Global HVAC Motor Market– Introduction
- HVAC motors help to maximize the power and life of HVAC systems. HVAC motors are used as high-speed motors for commercial heating, cooling, and air circulation.
- HVAC (Heating, Ventilation, and Air Conditioning) motors are designed with dynamically balanced rotors for quiet operation and reduced vibration. HVAC motors range in different sizes from 0.18 – 75 kW (1/4 - 100 HP).
- HVAC motors are used in designing heavy duty industrial machines as well as for commercial applications that include direct drive and belted fans, ventilators, exhaust fans, air conditioning units, commercial refrigeration condensers, and unit heaters. HVAC motors are designed with variable torque electronic controls which are used to conserve electricity. Additionally, HVAC pumps are used to deliver exceptionally high operating efficiencies, which can minimize energy use and electricity, so as to improve overall comfort in indoor and outdoor applications.
- HVAC (Heating, Ventilation, and Air Conditioning) is the technology to monitor and control vehicular and indoor environments.
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Global HVAC Motor Market–Dynamics
Key Drivers of the HVAC Motor Market
- Growing industrialization in developing and developed countries is expected to drive the HVAC motor market during the forecast period.
- The rising demand for energy-efficient HVAC motors is mainly driven by stringent electricity consumption standards and increasing electricity prices across the world. This is expected to accelerate the global HVAC motor market over the next few years.
- Furthermore, stringent designing and manufacturing standards to improve their efficiency is further encouraging manufacturers to develop highly efficient products, which is expected to boost the HVAC motor market.
- Shifting consumer preference for energy-efficient solutions with superior efficiency, service affordability, and minimum running costs are expected to fuel the growth of the HVAC motor market.
- Continuous growth in automobile production is also one of the important factors boosting the growth of the global HVAC motor market across the globe.
- Rising adoption of electric vehicles across both developed and developing economies is surging the growth of the HVAC motor market. Demand for electric vehicles is expected to record accelerated growth in the upcoming years and HVAC motors are a crucial part in these vehicles. This in turn is expected to boost the growth of the HVAC motor market.
- One million units of electric cars were sold in 2017 across the globe. China has the world’s largest electric car market and recorded a sale of approximately 580,000 electric cars in 2017.
- Other major factors driving the growth of the HVAC motor market are rising demand to bring down energy consumption, increasing energy security concerns among consumers, and government tax rebates and tax credit programs.
Asia Pacific to Hold Major Share of the Global HVAC Motor Market during the Forecast Period
- Asia Pacific is expected to hold a significant share of the global HVAC motor market during the forecast period due to the growing urbanization and increasing population that has led to the increase in commercial and residential constructional activities.
- Furthermore, rapid industrialization and the fast growing economy in India and China has resulted in high adoption of energy efficient products in the agricultural, industrial, and automotive sectors, which in turn is expected to drive the demand for HVAC motors over the next few years.
- The HVAC motor market in Europe is anticipated to expand at a significant rate during the forecast period due to growth of automotive and manufacturing sectors in the region. This in turn is expected to propel the market in the region in the next few years.
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Global HVAC Motor Market–Competition Landscape
Key Players Operating in the Global Market
- The global HVAC motor market is highly concentrated with top manufacturers accounting for approximately 35%–40% of the market share. A few of the key players operating in the global HVAC motor market are listed below:
- ABB Motors and Mechanical Inc.
- W.W. Grainger, Inc.
- General Electric
- Panasonic Corporation
- Nidec Motor Corporation
- Siemens AG
- Hoyer Motors
- Johnson Electric Holdings Limited
- Rockwell Automation Incorporation
- Baldor Electric Incorporation
- Regal-Beloit Corporation
Global HVAC Motor Market–Research Scope
The global HVAC Motor Market can be segmented based on:
- Voltage Range
- Distribution channel
Global HVAC Motor Market, by Type
Based on type, the global HVAC motor market can be divided into:
- Stepper Motors
- Linear Motors
- Servo Motors
- DC Brushless Motors
- DC Brushed Motors
- AC Brushless Motors
Global HVAC Motor Market, by Power
On the basis of power, the global HVAC motor market can be segmented into:
- AC motor
- DC motor
Global HVAC Motor Market, by Voltage Range
Based on voltage range, the global HVAC motor market can be classified into:
- 9 V & below
- 10-20 V
- 21-60 V
- 60 V & above
Global HVAC Motor Market, by Speed
Based on speed, the global HVAC motor market can be classified into:
- Low-speed electric motors (less than 1,000 rpm)
- Medium-speed electric motors (1,001-25,000 rpm)
- High-speed electric motors (25,001-75,000 rpm),
- Ultrahigh-speed electric motors (greater than 75,001 RPM)
Global HVAC Motor Market, by Distribution Channel
Based on distribution channel, the global HVAC motor market can be segregated into:
- Direct sales (OEM)
- Indirect sales
- HVAC motor customers
Global HVAC Motor Market, by Application
Based on application, the global HVAC motor market can be categorized into:
- HVAC Equipment
- Drying Process
Global HVAC Motor Market, by Industry
On the basis of industry, the global HVAC motor market can be categorized into:
- Food & Beverages
- Oil & Gas
- Manufacturing Plants
- Aerospace & Transportation
- Industrial Machinery
- Power plants
Global HVAC Motor Market, by Region
Based on region, the global HVAC motor market can be categorized into:
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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