A HVAC drive is the mechanical device which is designed to bring optimized process control to all heating, ventilation and air conditioning (HVAC) applications. Heating, ventilation, and air conditioning is a mechanical technique of providing comfort indoors as well as in vehicles. The main characteristic of HVAC drives is to provide thermal comfort and acceptable indoor air quality. The significant factor impacting the HVAC drive market is rising demand for power and electricity, industrialization, and urbanization. Global warming and climatic change have become evident over the past few decades. This expands the market for HVAC drives at a significant rate due to deployment of indoor temperate. Countries with high climatic fluctuations and hot weather are expected to be the largest markets for HVAC drives. Rising demand for construction of smart buildings and smart cities are anticipated to enhance the demand for HVAC drives during the forecast period.

Rising construction activities, expansion of industrial verticals, stringent government regulations regarding power consumption, improving lifestyle, and disposable income are expected to increase the demand for HVAC drives during the forecast period. The installation of HVAC drives has increased inside buildings due to their advanced energy-saving features. Opportunities for energy optimization exist across all buildings from small to large, particularly in the APAC region, where the number of households has increased over the last decade. According to the United Nations, urbanization in Asia will reach 64.1% by 2050, which will open up more opportunities for the construction industry in the region and impact the HVAC drive market during the forecast period. Companies invest huge amounts in R&D to manufacture innovative, cost effective, and energy efficient hybrid HVAC drive equipment.

High cost of HVAC drives hampers the growth of the market. In addition, pollution caused by HVAC systems hinders the growth of the market. Climatic conditions of different regions can have an adverse effect on the lifecycle of these systems. Regions that have damp climatic conditions tend to decrease the life span of ventilation, heating, and air conditioning systems due to their corrosive effects, which is projected to hinder the growth of the HVAC drive market.

The HVAC drive market can be segmented in terms of capacity, application, and end-use. Based on capacity, the HVAC drive market can be segmented into below 10 kw, 10-100 kw, and more than 100 kw. On the basis of application, the market is segmented into air handling units, cooling towers, and pumps. Based on end-use, the HVAC drive market is segmented into residential, commercial, and industrial sector.

The HVAC drive market is segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America. Extensive tourism industry and real estate in Europe is expected to fuel the demand for HVAC drives during the forecast period. HVAC units dominate the North American market due to the rising real estate sector and well established service industries. Implementation of government rules and regulations and rising construction activities, and a steady industrial base are anticipated to drive the HVAC drive market during the forecast period. The market in Asia Pacific is expected to expand at a significant rate due to increasing population and standard of living of the people. Middle East & Africa is anticipated to be a highly productive market for HVAC drives over the forecast period. Middle East & Africa has hot climate throughout the year which has encouraged governments to increase efforts in the improvement of infrastructure in MEA countries. This is anticipated to fuel the demand for HVAC drives during the forecast period. For example, bus stops in Dubai are equipped with air conditioners in order to maintain lower temperatures in sheltered areas during the hot weather.

The major industrial players of the HVAC drive market are Mitsubishi Electric, Johnson Controls, Fuji Electric, Hitachi, ABB HVAC drive, Qm Power,Toshiba etc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Hvac Drive Market

Pre Book