Asia-Pacific Bus HVAC Market Poised For Rapid Growth, Forecasted To Reach US$  2,308.8 Million By 2031
Asia-Pacific Bus HVAC Market Poised For Rapid Growth, Forecasted To Reach US$  2,308.8 Million By 2031 . (MENAFN - EIN Presswire) 
  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 ...
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(MENAFN- EIN Presswire)

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 / -- The Asia-Pacific Bus HVAC 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: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 :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 includeValeo, 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 AGGet Customized Reports with you're Requirements: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 timeframeInquiry Before Buying:KEY FINDINGS OF THE STUDYBy 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:Train Control Management System Market -Automotive Intelligence Park Assist System Market -Motorcycle Airbag Market -Off-Highway Electric Vehicle Market -

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2024-11-22
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(MENAFN - EIN Presswire) 
  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 ...
Asia-Pacific Bus HVAC Market Poised For Rapid Growth, Forecasted To Reach US$  2,308.8 Million By 2031