Market Overview: India Truck & Bus Air Conditioner Market
MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on India Truck & Bus Air Conditioner Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
India Truck & Bus Air Conditioner Market Insights 2024-30
The India Truck & Bus Air Conditioner Market is estimated to grow at a CAGR of around 6.7% during the forecast period 2024-30.
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Driving Innovation: Exploring the India Truck & Bus Air Conditioner Market and its Key Drivers
India Truck & Bus Air Conditioner Market Driver: Growing Adoption of Electric Trucks and Buses in the Country
Rising demand for electric trucks and buses in India is driving the heightened requirement for truck and bus air conditioners. The government initiatives, carbon reduction goals, growing temperatures, and sustainability efforts by businesses resulted in a heightened demand for air-conditioned electric buses in the country. State governments such as Kerala, Karnataka, Tamil Nadu, Bengal, etc. are increasingly enhancing their public travel transport by heavily investing in sustainable & comfortable transportation.
For instance, in 2022, the West Bengal government awarded a contract to Tata Motors to manufacture around 1180 electric buses, which include 12-meter low-floor buses and 9-meter standard AC floor buses. Consequently, these types of government initiatives have accelerated the market in recent years.
Moreover, the rising growth of e-commerce and last-mile delivery services, especially in urban areas, is expected to increase the demand for electric trucks in the coming years. These vehicles are expected to be equipped with air conditioners to meet the evolving needs of logistics companies and contribute to sustainable urban transportation.
Top Players in the India Truck & Bus Air Conditioner Market:
Denso Kirlosker Industries Pvt. Ltd., JTAC, Valeo Thermal Commercial Vehicle Germany GmbH, TKT, Thermo King, Subros Limited, Marwahindia, Sidwal Refrigeration Industries Private Limited, Songz, Ebespacher Gruppe GmbH & Co. KG, and others
India Truck & Bus Air Conditioner Industry Recent Development:
- In 2023, Valeo India has lined up an investment of USD 162 million in India over the next three to four years to accelerate its business in the country.
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Segmentation Analysis of India Truck & Bus Air Conditioner Market
India Truck & Bus Air Conditioner Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Vehicle Type
-Bus
–Large Buses (Above 10 Meter)
–Medium Buses (7.1 to 10 Meter)
–Small Buses (Below 7 Meter)
-Truck
–Heavy Duty Trucks (Above 7 Tons)
–Light & Medium Duty Trucks (Up to 7 Tons)
- The bus segment has been holding a significant share of the market owing to the surge in outstation bus services and government initiatives.
By Product Type
-Roof Mounted Split AC
-Back Wall AC
By Demand Type:
-OEM
-Replacement
By Capacity
-Up to 10 Kw
-10.1-25 Kw
-25.1-40 Kw
-Above 40 Kw
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A Comprehensive Geographical Analysis:
By Region
-North
-West
-East
-South
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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