(MENAFN- EIN Presswire)
Asia-Pacific Bus HVAC Market
By vehicle type, the school buses segment leads the market during the forecast period.
The engine powered HVAC segment incurs the higher Asia-Pacific bus HVAC industry segment.” - Allied Market Research
WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, March 14, 2024 /EINPresswire / -- Asia-Pacific Bus HVAC Market by Type (Automatic, and Manual), by Vehicle Type (Intercity Buses, Coach Buses, School Buses and Transit Buses), by Sales channel (OEM, and Aftermarket), and by Input (Engine Powered HVAC, and Electric Powered HVAC): Opportunity Analysis and Industry Forecast, 2022-2032”. According to the report, The Market Size Of Asia-Pacific Bus HVAC Market was valued at $1,332.1 million in 2021, and is projected to reach $2,308.8 million by 2031, registering a CAGR of 5.7%.
Request Sample Pages Now:
The Asia-Pacific bus HVAC (heating, ventilation, and air conditioning) market refers to the market for HVAC systems installed in buses in the Asia-Pacific region. The demand for bus HVAC systems in the Asia-Pacific region is driven by several factors, including the surge in urbanization and increase in need for public transportation, which has led to an increase in the number of buses on the roads. The market is also driven by technological advancements in HVAC systems, which have made them more efficient, cost-effective, and environment friendly. The adoption of advanced materials, such as lightweight materials and advanced refrigerants, has also contributed to the growth of the market.
Prime determinants of growth
Increase in demand for thermal system and automatic climate control features in buses, increase in demand for electric buses, and development of intelligent systems in buses boost the growth of the Asia-Pacific Bus HVAC market . However, High installation and maintenance cost, and environmental effects of refrigerants used in HVAC system are anticipated to hinder market growth. On the other hand, development of eco-friendly refrigerants, augmented safety & comfort through the adoption of HVAC systems, and increase in demand for HVAC systems from developing nations provide a remarkable growth opportunity for the market players operating in the market.
Top Market Players:
The key market players in the Asia-Pacific bus HVAC market are Denso Corporation, Eberspacher Gruppe GmbH & Co. KG, Internacional Hispacold, S.A., Konvekta AG, MAHLE GmbH, Mobile Climate Control, Inc., Trane Technologies Plc, Valeo, Webasto Group and Zhengzhou Guchen Industry Co., Ltd.
Procure Complete Research Report Now:
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 expansion of the market.
For instance, in April 2021, Japanese bus manufacturer Hino Motors announced that it developed a new air conditioning system for its hybrid buses that uses a natural refrigerant called R1234ze, which has a very low global warming potential. The system was developed in collaboration with Denso Corporation and Nihon Thermal Consulting Co., Ltd. Moreover, the fluctuating price of raw materials used in making bus HVAC systems and adverse effect of HVAC systems on a range of automobiles are the challenging factors for the growth of the Asia-Pacific bus HVAC market.
Based on country, rest of the Asia-Pacific is expected to held the highest market share in terms of revenue in 2021, accounting for four-fifth of the Asia-Pacific bus HVAC market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to the tax regulation and construct fuel economy standard in the countries. However, India is expected to portray the largest CAGR of 14.6% from 2022 to 2031 and is projected to maintain its lead position during the forecast period, owing to the adoption of advanced vehicles and fuel technology which is expected to boost the other demand for the HVAC market in the country.
Interested to Procure the Research Report? Inquire Before Buying:
By type, the market is categorized into automatic and manual. The manual segment garnered the highest market share in 2021 and is projected to lead the market within the forecast timeframe. By vehicle type, the Asia-Pacific bus HVAC market share is categorized as intercity buses, coach buses, school buses, and transit buses. Among these segments coach buses segment captured the significant market share as compared to other segments. By sales channel, the market is categorized as original equipment manufacturer, and aftermarket. The original equipment manufacturer segment dominated in the sales channel segment garnered the highest market share in 2021 and is projected to lead the market within the forecast timeframe.
KEY FINDINGS OF THE STUDY
By type, the manual segment leads the market during the forecast period.
By vehicle type, the school buses segment leads the market during the forecast period.
By sales channel, the original equipment manufacturer segment is expected to grow at a lucrative growth rate during the forecast period (2022-2031).
By input, the engine powered HVAC segment leads the market during the forecast period.
India is anticipated to exhibit the highest CAGR during the forecast period.
Check out more related studies published by AMR Research:
Body Control Modules (BCM) Market -
Automotive HMI Market -
Tire Pressure Monitoring System Market - #:~:text=Portland%2C%20OR%2C%20Oct.,8.6%25%20from%202022%20to%202031 .
Automotive Switches Market -
David Correa
Allied Market Research
+ +1 5038946022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
MENAFN14032024003118003196ID1107975284
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.