Transport air conditioner and refrigeration market has emerged significantly in India in last few years. Led by factors such as construction of metro rails, growing number of tourists, growth of cold chain industry, sales of high end buses and reefer trucks have spurred transport air conditioner & refrigeration systems market in the country.
According to 6Wresearch, India Transport Air Conditioner and Refrigeration market (including bus, rail and truck air conditioner & refrigeration system) touched $107 million in 2015. In India Transport Air Conditioner & Refrigeration market, rail segment accounted for majority of the revenue share followed by bus and truck segments.
According to Rajat Kharbanda, Senior Consultant, 6Wresearch, “In the rail segment, Indian railway has contributed major revenue share in 2015 and expected to grow at a healthy rate over the coming years owing to rising investments in this segment. Upcoming metro projects and addition of AC coaches in the rail network would fuel the demand for air conditioners.
Over the next six years, bus segment is exhibited to register key growth on the back of growing demand for low floor and luxury buses in the country. Also, education sector is one of the key emerging markets for bus air conditioner segment,” Rajat concluded.
According to Sathi Paul, Research Analyst, Research and Consulting, 6Wresearch, “By service, new installation market has captured lion’s share in the overall India transport air conditioner & refrigeration market followed by maintenance and modernization. Inbuilt updated refrigerant air conditioner with energy efficient features in the commercial vehicles has driven the market in India. However, low penetration, inconvenient road infrastructure and high cost of cooling equipment have challenged the market growth.
Truck air conditioner & refrigeration market is still niche in India. The growth of this segment would be primarily dependent on the progression of cold chain industry in the country.
Southern and Northern regions are the key revenue generating regions in the overall Indian transport air conditioner & refrigeration market. Southern market is expected to upsurge in the coming years due to purchase of 150 air conditioned electric buses by Bangalore Metropolitan Transport Corporation (BMTC),” Sathi further added.
India transport air conditioner & refrigeration market is characterized by both local and international players. Major players in India transport air conditioner & refrigeration market are Carrier, Eberspächer Suetrak, Spheros Gmbh, Lloyd Group, Toshiba and Subros Ltd.
“India Transport Air Conditioner & Refrigeration Market (2016-2022)” features in-depth analysis with 58 figures and 8 tables covered in more than 100 pages. The report include historical and forecast estimations for the overall India transport air conditioner & refrigeration market by revenues, by segments (Bus, Rail and Truck) and by service (New Installation, Maintenance and Modernization). The report also provide insights on competitive landscape, market share by companies, company profiles, market drivers and restraints. 6Wresearch regularly tracks air conditioner market and has been publishing report across various emerging markets and countries in Asia, Middle East and Latin America.