The India Truck & Bus Air Conditioner Market size is estimated to grow at a CAGR of around 6.72% during the forecast period, i.e., 2024-30. According to MarkNtel Advisors Study.
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.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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India Truck & Bus Air Conditioner Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Vehicle Type
- Bus- Market Size & Forecast 2019-2030F, USD Million
- Large Buses (Above 10 Meter)
- Medium Buses (7.1 to 10 Meter)
- Small Buses (Below 7 Meter)
- Truck- Market Size & Forecast 2019-2030F, USD Million
- Heavy Duty Trucks (Above 7 Tons)
- Light & Medium Duty Trucks (Up to 7 Tons)
- Bus- 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 Demand Type:
- OEM- Market Size & Forecast 2019-2030F, USD Million
- Replacement- Market Size & Forecast 2019-2030F, USD Million
- By Capacity
- Up to 10 Kw – Market Size & Forecast 2019-2030F, USD Million
- 10.1-25 Kw- Market Size & Forecast 2019-2030F, USD Million
- 25.1-40 Kw- Market Size & Forecast 2019-2030F, USD Million
- Above 40 Kw- Market Size & Forecast 2019-2030F, USD Million
- By Region
- North
- West
- East
- South
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Denso Corporation, Robert Bosch GmbH, HELLA GmbH & Co. KgaA, ZF Friedrichshafen AG, Nidec Corporation, Aisin Corporation, Marelli Holdings Co., Ltd, Continental AG, Mitsubishi Electric Corporation, Magna International Inc., Others looking forward to strengthening their market positions.
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