Bus Compressor Market Size, Share, Growth and Demand Forecast 2027

Bus Compressor Market Size, Share, Growth and Demand Forecast 2027 - CAGR of 3.81%

iCrowd Newswire
22 Jun 2022, 03:18 GMT+10

From USD 102 billion in 2021, the global bus compressor market size will reach USD 206.2 billion by 2027. It will show a growth rate of 3.81% during the forecast period.

The increased demand for fuel-efficient and environment-friendly compressors so as to reduce air pollution and prevent global warming is one of the major factors driving the growth of the global bus compressor market. Manufacturers are enhancing their design so as to offer lightweight and compact solutions. Moreover, various firms are working on compressors that can change their output displacement based on environmental factors including vehicle speed, sunlight, and ambient temperature.

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Furthermore, as the temperature in the car cabin rises, so does the discomfort for the driver and passengers within the vehicle while traveling, thereby, driving up demand for vehicle air conditioning. As a result, there is an increased demand for air conditioning so as to offer comfort in commercial vehicles like buses and coaches while driving which propels the market growth for compressors in automobiles. Compressors reduce the temperature and offer cooling inside vehicles, thus bus compressor industry is expected to grow rapidly in the near future.

COVID-19 Pandemic

The relaxation post-COVID-19 crisis is encouraging the movement of public transportation, resulting in the value-grab potential for manufacturers in the bus compressor industry. In order to redefine bus weight, size, noise, and fuel source, industries should enhance research spending on compressors to meet the demand for city buses. Individual solutions for specific needs are becoming more readily available in the bus compressor industry. They're increasing compressor output capacities so that they can adapt to varied cooling concepts.

Market Segmentation

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

By Bus Type

Diesel Bus

Gasoline Bus (Petrol/CNG)

Electric Bus
- Hybrid Electric Buses
- Full Electric Bus

Fuel Cell Bus

By Application

Air Conditioning (AC)

Air Brakes

By Sales Channel

OEMs

Aftermarkets

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 air compressor segment accounted for a large portion of the worldwide bus compressor market.

However, due to the rising demand for electric buses, the electric compressor category is likely to acquire market share by the end of the projection period. In terms of revenue, the rotary screw compressor sub-segment of the air compressor industry held a significant share of the worldwide bus compressor market.

The rotary screw compressor is more complicated and uses less power than other types of compressors, which has increased its demand. The screw rotors' speed is set at a specific level in order to reduce mechanical and volumetric losses during compression. Thus, air compressor category is anticipated to grow significantly during the forecast period.

Regional Analysis

North America is anticipated to contribute the largest share in the bus compressor market owing to increased R&D facilities and rising adoption of AC compressor owing to increasing number of passenger and commercial vehicles in the region.

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Recent News

In December 2021, Mitsubishi Electric Corporation stated that it will invest 0.6 billion Thai baht (about 18 million USD) to expand production capacity at Siam Compressor Industry Co., Ltd (SCI), the company's air-conditioner compressor manufacturing base in Thailand. Scroll compressor production will eventually increase to 870,000 units per year, up from 745,000. Beginning in October 2022, the facility will expand production. The expanded plant will implement a variety of new environmental measures as part of the expansion, including integrated manufacturing processes to shorten production cycles and energy-saving production methods to cut CO2 emissions.

Some of the Key Players are: