Enjoy complimentary customisation on priority with our Enterprise License!
The automotive parking heater market size is estimated to grow at a CAGR of 5.81% between 2023 and 2028. The market size is forecast to increase by USD 3,138.1 million. The growth of the market depends on several factors such as the emergence of aftermarket DIY preheaters, the increase in demand for luxury cars, and the increasing demand for parking heaters for remote starting of engines.
This automotive parking heater market report extensively covers market segmentation by end-user (OEMs and aftermarket), product type (air automotive parking heater and water automotive parking heater), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
To learn more about this report, View Report Sample
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in demand for luxury cars is the key factor driving market growth. Luxury vehicles are synonymous with premium features and improved comfort, making parking heaters an essential part of this luxury experience. Luxury car manufacturers, such as Mercedes-Benz, BMW, Audi, and Lexus, often include parking heaters as standard or an optional feature in their high-end vehicle models. These heaters offer sophisticated climate control, ensuring that the cabin is warm and comfortable, especially in cold weather.
In addition, customers who purchase luxury cars prioritize comfort and convenience, and parking heaters cater to these preferences. Emerging markets, particularly those like China, India, and countries in the Middle East, are witnessing a surge in demand for luxury vehicles. Furthermore, as the country, particularly the northern parts, experiences colder seasons, the appeal of parking heaters will grow, further driving the growth of the market during the forecast period.
Increasing demand for preheaters in electric vehicles is the key factor driving market growth. Due to the ability to meet the particular needs and requirements of EV owners, preheaters are increasingly becoming a popular solution in combination with parking heaters. One of the key drivers for this trend is the desire for enhanced cabin comfort in EVs, particularly in regions with cold climates. Unlike traditional IC engine vehicles that generate waste heat, which is used for cabin heating, EVs rely solely on electricity, which impacts their driving range in cold weather.
Moreover, preheaters are designed to be energy-efficient, ensuring cabin comfort without depleting the EV battery charge extremely. Therefore, as the global adoption of electric vehicles continues to rise, driven by environmental concerns and government incentives, the demand for preheaters in EVs is anticipated to grow significantly, thereby driving the growth of the market during the forecast period.
High initial costs associated with automotive parking heaters is a challenge that affects market growth. One of the key reasons for the increased initial costs is the technology and components that are incorporated into manufacturing automotive parking heaters. These systems incorporate advanced heating elements and control units and need to be integrated with the vehicle's electrical and heating systems. Hence, the manufacturing and assembly of parking heaters can be complex and costly, leading to higher retail prices.
For example, a high-quality parking heater that is suitable for a mid-sized vehicle can cost several hundred to over a thousand dollars, not including the installation fees. This can be a significant expense for consumers, especially in price-sensitive markets. Hence, the high initial costs associated with automotive parking heaters can create a major challenge that will impede market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Parking Heater Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The OEMs segment is estimated to witness significant growth during the forecast period. Even though parking heaters are crucial for maintaining the temperature inside a vehicle, preheating the engine before starting the automobile is equally essential. Nevertheless, this feature is specific to the luxury vehicles market as the manufacturers of these vehicles offer this as a factory-fitted system, especially in cold regions.
Get a glance at the market contribution of various segments View the PDF Sample
The OEMs segment was the largest segment and was valued at USD 6,060.03 million in 2018. Luxury vehicles are commonly equipped with cutting-edge technologies that deliver improved comfort, safety, and ride quality. A rising number of OEMs offer innovations in the luxury cars segment, which will be passed on to mid- and entry-level vehicles. The low price sensitivity of the target customer base drives the OEMs to experiment with new technologies without stressing their commercial viability. Hence, boosting demand for luxury vehicles will propel the growth of the OEMs segment of the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 58% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US and Canada are two of the main contributors to the regional automotive parking heater market due to the extreme climatic conditions and anti-idling laws. Extreme winters in the US and Canada drive the automotive parking heater market in the Americas. North America is an important region in the global automotive parking heater market, due to high demand from the aftermarket segment.
Moreover, the aftermarket in the US and Canada mainly includes all the secondary markets, except the OEMs and distributors. In addition, the suppliers and dealers in the automotive aftermarket offer various products and accessories. Automotive parking heaters are highly popular in the aftermarket because of their functions and features. There is a higher demand for automotive parking heaters in the aftermarket than in the new vehicles segment. Hence, such factors are expected to drive market growth in this region during the forecast period.
In 2020, the outbreak of COVID-19 had a negative impact on the automotive parking heater market in North America. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Several players are adopting different strategies to increase the sales of their products. Adopting a digital strategy will have a positive impact on the sales of automotive parts and components, which is anticipated to drive the growth of the regional automotive parking heater market during the forecast period.
The automotive parking heater market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
|
Automotive Parking Heater Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
169 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.81% |
|
Market Growth 2024-2028 |
USD 3,138.1 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
5.18 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 58% |
|
Key countries |
US, Canada, Germany, UK, and Sweden |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Calix AB, Changzhou Kangpuru Automotive Air Conditioner Co. Ltd., DBK David plus Baader GmbH, DEFA AS, DK Smith International Trade Inc., Eberspacher Gruppe GmbH and Co.KG, Frost Thermo King Sp. z o.o., Hebei Nanfeng Automobile Equipment Group Co. Ltd., Heilongjiang LF Bros Technology Co. Ltd., HOTSTART Inc., Hubei Parking Heater Merchandise Co. Ltd., JP China Trade Intl Co. Ltd., JUNYIZE, Phillips and Temro Industries, Pro West Refrigeration Ltd., Proheat Inc., Truma Geratetechnik GmbH and Co. KG, Victor Industries Ltd., Webasto SE, and Warmda LLC |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
