The global HVAC motors market is expected to exhibit a
robust 6.90% CAGR over the forecast period from 2018 to 2023, according to the
latest research report published by Market Research Future (MRFR). The report
examines the global HVAC motors market in detail in order to profile its
leading drivers and restraints, major segments, and dominant market players.
The growing demand for HVAC systems in residential buildings and the growing
demand for environmentally viable HVAC systems are pinpointed as the major
drivers for the global HVAC motors market.
HVAC motors are crucial in ensuring smooth and
noiseless operation of HVAC units. The design of HVAC motors is intended to
reduce vibrations and provide noise-free operation. The widespread demand for
HVAC systems is likely to be the major driver for the HVAC motors market over
the forecast period.
The growing demand for environmentally sound and
sustainable HVAC systems is likely to drive significant product innovation in
the global HVAC motors market over the forecast period. HVAC motors are crucial
in ensuring an HVAC system’s adherence to environmental regulations, as
malfunctions in HVAC motors can result in major overuse of power, harmful
emissions, and other problems.
Competitive Analysis:
Leading players in the global HVAC motors market
include GE, Bosch Rexroth, Siemens, ABB, LG Electronics, Hitachi, Danfoss,
Mitsubishi Electric, Johnson Controls, Ingersoll-Rand plc, Honeywell
International Inc., Regal Beloit Corporation, and WEG.
In May 2019, ABB announced the appointment of UK-based
Betech as its first authorized UK provider of NEMA low-voltage motors.
Browse Complete
Research Report at: https://www.marketresearchfuture.com/reports/hvac-motors-market-7739
Segmentation:
The global HVAC motors market is segmented on the
basis of type, application, end use, and region.
By type, the global HVAC motors market is segmented
into condenser fan motors, blower motors, cooling tower motors, and others. The
condenser fan motors segment is likely to dominate the global HVAC motors
market over the forecast period due to their widespread demand, which is a
result of them being usable in any type of mounting.
By application, the global HVAC motors market is
segmented into heating equipment, ventilation equipment, and cooling equipment.
By end use, the global HVAC motors market is segmented
into commercial, residential, and industrial.
Regional Analysis:
Asia Pacific held the largest share in the global HVAC
motors market in 2017 and is likely to retain the lead over the forecast period
due to the growing production of HVAC units in leading electronics producing
countries such as China, South Korea, Taiwan, and Japan. China is the largest
regional market within Asia Pacific and is likely to remain in the same
position over the forecast period.
The growing residential construction and
infrastructure construction activities in Asia Pacific are expected to provide
increased scope for the HVAC motors market over the forecast period. Due to the
rapid rate of urbanization in Asia Pacific countries, the demand for urban
household appliances has shot up dramatically over the last few years. The
increasing disposable income of consumers in countries such as India, China,
Indonesia, Malaysia, Taiwan, Japan, Australia, and South Korea has also been
instrumental in driving the HVAC motors market in the region. Many countries in
Asia Pacific have announced major infrastructure construction projects in
recent years, which are likely to further the cause of the HVAC motors market
in the region over the forecast period.
Europe and North America are also major regional
segments of the global HVAC motors market and are likely to exhibit steady
growth over the forecast period due to the growing demand for environmentally
sound HVAC products. The growing demand for HVAC units for data center cooling
operations is also likely to be a major driver for the HVAC motors market over
the forecast period.
The Middle East, Latin America, and Africa are not
likely to feature prominently in the global HVAC motors market over the
forecast period, due to the low disposable incomes of consumers in these
regions, which keeps them from purchasing technologically advanced HVAC units.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact:
Market
Research Future
+1
646 845 9312
Related Reports:
Marine Hybrid Propulsion System Market
Research Report - Global Forecast 2023
Switchgear Monitoring Market
Research Report - Global Forecast till 2024
No comments:
Post a Comment