Ductless Heat Pump Market By Application (Residential {Single Family, Multi Family}, Commercial), By System (Single Zone, Multi Zone), & Forecast, 2023

Description

List of Tables

Global Ductless Heat Pump Market size is expected to grow significantly through 2032, owing to the rising adoption of energy-efficient, low-emission technologies. Rapid commercialization and urbanization have increased the demand for heating solutions in developing and developed economies. As per the International Energy Agency, in 2021, around 50% of energy demand from buildings was for water and space heating, resulting in 2,450 Mt of direct CO2 emissions. To aid these concerns, governments across several economies are implementing stringent norms to achieve energy efficiency, which may contribute to industry growth over the next ten years.

Furthermore, extreme weather conditions in European economies such as Germany and France and rising per capita income will strengthen the industry outlook. Companies operating in the field are focusing on expansion strategies to stay ahead of the competition. Citing an instance, in July 2022, Panasonic, a leading electronics manufacturer, announced its electrical construction material business expansion including indoor air quality products and wiring devices in Vietnam. Such strategic moves and initiatives will favor the market demographics in the long run.

The overall ductless heat pump market is categorized on the basis of application, system, and region.

In terms of application, the ductless heat pump market size from commercial segment is anticipated to record a decent valuation by 2032. Escalating efforts by the government in developed and developing countries to cut down industrial emissions are contributing to segment growth. In fact, in March 2023, the U.S. government announced an investment of around USD 6 billion for the acceleration of industrial decarbonization projects as an effort to become a clean energy economy.

Single zone ductless heat pump market size is expected to garner notable gains through 2032. These heating systems are increasingly affordable and easy to install, making them ideal for small homes, home additions, and other residential applications. Their small size and high flexibility are working in favor of their mass adoption. Moreover, increasing efforts by industry players towards developing single-zone ductless heat pumps with advanced capabilities will further boost product uptake.

Europe Ductless Heat Pump Market held over 20% market share in 2022. This can be credited to the stringent framework focused on cutting carbon and GHG emissions. In fact, France aims to become Europe's first decarbonized country by achieving carbon neutrality by 2050. In addition, cooling and heating account for the region's 50% of energy usage. Favorable government policies to fulfill heating demand in the wake of the ongoing energy crisis will also contribute to regional market growth.

Product Code: 5567

Chapter 1 Methodology & Scope

1.1 Market scope and definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Ductless Heat Pump industry 360 degree synopsis, 2019 - 2032
- 2.1.1 Business trends
- 2.1.2 Application trends
- 2.1.3 System trends
- 2.1.4 Regional trends

Chapter 3 Ductless Heat Pump Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Vendor matrix
3.2 Regulatory Landscape
- 3.2.1 North America
  - 3.2.1.1 U.S.
    - 3.2.1.1.1 Inflation Reduction Act (IRA)
    - 3.2.1.1.2 Upcoming Changes to Efficiency Standards for AC Units and Heat Pumps
    - 3.2.1.1.3 California Energy Commission: New Building Code, 2021
    - 3.2.1.1.4 Fannie Mae Green Initiative
    - 3.2.1.1.5 Massachusetts Clean Energy Centre Whole-Home Air-Source Heat Pump Pilot
    - 3.2.1.1.6 Energy Improvement and Extension Act of 2008 (EIEA2008)
    - 3.2.1.1.7 Air-Source Heat Pump Program
    - 3.2.1.1.8 Residential Air Source Heat Pump Schedules and Product Codes
    - 3.2.1.1.9 International Organization for Standardization
    - 3.2.1.1.10 Federal Energy Management Program
    - 3.2.1.1.11 Renewable Heat Incentives for residential, business, commercial, and industrial segments.
    - 3.2.1.1.12 Cold Climate Air Source Heat Pump (ccASHP) Product List and Specifications
    - 3.2.1.1.13 Federal Register
  - 3.2.1.2 Canada
    - 3.2.1.2.1 Rebate options available for British Colombia households
    - 3.2.1.2.2 Amendment 16 to the Energy Efficiency Regulations
    - 3.2.1.2.3 Single package central air conditioners and heat pumps
    - 3.2.1.2.4 CAN/CSA-C22.2 No.236-95 (R2004) - Heating and Cooling Equipment
- 3.2.2 Europe
  - 3.2.2.1 Energy Efficiency Directive
  - 3.2.2.2 Heat Pumps and EU targets
  - 3.2.2.3 Europe Heat Pump Association (EHPA) Testing Standards
    - 3.2.2.3.1 Testing Conditions
  - 3.2.2.4 Key Laws
  - 3.2.2.5 Germany
    - 3.2.2.5.1 Rebate Program: January 2023
    - 3.2.2.5.2 German Energy Saving Ordinance (EnEV)
    - 3.2.2.5.3 Energy Concept - The Energy Strategy
  - 3.2.2.6 UK
    - 3.2.2.6.1 The Renewable Heat Incentive Scheme Regulations
    - 3.2.2.6.2 The UK's National Energy Efficiency Action Plan
    - 3.2.2.6.3 CRC Energy Efficiency Schemes
    - 3.2.2.6.4 Installation standards
  - 3.2.2.7 Ireland
    - 3.2.2.7.1 The Heat Pump Association of Ireland
  - 3.2.2.8 France
    - 3.2.2.8.1 STATE AID FOR HEAT PUMP INSTALLATION 2023
    - 3.2.2.8.1.1 The reduced VAT rate of 5.5% - 1st aid for heat pump 2023
    - 3.2.2.8.1.2 The Zero Rate Eco-Loan: 2nd for heat pump 2023
    - 3.2.2.8.1.3 MaPrimeRenov' de l'Anah - 3rd state aid for heat pump 2023
    - 3.2.2.8.1.4 Live better Serenity of Anah - 4th aid heat pump 2023
    - 3.2.2.8.1.5 Energy boost - heat pump assistance- 5th aid heat pump 2023
    - 3.2.2.8.1.6 The Denormandie tax credit - 6th aid heat pump 2023
    - 3.2.2.8.1.7 The energy cheque - 7th aid heat pump 2023
    - 3.2.2.8.2 Thermal policy framework
    - 3.2.2.8.3 RE 2020
- 3.2.3 Asia Pacific
  - 3.2.3.1 China
    - 3.2.3.1.1 China Medium and Long-Term Energy Conservation Plan
    - 3.2.3.1.2 Regulation on Energy Conservation in Civil Buildings
  - 3.2.3.2 Australia and New Zealand
    - 3.2.3.2.1 Greenhouse and Energy Minimum Standards (Air Conditioners and Heat Pumps) Determination 2013
- 3.2.4 Middle East & Africa
  - 3.2.4.1 South African National Standard SANS 941; SANS/EN 54511
  - 3.2.4.2 SANS 10400 - New building codes
3.3 COVID- 19 impact on the industry outlook
- 3.3.1 Overall view
3.4 Industry impact forces
- 3.4.1 Growth drivers
  - 3.4.1.1 Increasing demand for energy-efficient systems
  - 3.4.1.2 Positive transition toward clean energy alternatives
  - 3.4.1.3 Growing demand for advanced space heating technologies
  - 3.4.1.4 Rapid urbanization and commercialization
- 3.4.2 Industry Pitfalls and Challenges
  - 3.4.2.1 Presence of a wide variety of alternatives
3.5 Growth potential analysis
3.6 Porter's Analysis
- 3.6.1 Bargaining power of supplier
- 3.6.2 Bargaining power of buyers
- 3.6.3 Threat of new entrant
- 3.6.4 Threat of substitutes
3.7 PESTEL Analysis

Chapter 4 Competitive Benchmarking

4.1 Competitive landscape, 2022
- 4.1.1 Strategic dashboard
  - 4.1.1.1 Daikin
    - 4.1.1.1.1 Manufacturing facility
    - 4.1.1.1.2 Business Expansion
    - 4.1.1.1.3 Research & development facility
    - 4.1.1.1.4 Product launch
    - 4.1.1.1.5 Strategic management plan
    - 4.1.1.1.6 Strategic investment
  - 4.1.1.2 Panasonic Corporation
    - 4.1.1.2.1 Acquisition
    - 4.1.1.2.2 Strategic partnership
    - 4.1.1.2.3 Distribution network
  - 4.1.1.3 Trane
    - 4.1.1.3.1 Collaboration
  - 4.1.1.4 SAMSUNG
    - 4.1.1.4.1 Project
    - 4.1.1.4.2 Collaboration
    - 4.1.1.4.3 Investment
    - 4.1.1.4.4 Partnership/Ambassador
  - 4.1.1.5 Bosch Thermotechnology Corp.
    - 4.1.1.5.1 Investment
    - 4.1.1.5.2 Manufacturing facility
  - 4.1.1.6 Carrier
    - 4.1.1.6.1 Research & development facility
    - 4.1.1.6.2 Project
    - 4.1.1.6.3 Partnership/collaboration
  - 4.1.1.7 FUJITSU GENERAL
    - 4.1.1.7.1 Business expansion
  - 4.1.1.8 Johnson Controls
    - 4.1.1.8.1 Product launch
  - 4.1.1.9 MRCOOL.
    - 4.1.1.9.1 Product launch
    - 4.1.1.9.2 Patent approval

Chapter 5 Ductless Heat Pump Market, By Application

5.1 Key application trends
5.2 Residential
- 5.2.1 Global market from residential, 2019 - 2032
- 5.2.2 Global market from residential, by region, 2019 - 2032
- 5.2.3 Single family
  - 5.2.3.1 Global market from single family, 2019 - 2032
  - 5.2.3.2 Global market from single family, by region, 2019 - 2032
- 5.2.4 Multi family
  - 5.2.4.1 Global market from multi family, 2019 - 2032
  - 5.2.4.2 Global market from multi family, by region, 2019 - 2032
5.3 Commercial
- 5.3.1 Global market from commercial, 2019 - 2032
- 5.3.2 Global market from commercial, by region, 2019 - 2032