- It said that the high voltage electric heater is directly dependent on the sale of electric vehicles across the globe
- OEMs will have advantage of first mover to increase their market share in the concerned market
The global high voltage electric heater market size is expected to reach $7.12 billion by 2027 according to a new study by Polaris Market Research. It said that the high voltage electric heater is directly dependent on the sale of electric vehicles across the globe.
To increase the adoption of thermal management in the passenger cars and other electric vehicles is to increase the number of charging stations. One approach is to install private charging points in buildings, condominium, public places, and driveways, which is already started in developed nations.
Automotive OEMs are investing in high potential heaters for electric vehicles
As per the report, charging infrastructure is mostly depending on local issues, such as national policy frameworks, regulations, deployments, fund mobilisations, public and private investments, and human resource to maintain that system in place. Government fiscal policies in the form of tax reliefs, fund allocation, and financial incentives, significantly accelerate the adoption of electric vehicles.
The report adds, “Automotive OEMs are investing in high potential heaters for electric vehicles. Though the size of the High Potential EV market is not yet large, OEMs are using the dynamic conditions, which are mainly driven by the political agenda. For example, in the current market environment of France, players making use of government financial incentives to bolster EV sales.”
OEMs will have advantage of first mover to increase their market share in the concerned market. It adds that high velocity is a key success factor for significant growth of High Voltage Electric Heater. It leads to investment in sales staff training, charging infrastructure and EV after-sales management, which leads the demand for high voltage electric heater.
