HVAC Motors Market Market Sees Explosive Growth Globally

According to the latest research report published by Market Data Forecast, the global HVAC Motors Market size is estimated at USD 17.24 billion in 2023 and is estimated to reach USD 23.23 billion by 2029 and grow with a CAGR of 6.15% during the forecast period 2024-2029.

The purpose of the heating, ventilation, and air conditioning (HVAC) motor is to ensure the quiet and efficient operation of HVAC devices. These motors are frequently found in roof ventilators, air coolers, air circulators and condensing units.

Global HVAC Motors Market Report Scope:

• Market Size (2029): USD 23.23 Billion
• Market Size (2023): USD 17.24 Billion
• CAGR (2024 to 2029): 6.15%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Type, Application, and Region.
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: ABB, Siemens, Nidec Corporation, Toshiba, Robert Bosch, and WEG. Other key players include Regal Beloit, Allied Motion Technologies, Hyosung, Shandong, General Electric, Bulher Motor GmbH, and Others.

Market Drivers:

The growing awareness of the advantages is a major factor driving revenue growth in the global HVAC motors market. HVAC systems control the temperature, humidity and airflow between interior and outdoor spaces in buildings that are commercial, residential, or industrial. In these systems, the electric motors carry out vital functions including running compressors, fans, and pumps. Electric motors come in a variety of sizes, from tiny motors used in refrigerators and other small household goods to massive motors found in furnaces found in major manufacturing facilities. Offices and factories need HVAC systems to manage the expense of heating and cooling, especially if the assembly is large and needs several temperature zones throughout the facility. These zones are kept at specific temperatures and humidity levels by bringing in fresh air from the outside.

The rising environmental concerns are predicted to drive up demand for electric motors, which will boost market revenue growth. For instance, in 2022 Hummer electric vehicles, General Motors introduced three new electric motors in September 2021 to power its range of Ultium Battery-based EVs. A 180 kW front-drive permanent magnet motor, a 62 kW all-wheel drive assist induction motor, and a 255 kW rear- and front-drive permanent magnet motor are among the latest electric motors.

Market Restraints:

Several downsides significantly impede the expansion of the global market for HVAC motors. Widespread business disruptions resulted from the high cost of COVID-19, which had an impact on labour markets, economies, startups, and large businesses. Sectors like transportation, which depends heavily on HVAC motors for fuel efficiency, were severely impacted. HVAC suppliers are further hindered by low investments in R&D, quick time to market, and difficulties implementing new technology.

The COVID-19 pandemic caused a downturn in the worldwide HVAC motors market for the following few years. Lockdowns imposed by governments in several nations have caused factories in numerous cities and provinces to close, which has raised expectations of a significant slowdown in the output from the residential to the industrial sectors. In addition, businesses are coping with lost revenue and thrown off supply chains due to the closure of manufacturing. Moreover, global economic progress is likely to get slowed down by the outbreak of this pandemic. It is expected that the HVAC motors market will suffer as a result of the downturn in economic growth.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/hvac-motors-market

Key Insights from The Report:

• Based on type, the chiller/cooling tower motors segment led the market and accounted for the largest share of the global market in 2023.
• Based on application, the heat pump segment captured the highest share of the global market in 2023.
• Asia-Pacific dominated the HVAC Motors Market in 2023. North America accounted for the second-highest share of the global market in 2023 and on the other hand, the Europe region is estimated to grow at the fastest CAGR during the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Type:
• Chiller/Cooling Tower Motors
• Fan and Blower Motors
• Condenser Fan Motors
• Shaft Grounding Motors

By Application:
• Unitary
• Furnace
• WSHP
• Air Conditioner
• Heat Pump
• Ventilator
• Air Handler
• Fan-Powered Terminal Unit

By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year, and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market Share Analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 HVAC Motors Market, By Type
6.1.1 Chiller/Cooling Tower Motors
6.1.2 Fan and Blower Motors
6.1.3 Condenser Fan Motors
6.1.4 Shaft Grounding Motors
6.1.5 Market Size Estimations & Forecasts (2024 - 2029)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 HVAC Motors Market, By Application
6.2.1 Unitary
6.2.2 Furnace
6.2.3 WSHP
6.2.4 Air Conditioner
6.2.5 Heat Pump
6.2.6 Ventilator
6.2.7 Air Handler
6.2.8 Fan-Powered Terminal Unit
6.2.9 Market Size Estimations & Forecasts (2024 - 2029)
6.2.10 Y-o-Y Growth Rate Analysis
6.2.11 Market Attractiveness Index

7. Geographical Landscape
7.1 Global HVAC Motors Market, by Region
7.2 North America - Market Analysis (2024 - 2029)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Type
7.2.3 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Type
7.6.3 By Application

8. Key Player Analysis
8.1 ABB Ltd
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Siemens AG
8.3 Nidec Corporation
8.4 Toshiba
8.5 Robert Bosch
8.6 WEG
8.7 Regal Beloit
8.8 Allied Motion Technologies
8.9 Hyosung
8.10 General Electric

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

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