The Train HVAC Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Train HVAC Global Market Report 2024, The train HVAC market size has grown steadily in recent years. It will grow from $13.73 billion in 2023 to $14.37 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to increasing railway infrastructure development, growing passenger rail travel, focus on energy efficiency, enhanced passenger experience, regulatory standards and compliance.
The train HVAC market size is expected to see steady growth in the next few years. It will grow to $17.32 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to high-speed rail expansion, focus on sustainability, increasing urbanization and commuting, integration of smart HVAC solutions, upgrading existing rail fleets. Major trends in the forecast period include noise reduction in HVAC systems, use of variable refrigerant flow (VRF) technology, adoption of all-electric HVAC systems, customization of HVAC systems for different train types, global standardization in train HVAC components.
The increasing demand for public transport is expected to boost the growth of the train HVAC market going forward. The purpose of a heating, ventilation and air conditioning (HVAC) system is to offer thermal comfort and contribute to the maintenance of good indoor air quality (IAQ). Rapid development in the rail industry and a great deal of investment in the sector are enabling people to opt for public transport, especially trains. Due to this demand, trains are becoming crowded, and there is a huge need for HVAC systems to maintain a good quality of air. For instance, in December 2022, according to the Office of Rail and Road, a UK-based organization responsible for overseeing and independently regulating the economic and safety conditions on Britain’s railways, in the most recent period, Great Britain saw a total of 359 million rail passenger trips (1 July to 30 September 2022). This is equivalent to 80.3% of the 448 million trips made in the same quarter three years earlier. Therefore, an increase in the demand for public transport drives the train HVAC market.
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The train HVAC market covered in this report is segmented –
1) By Train Type: Passenger, Freight
2) By Systems: Vapor Cycle Systems, Air Cycle Systems
3) By Components: Air Dampers, Blower, Compressor, Condenser, Inverter, Evaporator, Other Components
4) By Refrigerants: Conventional Refrigerants , Natural Refrigerant (Carbon Dioxide (CO2)
Major companies operating in the train HVAC market are concentrating their efforts towards innovating new solutions such as ultra-light air-conditioning systems. Ultra-light air-conditioning systems refer to highly efficient and lightweight cooling systems designed for various applications, including but not limited to, automotive, aviation, portable devices, and small-scale environments. For instance, in August 2021, Liebherr Transportation Systems (China) Co., Ltd., a China-based equipment manufacturing company launched the ‘MACS 10.0’ modular air-conditioning systems for trains. The MACS 10.0 HVAC system provides excellent flexibility, integration, and modularization capabilities, all while maintaining a compact and low profile. The air conditioning system fulfills the requirements of the customer in terms of passenger transportation.
The train hvac market report table of contents includes:
1. Executive Summary
2.Train HVAC Market Characteristics
3.Train HVAC Market Trends And Strategies
4.Train HVAC Market analysis
5.Train HVAC Market Size And Growth
6.Train HVAC Segmentation
7.Train HVAC Regional And Country Analysis
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27.Train HVAC Competitive Landscape And Company Profiles
28.Train HVAC Key Mergers And Acquisitions
29.Train HVAC Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Hitachi Ltd.
- Siemens AG,
- Midea Group Corporation
- Mitsubishi Electric Corporation
- Sumitomo Electric Industries Ltd.
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