The global HVAC electronically commutated motor market size is projected to reach USD 13.13 billion by 2028, exhibiting a CAGR of 7.5% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “HVAC Electronically Commutated Motor (ECM) Market, 2021-2028”. The value of the market stood at USD 7.10 billion in 2020, as per the report’s findings.
Rising Indoor Pollution Levels Worldwide to Boost the Market
Household air pollution has become a major threat to public health, emerging as one of the most prominent causes of premature deaths worldwide. According to the World Health Organization (WHO), indoor air pollution kills approximately 4 million people every year. The leading cause for these deaths, as highlighted by the WHO, is the widespread use of fossil fuel-based stoves by roughly 3 billion people around the globe. In the US, according to the US Environmental Protection Agency (EPA), concentrations of pollutants indoors are typically 2 to 5 times higher than in outdoor environments. HVAC electronically commutated motor systems can play a critical role in lowering the concentration of pollutants floating around in homes. The installation of such systems in homes and commercial spaces can improve air quality and foster healthy living and working.
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Market Segments
By application, the market has been segmented into residential, commercial, and industrial. Here, the commercial segment led the market with a share of 40.7% in 2020.
Based on motor type, the market has been divided into brushless DC motors, permanent magnet AC motors, and servo motors. On the basis of product type, the market has been classified into constant airflow, constant torque, and constant speed. In terms of geography, the market has been clubbed into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
COVID-19 Impact
The COVID-19 pandemic has gravely injured the HVAC electronically commutated motor market growth, with the market registering a negative CAGR of -13.35% in 2020 and reaching a value of USD 7.89 billion in 2021. Measures undertaken to contain the spread of the virus, such as lockdowns and trade restrictions, have created unprecedented upheavals across all major industries. Since advanced HVAC systems are extensively deployed across industries, such as aviation, automotive, and oil & gas, disruptions in these sectors have hampered the adoption of HVAC ECMs, which in turn has impacted the market.
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