India Truck & Bus Air Conditioner Market Insight: Industry Size, Growth & Trends from 2024-2030

MarkNtel Advisors analyses the growth rate of the India Truck Bus Air Conditioner market in the forecast period from 2024 to 2030. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the India Truck Bus Air Conditioner market, helping them make informed decisions.

Market Outlook – 2024-2030:

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. The expansion of the market is propelled by the progressing development of road infrastructure, government regulations, an increasing count of private schools, etc. The rapid growth of road infrastructure, particularly state and national highways in the country, has been propelling the growth of the bus and truck industry in the country in recent years. Rapid national state government initiatives and investments to boost the economic industrial sectors, such as tourism, trade commerce, etc., lead to the upward development of road infrastructure.

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Key Company Profiles

This report explores recent significant developments in the India Truck Bus Air Conditioner Market, focusing on the leading companies and their innovative profiles. The major players in the India Truck Bus Air Conditioner Market, featured in this report, include:

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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Market Segmentation Coverage

This research report by MarkNtel Advisors categorizes the India Truck Bus Air Conditioner Market to forecast revenues and analyse trends across each of the following sub-markets:

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)

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- 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
- 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
By Region
- North
- West
- East
- South

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What are the primary factors driving the growth of the India Truck Bus Air Conditioner market?

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.

Key Questions Addressed:

Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?

About Us:

We are a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative quantitative research company, strive to deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.