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Bus HVAC Market | Increasing Demand, Current Growth Rate, Outlook and Forecast to 2027
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COVID-19 scenario analysis:
• COVID-19 has turned into a global crisis, evolving at an unprecedented speed and scale.
• The locked industries have impacted heavily on manufacturing and supply chains globally.
• The company is suffering a major loss as the loans taken from banks are usually backed by sales of vehicles.
• Besides, the expansion of companies would freeze and investments would reduce.
• Moreover, the spread of novel coronavirus owing to the usage of air-conditioning was published on the Centers for Disease Control and Prevention (CDC) website. This, in turn, is affecting the market of bus HVAC.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The rise in manufacturing and an increase in consumer demand for the air-conditioned bus is driving the market growth. Besides, rising consumer spending on comfort and luxury features are proliferating the market for bus HVAC. Additionally, growing concerns of bus passengers regarding indoor air quality are propelling the market growth. Moreover, growing long-distance traveler’s preference has shifted towards HVAC installed bus. However, high maintenance costs and a reduction in fuel efficiency due to bus HVAC are hampering the market growth. Furthermore, increasing investment in research and development activities is fueling market growth.
The Bus HVAC market trends are as follows:
Eco-friendly refrigerants in bus HVAC to flourish the market
The auto industry is under constant pressure to reduce emissions. Additionally, stringent government norms and emission standards are challenging the auto industry to find alternatives to minimize emission levels. Moreover, this trend is witnessed in the bus HVAC market too. For instance, in 2019, Eberspaecher launched an emission-free air-conditioner for electric and hybrid buses. Besides, this eco-friendly air conditioner uses environmentally friendly and safe refrigerant viz. R744.
Automatic temperature control to drive growth
Automatic temperature control is one of the advanced technologies in the HVAC system in vehicles. The automatic temperature control takes care of the humidity level and temperature inside the bus according to weather conditions. In 2017, Hyundai Motor unveiled an all-electric bus with an automatic temperature control system that prevents the battery from overcharging and controlling battery temperature depending on weather conditions.
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Key benefits of the report:
• This study presents the analytical depiction of the Bus HVAC industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Bus HVAC market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the public transport vehicle market research report:
• What are the leading market players active in the bus HVAC market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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