The market for Global Climate Control Systems in Commercial Vehicles is expected to grow by 9.04% every year from 2018 to 2023. This growth is mainly because the automotive industry is getting bigger, and that's boosting the market for climate control systems in commercial vehicles during this time.
Now, let's break down some details about this market. We look at different parts of the climate control systems in commercial vehicles and how they're doing. One important part is the compressor, which helps in making these systems work. In 2017, the compressor part had the biggest share in the market, making up 16.32%. This was worth about USD 1,808.0 million. And guess what? It's expected to grow the fastest during the forecast period, at a rate of 10.06%.
Then, we can talk about the different types of commercial vehicles. Among them, trucks are leading the way, making up 30.27% of the market in 2017. This was worth about USD 3,353.4 million. And just like the compressor, trucks are expected to grow the fastest, at a rate of 11.26%.
Now, let's look at a special kind of commercial vehicle, the electric one. In this category, hybrid electric vehicles had the biggest share, making up 67.41% of the market in 2017.
And finally, we can break down the market based on where these commercial vehicles are used. Among them, the long-haul segment was the biggest, making up 44.92% of the market in 2017.
So, in simpler terms, the market for climate control systems in commercial vehicles is expected to grow a lot because the automotive industry is getting bigger. The compressor part and trucks are the big players in this market, and they're expected to grow the fastest. Electric vehicles, especially hybrid ones, are also a significant part of this market. And when we look at where these vehicles are used the most, long-haul situations are leading the way. Overall, it's an exciting time for the market, with a lot of growth expected in the coming years.
Report Attribute/Metric | Details |
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Growth Rate | 7%(2022-2030) |
The global climate control system for commercial vehicle market is estimated to reach a valuation of USD 37,450 Million in 2030 and is expected to expand at an impressive growth rate during the forecast period (2022-2030).
The automotive sector is highly competitive, therefore, keeping at par with other market contenders is extremely important for survival. There has been a constant focus on improving the occupant experience, prompting carmakers to go the extra mile in the process. Integration of climate control systems in commercial vehicles is yet another instance of how the automotive industry is evolving its products using new-age technologies. The addition of the technology allows optimization of in-car climate irrespective of the external condition. The feature is gaining popularity as comfort continues to be the top priority for vehicle owners. Demand for climate control systems integration for commercial vehicles is expected to witness a considerable upsurge in the forthcoming years.
Global Climate Control System for Commercial Vehicles Market Trends
Integration of smart connecting devices with the advancement in energy-efficient technologies and the growing trend of safety first is aiding the market's growth.
Climate control systems integration in commercial vehicles is also becoming increasingly connected as the trend toward smart and connected vehicles continues. Fleet managers can maximize the operation of temperature control systems with the employment of connected HVAC solutions for commercial vehicles, which enables remote monitoring and control. Additionally, this connectivity makes it easier to perform preventative maintenance and temperature regulation in trucks, which in turn reduces the amount of time that commercial fleets are offline and improves their overall operational efficiency.
The creation and implementation of more energy-efficient technologies are two of the most important factors that are driving the climate control system for commercial vehicle market. The manufacturers are making investments in research and development to produce temperature control systems that can be installed for cabin comfort in commercial vehicles, which also aids in reducing the amount of energy that is consumed for conditioning, which contributes to the overall efficiency of fuel consumption. This is of utmost significance in the commercial vehicle industry, since the cost of gasoline constitutes a considerable portion of the overall operational expenses.
The global climate control system for commercial vehicle market is primarily divided into component type, commercial vehicle type, and application type.
The said market when segmented based on component type, is further sub-segmented as compressor, condenser, receiver-drier, evaporator, control valves, actuators, thermostat, coils, relays, sensor, and others. Out of which, the compressor is the leading sub-segment with a major market share among other segments. Functioning as the central element of the Climate Control System for heavy-duty vehicle cooling systems, the compressor is an essential component. The principal purpose of this apparatus is to facilitate the heat exchange process by compressing and pressurizing the refrigerant gas. Efficient design of advanced compressors contributes to energy conservation and enhanced system performance. The increasing prevalence of variable-speed compressors has resulted in improved energy efficiency and passenger comfort by enabling precise control of refrigeration capacity in response to real-time demands. In response to the space and weight restrictions that are characteristic of commercial vehicles, manufacturers are emphasizing the development of compressors that are both compact and lightweight.
Considering the commercial vehicle type, the truck segment has the highest market share, while in application type, the long haul segment dominates the market share.
The global climate control system for commercial vehicle market is primarily studied across four major regions namely, North America, Europe, Asia-Pacific and the Rest of the World. Among these regions, the North American region is set to dominate the global market share. A strong emphasis is placed on regulatory compliance and cutting-edge technologies in the Climate Control System for Commercial Vehicle Market in North America. Strict emission regulations and an emphasis on sustainability have contributed to an increase in the region's need for energy-efficient and eco-friendly systems. Climate control solutions that prioritize driver convenience and are in line with the region's dedication to mitigating the environmental consequences of transportation are given priority by commercial vehicle operators in North America. Constraints such as the adoption of alternative refrigerants to comply with evolving regulations and the incorporation of intelligent features impact the market.
A strong regulatory framework and an acute awareness of environmental concerns are characteristics of the Europe & CIS Climate Control System for Commercial Vehicle Market. European nations place a high value on low-emission and energy-efficient technologies, which have a significant impact on the development and implementation of climate control systems. An emphasis is placed on sustainable refrigerants, intelligent controls, and novel heating and cooling solutions. In line with the region's dedication to environmentally sustainable and fuel-efficient transportation, European commercial vehicle manufacturers and operators are actively pursuing state-of-the-art climate control systems that not only improve the comfort of passengers but also ensure precise adherence to emission regulations.
The Asia-Pacific is a dynamic and diverse region in the global commercial vehicle climate control system market. Diverse trends are observed in nations such as China, Japan, and India, which are all impacted by factors such as economic expansion, urban development, and the rapid growth of the commercial vehicle industry. Priority is given in China to the implementation of sophisticated climate control technologies to accommodate the demands of the logistics sector's accelerated expansion. Recognized for its technological prowess, Japan prioritizes intelligent functions and energy efficiency. Amidst the considerable variation in climatic conditions across India, there is an increasing need for resilient and flexible systems. Additionally, a shift toward electric and hybrid commercial vehicles influences climate control requirements in the Asia-Pacific region, which is consistent with evolving trends.
Numerous businesses that are operating in the climate control system for commercial vehicle market are concentrating on organic growth strategies, including patents, events, and product introductions and approvals. As observed in the entire market, inorganic growth strategies included acquisitions, partnerships, and collaborations. As the demand for climate control systems for commercial vehicles increases, it is anticipated that market participants will have access to lucrative growth opportunities in the coming years. A limited number of companies operating in the market for climate control systems for commercial vehicles are listed below.
April 2024: Only the D-Max V-Cross is now available for purchase in the passenger vehicle market in India, indicating that Isuzu's footprint in the country is limited. Each and every other pickup truck is designed to meet the needs of the light commercial vehicle market. In addition, the V-Cross that is now available for purchase in India is an earlier model of the pickup truck.
A 9-inch touchscreen infotainment system, Android Auto and Apple Carplay, dual-zone climate control system, keyless entry, and an electrically adjustable driver's seat with power lumbar support are some of the features that are anticipated to be included in the new D-Max V-Cross's interior. Other features that are anticipated to be included include keyless entry. Other helpful features include a reverse parking camera and automatic LED headlights that illuminate the road ahead.
Isuzu has modified the V-Cross, which is now available for purchase in a number of overseas countries but is not available in India. It would suggest that the Japanese manufacturer would soon upgrade the V-Cross that is speculated for India. Isuzu has published a teaser for the same thing on several of the social media accounts that are associated with the brand. The brief video provides a preview of the anticipated upgrades that will be made to the recently redesigned V-Cross.
The V-Cross, which is manufactured in the United Kingdom, received a safety certification of five stars from Euro NCAP in 2014. This is because all of the vehicles in the range are equipped with Advanced Driver Assist Systems (ADAS) as standard equipment. However, it is very doubtful that the India-specific model would be able to take use of ADAS.
There is a high possibility that the 1.9-liter turbo diesel engine that is being used in the current model will be utilized in the 2024 D-Max V-Cross. This engine is capable of producing 161 horsepower and 360 Nm of peak torque. Depending on the vehicle, either a 6-speed manual or a 6-speed automatic gearbox will be responsible for the transmission responsibilities.
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