Electric Vehicle Heating System Market Scope and Size by 2031
The electric vehicle heating system market is expected to register a CAGR of 6.5% during 2023–2031. There is an increasing trend of electrification, automated driving, and connected vehicles driving the market for connected car devices.
Electric Vehicle Heating System Market Analysis
The demand for EV battery heating systems is boosted by the increasing awareness of the impact of cold temperatures on battery performance and the need to improve the driving range and efficiency of electric vehicles under adverse weather conditions. Hence global EV battery heating system market is gaining traction at present and will continue in the future.
Electric Vehicle Heating System Market Overview
Due to the rise adoption of electric vehicles globally, specifically in regions with cold climates, there is a need for effective battery thermal management. These important functions are making them integral components of electric vehicle technology, contributing to the widespread adoption of electric vehicles. Manufacturers in the market are investing to bring technological advancements aimed at developing more energy-efficient and cost-effective heating solutions. Manufacturers of battery heat management systems are putting emphasis the development of reliable compact, energy-efficient, lightweight, and easily maintainable systems. There is ongoing trend among electric vehicle heating system manufacturers towards integrating technology to create shared thermal management systems that is suitable for multiple applications, aiming for enhanced efficiency. With the increasing adoption of advanced technologies in lithium-ion batteries and evolving advancements in battery cooling systems. These developments are expected to open up new opportunities for growth and innovation in the electric vehicle battery thermal management system market.
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Electric Vehicle Heating System Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Electric Vehicle Heating System Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Electric Vehicle Heating System Market Drivers and Opportunities
The increasing expansion of the electric vehicle market
Manufacturers are extensively investing in the development of improved battery heat management systems to meet the changing demands of the electric vehicle customers. Many countries have announced plans to phase out gasoline and diesel cars, fuelling the transition to electric vehicles along with regulatory measures aimed at promoting electric vehicle resulted in adoption and creation of additional opportunities for players in the market such as innovative thermal management solutions.
Rising Awareness Enhancing Battery Efficiency
The rising awareness of the impact of low temperature on battery efficiency is offering lucrative demand for electric vehicle battery heating systems to address range and performance issues in cold climate, creates opportunities for the EV heating system manufacturers to increase production and generate revenue.
Electric Vehicle Heating System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the electric vehicle heating system market analysis are product type and end users.
- Based on product type, the electric vehicle heating system market is divided into PTC Heater and Heat Pump Heater.
- On the basis of end user, the market is divided into HEV and BEV.
Electric Vehicle Heating System Market Share Analysis by Geography
Electric Vehicle Heating System Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering electric vehicle heating system market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level. Also, the report covers PEST analysis, which involves the study of major factors that influence the electric vehicle heating system market in these regions.
Electric Vehicle Heating System Market Report Scope
Electric Vehicle Heating System Market News and Recent Developments
The electric vehicle heating system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the electric vehicle heating system market are listed below:
- Nissan Motor Co., Ltd. (Nissan) and Honda Motor Co., Ltd. (Honda) announced that the two companies have signed a memorandum of understanding under which they will begin a feasibility study of a strategic partnership in the fields of vehicle electrification and intelligence. To accelerate efforts toward carbon neutrality and zero traffic-accident fatalities, it will be essential to strengthen environmental and electrification technologies as well as software development (Source: Honda Motor Co., Ltd., Company Website, January 2024)
Electric Vehicle Heating System Market Report Coverage and Deliverables
The “Electric Vehicle Heating System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Electric vehicle heating system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Electric vehicle heating system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Electric vehicle heating system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the electric vehicle heating system market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
What are the deliverable formats of the electric vehicle heating system market report?
There is an increasing trend of electrification, automated driving, and connected vehicles driving the market for heating systems.
The global electric vehicle heating system market is expected to grow at a CAGR of 6.5% during the forecast period 2023 - 2031.
The increasing expansion of the electric vehicle market is highly significant in electric vehicle heating system market growth.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Electric Vehicle Heating System Market - By Product Type
1.3.2 Electric Vehicle Heating System Market - By End Users
1.3.3 Electric Vehicle Heating System Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRIC VEHICLE HEATING SYSTEM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. ELECTRIC VEHICLE HEATING SYSTEM MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ELECTRIC VEHICLE HEATING SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRIC VEHICLE HEATING SYSTEM - GLOBAL MARKET OVERVIEW
6.2. ELECTRIC VEHICLE HEATING SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTRIC VEHICLE HEATING SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. PTC HEATER
7.3.1. Overview
7.3.2. PTC Heater Market Forecast and Analysis
7.4. HEAT PUMP HEATER
7.4.1. Overview
7.4.2. Heat Pump Heater Market Forecast and Analysis
8. ELECTRIC VEHICLE HEATING SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - END USERS
8.1. OVERVIEW
8.2. END USERS MARKET FORECASTS AND ANALYSIS
8.3. HEV
8.3.1. Overview
8.3.2. HEV Market Forecast and Analysis
8.4. BEV
8.4.1. Overview
8.4.2. BEV Market Forecast and Analysis
9. ELECTRIC VEHICLE HEATING SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Electric Vehicle Heating System Market Overview
9.1.2 North America Electric Vehicle Heating System Market Forecasts and Analysis
9.1.3 North America Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.1.4 North America Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.1.5 North America Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.1.5.1 United States Electric Vehicle Heating System Market
9.1.5.1.1 United States Electric Vehicle Heating System Market by Product Type
9.1.5.1.2 United States Electric Vehicle Heating System Market by End Users
9.1.5.2 Canada Electric Vehicle Heating System Market
9.1.5.2.1 Canada Electric Vehicle Heating System Market by Product Type
9.1.5.2.2 Canada Electric Vehicle Heating System Market by End Users
9.1.5.3 Mexico Electric Vehicle Heating System Market
9.1.5.3.1 Mexico Electric Vehicle Heating System Market by Product Type
9.1.5.3.2 Mexico Electric Vehicle Heating System Market by End Users
9.2. EUROPE
9.2.1 Europe Electric Vehicle Heating System Market Overview
9.2.2 Europe Electric Vehicle Heating System Market Forecasts and Analysis
9.2.3 Europe Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.2.4 Europe Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.2.5 Europe Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Electric Vehicle Heating System Market
9.2.5.1.1 Germany Electric Vehicle Heating System Market by Product Type
9.2.5.1.2 Germany Electric Vehicle Heating System Market by End Users
9.2.5.2 France Electric Vehicle Heating System Market
9.2.5.2.1 France Electric Vehicle Heating System Market by Product Type
9.2.5.2.2 France Electric Vehicle Heating System Market by End Users
9.2.5.3 Italy Electric Vehicle Heating System Market
9.2.5.3.1 Italy Electric Vehicle Heating System Market by Product Type
9.2.5.3.2 Italy Electric Vehicle Heating System Market by End Users
9.2.5.4 United Kingdom Electric Vehicle Heating System Market
9.2.5.4.1 United Kingdom Electric Vehicle Heating System Market by Product Type
9.2.5.4.2 United Kingdom Electric Vehicle Heating System Market by End Users
9.2.5.5 Russia Electric Vehicle Heating System Market
9.2.5.5.1 Russia Electric Vehicle Heating System Market by Product Type
9.2.5.5.2 Russia Electric Vehicle Heating System Market by End Users
9.2.5.6 Rest of Europe Electric Vehicle Heating System Market
9.2.5.6.1 Rest of Europe Electric Vehicle Heating System Market by Product Type
9.2.5.6.2 Rest of Europe Electric Vehicle Heating System Market by End Users
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Electric Vehicle Heating System Market Overview
9.3.2 Asia-Pacific Electric Vehicle Heating System Market Forecasts and Analysis
9.3.3 Asia-Pacific Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.3.5 Asia-Pacific Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Electric Vehicle Heating System Market
9.3.5.1.1 Australia Electric Vehicle Heating System Market by Product Type
9.3.5.1.2 Australia Electric Vehicle Heating System Market by End Users
9.3.5.2 China Electric Vehicle Heating System Market
9.3.5.2.1 China Electric Vehicle Heating System Market by Product Type
9.3.5.2.2 China Electric Vehicle Heating System Market by End Users
9.3.5.3 India Electric Vehicle Heating System Market
9.3.5.3.1 India Electric Vehicle Heating System Market by Product Type
9.3.5.3.2 India Electric Vehicle Heating System Market by End Users
9.3.5.4 Japan Electric Vehicle Heating System Market
9.3.5.4.1 Japan Electric Vehicle Heating System Market by Product Type
9.3.5.4.2 Japan Electric Vehicle Heating System Market by End Users
9.3.5.5 South Korea Electric Vehicle Heating System Market
9.3.5.5.1 South Korea Electric Vehicle Heating System Market by Product Type
9.3.5.5.2 South Korea Electric Vehicle Heating System Market by End Users
9.3.5.6 Rest of Asia-Pacific Electric Vehicle Heating System Market
9.3.5.6.1 Rest of Asia-Pacific Electric Vehicle Heating System Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Electric Vehicle Heating System Market by End Users
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Electric Vehicle Heating System Market Overview
9.4.2 Middle East and Africa Electric Vehicle Heating System Market Forecasts and Analysis
9.4.3 Middle East and Africa Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.4.5 Middle East and Africa Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Electric Vehicle Heating System Market
9.4.5.1.1 South Africa Electric Vehicle Heating System Market by Product Type
9.4.5.1.2 South Africa Electric Vehicle Heating System Market by End Users
9.4.5.2 Saudi Arabia Electric Vehicle Heating System Market
9.4.5.2.1 Saudi Arabia Electric Vehicle Heating System Market by Product Type
9.4.5.2.2 Saudi Arabia Electric Vehicle Heating System Market by End Users
9.4.5.3 U.A.E Electric Vehicle Heating System Market
9.4.5.3.1 U.A.E Electric Vehicle Heating System Market by Product Type
9.4.5.3.2 U.A.E Electric Vehicle Heating System Market by End Users
9.4.5.4 Rest of Middle East and Africa Electric Vehicle Heating System Market
9.4.5.4.1 Rest of Middle East and Africa Electric Vehicle Heating System Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Electric Vehicle Heating System Market by End Users
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Electric Vehicle Heating System Market Overview
9.5.2 South and Central America Electric Vehicle Heating System Market Forecasts and Analysis
9.5.3 South and Central America Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.5.5 South and Central America Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Electric Vehicle Heating System Market
9.5.5.1.1 Brazil Electric Vehicle Heating System Market by Product Type
9.5.5.1.2 Brazil Electric Vehicle Heating System Market by End Users
9.5.5.2 Argentina Electric Vehicle Heating System Market
9.5.5.2.1 Argentina Electric Vehicle Heating System Market by Product Type
9.5.5.2.2 Argentina Electric Vehicle Heating System Market by End Users
9.5.5.3 Rest of South and Central America Electric Vehicle Heating System Market
9.5.5.3.1 Rest of South and Central America Electric Vehicle Heating System Market by Product Type
9.5.5.3.2 Rest of South and Central America Electric Vehicle Heating System Market by End Users
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ELECTRIC VEHICLE HEATING SYSTEM MARKET, KEY COMPANY PROFILES
11.1. BORGWARNER INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. EBERSPäCHER
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. MITSUBISHI HEAVY INDUSTRIES SYSTEMS, LTD
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. DENSO CORPORATION
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. VALEO
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. HANON SYSTEMS
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MAHLE GMBH
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ROBERT BOSCH GMBH
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. BorgWarner Inc.
2. Eberspächer
3. Mitsubishi Heavy Industries SYSTEMS, LTD
4. DENSO CORPORATION
5. Valeo
6. Hanon Systems
7. MAHLE GmbH
8. Robert Bosch GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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