Asia-Pacific Bus HVAC Market exhibiting a CAGR of 5.7% & estimated to reach $2,308.8 million by 2031

Asia-Pacific Bus HVAC Market

By type, the manual segment leads the market during the forecast period.

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.”

— Allied Market Research

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, May 28, 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, development of intelligent systems in buses, and increase in demand for electric buses drive the growth of the Asia-Pacific Bus HVAC market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: 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.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

MAHLE GmbH, Denso Corporation, Mobile Climate Control, Inc., Internacional Hispacold, S.A., Konvekta AG, Webasto Group, Valeo, Trane Technologies Plc, Eberspacher Gruppe GmbH & Co. KG, Zhengzhou Guchen Industry Co., Ltd.

Prime determinants of growth

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.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A22827

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 market.

For instance, in April 2021, Japanese bus manufacturer Hino Motors announced that it developed a new air conditioning system for its hybrid buses that uses a natural refrigerant called R1234ze, which has a very low global warming potential. The system was developed in collaboration with Denso Corporation and Nihon Thermal Consulting Co., Ltd. Moreover, the fluctuating price of raw materials used in making bus HVAC systems and adverse effect of HVAC systems on a range of automobiles are the challenging factors for the growth of the Asia-Pacific bus HVAC market.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/c0be0336b0e10551783dc407ad59ef3d

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.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on country, rest of the Asia-Pacific is expected to held the highest market share in terms of revenue in 2021, accounting for 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 tax regulation and construct fuel economy standard in the countries. However, India is expected to portray the largest CAGR of 14.6% from 2022 to 2031 and is projected to maintain its lead position during the forecast period, owing to the adoption of advanced vehicles and fuel technology which is expected to boost the other demand for the HVAC market in the country.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

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.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Automotive Air Filters Market - https://www.alliedmarketresearch.com/automotive-air-filters-market-A13811

Vehicle Exhaust Hose Market - https://www.alliedmarketresearch.com/vehicle-exhaust-hose-market-A17189

Solar Boat Market - https://www.alliedmarketresearch.com/solar-boat-market-A10180

Tire Bead Wire Market - https://www.alliedmarketresearch.com/tire-bead-wire-market

David Correa
Allied Market Research
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