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. These motors find applications in air curtains, condenser units, chiller
units, exhaust fans, fan coil units, and blowers. Additionally, these motors
are also used for variable torque electronic controls, which are ultimately
used to conserve electricity.
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.
Industry
Segmentation
The global HVAC motors market has been segmented based
on type, application, and end-use. On the basis of application, the market has
been classified into heating equipment, ventilation equipment, and cooling
equipment. Within the heating equipment segment, the heat pumps subsegment is
likely to dominate the market, owing to their evolving capabilities including
performing both, space-cooling and heating functions, along with the ability to
heat water. Within the ventilation equipment segment, the air handling
subsegment is expected to dominate the market, mainly due to the ambient air
that these motors draw.
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Regional
Outlook
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.
Leading
Players
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).
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