Global Trucks And Trailer HVAC Market Overview
As per MRFR analysis, the Trucks And Trailer HVAC Market Size was estimated at 2.64 (USD Billion) in 2022.The Trucks And Trailer HVAC Market Industry is expected to grow from 2.77(USD Billion) in 2023 to 4.2 (USD Billion) by 2032. The Trucks And Trailer HVAC Market CAGR (growth rate) is expected to be around 4.74% during the forecast period (2024 - 2032).
Key Trucks And Trailer HVAC Market Trends Highlighted
The trucks and trailer HVAC market at a global scale is adversely affected by various parameters that control its growth. The constraints of emission norms, competition for fuel economy, and increasing emphasis on driver safety and comfort are some of the concerns that drive installers. Efforts are now directed at producing technologies geared towards strengthening unit efficiency, limiting emissions, and optimizing thermal comfort for operator and non-operator occupants.
Potential benefits can be derived from tackling the recent challenges of electric-powered HVAC systems, which are more advanced and eco-friendly. Also, with more highways looking at autonomous trucks in the future, there are areas where HVAC would be viable in integration with such vehicles. Apart from this, there is an opportunity for specialized HVAC systems to be used in refrigerated trucks and trailers in the food and beverage industry.
Recent developments witnessed in the trucks and trailer HVAC market development include the emergence of soy-based insulation materials, wireless control of HVAC activities, and a combination of HVAC and automobile. These developments improve productivity, increase the level of efficiency, and enhance the performance and operation of the entire system or vehicle. Furthermore, the expansion of telematics and IoT devices has resulted in drastic operational data and analytics for fleet managers' management, with respect to HVAC, for example, to reduce expenses.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Trucks And Trailer HVAC Market Drivers
Increasing Demand for Enhanced Comfort and Safety in Trucks and Trailers
The increasing attention to driver comfort and safety is the major factor resulting in skyrocketing demand for HVAC systems for trucks and trailers. Drivers spend most of their time on the road, and it is essential for them to be alert and less weary. HVAC systems ensure the appropriate heating, cooling, and ventilation in the drivers’ cabins. As a result, a proper and comfortable temperature is maintained, and the air in the cabin circulates, which is crucial for safety.Moreover, modern HVAC systems offer automatic temperature maintenance, air circulation with filtration, and humidity control. All mentioned peculiarities are efficient in facilitating the overall driving experience and positively affecting driver well-being.
Expansion of E-Commerce and Logistics Industry
The rapid growth of e-commerce and logistics has resulted in a significant increase in the number of trucks and trailers on the road. This growth has created a demand for reliable and efficient HVAC systems to maintain the quality and freshness of goods during transportation. HVAC systems play a crucial role in regulating temperature and humidity levels inside refrigerated trucks and trailers, ensuring that perishable goods, such as food and pharmaceuticals, maintain their integrity and freshness throughout the supply chain.As the e-commerce and logistics industry continues to expand, the demand for advanced HVAC systems in trucks and trailers is expected to rise.
Government Regulations on Emissions and Fuel Efficiency
Stringent government regulations aimed at reducing emissions and improving fuel efficiency have spurred the development of advanced HVAC systems for trucks and trailers. These regulations have led to the adoption of more efficient and environmentally friendly HVAC technologies, such as electric compressors, variable-speed fans, and waste heat recovery systems. By incorporating these technologies, HVAC systems can minimize energy consumption and reduce greenhouse gas emissions, contributing to the overall sustainability goals of the transportation industry.
Trucks And Trailer HVAC Market Segment Insights
Trucks And Trailer HVAC Market Vehicle Type Insights
The overall truck and trailer HVAC market is subdivided by vehicle type into two main segments, this being trucks and trailers. In 2023, the trucks sector of the market is estimated to reach the most significant market share and will continue to occupy this position until 2032. This is because there is a growing demand for these vehicles for the transportation of goods worldwide. Since e-commerce is rapidly becoming a world-scale industry, businesses and individual clients require reliable and quick transport systems to deliver goods in an efficient manner.As a result, the demand for trucks increases. At the same time, the overall expansion rate of the trailer segment is measured at a constant level. The market is driven by the increasing demand for refrigerated trailers for the transportation of products. Similar results for refrigerated truck trailers can be predicted, as the food and beverage industry is expected to grow. The increasing concentration of the world’s population in city areas also causes the demand for these products. In terms of revenue, the global truck and trailer HVAC market is expected to reach rounds 4.2 billion dollars by the year 2032.Over the period from 2024 to 2032 the rate of growth in the demand for these systems will reach 4.74 %. In addition to the overall growth in the demand for trucks and trailers and in the demand for refrigerated trailers, the growing popularity of sophisticated cooling and heating equipment plays a part in this increase. At present, this market is occupied by companies such as carrier Transicold, Thermo King, and Mitsubishi Heavy Industries, all of which concentrate their efforts on the creation of more effective and energy-efficient cooling and heating systems.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Trucks And Trailer HVAC Market HVAC System Type Insights
The HVAC System Type segment of the Trucks And Trailer HVAC Market can be classified into Battery-powered HVAC Systems, Engine-powered HVAC Systems, and Hybrid HVAC Systems. Among these, Battery-powered HVAC Systems held the largest market share in 2023, accounting for around 43.2% of the Trucks And Trailer HVAC Market revenue. The growth of this segment can be attributed to the increasing adoption of electric vehicles, which require specialized HVAC systems to maintain optimal battery temperatures and passenger comfort. Engine-powered HVAC Systems accounted for the second-largest share in 2023, with a market share of around 36.5%.However, the market for Engine-powered HVAC Systems is expected to decline in the coming years as electric vehicles become more popular. Hybrid HVAC Systems, which combine both battery and engine power, are expected to gain popularity in the coming years due to their improved efficiency and reduced emissions.
Trucks And Trailer HVAC Market Application Insights
The Trucks And Trailer HVAC Market is segmented based on application into long-haul transportation, short-haul transportation, off-road vehicles, and specialized vehicles. Among these segments, long-haul transportation is expected to dominate the market with a significant market share in 2023 and is projected to maintain its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing demand for long-haul transportation services due to the expansion of e-commerce and globalization. Short-haul transportation is another major segment of the Trucks And Trailer HVAC Market, which is expected to grow at a steady pace during the forecast period.The growth of this segment can be attributed to the increasing demand for short-haul transportation services for local and regional distribution. Off-road vehicles and specialized vehicles are also expected to contribute significantly to the growth of the Trucks And Trailer HVAC Market during the forecast period.
Trucks And Trailer HVAC Market Electric Power Insights
The Trucks And Trailer HVAC Market is segmented into Electric Power, Hybrid Power, and Diesel Power. In 2023, the Trucks And Trailer HVAC Market revenue for Electric Power segment was valued at USD 2.77 billion and is projected to reach USD 4.2 billion by 2032, driven by rising government incentives for electric vehicles and technological advancements in battery technology. Hybrid Trucks And Trailers segment is also expected to witness significant growth due to their ability to reduce fuel consumption and emissions compared to diesel-powered vehicles.However, Diesel Trucks And Trailers segment is still expected to hold a dominant market share due to their lower upfront cost and wider availability of diesel fuel.
Trucks And Trailer HVAC Market Category Insights
The Trucks and Trailer HVAC market is segmented by category into Original Equipment Market (OEM) and Aftermarket. The OEM segment accounted for a larger share of the market in 2023, and is expected to continue to dominate the market over the forecast period. This is due to the increasing demand for new trucks and trailers, as well as the growing popularity of factory-installed HVAC systems. The Aftermarket segment is expected to grow at a faster rate than the OEM segment over the forecast period, as more and more truck and trailer owners are choosing to replace or upgrade their HVAC systems.This growth is being driven by the increasing availability of aftermarket HVAC systems, as well as the rising cost of OEM HVAC systems. In 2023, the Trucks And Trailer HVAC Market size was 2.77 Billion USD and it is expected to reach around 4.2 Billion USD in 2032, growing at a CAGR of 4.74% during the forecast period 2024 to 2032.
Trucks And Trailer HVAC Market Regional Insights
The regional segmentation of the Trucks And Trailer HVAC Market presents diverse market dynamics and growth opportunities. North America holds a significant share of the market, driven by the presence of leading manufacturers and a well-established transportation sector. Europe follows closely, with a focus on sustainable and fuel-efficient technologies. APAC is expected to witness substantial growth in the coming years, fueled by rising demand from developing economies like China and India. South America and MEA offer emerging markets with untapped potential for market expansion.These regional insights are crucial for businesses operating in the Trucks And Trailer HVAC Market, enabling them to tailor their strategies and capitalize on specific growth opportunities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Trucks And Trailer HVAC Market Key Players And Competitive Insights
Major players in the truck and trailer HVAC market are constantly focusing on product development to gain a competitive edge. Leading Trucks And Trailer HVAC Market players are adopting various strategies such as mergers and acquisitions to strengthen their market position and expand their global reach. The Trucks And Trailer HVAC Market is highly competitive, with a number of key players accounting for a majority of the market share. The Trucks And Trailer HVAC Market Competitive Landscape is expected to remain competitive in the coming years, with new players entering the market and existing players expanding their operations.Thermo King is a leading provider of transport temperature control solutions for a variety of applications, including trucks and trailers. The company offers a wide range of products, including refrigeration units, heating and air conditioning systems, and telematics solutions. Thermo King has a global presence, with operations in over 100 countries. The company's products are used by a variety of customers, including food and beverage companies, pharmaceutical companies, and logistics providers. Carrier is another leading player in the Trucks And Trailer HVAC Market, offering customers a wide variety of transport temperature control solutions. Carrier's products include refrigeration units, heating and air conditioning systems, and telematics solutions. The company has a global presence, with operations in over 100 countries. Carrier's products are used by a variety of customers, including food and beverage companies, pharmaceutical companies, and logistics providers.
Key Companies in the Trucks And Trailer HVAC Market Include
- Trane Technologies
- Webasto Mobile
- Indus
- Icando Renew Energy
- Valeo
- Perfect Fit Climate Systems
- Spheros
- Global Clima Cab
- Mitsubishi Electricc
- Kysor
- Hubbard
- Eberspächer
- Carrier
- Thermo King
- Revcool
Trucks And Trailer HVAC Market Industry Developments
The Trucks And Trailer HVAC Market is expected to reach USD 4.2 billion by 2032, exhibiting a CAGR of 4.74% during the forecast period (2024-2032). Rising demand for improved driver comfort, increasing adoption of electric vehicles, and growing focus on fuel efficiency are key factors driving market growth. North America and Europe are major markets, with Asia-Pacific expected to witness significant growth due to increasing urbanization and industrialization. Key players include Carrier Transicold, Thermo King, and Eberspaecher. Recent developments include the launch of new products with advanced features, such as remote monitoring and control systems.
Trucks And Trailer HVAC Market Segmentation Insights
- Trucks And Trailer HVAC Market Vehicle Type Outlook
- Trucks And Trailer HVAC Market HVAC System Type Outlook
- Battery-powered HVAC Systems
- Engine-powered HVAC Systems
- Hybrid HVAC Systems
- Trucks And Trailer HVAC Market Application Outlook
- Long-haul Transportation
- Short-haul Transportation
- Off-road Vehicles
- Specialized Vehicles
- Trucks And Trailer HVAC Market Electric Power Outlook
- Electric Trucks And Trailers
- Hybrid Trucks And Trailers
- Diesel Trucks And Trailers
- Trucks And Trailer HVAC Market Category Outlook
- Original Equipment Market
- Aftermarket
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.64(USD Billion) |
| Market Size 2023 |
2.77(USD Billion) |
| Market Size 2032 |
4.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.74% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Trane Technologies, Webasto Mobile, Indus, Icando Renew Energy, Valeo, Perfect Fit Climate Systems, Spheros, Global Clima Cab, Mitsubishi Electricc, Kysor, Hubbard, Eberspächer, Carrier, Thermo King, Revcool |
| Segments Covered |
Vehicle Type, HVAC System Type, Application, Electric Power, Category, Regional |
| Key Market Opportunities |
Growing demand for refrigerated transportation Technological advancements Government regulations for vehicle emissions Need for improved fuel efficiency Rising ecommerce industry |
| Key Market Dynamics |
Environmental regulations Technological advancements Growth in freight transportation Digitalization Increasing demand for comfort and safety |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Trucks And Trailer HVAC Market is expected to reach a valuation of USD 2.77 Billion in 2023 and is projected to grow at a CAGR of 4.74% to reach USD 4.2 Billion by 2032.
The growth of the Trucks And Trailer HVAC Market is primarily driven by increasing demand for refrigerated transportation, stringent regulations regarding temperature control of perishable goods, and rising adoption of advanced HVAC systems for enhanced efficiency and comfort.
North America is expected to hold the largest market share in the Trucks And Trailer HVAC Market, owing to the presence of a well-developed transportation and logistics industry and strict regulations regarding the transportation of perishable goods.
HVAC systems in trucks and trailers are primarily used for temperature control of perishable goods, such as food, beverages, and pharmaceuticals. They also provide heating and cooling for driver comfort and maintain optimal operating conditions for sensitive equipment.
Some of the key competitors in the Trucks And Trailer HVAC Market include Carrier Transicold, Thermo King, Mitsubishi Heavy Industries, and Eberspächer.
Key trends shaping the Trucks And Trailer HVAC Market include the adoption of electric and hybrid vehicles, increasing demand for sustainable and energy-efficient solutions, and the growing use of telematics and IoT for remote monitoring and control of HVAC systems.
The Trucks And Trailer HVAC Market is expected to grow at a CAGR of 4.74% from 2024 to 2032.
Challenges faced by the Trucks And Trailer HVAC Market include rising raw material costs, stringent environmental regulations, and intense competition from low-cost manufacturers.
Opportunities for growth in the Trucks And Trailer HVAC Market include increasing demand for refrigerated transportation in emerging economies, technological advancements leading to improved efficiency and performance, and growing adoption of rental and leasing options.
The Trucks And Trailer HVAC Market is segmented by type (mechanical, electrical, and hybrid), application (refrigerated transportation, dry freight, and others), and region (North America, Europe, Asia Pacific, and Rest of the World).
