According to a new report published by Allied Market Research, 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.
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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.
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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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.
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.
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