HVAC Drive Market Report: Trends, Forecast and Competitive Analysis to 2030

HVAC Drive Trends and Forecast

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.

A more than 150-page report is developed to help in your business decisions.

HVAC Drive by Segment

The study includes a forecast for the global HVAC drive by type, application, end use industry, and region.

HVAC Drive Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• DC Drives
• AC Drives
• Others

HVAC Drive Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Air Handling Units
• Pumps
• Cooling Towers
• Others

HVAC Drive Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Industrial
• Residential
• Commercial

HVAC Drive Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of HVAC Drive Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies HVAC drive companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the HVAC drive companies profiled in this report include-

• Siemens
• ABB
• Danfoss
• YASKAWA Electric
• Regal Beloit
• Fuji Electric
• Eaton
• WEG Industries
• Schneider Electric
• Galco Industrial Electronics

HVAC Drive Market Insights

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.

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.

Features of the Global HVAC Drive Market

Market Size Estimates: HVAC drive market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: HVAC drive market size by type, application, end use industry, and region. in terms of value ($B).

Regional Analysis: HVAC drive market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, end use industries, and region.s for the HVAC drive market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the HVAC drive market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the HVAC drive market size?

Answer: The global HVAC drive market is expected to reach an estimated $3.5 billion by 2030.

Q.2. What is the growth forecast for HVAC drive market?

Answer: The global HVAC drive market is expected to grow with a CAGR of 3.8% from 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the HVAC drive market?

Answer: 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.

Q.4. What are the major segments for HVAC drive market?

Answer: The future of the HVAC drive market looks promising with opportunities in the industrial, residential, and commercial sectors.

Q.5. Who are the key HVAC drive market companies?

Answer: Some of the key HVAC drive companies are as follows:

• Siemens
• ABB
• Danfoss
• YASKAWA Electric
• Regal Beloit
• Fuji Electric
• Eaton
• WEG Industries
• Schneider Electric
• Galco Industrial Electronics

Q.6. Which HVAC drive market segment will be the largest in future?

Answer: 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.

Q.7. In HVAC drive market, which region is expected to be the largest in next 5 years?

Answer: 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.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• 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?