HVAC Motors Market in USA Size to grow at a CAGR of 7.84% To 2030
Research Reports
Mar 25, 2022
Market Overview
The USA HVAC motors market 2020 was worth USD 11,193 million in 2015 and can touch a valuation of USD 17,257 million by 2021, says Market Research Future (MRFR). It is also projected that the market can progress at a rate of 7.84?tween 2022 and 2030 (which is the forecast period).
Primary Boosters and Key Barriers
HVAC motors are increasingly being upgraded in adaptive liquid management solutions. More and more players in the USA HVAC motor market are upping the number of R&D activities, integrating liquid ejectors with the adaptive liquid control case controller algorithm to effectively use the evaporator surface present in display cases. A majority of manufacturers in the market are striving for higher energy efficiency as well as energy savings in CO2 refrigeration. With the aim of solidifying their credibility in the industry, manufacturers are steering customers towards climate-friendly refrigerants that ensure reliability as well as food safety. The popularity of adaptive liquid management has surged as the future energy saving technology across the industry in the United States.
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Ultra-high efficiency motors are gaining immense favor among consumers, as these are novel technology that helps save energy. Another growth booster in the market can be the emergence of lightweight HVAC motors and their rising sale in various states of the U.S. Circuit board stators have been introduced in HVAC motors, which helps the latter provide better durability as well as enhanced performance in IoT-based implementations. Leading players in the country are doing everything in their capacity to bring in technological advancements, with respect to the weight and size of HVAC motors.
Virtual reality or VR has created quite a stir in the industry, apparent from the increasing prominence of online training course catalogs. Firms are gaining competitive edge over their rivals by employing skilled HVAC professionals. Many are able to gain worksite skills using these online courses. Also, since the automotive industry is fast gaining traction in the US HVAC motor market, startups are working on boosting their expertise to bring down the size as well as complexity of the electric powertrains.
Market Segmentation
The segments that are included in the study of the USA HVAC Motors Market include type and application.
The types of HVAC motors are fan and blower motors, chiller/cooling tower motors, shaft grounding motors and condenser fan motors.
Application-based segments studied in the report are air handler, unitary, air conditioner, WSHP, ventilator, heat pump, fan powered terminal unit and furnace.
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Regional Outlook
The main markets for USA HVAC motors include Texas, California, Washington and others.
The U.S. ranks among the top markets for HVAC motors in the world, offering lucrative opportunities to renowned companies. A majority of the vendors in the country are well-aware of the streamlining standards pertaining to product safety along with all the building codes for the accurate use of refrigerants in the market. MRFR believes that the strong sales of HVAC motors in the country can lead to massive revenue streams for the leading companies, because of the warm weather along with favorable economic conditions.
The USA HVAC motors industry is marked by several regulatory policies as well as government initiatives that help boost the use of energy efficiency systems in machines. The high living standards paired with the augmented income levels also enhance the production of electronic appliances and motor vehicles.
In April 2020, Ithaca (New York) expanded its product portfolio by investing USD 2 billion in the upgradation of industrial and commercial buildings. This upgradation is mainly focused on HVAC systems as well as chillers. The substantial expenditure can help organizations prepare against COVID-19 by keeping their buildings operational and also preserve their capital in the wake of the ongoing economic slowdown.
Leading Contenders
Genteq Motors (U.S.), US Motors (U.S.), Fasco Motors (U.S.), Baldor Electric Company (U.S.), Marathon Electric Motors (U.S.), are the leading contenders listed in the report.
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