LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global air conditioner market for the transportation sector provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The growth in the automotive, railways, and aerospace sectors is expected to drive the demand for air conditioners in the transportation sector. The automotive sector is classified into various vehicle types, such as passenger vehicles, LDVs, MDVs, and HDVs. The increase in production of light-duty passenger vehicles due to rise in demand in developing countries, such as India and China, is expected to drive the global air conditioner market for the transportation sector.
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The top three emerging trends driving the global air conditioner market for the transportation sector according to Technavio heavy industry research analysts are:
- Innovation in air conditioners for transportation sector
- Growing adoption of electric buses
- Increased investment in aviation industry in India
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Innovation in air conditioners for transportation sector
“Manufacturers are constantly involved in developing technologically advanced products to meet the expectations of consumers and sustain in the competitive market. Companies, such as Valeo, Hanon Systems, and others, have developed advanced A/C units for transport vehicles,” says Anju Ajay Kumar, a lead analyst at Technavio for research on unit operation.
In 2017, Hanon Systems added latest accompaniments to its portfolio of innovations, an intelligent air quality system to improve the comfort of vehicle occupants. This included ultraviolet LED photo-catalyst for improving the cabin air quality, a carbon dioxide sensor to monitor the levels of carbon dioxide present, Ionizer to charge the air by creating positive and negative ion clusters and eliminate micro-organisms, and a fragrance system for diffusing aroma into the cabin.
Growing adoption of electric buses
“Countries worldwide are taking initiatives in reducing emission levels by encouraging clean and efficient means of transportation and finding alternatives to gasoline and diesel-based vehicles. One of the major alternatives for conventional fuel-based vehicles is EVs for personal and public transportation. The shift toward the adoption of EVs is expected to help various countries to reduce their fuel import cost,” adds Anju.
Metropolitan cities in India, such as Bengaluru, aims for eco-friendly means of transport in the city. In 2017, the managing director of Bangalore Metropolitan Transport Corporation announced their plan to procure 150 electric buses as they are eco-friendly, provide more comfort to passengers, and require less maintenance. The demand for electric buses is expected to grow during the forecast period as the Government of India has taken the ambitious initiative, The National Electric Mobility Mission Plan 2020, to transform the automotive and transportation industry.
Increased investment in aviation industry in India
India is a lucrative market for the aviation sector primarily due to the growing population, rapid urbanization, and rising disposable incomes. The aerospace industry in India is expected to grow due to the rise in demand for air travel. The Government of India raised the foreign direct investment limit to 100% in 2016, attracting foreign investments in the aviation sector.
Increased investments for aircraft carriers is expected to provide more growth opportunities for vendors to expand their businesses in India as it is one of the fastest growing economies in the world.
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