The future of the global HVAC drive market looks promising with opportunities in the industrial, residential, and commercial sectors. The global HVAC drive market is expected to reach an estimated $3.5 billion by 2030 with a CAGR of 3.8% from 2024 to 2030. The major drivers for this market are increasing demand for this product to improve indoor air quality, growing number of smart building and smart city construction, and rising installaton of this drive in healthcare sector.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the HVAC drive market by type
(DC drives, AC drives, and others), application (air handling units, pumps,
cooling towers, and others), end use industry (industrial, residential, and
commercial), and region (North America, Europe, Asia Pacific, and the Rest of
the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, air
handling unit, pump, and cooling tower are the major segments of HVAC drive market
by application type. Lucintel forecasts that air handling unit is expected to
witness highest growth over the forecast period due to increasing use of HVAC
drives in these systems to control and circulate air, keep blowers, heating or
cooling components, filter racks functioning properly, and lengthen
lifespan.Within this market, commercial will remain the largest segment due to
growing need for energy-efficient HVAC systems in various commercial buildings,
such as office buildings, hospitals, and hotels.
North America is
expected to witness highest growth over the forecast period due to increasing
number of green building construction, presence of key manufacturing hubs, and
rising awareness towards improved indoor air quality in the region.
Siemens, ABB, Danfoss,
YASKAWA Electric, Regal Beloit, Fuji Electric, Eaton, WEG Industries, Schneider
Electric, and Galco Industrial Electronics are the major suppliers in the HVAC
drive market.
About Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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