HVAC Drive Market Size, Share & COVID-19 Impact Analysis, By Type (DC Drives, AC Drives, and Others), By Power Range (Less Than 10 KW, 10-100 KW and 101 and Above KW), By Application (Air Handling Units, Pumps, Cooling Towers and Others) and Regional Forecast, 2020-2027
The Global “HVAC Drive Market Share” research report covers explicit information regarding the development rate, market estimates, drivers, limitations, future-based demand, and revenue during the forecast period. The report explores the current outlook in global and key regions from the perspective of players, countries, product types, and end industries.
Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. The GlobalHVAC Drive Market size consists of data accumulated from numerous primary and secondary sources. Industry analysts have verified and validated this information, thus providing significant insights to researchers, analysts, managers, and other industry professionals. This document further helps in understanding market trends, applications, specifications, and markets.
HVAC Drive MarketSize Overview:
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This report aims at providing critical information and valuable insights which are of high value to the users, enabling them to identify the strategic growth opportunities.
Impact of Russia-Ukraine War on HVAC Drive Market Size
The Russia-Ukraine war could change the HVAC Drive Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in business. As the global HVAC Drive Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil and gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
Companies Operating in HVAC Drive Market
- Siemens AG (Germany)
- ABB (Switzerland)
- Danfoss A/S (Denmark)
- YASKAWA Electric Corporation (Japan)
- Regal Beloit Corporation (United States)
- Fuji Electric Co., Ltd. (Japan)
- Eaton (Ireland)
- WEG Industries (Brazil)
- Schneider Electric (France)
- Galco Industrial Electronics, (United States)
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Based on our analysis, the global market will exhibit a huge decline of -4.9% in 2020. The market is projected to grow from USD 2.22 billion in 2020 to USD 2.69 billion in 2027 at a CAGR of 2.8% in the 2020-2027 period.
Integration of HVAC Drives Across Healthcare Sector to Bolster Growth
The high efficiency of drives to reduce the energy cost significantly enables the healthcare industry to make huge strides towards freeing up valuable funding for further capital investments. The National Health Service (NHS) alone has a carbon footprint of 25 million tonnes of CO2 emissions per year. Also, the energy expenditure in the healthcare sector is approximately USD 911 million per year.
Moreover, the Energy Information Administration, hospitals are considered as an extremely energy-intensive building wherein electricity accounts for around 18 percent of their delivered energy use and it represents over 50 percent of their energy costs. In the above-mentioned scenario, the integration of variable frequency drives (VFDs) plays an important role as an energy management tool to realize substantial energy savings. Also, by leveraging VFDs, a fluctuating building environment, as well as an adjustable flow of energy and temperature, is efficiently managed as hospitals with HVAC systems are considered as the greatest drain on electricity.
Influencing Factors:
- Market Environment:Government Policies, Technological Changes, Market Risks.
- HVAC Drive MarketDrivers:Growing Demand, Reduction in Cost, Market Opportunities, and Challenges.
HVAC Drive MarketForecast:
- Market Size Forecast:Global Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue):Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
The HVAC Drive Market report provides answers to the following key questions:
- What is theHVAC Drive Market size?
- At what rate did the global HVAC Drive Market size grow between 2020-2027?
- What are the key trends driving HVAC Drive Marketsales?
- Who are the leading players in the global HVAC Drive Market?
- What is the market share of the leading players in the HVAC Drive Market?
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit With 2.3% CAGR, HVAC Drive Market to Hit USD 2.69 Billion by 2027 | Integration of HVAC Drives Across Healthcare Sector to Bolster Growth
