Consumers are increasingly spending on more comfort and luxury features in vehicles, propelling OEMs to integrate high-quality climate control systems. Manufacturers are investing in R&D to offer product differentiation in their products such as compact and lightweight HVAC systems. For instance, Denso developed a novel COA HVAC based on a new blower structure that offers a reduction in heat required by the system by 30%, reducing size and power consumption by 20%. This enables the company to offer HVAC systems to its clients, providing both environmental performance and energy efficiency. In addition, the rise in concerns in consumers regarding indoor air quality are further creating several growth prospects for the market.
The global Bus HVAC market is segmented into type, vehicle type, sales channel, input, vehicle type by propulsion, and region. By type, it is further divided into automatic, and manual.
By vehicle type, the Bus HVAC market is segmented into intercity buses that are subdivided into 9m, 10m, and 12m, coach buses that are further segmented into 9m, 10m, and 12m, school buses that are further segmented into 9m, 10m, and 12m, and transit buses that are further segmented into 9m, 10m, and 12m. By sales channel, the market is segmented into original equipment manufacturers, and aftermarket. By input, it is segmented into engine powered HVAC and electric powered HVAC. By vehicle type by propulsion, the Bus HVAC market is segmented into intercity buses that are further divided into IC engine, hybrid/electric, and fuel cell; coach buses that are further segmented into IC engine, hybrid/electric, and fuel cell; school buses that are further divided into IC engine, hybrid/electric, and fuel cell, and transit buses that are further segmented into IC engine, hybrid/electric, and fuel cell. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bus hvac market analysis from 2021 to 2031 to identify the prevailing bus hvac market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bus hvac market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global bus hvac market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Sales Channel
- OEM
- Aftermarket
By Input
- Engine Powered HVAC
- Electric Powered HVAC
By Type
- Automatic
- Manual
By Vehicle Type
- Intercity Buses
- Coach Buses
- School Buses
- Transit buses
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Coachair Pty Ltd.
- Denso Corporation
- Eberspächer Gruppe GmbH & Co. KG
- Grayson Thermal Systems
- Honeywell International Inc.
- Internacional Hispacold SA
- Konvekta AG
- MAHLE GmbH
- Mobile Climate Control, Inc.
- Sanden Holdings Corporation
- Subros Limited
- SUTRAK Corporation
- Trane Technologies Plc
- Valeo
- Webasto Group
- Zhengzhou Guchen Industry Co., Ltd.
- Sidwal Refrigeration Industries Pvt. Ltd
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Table of Contents
Executive Summary
According to the report, titled, “Bus HVAC Market," the bus hvac market was valued at $968.10 million in 2021, and is estimated to reach $1.83 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.Presently, Asia-Pacific leads the market, followed by Europe, North America, and LAMEA. The rise in adoption of HVAC systems by transportation companies to augment customer experience is set to propel the growth of the bus HVAC market. HVAC systems are increasingly being used to provide safe and comfortable cabin experience for the drivers. In addition, bus operators are upgrading their vehicles due to increased demand for luxury and safety automotive technologies across the world. The automatic HVAC systems are the most preferred HVAC system type by bus owner and the segment is anticipated to witness growth at a considerable rate, owing to regulations and laws being implemented by governments across the world to increase vehicle safety.
By input, the bus HVAC market is segmented as engine-powered HVAC and electric-powered HVAC. In 2020, the engine-powered HVAC segment dominated the input segment, owing to low cost and simple installation procedure of the engine powered HVAC systems. The adoption of electric drivetrain by bus manufacturers and the development of high-capacity energy storage solutions provides a lucrative growth opportunity for the electric-powered HVAC systems during the forecast period.
Factors such as growth in demand for thermal system and automatic climate control features in heavy vehicles, development of Intelligent Transport System and increase in demand for electric buses, accelerate the growth of the global bus HVAC market. However, high installation and maintenance cost hamper the growth of the bus HVAC market. Conversely, development of eco-friendly refrigerants, increase in demand for HVAC systems from developing nations, and augmented safety & comfort through the adoption of HVAC systems are expected to provide lucrative opportunities for the growth of the global bus HVAC market. Moreover, fluctuating price of raw materials used in making automotive HVAC systems and adverse effect of HVAC systems on vehicle performance and power output are the challenging factors for the growth of the global bus HVAC market.
Key players operating in the global bus HVAC market include Coachair Pty Ltd., Denso Corporation, Eberspächer Gruppe GmbH & Co. KG, Grayson Thermal Systems, Zhengzhou Guchen Industry Co., Ltd., Internacional Hispacold Sa, Japan Climate Systems Corporation, Konvekta AG, MAHLE GmbH, Mobile Climate Control, Inc., Sanden Holdings Corporation, Subros Limited, SUTRAK Corporation, Trane Technologies PLC, Valeo, and Webasto Group.
COVID-19 Impact Analysis
COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. On the business side, the automotive sector is one of the considerably hit sectors. Following the pattern witnessed in countries where COVID-19 spread earlier, lockdown measures and other restrictions have impacted the automotive sector considerably. Furthermore, coronavirus has introduced unexpected challenges within the automotive sector. Moreover, nationwide lockdowns disrupted the supply-chain as several manufacturing facilities across the globe had to partially or fully shut down their operations. However, with the relaxation of lockdown measures and the consequent opening of markets across the world, the demand for bus HVAC is anticipated to grow considerably in the near future.Key Findings of the Study
- By vehicle type, the intercity buses segment is expected to register a significant growth during the forecast period.
- By type, the automatic segment is anticipated to exhibit significant growth in the near future.
- By sales channel, the Original Equipment Manufacturers segment is anticipated to exhibit significant growth in the near future.
- By input, the electric powered HVAC segment is anticipated to exhibit significant growth in the near future.
- By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
- Key players operating in the global bus HVAC market include Coachair Pty Ltd., Denso Corporation, Eberspächer Gruppe GmbH & Co. KG, Grayson Thermal Systems, Zhengzhou Guchen Industry Co., Ltd., Internacional Hispacold Sa, Japan Climate Systems Corporation, Konvekta AG, MAHLE GmbH, Mobile Climate Control, Inc., Sanden Holdings Corporation, Subros Limited, SUTRAK Corporation, Trane Technologies PLC, Valeo, and Webasto Group.
Companies Mentioned
- Coachair Pty Ltd.
- Denso Corporation
- Eberspächer Gruppe GmbH & Co. Kg
- Grayson Thermal Systems
- Honeywell International Inc.
- Internacional Hispacold Sa
- Konvekta AG
- Mahle GmbH
- Mobile Climate Control, Inc.
- Sanden Holdings Corporation
- Subros Limited
- Sutrak Corporation
- Trane Technologies plc
- Valeo
- Webasto Group
- Zhengzhou Guchen Industry Co. Ltd.
- Sidwal Refrigeration Industries Pvt. Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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