HVAC Motors Market 2019 Business Growth Opportunities, Competitive Landscape and Potential of the Industry Till 2023
The global AC motors market is estimated to expand at 6.90% CAGR during the forecast period. HVAC motors are designed with balanced rotors to reduce vibrations and noiseless operations. These motors generally have a power rating ranging from 0.18 kW to 75 kW. Additionally, the horsepower of these motors might vary from 0.25 HP to 100 HP. These motors are primarily used in heavy-duty industrial and commercial end-use industries. Within these end-use industries, these motors are used in ventilators, direct drive and belted fans, exhaust fans, air conditioning units, unit heaters, and refrigeration condensers.
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The increasing demand for HVAC systems to reduce energy consumption and government regulations and policies for conserving energy are some of the factors driving the global HVAC motors market. Additionally, rapid industrialization and growing GDP, especially in China and India, are presenting several growth opportunities to the global HVAC motors market. Moreover, governments across the globe are focusing on reducing energy consumption in industries and households by encouraging them to use energy-saving techniques. HVAC motors offer an ideal solution for energy saving by increasing the efficiency of the machines, thereby helping increase the growth of the global HVAC motors market.
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.
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Region wise, in 2017, 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.
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).
Scope of the Report
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps study the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global AC Motors market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis
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