HVAC motors is used to provide power to HVAC systems for heating, cooling, and air circulation. These motors are designed for perform quiet operation with reduced vibration and it ranges from sizes from 0.18 kW to 75 kW. The motors are deployed for commercial applications and heavy industrial machines which comprises of exhaust fans, direct drive, air conditioning units, belted fans, ventilators, unit heaters, and commercial refrigeration condensers.
The value of the HVAC motor market is projected to grow to $21.2 Billion with an estimated CAGR of 8.02% by 2027
These motors are designed to support variable torque electronic controls that are used to conserve power. In addition, HVAC pumps are capable of delivering high operational efficiencies that minimizes electricity and energy consumption which in turn enhances to overall comfort across outdoor and applications. These technology is used to monitor, control and perform required actions for indoor environments. The rising urban population along with growing industrialization across the globe is stimulating the industry outlook.
Shift toward minimal electrify consumption and attaining energy efficiency is driving the industry
Positive industrial outlook leading to optimum power consumption and energy conservation across the countries is anticipated to provide impetus to the HVAC motor industry. The growing demand for energy efficient motors owing to strict electricity consumption standards and surging electricity prices is driving the product demand. Strict manufacturing norms to attain optimum power consumption along with achieving high efficiency across the heavy industries is contributing in the adoption of HVAC motors.
Shifting consumer inclination toward efficient solutions along with minimum running costs, high efficiency, and service affordability, is fuelling the product demand. Ongoing upsurge in automobile production is one of the major factors which has positively impacted growth of the global HVAC motor industry. Increase in adoption rate of electric vehicles across owing to rising carbon level and achieve sustainability is anticipated to contribute in the industry upsurge in the coming years.
Industrial segment dominates the application share
In terms of application, industrial sector is analysed to be the major shareholder for the industry. The ongoing shift toward sustainable power consumption owing to strict government regulations to achieve energy efficiency is augmenting the product demand. The substantial growth across food & beverage, pharmaceutical, automobile industry have significantly contributed in the market upsurge. The motors capability to operate in the harsh and extreme conditions further favours the adoption across multiple industries. Moreover, rising concern toward sustainable energy consumption and optimum power utilization is further complimenting the business outlook.
Asia-Pacific holds the major share
Asia Pacific is analysed to hold major industry share across the HVAC motor industry. Supportive government initiatives including favourable subsidies to attract industry players to establish manufacturing is driving the industrial outlook. Furthermore, growing population across the region along with rising focus toward sustainable consumption is fuelling the product demand. Rising disposable income coupled with improving living standard is further proliferating the industry growth.
The regions holds major share owing to increasing consumer preferences toward advanced technology which utilized optimum power consumption. The surging demand for residential heating, ventilation & air conditioning, electronic gadgets and home appliances, is significantly contributing the industry upsurge. Furthermore, rising focus toward integration of renewable energy and adopting the technology for heating and cooling applications is anticipated to escalate the industry growth in the coming years.
Key Market Players
• General Electric
• Panasonic Corporation
• Siemens AG
• W.W. Grainger, Inc.
• Nidec Motor Corporation
• Hoyer Motors
• Rockwell Automation Incorporation
• Johnson Electric Holdings Limited
• Regal-Beloit Corporation
• Baldor Electric Incorporation
HVAC motor market Scope
|Revenue forecast in 2027
|CAGR of 8.02 % during 2021-2027
|by Type, Application, End-Use, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|ABB (Switzerland), Siemens (Germany), Nidec Corporation (Japan), Wolong (China), WEG (Brazil), Johnson Electric (China), Regal Beloit Corporation (US), Toshiba Corporation (Japan), TECO Electric & Machinery (Taiwan), Hyosung Heavy Industries (South Korea), and others
Key Segment Of The HVAC motor Market
By Type, 2020-2027 (USD Million)
• Condenser Fan Motors
• Blower Motors
• Cooling Tower Motors
By Application, 2020-2027 (USD Million)
• Cooling Equipment
By End-Use, 2020-2027 (USD Million)
Regional Overview, 2020-2027 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa