REPORT OVERVIEW
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The global PTC Heaters market size was 1594.2 million in 2022. As per our research, the market is expected to reach USD 4619.3 million by 2028, exhibiting a CAGR of 19.4% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with PTC Heaters experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
PTC stands for Positive Temperature Coefficient. PTC heaters are a type of heating element that utilize the positive temperature coefficient effect of certain materials. These heaters are commonly used for heating applications in various industries and consumer products. PTC heaters are made from materials with a positive temperature coefficient, which means their electrical resistance increases as the temperature rises. This effect allows PTC heaters to self-regulate their temperature.
When a PTC heater is connected to a power source, the electrical current passing through it generates heat. As the temperature of the PTC heater rises, its resistance also increases, causing the current flow and heat output to decrease. This self-regulating feature helps prevent overheating and eliminates the need for separate temperature control mechanisms.
COVID-19 IMPACT: Increased Demand for Medical Devices to Boost Demand Significantly
COVID-19 had a life changing impact globally. The PTC Heaters market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for PTC Heaters experienced an increased demand.
The pandemic led to disruptions in global supply chains due to lockdowns, travel restrictions, and factory closures. This disruption affected the production and distribution of PTC heaters, resulting in delays in manufacturing, shortage of raw materials, and logistical challenges. The pandemic led to changes in manufacturing strategies, including diversification of supply chains and increased localization. Manufacturers of PTC heaters had to adapt to these shifts and address changing market dynamics.
PTC heaters are used in medical devices such as ventilators, incubators, and temperature-controlled equipment. The pandemic created a surge in demand for these devices, leading to increased production of PTC heaters specifically for medical applications. With the shift to remote work and increased time spent at home during lockdowns, there was a higher demand for home heating solutions. PTC heaters, with their compact size, energy efficiency, and safety features, became popular choices for personal and small-space heating applications. The market is anticipated to boost the PTC Heaters market share following the pandemic.
LATEST TRENDS
"Energy Efficiency Improvements to Broaden Market Growth"
There has been a continued focus on enhancing the energy efficiency of heating systems, including PTC heaters. Manufacturers are exploring ways to optimize the design and materials used in PTC heaters to maximize heat output while minimizing power consumption. Researchers and manufacturers are investing in developing advanced thermal management techniques for PTC heaters. This involves improving heat dissipation mechanisms, optimizing heat transfer within the device, and incorporating heat sinks or other cooling solutions to enhance overall performance and reliability.
The trend of integrating heating systems with smart technologies and the Internet of Things (IoT) has extended to PTC heaters as well. This includes features such as remote control, scheduling, and connectivity with smart home systems, allowing users to control and monitor their heating devices more conveniently. While PTC heaters are already known for their safety features, there is ongoing research to further improve safety aspects. This includes developing additional safeguards against overheating, incorporating fail-safe mechanisms, and enhancing the reliability of self-regulation. These latest developments are anticipated to boost the PTC Heaters market share.
SEGMENTATION
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- By Type
Based on type, the market is divided into PTC air heaters, PTC heat conductors and convection heaters.
PTC air heaters holds a major share of the global market.
- By Application
Based on application, the market is bifurcated into electric car, household appliances, commercial and industrial equipment, and others.
Electric car as application holds a major share of the global market.
DRIVING FACTORS
"Energy Efficiency to Boost Market Share"
PTC heaters are known for their energy efficiency compared to traditional heating elements. The positive temperature coefficient effect allows them to self-regulate, reducing power consumption when the desired temperature is reached. As energy efficiency and sustainability become increasingly important, the use of PTC heaters helps conserve energy and reduce operating costs.
"Quick Response Time to Boost Market Size"
PTC heaters have a relatively fast response time, reaching the desired temperature quickly. This characteristic makes them suitable for applications that require rapid heating, such as in automotive defrost systems, instant water heaters, and industrial processes that demand swift temperature changes. These factors are anticipated to drive the PTC heaters market share.
RESTRAINING FACTORS
"Limited Temperature Range to Hamper Market Share"
PTC heaters have a specific operating temperature range determined by the properties of the positive temperature coefficient material used. This range might not be suitable for high-temperature applications that require heating beyond the capabilities of PTC heaters. In such cases, alternative heating technologies may be preferred. The factors are anticipated to hinder the growth of the PTC heaters market share.
REGIONAL INSIGHTS
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"Asia-Pacific Dominates the PTC Heaters Market "
APAC is the major shareholder for the PTC heaters market share. This region is known for their advanced electronics and electrical industries, which drive the production of various heating systems and components. Additionally, the growing consumer electronics market and automotive industry in the region contribute to the demand for PTC heaters. Companies in this region are involved in the production and development of advanced heating technologies, including PTC heaters. The presence of major industries like automotive, aerospace, and consumer electronics drives the demand for PTC heaters. North America is the second major shareholder for the PTC heaters market share.
KEY INDUSTRY PLAYERS
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Eberspächer [Germany]
- Backer Group [Sweden]
- Suzhou New Electronics Co., Ltd. [China]
- Zhenjiang Dongfang Electric Heating Technology Co., Ltd [China]
- MAHLE [Germany]
- DBK Group [Germany]
- Shanghai XINPA [China]
- Shanghai Xinye Electronics [China]
- HGTECH [China]
- Mountain Source [China]
- Sharing Electronics [China]
- GMN [Germany]
- Headway [China]
- Chongqing Shiji Jingxin Industry [China]
- STEGO [Germany]
- Calienté [U.S.]
- Xingchen Electric Heater [China]
- KLC [China]
- Beno Electric [China]
- ROTFIL [Turkey]
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 1594.2 Million in 2022 |
Market Size Value By |
US$ 4619.3 Million by 2028 |
Growth Rate |
CAGR of 19.4% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types and Application |
Frequently Asked Questions
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What value is the market expected to touch by 2028?
The global PTC heaters market is expected to reach USD 4619.3 million by 2028.
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What CAGR is the market expected to exhibit by 2028?
The market is expected to exhibit a CAGR of 19.4% by 2028.
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Which are the driving factors of the market?
Energy Efficiency and Quick Response Time are drivers of this market.
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Which are the top companies operating in the market?
Eberspächer, Backer Group, Suzhou New Electronics Co., Ltd., Zhenjiang Dongfang Electric Heating Technology Co., Ltd, MAHLE, DBK Group, Shanghai XINPA, Shanghai Xinye Electronics, HGTECH, Mountain Source, Sharing Electronics, GMN, Headway, Chongqing Shiji Jingxin Industry, STEGO, Calienté, Xingchen Electric Heater, KLC, Beno Electric and ROTFIL are key companies operating in the market.
