HVAC motors market is predicted to grow by more than 7% by 2023 | Top Players: WEG, Regal Beloit Corporation, Honeywell International, Ingersoll-Rand Plc, Johnson Controls, Mitsubishi Electric, Danfoss, Hitachi

HVAC Motors Market Scenario:

The global HVAC motors market is expected to witness a high growth rate during the forecast period, owing to the growing construction sector, across the globe. HVAC motors can be used in a variety of applications where highly reliable and efficient motors are required.

These motors can be designed with different electrical starting arrangements and constructions according to customer requirements. These motors find applications in air curtains, condenser units, chiller units, exhaust fans, fan coil units, and blowers. Additionally, these motors are also used for variable torque electronic controls, which are ultimately used to conserve electricity.

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The global HVAC motors market is expected to grow at a high rate during the forecast period, mainly due to the stringent regulations regarding energy efficiency. Many key players have started developing motors, which are technologically advanced and provide high energy-efficiency. For instance, in 2017, ABB set a record in energy efficiency by developing a 44 MW 6-pole synchronous motor, which has an efficiency level higher than 98.9 %. Moreover, policymakers also have taken the initiative to identify opportunities for the increased use of high energy motors.

HVAC Motors Market Leading Players:

Some of the key players in the global HVAC motors market are WEG (Brazil), Regal Beloit Corporation (US), Honeywell International Inc. (US), Ingersoll-Rand Plc, (Ireland), Johnson Controls (US), Mitsubishi Electric (Japan), Danfoss (Denmark), Hitachi (Japan), LG Electronics (South Korea), ABB (Switzerland), Siemens (Germany), Bosch Rexroth (Germany), and GE (US), among others.

HVAC Motors Market Segmental Overview:

The global HVAC motors market has been segmented based on type, application, and end-use.

The global HVAC motors market has been segmented based on type into condenser fan motors, blower motors, cooling tower motors, and others. The condenser fan motors segment is expected to dominate the market, as these motors possess various features, such as heavy-gauge steel frame construction and ball bearings, make them popular among customers. These motors can also be mounted in any position.



HVAC Motors Industry Regional Analysis:

The global HVAC Motors market covers its growth opportunities and current trends across North America, Asia-Pacific, Europe, South America, Middle East and Africa.

Asia-Pacific held the largest market share of the global HVAC motors market. It is also expected that the region would continue to be the largest market during the forecast period. In Asia-Pacific, China held the largest share in the HVAC motors market, owing to several beneficial government policies. For instance, the Ministry of Housing and Urban-Rural Development of P.R. China (MOHURD) implemented certain standards and protocols related to construction policies regarding HVAC motor installations.

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Table Of Contents

1. Executive Summary

2. Market Introduction

2.1. Market Definition

2.2. Scope Of The Study

2.3. Market Structure

3. Research Methodology

3.1. Primary Research

3.2. Secondary Research

3.3. Market Size Estimation

3.4. Forecast Model

3.5. List Of Assumptions

Continued…..

List Of Figures

Figure 1 Research Process Of MRFR

Figure 2 Top-Down And Bottom-Up Approach

Figure 3 Market Dynamics

Figure 4 Impact Analysis: Market Drivers

Figure 5 Impact Analysis: Market Restraints

Figure 6 Porter's Five Forces Analysis

Figure 7 Value Chain Analysis

To be Continued……

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This release was published on openPR.