Heavy Duty Vehicle HVAC Market will generate $2.56

Portland, OR, June 27, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the heavy duty vehicle HVAC market generated $1.15 billion in 2010 and is expected to reach $2.56 billion by 2027, growing at a CAGR of 7.04% from 2021 to 2027. The report provides a detailed analysis of the changing dynamics of the market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.

The increase in the demand for thermal and automatic air conditioning systems in heavy vehicles, the development of the intelligent transport system and the growing demand for electric buses are giving impetus to the growth of global HCV HVAC market. However, high installation and maintenance costs are hampering the growth of the market. On the other hand, the development of environmentally friendly refrigerants, increased demand for HVAC systems from developing countries, and increased safety and comfort through the adoption of HVAC systems provide lucrative opportunities for the expansion of the heavy-duty HVAC market.

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Covid-19 scenario –

  • The Covid-19 pandemic has negatively impacted the global heavy duty vehicle HVAC market, owing to the imposition of strict lockdown and security measures by the government such as import-export ban raw materials and social distancing, leading to a decrease in demand for automobiles. worldwide. The pandemic has also caused huge supply and demand issues globally.
  • However, the move towards vaccination by governments around the world and the development of innovative HVAC technologies have been a boon for the heavy duty vehicle HVAC market as these factors would contribute to the resurgence of the market in the coming years .

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The Heavy Duty Vehicle HVAC Market is analyzed by vehicle type, type, sales channel, entry and region. Based on vehicle type, the truck segment captured the largest share in 2010, accounting for more than two-fifths of the global market and would maintain its leading status till 2027. However, the intercity bus segment would show the CAGR the highest of 8.40% during the forecast period.

Based on type, the automatic segment was the largest market in 2010, grabbing more than half of the global market share and would lead the way through 2027. The same is expected to hold true for CAGR the faster by 8.22% over the forecast period.

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By region, Asia-Pacific captured the largest market share of more than one-third in 2010 and would witness notable growth over the forecast period. The same is expected to show the fastest CAGR of 7.80% by 2027.

The major players of the global heavy duty HVAC market explored in the report are Coachair Pty Ltd., Denso Corporation, Eberspächer Gruppe GmbH & Co. KG, Grayson Thermal Systems, Zhengzhou Guchen Industry Co., Ltd., Internacional Hispacold Sa, Japan. Climate Systems Corporation, Konvekta AG, MAHLE GmbH, Mobile Climate Control, Inc., ProAir LLC, Sanden Holdings Corporation, Sidwal Refrigeration Industries Pvt. Ltd., Subros Limited, SUTRAK Corporation, Trane Technologies PLC, TransACNR, Valeo and Webasto Group.

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Similar reports we have on the automotive industry:

Automotive HVAC Systems Market By technology (automatic and manual), vehicle type (passenger car, utility vehicle and electric vehicle) and component (evaporator, compressor, condenser, receiver-drier, expander and others): analysis of global opportunities and industry forecast , 2020–2030.

Indian automotive HVAC market By technology (manual and automatic) and vehicle type (passenger cars, light-duty vehicles and heavy-duty vehicles): opportunity analysis and industry forecast, 2019-2030.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

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