The global bus HVAC market revenue was around US$ 1.03 billion in 2022 and is estimated to reach US$ 1.86 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2023 to 2031.
Bus HVAC refers to the integrated systems installed in buses to control the humidity, and temperature, and ensure proper ventilation. These systems consist of different components such as evaporators, compressors, blowers, condensers, and controls.
Market Driving Factors
The surge in demand for thermal systems and automatic climate control characteristics in heavy vehicles is estimated to drive the market growth. This is mainly owing to the fleet owners having surged their concentration on installing HVAC systems to acquire thermal comfort in the heavy commercial vehicle cabin. Thus, the HVAC system is installed to ensure that the passenger, driver, and cargo, have an ambient temperature environment. As a result, HVAC not only helps to regulate temperature conditions but also saves fuel and boosts air conditioning efficiency.
A rise in demand for electric buses is predicted to propel the market. This is mainly due to the increase in demand for high-performance, fuel-efficient, less-emission buses, and strict government rules and regulations regarding vehicle emissions. In addition, Germany, the U.S., China, and France have enacted stringent government emission regulations and rules, requiring automobile manufacturers to adopt trendy technology to tackle high emission levels in vehicles.
The development of intelligent transport systems is the main factor in boosting market growth. Intelligent Transportation Systems (ITS) were devised in response to the increase in requirements for services related to different modes of transportation and traffic management. As a result, the ITS allows users to be sufficiently informed and to utilize the transportation network in a more coordinated, safer, and smarter manner. Furthermore, the adoption of sophisticated technologies facilitates the integration of cutting-edge automotive technology, such as climate control and automatic HVAC systems into heavy commercial vehicles, to support the infrastructure of intelligent transportation networks.
The fluctuating cost of raw materials utilized in creating automotive HVAC systems and the negative effect of HVAC systems on power output and vehicle performance are the restraining factors for market growth.
Regional Analysis
North America dominated the market in terms of the largest shares and is estimated to maintain its dominance. This can be majorly attributed to the increased demand for energy-efficient solutions, strict environmental regulations, and the existence of established HVAC system suppliers and bus manufacturers.
Asia-Pacific is estimated to dominate the market in terms of the growth rate. This is primarily due to the increase in the adoption of HVAC systems by transportation firms to boost customer experience. In addition, HVAC systems are increasingly being utilized to provide a comfortable cabin experience and safety for drivers. Furthermore, bus operators are upgrading their vehicles owing to a surge in demand for luxury and protection automotive technologies in the region.
Segmentation Insights
In terms of input insights, the engine-powered HVAC segment dominates the market in terms of revenue. This is due to the lower price and simple installation procedure of the engine-powered HVAC systems. As a result, the adoption of electric drivetrains by bus manufacturers and the growth of high-capacity energy storage solutions offers a lucrative growth possibility for electric-powered HVAC systems.
Prominent Companies
Segmentation Outline
The global bus HVAC market segmentation focuses on the Sales Channel, Input, Type, Vehicle Type, and Region.
By Sales Channel
By Input
By Type
By Vehicle Type
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL BUS HVAC MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: BUS HVAC MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL BUS HVAC MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL BUS HVAC MARKET, BY SALES CHANNEL
5.1 OVERVIEW
5.2 OEM
5.3 AFTERMARKET
6 GLOBAL BUS HVAC MARKET, BY INPUT
6.1 OVERVIEW
6.2 ENGINE POWERED HVAC
6.3 ELECTRIC POWERED HVAC
7 GLOBAL BUS HVAC MARKET, BY TYPE
7.1 OVERVIEW
7.2 AUTOMATIC
7.3 MANUAL
8 GLOBAL BUS HVAC MARKET, BY VEHICLE TYPE
8.1 OVERVIEW
8.2 INTERCITY BUSES
8.3 COACH BUSES
8.4 SCHOOL BUSES
8.5 TRANSIT BUSES
9 GLOBAL BUS HVAC MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL BUS HVAC MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 INTERNACIONAL HISPACOLD SA
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 SUTRAK CORPORATION
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 COACHAIR PTY LTD
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 VALEO
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 ZHENGZHOU GUCHEN INDUSTRY CO., LTD
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 TRANE TECHNOLOGIES PLC
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 HONEYWELL INTERNATIONAL INC
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 EBERSPÄCHER GRUPPE GMBH & CO. KG
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 SUBROS LIMITED
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 WEBASTO GROUP
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 GRAYSON THERMAL SYSTEMS
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 KONVEKTA AG
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 SIDWAL REFRIGERATION INDUSTRIES PVT LTD
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 SANDEN HOLDINGS CORPORATION
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 MAHLE GMBH
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.16 MOBILE CLIMATE CONTROL INC.
11.16.1 OVERVIEW
11.16.2 FINANCIAL PERFORMANCE
11.16.3 PRODUCT OUTLOOK
11.16.4 KEY DEVELOPMENTS
11.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.17 DENSO CORPORATION
11.17.1 OVERVIEW
11.17.2 FINANCIAL PERFORMANCE
11.17.3 PRODUCT OUTLOOK
11.17.4 KEY DEVELOPMENTS
11.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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