Press release
HVAC Electronically Commutated Motor Market to Hit $13.13 Bn by 2028; Kollmorgen, Allied Motion Technologies Inc., maxon, Nidec Motor, Siemens, Bühler Motor, ASTRO, Parker Hannifin, WEG, ABB,
Rising Indoor Pollution Levels Worldwide to Boost the Market
Household air pollution has become a major threat to public health, emerging as one of the most prominent causes of premature deaths worldwide. According to the World Health Organization (WHO), indoor air pollution kills approximately 4 million people every year. The leading cause for these deaths, as highlighted by the WHO, is the widespread use of fossil fuel-based stoves by roughly 3 billion people around the globe. In the US, according to the US Environmental Protection Agency (EPA), concentrations of pollutants indoors are typically 2 to 5 times higher than in outdoor environments. HVAC electronically commutated motor systems can play a critical role in lowering the concentration of pollutants floating around in homes. The installation of such systems in homes and commercial spaces can improve air quality and foster healthy living and working.
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Market Segments
By application, the market has been segmented into residential, commercial, and industrial. Here, the commercial segment led the market with a share of 40.7% in 2020.
Based on motor type, the market has been divided into brushless DC motors, permanent magnet AC motors, and servo motors. On the basis of product type, the market has been classified into constant airflow, constant torque, and constant speed. In terms of geography, the market has been clubbed into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
COVID-19 Impact
The COVID-19 pandemic has gravely injured the HVAC electronically commutated motor market growth, with the market registering a negative CAGR of -13.35% in 2020 and reaching a value of USD 7.89 billion in 2021. Measures undertaken to contain the spread of the virus, such as lockdowns and trade restrictions, have created unprecedented upheavals across all major industries. Since advanced HVAC systems are extensively deployed across industries, such as aviation, automotive, and oil & gas, disruptions in these sectors have hampered the adoption of HVAC ECMs, which in turn has impacted the market.
Click here to get the short-term and long-term impact of COVID-19 on this market.
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Highlights of the Report
The report offers unmatched insights into the factors driving, constraining, and shaping the growth of the market, HVAC electronically commutated motor market along with a unique 360-degree analysis of the key market segments. In addition, the report contains a granular examination of the regional developments impacting the market and provides careful profiling and in-depth assessment of the key market players and their strategies.
Driving Factor
Economic Advantages of EC Motors to Fuel the Market
HVAC electronically commutated motor units offer a host of advantages compared to a permanent split capacitor (PSC) motor. The principal benefit of an ECM system is the energy savings it ensures. Estimations released by the US Department of Energy show that during periods of heavy heating and cooling, a high-efficiency ECM can save up to 25% of the annual motor operating costs. In times of continuous fan demand, the energy savings of EC motors are even higher. Moreover, the soft start/stop feature of HVAC ECM systems allows them to decrease the sudden noise changes that are otherwise noticeable in household settings. EC motors also facilitate greater indoor comfort than PSC-driven systems as the continuous fan mode built into ECMs, coupled with the low-speed option, reduces noise as well as prevents draft.
Regional Insights
High Energy Demand to Drive the Market in Asia Pacific
Asia Pacific is home to some of the fastest developing economies in the world, primarily India and China. The enormous demand for energy in these two countries is expected to aid Asia Pacific to dominate the HVAC electronically commutated motor market share during the forecast period. Furthermore, the growing demand for improved indoor air quality in the region will also support the expansion of the market. In 2020, the Asia Pacific HVAC ECM market size stood at USD 2.57 billion, holding a global market share of 36.15%.
The market in North America will be driven by the supportive government regulations governing air pollution levels in the US and Canada and increasing energy consumption. Europe is set to present
lucrative opportunities due to the advancements in the region’s manufacturing and processing industries, creating demand for HVAC electronically commutated motor units.
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Competitive Landscape
Exciting New Launches by Key Players to Boost Competition
The competitive spirits in this market are being stoked by the launch of new HVAC electronically commutated motor solutions by key players. The introduction of novel products is enabling companies to entrench their market position through the demonstration of their innovation capabilities and expand their global footprint.
Industry Development:
January 2020: ABB launched the Baldor-Reliance EC Titanium™ product line, its new integrated motor drive with 16% more efficiency gains. The product leverages Ferrite Assisted Synchronous Reluctance technology to meet and surpass the IE5 efficiency standards.
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