The global HVAC drive market is set to gain traction from the implementation of stringent energy-efficiency regulations by government bodies. This information is given by Fortune Business Insights™ in a new report, titled, “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 report further states that market size was USD 2.34 billion in 2019 and is projected to reach USD 2.69 billion by 2027, exhibiting a CAGR of 2.8% during the forecast period.
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COVID-19 Pandemic to Affect Growth Positively Backed by Emergence of Novel Technologies
The COVID-19 pandemic has taken a toll on many heating and air conditioning system suppliers globally. Governments of various countries have imposed lockdown and social distancing rules to prevent transmission. It has resulted in the disturbances in supply chains and has compelled dealers to introduce novel HVAC drives technologies for bringing the pandemic under control. It is set to affect growth positively. We are delivering accurate research reports to help our clients better understand the current scenario and take suitable steps for business growth.
How Did We Create This HVAC Drive Market Report?
We have used econometric models for short-term forecasting. But, technological models were utilized for long-term estimations. These are based on the business principles, economic outlook, regulatory frameworks, and the technology landscape. We have also conducted interviews with domain experts, suppliers, buyers, and technology providers to get a holistic picture of the HVAC drives industry.
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A list of all the renowned manufacturers operating in the global 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)
