Heavy Commercial Vehicle HVAC Market To Hit $2.56 Billion By 2027, According To Allied Market Research


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Heavy Commercial Vehicle HVAC Market

OREGAON, PORTLAND, UNITED STATES , July 9, 2024 /EINPresswire / -- According to the report published by Allied market Research, the global heavy commercial vehicle HVAC market generated $1.15 billion in 2010, and is projected to reach $2.56 billion by 2027, witnessing a CAGR of 7.04% from 2021 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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HVAC systems are being used by truck and bus fleet owners to provide a safe and comfortable journey to its drivers and passengers. In addition, heavy commercial vehicle operators are upgrading their vehicles due to the increased demand for luxury and safety automotive technologies across the world. The automatic HVAC systems are the most preferred category by heavy commercial vehicle owner and the segment is expected to grow at a significant rate owing to the regulations and laws being implemented by governments across the world to increase vehicle safety.

Rise in demand for thermal system and automatic climate control features in heavy vehicles, development of Intelligent Transport System and growing demand for electric buses provide impetus to the growth of the global HCV HVAC market. However, high installation and maintenance cost hamper the growth of the market . On the other hand, development of eco-friendly refrigerants, increased demand for HVAC systems from developing nations, and augmented safety & comfort through the adoption of HVAC systems offer lucrative opportunities for expansion of the heavy commercial vehicle HVAC market.

Based on type, the automatic segment was the largest market in 2010, grabbing more than half of the global market share and would lead the trail through 2027. The same is expected to manifest the fastest CAGR of 8.22% during the forecast period.

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In terms of revenue, 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 heavy commercial vehicle HVAC market. U.S. dominated the heavy commercial vehicle HVAC market share in 2020 and is expected to grow at a significant rate during the forecast period. HVAC systems are increasingly being used to provide safe and comfortable cabin experience for the drivers in major North American economies.

Factors such as increase 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 heavy commercial vehicle HVAC market . However, high installation and maintenance cost hamper the growth of the heavy commercial vehicle 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 expansion of the growth of the global heavy commercial vehicle HVAC market. Moreover, the fluctuating price of raw materials used in making automotive HVAC systems and adverse effect of HVAC systems on a range of the automobile are the challenging factors for the growth of the global heavy commercial vehicle HVAC market.

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Key players operating in the global heavy commercial vehicle 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., ProAir LLC, Sanden Holdings Corporation, Sidwal Refrigeration Industries Pvt. Ltd., Subros Limited, SUTRAK Corporation, Trane Technologies PLC, TransACNR, Valeo, and Webasto Group.

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David Correa
Allied Market Research
+1 800-792-5285
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