Bus Compressor Market (Compressor Type: Electric Compressor, Air Compressor, Mechanical Compressor, and Others; Bus Type: Diesel Bus, Gasoline Bus � Petrol/CNG, Electric Bus, Fuel Cell Bus; Application: Air Conditioning [AC] and Air Brakes; and Sales Channel: OEM and Aftermarket)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Bus Compressor market gathered revenue around USD 140.69 Mn in 2021 and market is set to grow USD 210.24 Mn by the end of 2030 and is estimated to expand at a modest CAGR of 4.0% during the prediction period 2022 to 2030.

Growth Factors:

Currently, global warming is a major issue that is affecting the lives of people. Temperature of the environment is increasing by 1 to 2 degree every year. Transportation in such weather conditions is not easy. Vehicles are equipped with an AC unit in order to make driving comfortable, which keeps the environment of the vehicle interior at a normal temperature. There are two broad segments of compressors: electrical and conventional (mechanical). Conventional compressors directly run through the engine, via a belt, which exerts pressure on the engine, leading to increase in vehicle emission. Increase in vehicle emission leads to a rise in global warming, as vehicular emission has greenhouse gases such as CO2 and methane. Electric vehicles have been introduced in the market in order to deal with the issue of vehicle emission. For electric vehicles, an electrical compressor is used. An electrical compressor is also utilized in premium vehicles. The demand for premium vehicles has increased due to the increase in standard of living and purchasing power capacity. Furthermore, the demand for zero emission vehicles is increasing in order to overcome the issue of deteriorating environmental conditions.

Report Coverage

Drivers of Bus Compressor Market

Manufacturers of bus compressors are constantly improving fuel-efficiency of their compressors in an attempt to minimize air pollution and prevent global warming. Design improvements are projected to boost the need for lightweight and compact solutions. Accordingly, various manufacturers are developing compressors that offer a variable output displacement as per external variables such as driving speed, sunlight, and surrounding temperature.

In 2018, the European Environment Agency stated in a report that emissions from vehicles have worsened air quality levels across Europe, resulting in more than US$ 80 Bn of healthcare costs. The traditional belt-driven compressor increases the workload of the engine, which, in turn, reduces the performance and efficiency of a vehicle, thus resulting in higher emissions. These concerns prompted people and automobile manufacturers to adopt fuel-efficient and environment-friendly solutions. Thus, increase in demand for fuel-efficient and environment-friendly solutions is propelling the demand for electric compressor. This, in turn, boosts the bus compressor market across the globe.

Demand for air conditioning is increasing, owing to rise in demand for comfort in commercial vehicles, such as buses and coaches, while driving. Moreover, an increase in temperature in the vehicle cabin increases the discomfort for driver and passengers within vehicle while traveling, which further propels the demand for air conditioning in vehicles. Therefore, rise in the demand for AC increases the demand for compressors in vehicles.

Air conditioning systems have become an essential feature in all types of vehicles, including passenger cars, heavy commercial vehicles, and light commercial vehicles. Furthermore, compressors remove heat and provide cooling inside vehicles, which is likely to propel the bus compressor market in the near future.

Challenges for Bus Compressor Market

Design, manufacture, and assembly of a bus compressor need considerable precision, advanced R&D facilities, and more advanced technology. Furthermore, it requires technical expertise and high investment. Advancements in material, components, and systems boost the price of the compressor. Consequently, the price of a vehicle equipped with an AC compressor is higher, due to the high price of the AC compressor. Maintenance issues, technical restraints, and high prices of luxury vehicles are expected to act as minor restraints for the bus compressor market during the forecast period.

Lockdown restrictions have negatively impacted the global bus compressor market. Limited production and transportation delays have created obstacles amid the pandemic. Production and distribution have been delayed, owing to consecutive waves of the novel coronavirus tightening its noose on the global economy.

Segmentation of Bus Compressor Market

Based on compressor type, the air compressor accounted for a major share of the global bus compressor market in 2020. The segment accounted for more than 55% share of the market in 2020. A rotary screw compressor powered by an internal combustion engine does work on an electric bus. The rotary screw compressor includes less parts, longer lifespan, and better fuel efficiency than other types of compressor. All these factors are likely to boost the air compressor segment during the forecast period.

Based on application, the bus compressor market has been bifurcated into air conditioning (AC) and air brakes. In terms of revenue, the air conditioning (AC) segment accounted for a major share of the global bus compressor market in 2020. Air conditioner compressor is a component in the AC that increases the temperature and pressure of the vapor refrigerant. It is important that the compressor increase the temperature so that it can finish removing the heat from the condenser. Air compressor is the main element, which helps in the operation of AC. Therefore, increase in use of AC in commercial vehicles, such as buses and coaches, drives the bus compressor market.

Regional Analysis of Bus Compressor Market

Based on region, the global bus compressor market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for a major share of the global bus compressor market. Increase in the number of commercial vehicle users due to huge population, purchasing power, wages, and standard of living is a key factor driving the market in North America. Furthermore, prominent economies in North America are demanding eco-friendly vehicles, and the rise in mass production methods such as assemble line production is likely to boost vehicle production in the region. These are major factors driving the bus compressor market in North America. The emergence of business affairs revised taxes during Brexit is expected to hamper sales and production of vehicles in Europe, which, in turn, is anticipated to hamper the bus compressor market in the region.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Bus Compressor Market include:

·        BorgWarner Inc.

·        Denso Corporation

·        Hanon Systems

·        HELLA GmbH & Co. KGaA

·        Hitachi Automotive Systems Ltd.

·        MAHLE GmbH

·        Mitsubishi Electric Corporation

·        SANDEN HOLDINGS CORPORATION

·        Subros Limited

·        T/CCI Manufacturing

·        Toyota Industries Corporation

·        Voith GmbH & Co. KGaA

·        Valeo SA

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

Global Bus Compressor Market: Segmentation

• Bus Compressor Market, by Compressor Type
• Electric Compressor
• Air Compressor
• Rotary Screw Compressor
• Reciprocating Air Compressor
• Axial Compressor
• Centrifugal Compressor
• Mechanical Compressor
• Swash Plate Compressor
• Wobble Plate Compressor
• Scroll Compressor
• Others
• Bus Compressor Market, by Bus Type
• Diesel Bus
• Gasoline Bus – Petrol/CNG
• Electric Bus
• Hybrid Electric Bus
• Full Electric Bus
• Fuel Cell Bus
• Bus Compressor Market, by Application
• Air Conditioning (AC)
• Air Brakes
• Bus Compressor Market, by Sales Channel
• OEMs
• Aftermarket

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Bus Compressor market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Bus Compressor market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Bus Compressor markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Bus Compressor Market Study:

• Growth of Bus Compressor in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Bus Compressor and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Bus Compressor Consumption Analysis
•  Bus Compressor Production Analysis