“The report on HVAC Motor Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter’s five forces.
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HVAC Motor Market: Overview
- The global HVAC motor market is expected to register a CAGR of ~6% (volume) between 2022-2031. The market is projected to be driven by growing demand for HVAC motors in industries.
- Not only automotive, petrochemical, agriculture, and food & beverages, other end users such as power plants, mining, manufacturing, and marine are also expected to boost the HVAC motor market in the near future
- The global HVAC motor market is expected to reach ~US$ 19.8 Bn by 2027 from ~US$ 13.9 Bn in 2019
- North America holds major share of the HVAC motor market in terms of volume and is anticipated to dominate the HVAC motor market during the forecast period, followed by Europe
- North America remains the leading region in the HVAC motor market, with revenues in 2019 estimated at US$ 4,969.2 Mn
- The HVAC motor market in Middle East & Africa and South America are also expected to show moderate growth during the forecast period.
- Asia Pacific is projected to expand significantly in terms of share in the global HVAC motor market during the forecast period. This is due to increasing awareness about energy conservation, improving industrial infrastructure, and rising acceptance of electric vehicles, which are enhancing the demand for HVAC motors in the Asia Pacific region. Furthermore, the HVAC motor market is expected to expand at a significant rate due to growing HVAC industry, and strict regulations pertaining to power & energy consumption across the APAC region.
HVAC Motor Market: Definition
- The HVAC motor market report provides analysis of the global HVAC motor market for the period 2017 – 2027, wherein 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
- The study on the HVAC motor market would help clients in understanding the adoption analysis of HVAC motors among different industries.
- HVAC motors are designed to ensure noiseless and smooth operation of HVAC units within HVAC systems. HVAC motors are commonly utilized in roof ventilators, air coolers, air circulators, and condensing units. Moreover, HVAC motors are utilized to cater to the requirements of residential heating, ventilation, air conditioning, and commercial building air conditioners. Other than providing people with comfort, they also help improve the indoor air quality.
North America HVAC Motor Market: Snapshot
North America is a developed region and hence innovation and new technologies are expected to be trends witnessed in the North America region in the next few years. North America held a prominent share of the global HVAC motor market in 2018. For the same reason, North America is expected to see highest opportunity addition in the HVAC motor market globally, with Europe and Asia Pacific being the next closest regions.
Key Growth Drivers of HVAC Motor Market
- Rising production of automobiles
- The surge in demand for efficient machine control in the automotive industry, due to the extensive adoption of efficient HVAC motors is one of the important factors accelerating the demand for HVAC motors across the globe. Additionally, HVAC motors are widely used in automobiles to support HVAC systems in a vehicle, such as for defrosting the windows, regulation of internal temperature, as well as engine cooling which are main elements of automobiles. Furthermore, growing advancement and increasing production of passenger cars across the world is fueling the demand for HVAC motors, as these motors are used in automobiles in some common applications such as air conditioning blowers and fan motors.
- Increasing usage of HVAC motors in wide range of applications
- Increasing usage of HVAC motors is seen in a wide range of applications such as motor vehicles; industrial machinery; heating, ventilating, and cooling equipment (HVAC); aerospace & transportation; household appliances; and other commercial applications, to ensure ideal atmospheric conditions in industrial set ups or operations where temperature fluctuations can result in significant performance shortfalls.
- HVAC motors are mainly designed for wet, and high humidity environments that can meet the needs of common applications i.e. belted or drive shaft chiller /cooling towers, which further minimizes friction during operation and increases efficiency. HVAC motors are used in these applications to generate strain, substantial vibration, and heating during their performance, which could possibly have significant influence on electronic components.
Key Challenge for HVAC Motor Market Players
- High initial cost of energy efficient HVAC motors is a major restraint to the HVAC motor market
HVAC Motor Market: Competition Landscape
- In July 2018, Nidec Corporation acquired 100% equity shares of an Italian company CIMA S.p.A. (“CIMA”), from its main shareholders for cash of US$ 21.95 Mn. CIMA manufactures, designs, and sells commercial motors. Through this acquisition, a subsidiary of Nidec i.e. FIR Elettromeccanica S.r.l., expanded its product portfolio of motors.
- In April 2018, Regal-Beloit Corporation acquired Nicotra Gebhardt S.p.A for approximately US$ 154 Mn, in order to provide energy efficient system solutions to its customers.
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HVAC Motor Market: Company Profile Snapshot
- Siemens AG: Established in 1847, Siemens AG is a technology company providing solutions in the field of electrification, automation, and digitalization. The company primarily operates through nine business segments that include Power & Gas, Mobility, Building Technologies, Digital Factory, Healthineers, Process Industries & Drives, Siemens Gamesa Renewable Energy, Energy Management, and Financial Services (SFS). The company offers HVAC motors with a comprehensive product portfolio, under the Digital Factory business segment.
- General Electric: Incorporated in 1892, General Electric is a supplier of automation and control technology and services for power generation, and related applications. The company was established in 1892 and operates under seven business segments: Aviation, Power, Renewable Energy, Healthcare, Transportation, Oil & Gas, and Energy Connections & Lighting. General Electric has presence in approximately 120 countries across the world and is engaged in designing HVAC motors.
- Panasonic Corporation: Incorporated in 1918, Panasonic Corporation develops electronic and electrical products with its subsidies globally under the Panasonic brand name. The company produces home appliances, car navigation systems, computer peripherals, telecommunication equipment, industrial equipment, digital devices, and electronic parts. It offers landline phone services under the appliance business segment. The company is engaged in designing HVAC motors to meet the needs of residential heating, ventilation, air conditioning, and large building air conditioners.
- Other major players operating in the global HVAC motor market and profiled in the report include
- Rockwell Automation Incorporation
- Nidec Corporation
- Regal-Beloit Corporation
- Johnson Electric Holdings Limited
- Emerson Electric Corporation
- W.W. Grainger, Inc.
HVAC Motor Market – Scope of the Report
A latest study analyzes the historical and present-day scenario of the global HVAC motor market, to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the HVAC motor market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the HVAC motor market will progress during the forecast period 2019-2027.
The report offers intricate dynamics about the different aspects of the HVAC motor market, which aids companies operating in the market in making strategic development decisions. The study also elaborates on the significant changes that are highly anticipated to configure the growth of the HVAC motor market, during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the HVAC motor market and estimate statistics related to the market progress in terms of value (US$ Mn) and volume (Thousand Units).
The study covers a detailed segmentation of the HVAC motor market, along with key information and a competitive outlook. The report mentions the company profiles of key players currently dominating the HVAC motor market, wherein various developments, expansion, and winning strategies practiced and executed by leading players have been presented in detail. Furthermore, the report also mentions the import and export data of HVAC motors of top countries with industrial production index.
Key Questions Answered in the Report on the HVAC Motor Market
The report provides detailed information about the HVAC motor market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the HVAC motor industry, so as to help them formulate successful strategies and take target-driven decisions.
- How are key market players successfully earning revenue out of the advantages of HVAC motors?
- What will be the Y-o-Y growth of the HVAC motor market between 2019 and 2027?
- What are the winning imperatives of market frontrunners in the HVAC motor market?
- Which industry is expected to undertake maximum adoption of HVAC motors during the forecast period?
- What is the import and export analysis of top countries for HVAC motors across the globe?
Research Methodology – HVAC Motor Market
The research methodology adopted by analysts to compile the HVAC motor market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the HVAC motor market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the HVAC motor market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, and import and export data of major countries of the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the HVAC motor market.
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Table of Content
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global HIV Self-test Kits Market
4. Market Overview
4.3. Market Dynamics
4.4. Global HIV Self-test Kits Market Analysis and Forecast, 2017–2027
5. Market Outlook
5.1. Price and Brand Analysis
5.2. Pipeline Analysis
5.3. Epidemiological Overview
5.4. Number of HIV Self-tests, by WHO Region
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