corporation
- Huagong Tech
- Fenwal Controls of Japan, Ltd.
- Akinsun Heat Co. Ltd
- Toyota Industries Corporation
- Hongfa Technology Co Ltd
- Fujitsu Limited
- Hanon Systems
- Hyundai Mobis
- Taiwan Power Company
- Tianjin Santroll Electric Automobile Technology Co., Ltd
- DBK Group
- Mahle GmbH
- Nibe Element Company Ltd
- Smiths Group plc
- EXHEAT Ltd
- S&A Manufacturing Ltd
- Elmatic (Cardiff) Ltd
- Ulanet
- Sigma Thermal
- Sinus-Jevi Electric Heating B.V.
- Kuhlmann Electro-Heat A/S
- Delphi Technologies
- GlenDimplex
- Modul-System
- Robert Bosch GmbH
- Voltempo
- Arteco
- Marelli
- TI Fluid Systems
- Skoda Auto
- Valeo
- Infineon Technologies
- Durex Industries
- Tempco
- Prestone Products
- Modine Manufacturing Company
- BorgWarner
- Chromalox
- OMEGA Engineering Inc
- Hotstart Thermal Management
- Tutco Heating Solutions Group
- Carrar
- Gentherm Incorporated
- Eltherm GmbH
- Heatrod Elements
For more information about this report visit https://www.researchandmarkets.com/r/4ouq3f
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
