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.
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 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.
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).
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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