Bus Compressor Market: Current Analysis and Forecast (2022-2028)

A bus compressor is a device that is used to compress air in the air conditioning system of a bus or other large vehicle. The compressor plays a crucial role in the functioning of the air conditioning system, as it compresses the refrigerant gas and circulates it through the system. The bus compressor market is defined as the market for compressors that are specifically designed for use in the air conditioning systems of buses and other large vehicles. The drivers of the bus compressor market include the growth of the bus industry and the increasing focus on environmental sustainability. As more people opt for bus travel as a more environmentally friendly alternative to cars, the demand for high-quality air conditioning systems in buses is also increasing. Additionally, as the bus industry continues to grow, the demand for reliable and efficient bus compressors will also increase.

The Smart Home Market is expected to grow at a strong CAGR of 6.5% during the forecast period owing to the increasing demand for comfortable and efficient air conditioning systems in buses.In recent years, there have been several developments in the field of bus compressors, driven by the need for more efficient and sustainable air conditioning systems in buses. For example, in 2020, Danfoss, a leading manufacturer of compressors, introduced a new range of compressors designed specifically for use in electric buses. These compressors are designed to be more energy efficient than traditional compressors, helping to reduce the carbon footprint of electric buses.

Based on compressor type, the market is segmented into electric compressor and air compressor. Amongst these, the electric compressor segment has a significant share of the bus compressor market due to several drivers. One of the primary drivers is the increasing demand for electric vehicles and hybrid buses. As the world shifts towards sustainable and eco-friendly transportation options, electric vehicles are gaining popularity. These vehicles require electric compressors to power their air conditioning and cooling systems, which creates a significant demand for electric compressors in the market.Another driver is the increasing focus on energy efficiency and reducing emissions.Additionally, electric compressors have lower maintenance costs compared to traditional compressors, which is another factor driving their popularity in the market.

By sales channel, the market is bifurcated into OEM and Aftermarket. Among these, Original Equipment Manufacturer (OEM) companies have a significant share of the bus compressor market due to several drivers. One key driver is the increasing demand for buses in the public transportation sector. As the number of buses on the road increases, the demand for efficient and reliable air compressors also rises. Another driver is the trend towards outsourcing compressor manufacturing. OEMs have the advantage of economies of scale, with the ability to produce compressors in large quantities at lower costs. Additionally, outsourcing compressor production allows bus manufacturers to focus on their core competencies, such as designing and building buses, rather than investing resources in compressor manufacturing.

On the basis of bus type, the market is segmented into diesel bus, gasoline bus, and electric bus. The electric bus segment has a significant share of the bus compressor market due to several drivers. Firstly, the global push towards reducing greenhouse gas emissions and improving air quality has led to the increasing adoption of electric buses. As electric buses do not emit any tailpipe pollutants, they offer a more sustainable and eco-friendly option for public transportation, making them an attractive choice for governments and transit operators around the world.Secondly, electric buses offer a quieter and smoother ride experience compared to their diesel or gasoline counterparts, due to the absence of internal combustion engines. This has led to increased passenger satisfaction and has made electric buses more appealing for public transportation.

For a better understanding of the market adoption of the Smart Home industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Rest of World. The Asia Pacific region has seen significant growth in the bus compressor market due to a number of factors. One of the main drivers is the increasing demand for public transportation in the region, which has led to an expansion in the bus fleet. This has resulted in a growing need for efficient and reliable compressors to power the air conditioning systems of these buses. Another key factor driving growth in the Asia Pacific bus compressor market is the rising disposable income of consumers in the region. As more people can afford to travel by bus, demand for air-conditioned buses has increased, further fueling demand for compressors. Recent developments in the field of bus compressors in the Asia Pacific region include the launch of new products by leading companies such as Sanden, Valeo, and Denso. For example, in 2021, Denso announced the launch of a new compressor specifically designed for electric buses, which is expected to help meet the growing demand for eco-friendly public transportation in the region.

Some of the major players operating in the market include: BorgWarner Inc., Denso Corporation, Hanon Systems, HELLA GmbH & Co. KGaA, Hitachi Industrial Equipment Systems Co., Marelli Holdings Co., Ltd., MAHLE GmbH, MITSUBISHI HEAVY INDUSTRIES, LTD., TOYOTA INDUSTRIES CORPORATION, and Valeo SA