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Train HVAC Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Train HVAC Market
The Business Research Company presents an extensive market research report on the Train HVAC Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The train HVAC market size has grown steadily in recent years. It will grow from $13.73 billion in 2023 to $14.37 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to increasing railway infrastructure development, growing passenger rail travel, focus on energy efficiency, enhanced passenger experience, regulatory standards and compliance.
The train HVAC market size is expected to see steady growth in the next few years. It will grow to $17.32 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to high-speed rail expansion, focus on sustainability, increasing urbanization and commuting, integration of smart HVAC solutions, upgrading existing rail fleets. Major trends in the forecast period include noise reduction in HVAC systems, use of variable refrigerant flow (VRF) technology, adoption of all-electric HVAC systems, customization of HVAC systems for different train types, global standardization in train HVAC components.
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Key Market Players:
Major companies operating in the train HVAC market report are Hitachi Ltd., Siemens AG, Midea Group Corporation, Mitsubishi Electric Corporation, Sumitomo Electric Industries Ltd., Honeywell International Inc., Toshiba Infrastructure Systems and Solutions Corporation, Škoda Transportation a.s., Valeo S.A., Carrier Transicold Ltd., Alstom S.A., Trane Technologies plc, Liebherr-International AG, Kawasaki Heavy Industries Ltd., Nippon Sharyo Ltd., Knorr-Bremse AG, Bombardier Inc., Transmashholding AG, Stadler Rail AG, Construcciones y Auxiliar de Ferrocarriles (CAF), Construcciones y Máquinas (CONYSA), Samvardhana Motherson International Limited, Merak SA, Faiveley Transport, Vossloh Kiefer AG, Lloyd Electric Engineering Limited, Airrex (Shenzhen) Group Co Ltd., Northwest Rail Electric LLC, TrainCool Solutions LLC, HVACrail Solutions LLC
Market Drivers:
The increasing demand for public transport is expected to boost the growth of the train HVAC market going forward. The purpose of a heating, ventilation and air conditioning (HVAC) system is to offer thermal comfort and contribute to the maintenance of good indoor air quality (IAQ). Rapid development in the rail industry and a great deal of investment in the sector are enabling people to opt for public transport, especially trains. Due to this demand, trains are becoming crowded, and there is a huge need for HVAC systems to maintain a good quality of air. For instance, in December 2022, according to the Office of Rail and Road, a UK-based organization responsible for overseeing and independently regulating the economic and safety conditions on Britain's railways, in the most recent period, Great Britain saw a total of 359 million rail passenger trips (1 July to 30 September 2022). This is equivalent to 80.3% of the 448 million trips made in the same quarter three years earlier. Therefore, an increase in the demand for public transport drives the train HVAC market.
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https://www.thebusinessresearchcompany.com/report/train-hvac-global-market-report
The train HVAC market covered in this report is segmented -
1) By Train Type: Passenger, Freight
2) By Systems: Vapor Cycle Systems, Air Cycle Systems
3) By Components: Air Dampers, Blower, Compressor, Condenser, Inverter, Evaporator, Other Components
4) By Refrigerants: Conventional Refrigerants , Natural Refrigerant (Carbon Dioxide (CO2)
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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