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Railway HVAC Market

Railway HVAC Market

Railway HVAC Market Analysis by Train Type (Locomotives, Passenger), by System (Roof-mounted, Under Floor, Split Railway HVAC Systems), by Power Source (AC, DC), by Air Flow, by Cooling Capacity, by Power Supply, by Region - Global Forecast 2022-2032

Railway HVAC Market
FACT4198MR

Railway HVAC Market Outlook (2022-2032)

Global demand for railway HVAC systems enjoyed year-on-year (YoY) growth of 5.6% in 2021 to total 290 Mn units. The global railway HVAC market is projected to grow at ~6.6% CAGR and reach a market valuation of US$ 5.3 Bn during the forecast period 2022-2032.

Demand for roof-mounted HVAC systems grew 5.4% to 140 Mn units, while the split HVAC systems segment was up 5.9% to 115 Mn units.

Report Attributes

Details

Railway HVAC Market Size (2021A)

US$ 2.61 Bn

Estimated Year Value (2022E)

US$ 2.77 Bn

Projected Year Value (2032F)

US$ 5.3 Bn

Global Market Growth Rate (2022-2032)

6.6% CAGR

North America Market Share (2021)

~28.2%

Top 5 Companies’ Market Share (2021)

~35%

Key Companies Profiled

  • Hitachi
  • Siemens Mobility
  • Toshiba Infrastructure Systems and Solutions Corporation
  • Trane Technologies
  • Mitsubishi Electric Corporation

Consumption of railway HVAC systems accounted for 4%-5% of the global HVAC market in 2021.

Expanding application of HVACs in railways for logistic application and temperature & ventilation control is set to provide lucrative opportunities to manufacturers to surge product penetration.

The market is estimated to create an absolute $ opportunity of close to US$ 2.69 Bn during the assessment period of 2022-2032.

Additionally, the railway air conditioning system market is expected to grow 1.9X during the assessment years due to rising demand from the railway sector across the world.

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Railway HVAC Demand Analysis (2017-2021) in Comparison to Growth Forecast (2022-2032)

The global train HVAC system market registered a growth around 3.1% during the historical period (2017-2021), and this squeeze in demand was witnessed due to COVID-19 pandemic. A decline of ~4.2% was experienced in 2020, which affected the demand-supply stance of the market.

Growing demand for railway HVAC from end-use verticles is poised to generate a market valuation of US$ 5.3 Billion by 2032.

Leading manufacturers are spending significant amounts on R&D to improve the efficiency and operation of HVAC systems.

  • For instance, Merak, a Spanish manufacturer of railway HVAC systems, has been working on cutting-edge technologies for HVACs.

These include technologies for improving air quality and reducing airborne pathogens through the installation of UV light components. UV light has the capability to deactivate bacteria and odors, and aid in the effective working of air conditioning systems.

Moreover, utilization of environmentally-friendly refrigerants such as R32 and R744 is likely to reduce the greenhouse emissions of HVAC systems and improve efficiency in terms of energy consumption. As such, manufacturers have ample of opportunities by working on these technologies to increase product penetration over the years ahead.

Economies of East Asia and South Asia & Oceania, including China, India, Indonesia, Malaysia, and Thailand, are high demand centres in the market. China and India will drive high market development in the near future. East Asia is likely to portray growth at 6.7% CAGR, whereas South Asia & Oceania is estimated to exhibit growth at 7.7% CAGR through 2032.

Railway HVAC Market forecast analysis by Fact.MR

How is Railway HVAC Market Growth Being Driven?

“Integration of Cloud-based Monitoring Systems and IOT”

Application of Internet of Things (IoT) technology has increased in various end-use applications over the past few years. This phenomenon has eclipsed conventional technology due to its advanced features and functionalities.

Application of IoT in a HVACs is considered a game-changer because it reduces energy consumption and maintains temperature equilibrium. Additionally, cloud-based monitoring systems aid in tracking people, send signals through IoT, and regulate load capacity.

This is likely to increase demand for HVAC systems from railway industries in the near future, thus supplementing the demand curve.

An Adaptive Approach to Modern-day Research Needs

What May Limit Railway HVAC System Demand Over the Coming Years?

“Russia Ukraine Conflict Impact on Raw Materials”

The prices of electronic products have been raised by at least 5% over the last year. This was due to rising cost of raw materials such as iron, copper, and aluminium, and other macro environmental factors across the globe.

Ukraine is considered as a major source of minerals such as copper, and the conflict between Russia and Ukraine could result in the scarcity of these minerals, leading to a rise raw mineral cost.

“Aftermarket Players Providing Equipment at Low Cost”

Wide presence of aftermarket players in the global HVAC market is likely to erode the market share of leading manufacturers across the globe. Some of the aftermarket players provide dynamic offerings in regional markets and are catering to the demand from end-use industries at an optimal cost. This is projected to shift the interest of customers towards regional players. Service providers in the aftermarket are also providing equipment at low maintenance costs.

“Low Lifespan & High Maintenance Cost of Railway HVAC Equipment”

HVAC systems regulate all functions related to temperature and moisture control in railways and other end-use industries such as automotive, chemicals, and others. Railway HVAC systems need to operate continuously in severe environmental conditions of temperature, moisture, and pressure. Due to this, they are associated with a low lifespan and high maintenance cost.

This scenario is projected to limit demand for HVACs in end-use applications and is likely to shift customers’ preferences towards alternative technologies over the years ahead.

Which Region Illuminates Exceptional Growth in the Railway HVAC Market?

  • The North America railway HVAC market is likely to reach a valuation of US$ 783 Mn in 2022. The market is projected to create an absolute $ opportunity of more than US$ 761 Mn during the assessment period.
  • South Asia & Oceania and East Asia is presumed to exhibit the highest growth rate owing high expansion of the railways sector.
  • Latin America and MEA are expected to see sluggish growth and account for a minimal market.

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Country-wise Insights

Why are Railway HVAC System Manufacturers Eyeing China?

Growth of the railways in China is anticipated to open new doors for HVAC manufacturers. Additionally, the government is highly focused on expanding its rail line network, and this would directly surge product demand.

According to Fact.MR research, sales of railway HVACs in China accounted for 36.7 ‘000 units in 2021, which is likely to increase at an optimistic CAGR of 5.9% over the assessment period.

The market in China is projected to surpass a valuation of US$ 640 Mn by 2032 and is projected to create an absolute $ opportunity of US$ 316.2 Mn over the assessment period.

Will India Bring Railway HVAC System Suppliers Increased Profits?

The Asia Pacific market is predicted to reach new heights in railway development, resulting in magnificent growth and a higher share in the railway HVAC market.

India is likely to lead the South Asia & Oceania market by accounting for approximately 17.4% market share. The India railway HVAC market is projected to account for US$ 184 Mn by the end of 2032, expanding at a significant CAGR of 6.7% over the decade.

Category-wise Insights

Which Train Type is Expected to Account for Highest Demand for Railway HVACs?

The global railway industry has witnessed remarkable growth over the past few years, since passengers prefer trains as a primary form of mass transportation across the globe. Additionally, a considerable number of commuters have been frequently crowding train carriages during peak hours across all prominent regions.

Passenger trains captured more than 84% market share in 2021, and the segment is expected to expand at a CAGR of 6.6% during the forecast period.

Growing demand for efficient HVAC units for improving passage experience and logistic operations are likely to provide abundant opportunities for manufacturers.

Locomotives trains, including electric and diesel, account for nearly 16.8% market share, and are likely to reach a market value of US$ 870 Mn by the end of 2032.

Which HVAC System Will Show Highest Sales Valuation Going Forward?

Split HVAC systems provide several benefits such as quiet operations, higher energy efficiency, and safety, and play a crucial role in zoning.

Due to aforementioned benefits, utilization of split HVAC systems is likely to account for more than 48% share of the demand by the end of 2032 and top a market valuation of US$ 2.6 Bn by the end of 2032.

Competitive Landscape: Top Companies in the Railway Air Conditioning System Market

DC Airco, Airflow Equipments Pvt. Limited, Elite KL, Emerson Electric Company, Guangdong Shenling Environmental Systems Co., Ltd., Hitachi, Coolair Logan, Noske-Kaeser Rail & Vehicle, Senior FLEXONICS GmbH, Shijiazhuang King Transportation Equipment Co., Ltd, Siemens Mobility, Toshiba Infrastructure Systems and Solutions Corporation, Trane Technologies, Klimat-Fer S.p.A, KNORR-BREMSE AG, SONGZ AC, Liebherr Group, BOOYCO ENGINEERING, Lloyd Electric and Engineering, Mitsubishi Electric Corporation are some of the prominent manufacturers of railway HVAC units.

A collaborative approach with the railway industry has become one of the most important strategies followed by various manufacturers, aiming to establish a strong customer base in the market. Few market players have strengthened their customer base by streamlining their product lines as per end-use (railway) demand.

These strategies are likely to benefit players in terms of strengthening their annual sales volume and capturing a larger share in the market. In addition, this strategy will help manufacturers develop an innovative product range for the railways and other end-use industries.

Moreover, railway HVAC system manufacturers are likely to undertake organic growth strategies through an entrance into their distribution channels for HVAC temperature control systems to strengthen their profit margins.

Fact.MR has provided detailed information about the price points of top manufacturers of railway HVAC units positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Key Segments Covered in Railway HVAC Industry Research

  • Railway HVAC Market by Train Type:

    • Locomotives
      • Electric Locomotives
      • Diesel Locomotives
    • Passenger
      • DMU
      • EMU
      • Light Rail /Tram
      • Subway/Metro
      • Monorail
      • High Speed Trains
  • Railway HVAC Market by System Type:

    • Roof-mounted Railway HVAC Systems
    • Under Floor Railway HVAC Systems
    • Split Railway HVAC Systems
  • Railway HVAC Market by Cooling Capacity:

    • Up-to 5 kW Railway HVAC Systems
    • 5-10 kW Railway HVAC Systems
    • 10-20 kW Railway HVAC Systems
    • 20 - 40 kW Railway HVAC Systems
    • 40 -60 kW Railway HVAC Systems
    • Above 60 kW Railway HVAC Systems
  • Railway HVAC Market by Power Source:

    • AC Railway HVAC Systems
    • DC Railway HVAC Systems
  • Railway HVAC Market by Air Flow:

    • Up-to 2,000 m^3/h
    • 2,000 - 4000 m^3/h
    • 4,000 - 7,500 m^3/h
    • 7,500 - 10,000 m^3/h
    • Above 10,000 m^3/h
  • Railway HVAC Market by Power Supply:

    • Up to 48V Railway HVAC Systems
    • 48 - 110 V Railway HVAC Systems
    • 110 - 230 V Railway HVAC Systems
    • 230 - 400 V Railway HVAC Systems
    • 400 - 600 V Railway HVAC Systems
    • Above 600 V Railway HVAC Systems
  • Railway HVAC Market by Region:

    • North America Railway HVAC Market
    • Latin America Railway HVAC Market
    • Europe Railway HVAC Market
    • East Asia Railway HVAC Market
    • South Asia & Oceania Railway HVAC Market
    • MEA Railway HVAC Market

- FAQs -

The global railway HVAC market is estimated to be worth US$ 2.77 Bn in 2022.
Railway HVAC system demand is anticipated to reach US$ 5.3 Bn by 2032-end.
During 2017-2021, global demand for railway HVAC systems increased at 3.1% CAGR.
Some of the prominent players in the railway HVAC market are Hitachi, Siemens Mobility, Toshiba Infrastructure Systems and Solutions Corporation, Trane Technologies, and Mitsubishi Electric Corporation.
North America tops the global railway HVAC industry accounting for 28.2% market share in 2022.
Split HVAC systems hold around 48% share in the global sales of railway HVACs.

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