Global HVAC motors Market 2020 Industry research report provides an In-Depth analysis that includes an executive summary, definition, and scope of the market.
HVAC motors Market Research Report - Global Forecast
till 2023
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.
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.
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Industry Highlights
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.
HVAC systems are becoming increasingly popular in Asia Pacific, where the
consumers are enjoying rising levels of disposable income and prosperity,
leading to increasing purchases of HVAC systems. The growing industrial sector
around the world is also likely to drive the demand from the global HVAC motors
market over the forecast period, as HVAC motors are crucial in ensuring ideal
atmospheric conditions in industrial setups where temperature fluctuations can
result in significant performance deficits.
Asia-Pacific is estimated to be the fastest growing
market for HVAC motors.
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.
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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.
Global HVAC Motors Industry 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.
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