Global Market for Bus Compressor is Anticipated to grow at a Significant Pace i.e., USD 206.2 Million during the Forecast Period 2021-2027

Published Date: Jan, 2022

The global bus compressor market is anticipated to grow at 3.81% CAGR during the forecast period. Compressed air technology has gained significance owing to the safe and reliable operation of crucial applications in city buses, and companies in the bus compressor industry are exploiting it. Apart from air conditioning, manufacturers are diversifying their revenue streams by adding braking systems, air suspensions, and doors. The bus compressor market is being driven by the transition of the mobility sector to fully electric and hybrid power buses. The rising demand for fuel-efficient, environmentally friendly solutions, rising demand for air conditioning systems in buses, and increasing vehicle comfort among passengers will fuel the growth of the global bus compressor market.

In November 2021, Hanon Systems had set up a new manufacturing site in Gyeongju, Korea to produce components for eco-friendly vehicles in Korea and shift towards electrified vehicles. The plant is providing a variety of electric vehicle solutions, including heat pump systems and coolant valve assemblies, for Hyundai Motor Group's Ulsan plant's E-GMP (electric global modular platform)-based IONIQ 5, 6, 7, and Genesis vehicles. By 2024, the business intends this plant to provide environmentally acceptable solutions for about 300,000 electric automobiles.

The COVID-19 pandemic has disrupted the automotive industry owing to the shortage of semiconductors that has led to a reduction in production and shortage of chips. However, the auto manufacturers are concentrating on applications like air conditioning and air brakes in the buses. There is growing investment for electrification in the automotive industry, resulting in creating opportunities for the bus compressor market.

Browse 63 market data Tables and 40 Figures spread through 200 Pages and in-depth TOC on " Bus Compressor Market by Compressor Type (Electric Compressor, Air Compressor (Rotary Screw Compressor, Reciprocating Air Compressor, Axial Compressor, and Centrifugal Compressor), Mechanical Compressor (Swash Plate Compressor, Wobble Plate Compressor, Scroll Compressor), and Others), by Bus Type (Diesel Bus, Gasoline Bus (Petrol/CNG), Electric Bus (Hybrid Electric Buses and Full Electric Bus), and Fuel Cell Bus), by Application (Air Conditioning (AC) and Air Brakes), by Sales Channel (OEMs and Aftermarkets), and Region - Global Forecast to 2027"

By compressor type, the electric compressor is anticipated to grow substantially during the forecast period 2021-2027.

The global bus compressor market is divided into electric compressors, air compressors, mechanical compressors, and others based on compressor type. Rotary screw compressors, reciprocating air compressors, axial compressors, and centrifugal compressors are all types of air compressors. Swash plate compressors, wobble plate compressors, and scroll compressors are all types of mechanical compressors. The electric compressor is anticipated to grow at a significant pace owing to the rising demand for electric buses and premium vehicles.  The rising demand for zero-emission vehicles is growing rapidly to solve the problem of deteriorating environmental conditions will propel the growth of the electric compressor segment.

Global Bus Compressor Market Segmentation Analysis

Segment

Categorization

Leading Category

Compressor Type

Electric Compressor, Air Compressor (Rotary Screw Compressor, Reciprocating Air Compressor, Axial Compressor, and Centrifugal Compressor), Mechanical Compressor (Swash Plate Compressor, Wobble Plate Compressor, Scroll Compressor), and Others

 

Air Compressor (Largest)

Electric Compressor (Significant Growth)

Bus Type

Diesel Bus, Gasoline Bus (Petrol/CNG), Electric Bus (Hybrid Electric Buses and Full Electric Bus), and Fuel Cell Bus

Electric Bus (Significant Growth)

Application

Air Conditioning (AC) and Air Brakes

Significant Growth (Largest)

Sales Channel

OEMs and Aftermarkets

OEMs (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

 

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“North America to hold the largest regional market share in the bus compressor market.”

North America contributes to the largest share in the bus compressor market due to the expanding number of commercial vehicles used as a result of the rising population, increasing disposable income, and rising standard of life among people. Furthermore, increased demand for environmentally friendly vehicles, as well as advancements in mass manufacturing methods like assembly line production, would accelerate vehicle production in the region.

Some of the major players in the global Bus Compressor Market include BorgWarner Inc., DENSO CORPORATION, Hanon Systems, HELLA GmbH & Co. KGaA, Hitachi, Ltd., MAHLE GmbH, Mitsubishi Electric Corporation, SANDEN CORPORATION, TOYOTA INDUSTRIES CORPORATION, and VALEO SERVICE.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Compressor Type, Bus Type, Application, Sales Channel, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

BorgWarner Inc., DENSO CORPORATION, Hanon Systems, HELLA GmbH & Co. KGaA, Hitachi, Ltd., MAHLE GmbH, Mitsubishi Electric Corporation, SANDEN CORPORATION, TOYOTA INDUSTRIES CORPORATION, and VALEO SERVICE

Global Bus Compressor Market Coverage

Compressor Type Insight and Forecast 2015-2027

  • 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 Type Insight and Forecast 2015-2027

  • Diesel Bus
  • Gasoline Bus (Petrol/CNG)
  • Electric Bus
    • Hybrid Electric Buses
    • Full Electric Bus
  • Fuel Cell Bus

Application Insight and Forecast 2015-2027

  • Air Conditioning (AC)
  • Air Brakes

Sales Channel Insight and Forecast 2015-2027

  • OEMs
  • Aftermarkets

Geographical Segmentation

Bus Compressor Market by Region

North America

  • By Compressor Type
  • By Bus Type
  • By Application
  • By Sales Channel
  • By Country – U.S., Canada, and Mexico

Europe

  • By Compressor Type
  • By Bus Type
  • By Application
  • By Sales Channel
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Compressor Type
  • By Bus Type
  • By Application
  • By Sales Channel
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Compressor Type
  • By Bus Type
  • By Application
  • By Sales Channel
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

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Global Market for Bus Compressor is Anticipated to grow at a Significant Pace i.e., USD 206.2 Million during the Forecast Period 2021-2027