Market Overview:
The global HVAC drives market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The growth of the market can be attributed to the increasing demand for energy-efficient HVAC systems across various applications, such as air handling units (AHUs), cooling towers, and pumps. In addition, the growing awareness about energy conservation is also propelling the growth of this market. The global HVAC drives market by type is segmented into below 10 kW, 10 - 100 kW, and above 100 kW segments. The below 10 kW segment is projected to account for a major share of the global HVAC drives market in 2018 owing to its low cost and easy installation process. However, this segment is expected to lose its share by 2030 due to increasing demand for high-efficiency systems in commercial buildings and data centers.
Product Definition:
HVAC drives are devices that control the speed of an HVAC fan or blower. They are used to ensure that the fan or blower runs at the correct speed in order to maintain the desired temperature and airflow in a building.
Below 10 KW:
Below 10 KW, it's usage.
The global below 10 KW, it's usage and growth factor in the HVAC drives market size was valued at USD 6.5 billion in 2016. The cooling & heating equipment demand is expected to witness significant growth over the forecast period owing to rapid industrialization across emerging economies such as India, China, Vietnam and South Africa coupled with increasing construction activities across North America & Europe.
10 - 100 KW:
The 10 - 100 KW is a range of power rating which means it can vary between 10 and 100 kilowatts. It is used to measure the power required to run an air conditioner or heat pump. The higher the number, the more powerful the air conditioner/heat pump needs to be in order to achieve a desired temperature.
Application Insights:
Based on the application, the global market has been segmented into air handling units, cooling towers, and pumps. Air handling units held the largest share of over 70.0% in 2017 owing to its wide applications in residential as well as commercial buildings for heating or cooling purposes. The demand for air handling units is expected to increase at a CAGR of XX% from 2018 to 2030 due to its usage in various end-use industries such as food & beverage processing and pharmaceuticals among others which are anticipated to witness growth over the forecast period globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 owing to rapid industrialization and urbanization. The region is expected to continue its dominance over the forecast period due to increasing demand for HVAC drives from developing countries such as China, India, and Japan. Moreover, rising construction activities in emerging economies are likely to boost product demand further.
The growth of commercial sectors has led to an increase in building energy requirements which is anticipated to drive the regional market at a significant pace over the forecast period. North America also accounted for a significant share of revenue generation owing high adoption rate of advanced technologies across this region.
Growth Factors:
- Increasing demand for energy-efficient HVAC systems
- Growing popularity of variable refrigerant flow (VRF) systems
- Proliferation of smart buildings and the Internet of Things (IoT)
- Rising awareness about the benefits of HVAC drives
- Emerging markets such as India and China
Scope Of The Report
Report Attributes
Report Details
Report Title
HVAC Drives Market Research Report
By Type
Below 10 KW, 10 - 100 KW, Above 100 KW
By Application
Air Handling Units, Cooling Towers, Pumps
By Companies
ABB, Siemens, Danfoss Drives, Schneider Electric, Emerson (Nidec), Mitsubishi Electric, General Electric, Fuji Electric, Hitachi, Yaskawa, Toshiba, WEG SA, Eaton
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global HVAC Drives Market Report Segments:
The global HVAC Drives market is segmented on the basis of:
Types
Below 10 KW, 10 - 100 KW, Above 100 KW
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Air Handling Units, Cooling Towers, Pumps
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Siemens
- Danfoss Drives
- Schneider Electric
- Emerson (Nidec)
- Mitsubishi Electric
- General Electric
- Fuji Electric
- Hitachi
- Yaskawa
- Toshiba
- WEG SA
- Eaton
Highlights of The HVAC Drives Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Below 10 KW
- 10 - 100 KW
- Above 100 KW
- By Application:
- Air Handling Units
- Cooling Towers
- Pumps
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the HVAC Drives Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A HVAC drive is a component of an air conditioning or heating system that helps to move air.
Some of the key players operating in the hvac drives market are ABB, Siemens, Danfoss Drives, Schneider Electric, Emerson (Nidec), Mitsubishi Electric, General Electric, Fuji Electric, Hitachi, Yaskawa, Toshiba, WEG SA, Eaton.
The hvac drives market is expected to register a CAGR of 5.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. HVAC Drives Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. HVAC Drives Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. HVAC Drives Market - Supply Chain
4.5. Global HVAC Drives Market Forecast
4.5.1. HVAC Drives Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. HVAC Drives Market Size (000 Units) and Y-o-Y Growth
4.5.3. HVAC Drives Market Absolute $ Opportunity
5. Global HVAC Drives Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. HVAC Drives Market Size and Volume Forecast by Type
5.3.1. Below 10 KW
5.3.2. 10 - 100 KW
5.3.3. Above 100 KW
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global HVAC Drives Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. HVAC Drives Market Size and Volume Forecast by Application
6.3.1. Air Handling Units
6.3.2. Cooling Towers
6.3.3. Pumps
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global HVAC Drives Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. HVAC Drives Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global HVAC Drives Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. HVAC Drives Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global HVAC Drives Demand Share Forecast, 2019-2029
9. North America HVAC Drives Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America HVAC Drives Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America HVAC Drives Market Size and Volume Forecast by Application
9.4.1. Air Handling Units
9.4.2. Cooling Towers
9.4.3. Pumps
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America HVAC Drives Market Size and Volume Forecast by Type
9.7.1. Below 10 KW
9.7.2. 10 - 100 KW
9.7.3. Above 100 KW
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America HVAC Drives Demand Share Forecast, 2019-2029
10. Latin America HVAC Drives Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America HVAC Drives Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America HVAC Drives Market Size and Volume Forecast by Application
10.4.1. Air Handling Units
10.4.2. Cooling Towers
10.4.3. Pumps
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America HVAC Drives Market Size and Volume Forecast by Type
10.7.1. Below 10 KW
10.7.2. 10 - 100 KW
10.7.3. Above 100 KW
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America HVAC Drives Demand Share Forecast, 2019-2029
11. Europe HVAC Drives Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe HVAC Drives Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe HVAC Drives Market Size and Volume Forecast by Application
11.4.1. Air Handling Units
11.4.2. Cooling Towers
11.4.3. Pumps
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe HVAC Drives Market Size and Volume Forecast by Type
11.7.1. Below 10 KW
11.7.2. 10 - 100 KW
11.7.3. Above 100 KW
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analyis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe HVAC Drives Demand Share, 2019-2029
12. Asia Pacific HVAC Drives Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific HVAC Drives Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific HVAC Drives Market Size and Volume Forecast by Application
12.4.1. Air Handling Units
12.4.2. Cooling Towers
12.4.3. Pumps
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific HVAC Drives Market Size and Volume Forecast by Type
12.7.1. Below 10 KW
12.7.2. 10 - 100 KW
12.7.3. Above 100 KW
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific HVAC Drives Demand Share, 2019-2029
13. Middle East & Africa HVAC Drives Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa HVAC Drives Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa HVAC Drives Market Size and Volume Forecast by Application
13.4.1. Air Handling Units
13.4.2. Cooling Towers
13.4.3. Pumps
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa HVAC Drives Market Size and Volume Forecast by Type
13.7.1. Below 10 KW
13.7.2. 10 - 100 KW
13.7.3. Above 100 KW
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa HVAC Drives Demand Share, 2019-2029
14. Competition Landscape
14.1. Global HVAC Drives Market: Market Share Analysis
14.2. HVAC Drives Distributors and Customers
14.3. HVAC Drives Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABB
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Siemens
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Danfoss Drives
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Schneider Electric
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Emerson (Nidec)
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Mitsubishi Electric
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. General Electric
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Fuji Electric
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Hitachi
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Yaskawa
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Toshiba
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. WEG SA
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Eaton
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
