HVAC Motors Market Overview:
HVAC Motors Market is projected to be worth USD 21.2 billion, registering a CAGR of 8.02% during the forecast period (2022-2030). The market was valued at USD 12.65 billion in 2020.
HVAC motors can be used in a variety of applications where highly reliable and efficient motors are required. These motors can be designed with different electrical starting arrangements and constructions according to customer requirements. These motors find applications in air curtains, condenser units, chiller units, exhaust fans, fan coil units, and blowers. Additionally, these motors are also used for variable torque electronic controls, which are ultimately used to conserve electricity.
On the basis of type, the market is segmented into condenser fan motors, blower motors, cooling tower motors, and others. The condenser fan motors segment is estimated to dominate the market as these motors possess various features, which make them popular among customers. These motors are also suitable for mounting in any position.
Market Research Analysis
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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Scope of the Report
This report provides an in-depth analysis of the global HVAC motors market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, the Middle East Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global HVAC motors market by type, application, end-use, and region.
By Type
- Condenser Fan Motors
- Blower Motors
- Cooling Tower Motors
- Others
By Application
- Heating Equipment
- Ventilation Equipment
- Cooling Equipment
By End-Use
- Commercial
- Residential
- Industrial
By Region
- North America
- Asia-Pacific
- Europe
- Middle East Africa
- South America
Key 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), among others.
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