HVAC Drive Market

HVAC Drive Market: Introduction

HVAC stands for heating, ventilation, and air conditioning. A HVAC system is designed to control the environment in which it works. It achieves this by controlling the temperature of a room through heating and cooling. It also manages the humidity level in that environment by controlling the movement and distribution of air inside the room. The system also ensures cleanliness of air inside the given environment. This provides a better quality of air indoors and removes moisture, smoke, odor, heat, dust, airborne bacteria, carbon dioxide, and other gases as well as temperature control and oxygen replenishment.

Key Drivers of the HVAC Drive Market

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 to control the 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.

Regenerative Technologies Creating Opportunities in the HVAC Drive Market

In May 2019, Mitsubishi Electric announced its new FR-XC regenerative converter. Power regeneration in drives is not new to the market but the increasing focus on energy efficiency is something to focus on. The first method of adoption uses a stand-alone drive to derive regenerative benefits in applications such as cranes and hoists. The second adoption method utilizes multiple drives under a common DC bus in a multi-axis system. These methods are cost efficient and increases the demand for energy efficient devices, thus creating new opportunities in the market.

High Cost a Restraint for the HVAC Drive Market

High cost is a major drawback for the HVAC drive market. The cost related to operations, equipment, installations, maintaining power quality etc. is huge that in turn limits the market growth. Also, the life span of a HVAV drive is highly dependent on climatic conditions. Areas with damp climatic condition could have a negative impact on the lifespan of HVAC drives due to the corrosive effect. Such factors hamper the growth of the HVAC drive market.

MEA the Dominant Region

Middle East & Africa is anticipated to be a highly productive market for HVAC drives over the forecast period. Middle East & Africa has a hot climate throughout the year which has encouraged governments to increase efforts to improve 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 to maintain lower temperatures in sheltered areas during the hot weather.

Key Players Operating in the Global Market

Companies are working on product innovation and development to expand their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the major companies identified in the HVAC drive market are:

• Mitsubishi Electric
• Johnson Controls
• Fuji Electric
• Hitachi
• ABB HVAC drive
• Qm Power
• Toshiba

HVAC Drive Market: Research Scope

HVAC Drive Market, by Type

• DC Drives
• AC Drives
• Others

HVAC Drive Market, by End-user

• Industrial
• Residential
• Commercial

HVAC Drive Market, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • France
  • U.K.
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa
• South America
  • Brazil
  • Rest of South America

The report on the HVAC drive market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.