Portland, OR, Sept. 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global bus HVAC market generated $0.97 billion in 2021, and is projected to reach $1.83 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Bus HVAC Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.97 billion |
| Market Size in 2031 | $1.83 billion |
| CAGR | 6.8% |
| No. of Pages in Report | 340 |
| Segments covered | Type, Vehicle Type, Sales Channel, Input, And Region |
| Drivers | Increase in the standard of living |
| Surge in demand for fuel-efficient buses | |
| Opportunities | Availability of stringent rules and regulation on the emissions of vehicles |
| Increase in development and adoption of automated air-conditioning units | |
| Restrains | Extortionate cost of manufacturing components |
| Limited to specific consumers |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a negative impact on the growth of the global bus HVAC market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of bus HVAC, which adversely impacted its demand during the COVID-19 pandemic.
- Besides, there was a significant decline in the demand for heavy vehicles during the pandemic, as the transportation of goods and materials was limited due to stringent lockdown restrictions. Thus, people across the globe were required to stay indoors, and hence the demand for large and heavy public busses plummeted exponentially.
- The automotive sector is one of the hardest hit sectors in terms of business, but 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.
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The report offers a detailed segmentation of the global bus HVAC market based on type, vehicle type, sales channel, input, and region.
Based on type, automatic segment held the largest market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 7.5% during the forecast period. The report also analyses other segments of the market such as manual.
Based on sales channel, the OEM segment held the dominating market share in 2021, holding around third-fourth of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.9% during the forecast period.
Based on vehicle type, the transit buses segment held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The intercity buses segment, on the other hand, is expected to cite the fastest CAGR of 7.6% during the forecast period.
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Based on region, the market across the Asia-Pacific region held the largest market share in 2021, garnering nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 8.1% during the forecast period.
The key players analyzed in the global bus HVAC market report 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.
The report analyzes these key players in the global bus HVAC market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolios, business performance, and operating segments by prominent players in the market.
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