automotive parking heaters market REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global automotive parking heaters market size was USD 24 million in 2022 and is projected to touch USD 28 million by 2028, exhibiting a CAGR of 2.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The global market is experiencing significant growth driven by essential factors. The rising demand for vehicle comfort and convenience, especially in colder regions, is propelling market expansion. Parking heaters play a crucial role in providing pre-heated cabins and ensuring engine warmth during cold weather, enhancing driver and passenger comfort. Industry leaders are dedicated to improving the efficiency, reliability, and eco-friendliness of these heaters to meet the evolving needs of automotive users, contributing to the positive momentum in the market.
Technological advancements are transforming the dynamics of the market. Innovations in heater design, fuel efficiency, and remote control capabilities are driving market growth. Automotive enthusiasts and consumers seek automotive parking heaters that offer rapid heating, reduced emissions, and smartphone connectivity for convenient operation. As the automotive industry adapts to evolving consumer preferences and environmental regulations, the significance of advanced parking heating solutions continues to rise. This alignment with technological progress and a commitment to providing efficient and environmentally friendly heating solutions contribute to the expansion of the market.
Covid-19 Impact: Market Growth Restrained by COVID-19 due to Supply Chain Disruptions & Lockdown Restrictions
The impact of COVID-19 on the market was primarily negative. The pandemic disrupted supply chains, led to reduced vehicle production, and caused economic uncertainties, which resulted in decreased demand for automotive parking heaters. Travel restrictions and lockdown measures also limited the use of vehicles, further affecting the market negatively. While some segments, like essential services and commercial vehicles, continued to demand parking heaters, it couldn't offset the overall adverse impact on the market. Therefore, COVID-19 had an overall negative effect on the market.
LATEST TRENDS
"Electrification Emerges as a Prominent Trend in the Market"
A notable trend in the market is the increasing adoption of electric heating solutions. As the automotive industry shifts toward electric and hybrid vehicles, the demand for electric parking heaters has risen significantly. These heaters offer several advantages, including reduced emissions, quieter operation, and compatibility with electric vehicle (EV) power sources. Additionally, electric parking heaters can be integrated into EVs to provide cabin pre-heating without relying on the vehicle's internal combustion engine. This trend reflects the industry's commitment to sustainability and aligns with the growing preference for eco-friendly automotive solutions.
automotive parking heaters market SEGMENTATION
-
Request a Free Sample to learn more about this report
- By Type
Based on type the global market can be categorized into Diesel, & Gasoline.
- By Application
Based on application the global market can be categorized into OEMs, & Aftermarket.
DRIVING FACTORS
"Increasing Cold Climate Demands to Drive Parking Heater Adoption"
One of the key driving factors in the automotive parking heaters market growth is the demand generated by cold climates. In regions where temperatures frequently drop below freezing, parking heaters are considered essential for ensuring comfortable and functional vehicles. These heaters provide cabin warmth and engine pre-heating, enhancing vehicle usability in harsh winter conditions. The need for reliable and efficient automotive parking heaters in cold climate regions significantly propels the market as consumers seek effective solutions to combat the challenges of low temperatures.
"Growing Focus on Passenger Comfort to Boosts the Market Sales"
Another significant driving factor is the increasing emphasis on passenger comfort and convenience. Consumers prioritize comfortable journeys, and parking heaters play a vital role in delivering a cosy interior environment, particularly during chilly weather. As consumers seek enhanced travel experiences, automotive parking heaters become an appealing feature for vehicles, contributing to market growth. Automotive manufacturers recognize the importance of passenger comfort in their designs, further fuelling the demand for parking heaters to create warm and inviting cabins for passengers.
RESTRAINING FACTOR
"Environmental Concerns to Pose a Restraint on Market Growth"
One restraining factor in the market is the growing concern over environmental impact. As sustainability becomes a top priority in the automotive industry, the emissions and fuel consumption associated with traditional fuel-powered parking heaters pose challenges. Regulatory restrictions and consumer preferences for eco-friendly vehicles are driving a shift towards cleaner alternatives. While electric parking heaters offer a solution, the transition away from conventional heating systems can be slow, hampering market growth. Addressing environmental concerns and improving the eco-friendliness of parking heaters will be crucial to overcome this restraint and adapt to changing industry norms.
automotive parking heaters market REGIONAL INSIGHTS
-
Request a Free Sample to learn more about this report
"Asia Pacific to Dominate the Market owing to the Region’s Extensive Automobile Production"
Asia Pacific has emerged as the most dominant region in the automotive parking heaters market share, driven by several factors. The region's extensive automobile production, particularly in countries like China and India, has led to high demand for parking heaters as consumers seek comfort and convenience in their vehicles. Additionally, the prevalence of cold climates in some parts of Asia Pacific, such as northern China and Russia's Far East, further fuels the adoption of automotive parking heaters to combat low temperatures. The combination of a robust automotive industry and the need for cold weather solutions has established Asia Pacific as the dominant force in the market.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market Landscape through Innovation"
Key industry players wield significant influence in the automotive parking heaters market. These companies are at the forefront of innovation, continuously developing advanced heating solutions that cater to diverse consumer demands. Their extensive product portfolios, which include a range of parking heaters for various vehicle types, contribute to market growth. Furthermore, these industry leaders often establish strategic partnerships with automotive manufacturers, ensuring their products are integrated into vehicles from leading brands. Their commitment to enhancing product efficiency, reducing emissions, and embracing technological advancements significantly impacts the market by setting quality standards and driving innovation in parking heater solutions.
List of Market Players Profiled
- Eberspacher (Germany)
- Digades (China)
- Webasto (Germany)
- Victor Industries (U.S.)
- Frost-Thermo King (U.S.)
- Pro-West Refrigeration (U.S.)
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 24 Million in 2022 |
Market Size Value By |
US$ 28 Million by 2028 |
Growth Rate |
CAGR of 2.6% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the global automotive parking heaters market expected to touch by 2028?
The global automotive parking heaters market is expected to reach USD 28 million by 2028.
-
What CAGR is the global automotive parking heaters market expected to exhibit by 2028?
The global automotive parking heaters market is expected to exhibit a CAGR of 2.6% by 2028.
-
Which are the driving factors of the automotive parking heaters market?
Increasing Cold Climate Demands, and Growing Focus on Passenger Comfort are some of the driving factors of the automotive parking heaters market.
-
Which are the key players functioning in the automotive parking heaters market?
Eberspacher, Digades, Webasto, Victor Industries, & Frost-Thermo King are some of the key players functioning in the automotive parking heaters market.
