Asia-Pacific Bus HVAC Market
Asia-Pacific Bus HVAC Market
Increase in demand for thermal system and automatic climate control features in buses.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 22, 2024 /EINPresswire.com/ -- The 𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐁𝐮𝐬 𝐇𝐕𝐀𝐂 𝐌𝐚𝐫𝐤𝐞𝐭 size 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%.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.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 246 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A22827
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.
Based on type, the manual segment held the highest market share in 2021, accounting for nearly three- fourths of the Asia-Pacific bus HVAC market revenue and is estimated to maintain its leadership status throughout the forecast period, as manual HVAC systems are reliable and efficient. Owners of bus prefer using cost-effective technology to increase and maintain the comfort of the drivers and passengers travelling by bus. Several bus manufacturers like Tata, Isuzu and others having an operation in Asian-Pacific countries offers buses with manual HVAC systems. However, the Automatic segment is projected to manifest the highest CAGR of 6.6% from 2022 to 2031, owning to rules aimed at improving driver comfort in cabins are boosting the incorporation of HVAC systems in vehicles.
𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/asia-pacific-bus-hvac-market/purchase-options
Based on sales channel, the OEM segment accounted for the largest share in 2021, contributing for more than 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 surge in need for enhanced cabin comfort in the commercial industry has resulted in an increase in HVAC. Furthermore, government initiatives to improve the safety of commercial vehicles are expected to promote the growth of the OEM bus HVAC market during the predicted period. However, the aftermarket segment is expected to portray the largest CAGR of 7.9% from 2022 to 2031 and is projected to maintain its lead position during the forecast period. This is owing to the advanced aftermarket HVAC solutions with reduced power consumption, which is driving the growth of the Asia-Pacific HVAC system aftermarket.
In addition, increase in demand for thermal system and automatic climate control features in buses, development of intelligent transport system and increase in demand for electric buses accelerate the growth of the Asia-Pacific bus HVAC market. However, high installation and maintenance cost and environmental effects of refrigerants used in HVAC system hamper the growth of the bus HVAC market.
𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞
𝐕𝐚𝐥𝐞𝐨, 𝐖𝐞𝐛𝐚𝐬𝐭𝐨 𝐆𝐫𝐨𝐮𝐩, 𝐌𝐀𝐇𝐋𝐄 𝐆𝐦𝐛𝐇, 𝐙𝐡𝐞𝐧𝐠𝐳𝐡𝐨𝐮 𝐆𝐮𝐜𝐡𝐞𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐂𝐨., 𝐋𝐭𝐝., 𝐃𝐞𝐧𝐬𝐨 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐓𝐫𝐚𝐧𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐏𝐥𝐜, 𝐄𝐛𝐞𝐫𝐬𝐩𝐚𝐜𝐡𝐞𝐫 𝐆𝐫𝐮𝐩𝐩𝐞 𝐆𝐦𝐛𝐇 & 𝐂𝐨. 𝐊𝐆, 𝐌𝐨𝐛𝐢𝐥𝐞 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐂𝐨𝐧𝐭𝐫𝐨𝐥, 𝐈𝐧𝐜., 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐜𝐢𝐨𝐧𝐚𝐥 𝐇𝐢𝐬𝐩𝐚𝐜𝐨𝐥𝐝, 𝐒.𝐀., 𝐊𝐨𝐧𝐯𝐞𝐤𝐭𝐚 𝐀𝐆
𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A22827
Based on input, the engine powered HVAC segment held the highest market share in terms of revenue in 2021, accounting for more than three-fourth of the Asia-Pacific bus HVAC market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to their low cost and ease of installation. However, the electric powered segment is expected to portray the largest CAGR of 6.5% from 2022 to 2031 and is projected to maintain its lead position during the forecast period, owing to adoption of electric-powered HVAC systems in Asia-Pacific has been aided by the electrification of commercial vehicle fleets.
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 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
𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A22827
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.
𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
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David Correa
Allied Market Research
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