Market Research Report
Train HVAC Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|Train HVAC Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
Published: April 21, 2021
Mordor Intelligence Pvt Ltd
Content info: 110 Pages
Delivery time: 2-3 business days
The Train HVAC system market was valued at USD 13,039 million in 2020 and is expected to reach USD 15,876 million in 2026 with a CAGR of 3.40 % during the forecast period (2021 - 2026).
With the outbreak of pandemic COVID-19, the market was impacted negatively as the countries around the globe stopped their railway services for around three months period and the investments were put on hold as the government shifted their spendings towards healthcare facilities. However, with the gradual opening of economies investments returned to the market as public sector spending increased. The trend is expected to continue during the forecast period.
Owing to the increasing population and its growing demand for faster, safe, and comfortable transportation, economies across the world are investing heavily in railway infrastructure development, which is driving the market.
The increasing consumption of food products has led railway companies and authorities across the world to invest in reefers (refrigeration cars) that make the transportation of perishable goods easier in large quantities. Reefers are specialized containers that give the option of temperature regulation, humidity control, etc., for the storage of special products. This factor is propelling the growth of the train HVAC market.
Increasing Governments' Investments to Expand Rail Network
Owing to the increasing global population and mounting demand for faster, safe, and comfortable transportation, economies across the world are investing heavily in railway infrastructure development.
According to the International Energy Agency (IEA), rail transport accounts for 7% of passengers and 8% of freight transfers globally. Even in matured markets, such as Europe, the dependency on railways is still increasing.
Governments all around the world are investing heavily in expanding the railway network to cater to the increasing demand. For instance-
Asia Pacific will Exhibit the Highest Growth Rate
The governments in the region are spending heavily in expanding railway network in their country and also investing in technological advancement of train HVAC. For instance,
The train HVAC market is a consolidated one with major players such as Liebherr, Merak, etc. dominating the market.
Trane has developed Stealth Air Cooler Chiller that has the highest efficiency under maximum load conditions as well the lowest sound level for an Air Cooler.