India Truck & Bus Air Conditioner Market Comprehensive Analysis and Forecast 2024 to 2030
India Truck & Bus Air Conditioner Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 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 India Truck & Bus Air Conditioner Market is going through significant growth due to multiple drivers like technological advancements and, of course, increasing healthcare needs. The increase in road accidents throughout the country creates a greater demand for X-rays.
Markntel Advisor’s India Truck & Bus Air Conditioner Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, India Truck & Bus Air Conditioner Market drivers, barriers, India Truck & Bus Air Conditioner Market Trends, and Key Players in India Truck & Bus Air Conditioner Market.
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India Truck & Bus Air Conditioner Market Dynamics: 2024-2030
India Truck & Bus Air Conditioner Market Challenge:
Low Adoption Rate in the SMEs – Due to growing inflation in the country, many small and medium enterprises (SMEs) prioritize affordability and operational efficiency in their transportation facilities over amenities like air conditioning. According to the World Bank, the inflation rate in India has increased to around 6.7% in 2022 from around 3.7% in 2019. Prioritizing affordability and efficiency allows them to allocate resources to areas that directly impact their core operations and growth.
Additionally, the infrastructure and road conditions in certain regions, such as low-tier cities, make it challenging to justify the added expense of air-conditioned buses & trucks. Thus, being inherently price-sensitive, SMEs could opt for non-air-conditioned vehicles to minimize initial costs and ongoing operational expenses. This could result in lower adoption rates of air-conditioned buses and trucks within this sector in the coming years.
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India Truck & Bus Air Conditioner Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
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)
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.
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Top Companies Operating 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.
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