Published on : Jan 28, 2020
The global condenser fan motors market is estimated to rise substantially over the timeframe of assessment, thanks to increased use of HVAC system across the globe. A condenser fan motor refers to an element of the HVAC system that is placed on the outdoor area. It comes with considerable effect on the level of comfort prevailing in the home. It plays a vital role in the sustenance of the cooling process of air conditioners. Condenser fan motors assists in the production of cool air by dragging in the air from outside and then throwing out the heat out of the house. Numerous benefits of the system is likely to help in the expansion of the global condenser fan motors market in years to come.
Lack of proper maintenance can often lead to accumulation of debris, dust, and dirt in the condenser fan motor system. The system is bound to witness normal wear and tear over time leading to warmer air, stuffier window, and poor flow of air. In addition to making homes comfortable, a smoothly operating condenser fan motor unit is capable of saving energy, extending the life of the equipment, and providing better quality of air.
Some of the well-known market players in the global condenser fan motors market are Adlee Powertronic Co., Ltd., Invertek Drives, General Electric Company, Emerson Electric Co., DiversiTech Corporation, and A. O. Smith Corporation.
Asia Pacific to Exhibit Rapid Growth While North America to Retain its Regional Dominance
The global condenser fan motors market has been segmented into the major geographies of North America, Europe, Asia Pacific, Middle East and Africa, and Latin Africa. Region-based segmentations offer a detailed view of the market in various parts of the world.
Considering regions, the global condenser fan motors market is estimated to see the domination of North America in the forthcoming years. Rapid technological progress coupled with quick adoption of technologically advanced products is expected to propel growth of the North America condenser fan motors market in years to come.
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In the global condenser fan motors market, Asia Pacific is likely to come up as a region that is attaining prominence quickly. Increased disposable income of the people and inclination toward spending on premium products is expected to increase the sale of HVAC systems in the region. With increased sale of HVAC system, the demand for condenser fan motors is likely to rise in the forthcoming years. Furthermore, rapid urbanization of countries like China, South Korea, Japan, and India is expected to spearhead the growth of the market in years to come. Furthermore, exponential growth in the tourism industry is likely to leave a positive impact on the condenser fan motors market in the region.
Need for Improved Air Quality at Home to Spell Growth for the Market
According to the findings of a report by the US National Academy of Sciences, the first decade of the 21st century recorded 0.8°C (1.4°F) warmer climate than the corresponding decade of the 20th century. This variation in the climate has resulted in the massive demand for electrical cooling systems during summer time across the globe. At the same time, the same facility demands electrical heating systems, wood, heating oil, and natural gas in the winter time. In addition, the change in climate has left an adverse impact on the energy consumption of buildings. With proper functioning of condenser fan motors, energy efficiency of such equipment at home can be attained.
The global condenser fan motors market is expected to be driven by the prevalence of urban heat island in the urban areas. Urban areas experience higher ambient temperature, which drives the demand for HVAC system. Increased demand for HVAC is expected to propel growth of the market in the forthcoming years.