Press release
Train HVAC Market 2024 Size, Growth, Analysis, Segmentation, And Forecast To 2033
Train HVAC Market Trends
Train HVAC Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $17.32 billion In 2028 At A CAGR Of 4.8% :
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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Train HVAC Market Major Segments
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)
Key Driver - Growing Public Transport Demand Fuels Train HVAC Market Growth
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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Prominent Trend -
Strategic partnerships are a key trend gaining popularity in the train HVAC market. Major companies operating in the train HVAC market are collaborating for the development of the market. For instance, in July 2021, Honeywell, a US-based company operating in the HVAC market partnered with Trane Technologies, an Ireland-based company operating in train HVAC to accelerate the transition to a next-generation, environmentally preferable refrigerant by field testing Honeywell's Solstice N41 (R-466A), N41 (R-466A), the first non-flammable-substitute-for-R-410A in the industry. As part of a one-year field trial, Trane would install and test Solstice N41 at three customer locations across the US. Furthermore, in March 2021, Liebherr, a Switzerland-based company operating in train HVAC, signed an agreement with Chengdu Xinzhu Road & Bridge Machinery Co. Ltd., a China-based to offer its recently built maglev urban transportation air conditioning systems.
Train HVAC 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
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the train HVAC market in 2023. The regions covered in the train hvac market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Train HVAC Market Report Structure
3. Train HVAC Market Trends And Strategies
4. Train HVAC Market - Macro Economic Scenario
5. Train HVAC Market Size And Growth
…..
27. Train HVAC Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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