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The bus compressor market is projected to reach US$ 208.21 Mn by 2031. Electric and hybrid buses are generating revenue opportunities for market stakeholders. WABCO – a global technology leader in commercial vehicle technology, is publicizing its electric air compressor, which is a standalone system involving a compressor, electrical motor, oil supply, and an oil pump.
The automotive industry is anticipated to return to its normalcy by the financial year of 2022 after the disruptions caused by the COVID-19 crisis. In a survey conducted by the Economist Intelligence Unit, the automotive sector has been affected due to a shortage of semiconductors, which led to several automakers to cut down production. This chip shortage is a result of the unprecedented demand for personal computers, laptops, and other mobile devices during the pandemic. Nevertheless, manufacturers are focusing on essential applications related to air conditioning and air brakes in buses.
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Despite challenges posed by the coronavirus, the automotive industry is witnessing increased investment in electrification. Such trends are generating value-grab opportunities for companies in the bus compressor market. Apart from buses, bus compressor market stakeholders are diversifying the production of electric vehicles (EVs).
Manufacturers are increasing the availability of electric air compressors that are capable of supporting air supply requirements for highly demanding applications such as city buses. They are innovating in electric air compressors that deliver air independently from the combustion engine and provide optimal utilization of the electric drivetrain.
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The bus compressor market is expected to clock a CAGR of 3.84% during the forecast period. This is due to lack of R&D investments in bus compressors where automotive giants have an edge over emerging market players. Nevertheless, both emerging and established market players are scaling revenue opportunities in hybrid and electric buses.
Gardner Denver – a global provider of compressors, blowers, and vacuum pumps, is gaining recognition for its one package, one installation, and one solution compressors for hybrid & commercial vehicles such as buses, trains, and coaches.
Companies in the bus compressor market are leveraging the compressed air technology, which is gaining importance for safe and reliable operation of critical applications in city buses. Apart from air conditioning, manufacturers are diversifying in braking systems, air suspensions, and doors to expand revenue streams.
The transition of the mobility sector toward full electric and hybrid power buses is acting as a key driver for the bus compressor market. Atlas Copco – a Swedish multinational industrial company, is boosting the production of bus compressors that have the ability to run from batteries network, provide high air pressures, and a class leading efficiency within compact and lightweight packages.
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Companies in the bus compressor market are providing flexible solutions for compressed air needs in buses, coaches, trucks, and custom electric and hybrid vehicles.
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