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The Global HVAC Motors Market reach USD 21.8 billion by 2027

The Global HVAC Motors Market size is estimated at USD 13.1 billion in 2021 and is estimated to reach USD 21.8 billion by 2027 and grow with a CAGR of 6.0%

HYDERABAD, TELANAGANA, INDIA, November 30, 2022 /EINPresswire.com/ -- According to the research report published by Market Data Forecast, the global HVAC Motors market size was valued at USD 13.1 billion in 2022, and it is estimated to reach USD 21.8 billion by 2027, with a registering CAGR of 6.0% during the forecast period.

The HVAC Motors is the heating and cooling systems component that sends conditioned air from the furnace, heat pump, or air conditioner into the home. Once the system heats or cools the air, the blower Motors forces it through the duct system and out the vents in rooms throughout the house. The most important products in the HVAC industry are electric Motors. It is the basic component that is responsible for powering the blower to move air. There are four main types of HVAC systems. There are spilled systems, hybrid systems, duct-free systems, and packages heating and air systems.

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Market Drivers:

The main factors that have considerably increased the demand for the HVAC Motors market. The increasing usage of HVAC Motors in a wide range of applications such as Motors vehicles, industrial machinery, heating, ventilating, and cooling equipment, aerospace & transportation, household appliances, and other commercial applications are driving the market’s revenue. The rising adoption of automobiles drives market growth. The growing demand for HVAC systems and the introduction of various government regulations and policies for conserving energy are the major factors to drive the market growth. The increasing innovations drive market growth.

Market Restraints:

The high initial cost of energy-efficient HVAC Motors is a major factor restraining market growth.

Segmentation Analysis:

HVAC Motors Market - By Type:

Chiller/Cooling Tower Motors
Fan and Blower Motors
Condenser Fan Motors
Shaft Grounding Motors
The Fan and Blower Motors segment was recorded as the largest market share in the HVAC Motors market in 2022 and it is anticipated to grow significantly during the forecast period.

HVAC Motors Market - By Application:

Unitary
Furnace
WSHP
Air Conditioner
Heat Pump
Ventilator
Air Handler
Fan-Powered Terminal Unit
The Air Conditioner held the largest share in the HVAC Motors market in 2022 and it is anticipated to grow significantly during the forecast period.

HVAC Motors Market – By End-Use:

Commercial
Residential
Industrial.
The Industrial segment held the largest share market in the HVAC Motors market in 2022 and it is anticipated to grow significantly during the forecast period.

HVAC Motors Market – By Distributional Channel:

Direct Sales
Indirect Sales
The Direct Sales segment held the largest share market in the HVAC Motors market in 2022 and it is anticipated to grow significantly during the forecast period.

Market Regional Analysis:

The Asia Pacific is the largest growing region in the HVAC Motors market and is expected to grow significantly during the forecast period. Asia Pacific has a high availability in the countries such as China, Japan, India, Indonesia, and South Korea. The reason for this dominance of the region is the growth and popularity HVAC Motors market and the growing population across the region along with a rising focus toward sustainable consumption is fuelling the product demand and this is likely to create growth in the region’s market the increasing disposable income to drive the region’s market. China is the largest market supporting the growth of HVAC Motors. There has been rapid growth in the HVAC Motors market in the region leading to global market growth.

North America is expected to be growing lucratively in the HVAC Motors market.

Latest Industry Development:

In July 2018, Nidec Corporation acquired 100% equity shares of an Italian company CIMA S.p.A., 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 Electromechanics S.r.l. expanded its product portfolio of Motors.

In August 2021, ABB, a global technology company, expands manufacturing capacity and is expected to develop energy-efficient Motors up to 55kW operating in different industrial segments such as water & wastewater, F&B, cement, metals and mining, textiles, HVAC, rubber, and others.

In April 2018, Regal-Beloit Corporation acquired Nicotra Gebhardt for approximately US$ 154 Mn, to provide energy-efficient system solutions to its customers.

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Brian Miller
Market Data Forecast
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