India Truck Bus Air Conditioner Market Insights Report Overview
According to the latest market study by MarkNtel Advisors titled “India Truck Bus Air Conditioner Market Size, Share, Trends, Growth, Opportunity Analysis 2024-2030” presents a thorough examination of market drivers, opportunities and challenges.
Utilizing a quantitative approach, it offers precise insights into market size, share, and growth. Crafted by industry experts, the report delves into consumption patterns, geographical analysis, and competitive landscapes. Its objective is to furnish valuable insights for clients seeking to comprehend and leverage market dynamics. With a dual focus on historical achievements and future projections, it furnishes a nuanced understanding of the market terrain.
India Truck Bus Air Conditioner Market Insight:
The India Truck Bus Air Conditioner Market is estimated to grow at a CAGR of around 6.72% during the forecast period, i.e., 2024-30.
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India Truck Bus Air Conditioner Market Opportunity:
Government Stringent Mandate to Install Air-conditioned Systems to Offer New Opportunities – The government of India approved the draft notification that mandates the installation of air-conditioned systems in the cabins of trucks classified under categories N2 and N3. The decision aims to enhance road safety by providing comfortable working conditions for truck drivers, improving their efficiency, and addressing issues related to driver fatigue. In response to this, all trucks are to be equipped with air conditioners by 2025. This would result in retrofitting opportunities for truck manufacturers, as existing trucks are to be updated modernized to comply with the new regulations. All these factors are expected to boost the market in the coming years.
Competitor Insight: India Truck Bus Air Conditioner Market
This report focuses on major market participants like:
- Denso Kirlosker Industries Pvt. Ltd
- JTAC
- Valeo Thermal Commercial Vehicle Germany GmbH
- TKT
- Thermo King
- Subros Limited
- Marwahindia
- Sidwal Refrigeration Industries Private Limited
- Songz
- Eberspacher Gruppe GmbH Co. KG
- Others
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Segmentation Summary: India Truck Bus Air Conditioner Market
This segmentation analysis outlines prominent sections in the report's table of contents. Each segment undergoes thorough analysis, including sub-segments, to showcase both current and historical market sizes. The analysis underscores investment opportunities for rapid growth, particularly in the India Truck Bus Air Conditioner Market, with notable highlighting on:
-By Demand Type
- OEM
- Replacement
During the historical period, the original equipment manufacturer (OEM) segment witnessed high growth due to the increased adoption of premium and high-end buses trucks and the growth of the tourism industry. The country has witnessed an increase in the purchase of premium and high-end trucks in the past few years due to the boom in mining, road construction, and e-commerce. For instance, in 2021, Volvo commercial vehicles reported about a 25.8% jump in sales to 6,154 units in 2021 from around 4,892 units in 2020. This surge in sales has led to a growing demand for truck bus air conditioners by original equipment manufacturers (OEMs) to outfit their premium commercial vehicles.
-By Vehicle Type
- Bus- Market Size Forecast 2019-2030F, USD Million
- Truck- Market Size Forecast 2019-2030F, USD Million
-By Product Type
- Roof Mounted Split AC- Market Size Forecast 2019-2030F, USD Million
- Back Wall AC- Market Size Forecast 2019-2030F, USD Million
-By Capacity
- Up to 10 Kw - Market Size Forecast 2019-2030F, USD Million
- 1-25 Kw- Market Size Forecast 2019-2030F, USD Million
- 1-40 Kw- Market Size Forecast 2019-2030F, USD Million
- Above 40 Kw- Market Size Forecast 2019-2030F, USD Million
India Truck Bus Air Conditioner Market Geographical Reach:
- North
- West
- East
- South
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Key Questions Addressed:
- Factors Driving Market Growth: Understand the primary drivers propelling the India Truck Bus Air Conditioner market forward.
- Access to Reliable Reports: Learn where to access dependable market reports for informed decision-making.
- Growth Projections: Gain insights into anticipated growth projections for the coming years.
- Geographical Hotspots: Identify geographical poised for significant market growth soon.
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