Market Size Of Asia-Pacific Bus HVAC Industry Booming To Reach $2,308.8 Million by 2031, Registering At a CAGR of 5.7%

Asia-Pacific Bus HVAC Market

By vehicle type, the school buses segment leads the market during the forecast period.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, March 14, 2024 /EINPresswire.com/ — Asia-Pacific Bus HVAC Market by Type (Automatic, and Manual), by Vehicle Type (Intercity Buses, Coach Buses, School Buses and Transit Buses), by Sales channel (OEM, and Aftermarket), and by Input (Engine Powered HVAC, and Electric Powered HVAC): Opportunity Analysis and Industry Forecast, 2022-2032”. According to the report, The Market Size Of Asia-Pacific Bus HVAC Market 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%.

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.

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.

𝐓𝐨𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐛𝐮𝐬 𝐇𝐕𝐀𝐂 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞 𝐃𝐞𝐧𝐬𝐨 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐄𝐛𝐞𝐫𝐬𝐩𝐚𝐜𝐡𝐞𝐫 𝐆𝐫𝐮𝐩𝐩𝐞 𝐆𝐦𝐛𝐇 & 𝐂𝐨. 𝐊𝐆, 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐜𝐢𝐨𝐧𝐚𝐥 𝐇𝐢𝐬𝐩𝐚𝐜𝐨𝐥𝐝, 𝐒.𝐀., 𝐊𝐨𝐧𝐯𝐞𝐤𝐭𝐚 𝐀𝐆, 𝐌𝐀𝐇𝐋𝐄 𝐆𝐦𝐛𝐇, 𝐌𝐨𝐛𝐢𝐥𝐞 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐂𝐨𝐧𝐭𝐫𝐨𝐥, 𝐈𝐧𝐜., 𝐓𝐫𝐚𝐧𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐏𝐥𝐜, 𝐕𝐚𝐥𝐞𝐨, 𝐖𝐞𝐛𝐚𝐬𝐭𝐨 𝐆𝐫𝐨𝐮𝐩 𝐚𝐧𝐝 𝐙𝐡𝐞𝐧𝐠𝐳𝐡𝐨𝐮 𝐆𝐮𝐜𝐡𝐞𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐂𝐨., 𝐋𝐭𝐝.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/asia-pacific-bus-hvac-market/purchase-options

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.

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.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A22827

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 share 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.

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.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Body Control Modules (BCM) Market – https://www.prnewswire.com/news-releases/body-control-module-market-to-reach-30-13-billion-by-2027-at-3-1-cagr-allied-market-research-301035780.html

Automotive HMI Market – https://www.globenewswire.com/en/news-release/2019/05/13/1822506/0/en/Global-Automotive-HMI-Market-Projected-to-Attain-33-5-Bn-by-2025-at-11-1-CAGR-Says-AMR.html

Tire Pressure Monitoring System Market – https://www.globenewswire.com/en/news-release/2022/10/03/2526454/0/en/Tire-Pressure-Monitoring-System-Market-to-Reach-12-32-Billion-by-2031-Allied-Market-Research.html#:~:text=Portland%2C%20OR%2C%20Oct.,8.6%25%20from%202022%20to%202031.

Automotive Switches Market – https://www.globenewswire.com/news-release/2021/04/28/2218763/0/en/Automotive-Switches-Market-Worth-43-26-Billion-by-2027-AMR.html

David Correa
Allied Market Research
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