PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1568717
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1568717
Air to Water Heat Pump Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The Global Air to Water Heat Pump Market is expected to grow at over 16% CAGR from 2024 to 2032, owing to escalating awareness of energy efficiency and sustainable practices. As per the International Energy Agency (IEA) reports, global sales of heat pumps, including air to water systems, grew by 12% in 2023.
Air to water heat pumps offer significant energy savings compared to traditional heating systems, appealing to both residential and commercial users aiming to reduce their carbon footprint. Additionally, government incentives and subsidies for renewable energy technologies are encouraging adoption by lowering the initial investment costs for consumers. Technological advancements in heat pump efficiency and performance bolster air to water heat pump market expansion, making these systems a more viable option.
The air to water heat pump industry is highly competitive, featuring a mix of established global players and regional companies. Emerging vendors focus on innovation and niche applications to gain market share. Strategic partnerships, mergers, and acquisitions are common as companies aim to enhance their product portfolios and expand into new markets.
The overall market is categorized based on application, and region.
The commercial segment will experience a decent growth rate over the study period, due to the need for scalable and efficient heating solutions in larger facilities. As businesses seek to enhance operational efficiency and reduce energy costs, the adoption of air to water heat pumps in commercial settings provides an effective way to manage extensive heating and cooling needs while lowering overall energy consumption. The increasing regulatory pressure for green building standards and the desire for long-term cost savings are compelling commercial entities to invest in advanced heating technologies.
North American air to water heat pump market will record an impressive growth rate through 2032, driven by regulatory incentives and rising energy costs. Government policies and rebates aimed at promoting energy-efficient technologies are making air to water heat pumps financially accessible. Additionally, the increasing focus on reducing GHG emissions and transitioning to sustainable energy sources if favoring the product usage. Rising energy prices prompt residential and commercial sectors to seek cost-effective and energy-efficient solutions, accelerating market growth across North America.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market definitions
- 1.2 Base estimates and calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Regulatory landscape
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls and challenges
- 3.4 Growth potential analysis
- 3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
- 3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Strategic outlook
- 4.2 Innovation and sustainability landscape
- 4.3 Company market share
Chapter 5 Market Size and Forecast, By Application, 2021 - 2032, ('000 Units and USD Million)
- 5.1 Key trends
- 5.2 Residential
- 5.2.1 Single family
- 5.2.2 Multi family
- 5.2.3 Product
- 5.2.3.1 Domestic hot water heat pump
- 5.2.3.2 Room heat pump
- 5.3 Commercial
- 5.3.1 Education
- 5.3.2 Healthcare
- 5.3.3 Retail
- 5.3.4 Logistics and transportation
- 5.3.5 Offices
- 5.3.6 Hospitality
- 5.3.7 Others
Chapter 6 Market Size and Forecast, By Region, 2021 - 2032, ('000 Units and USD Million)
- 6.1 Key trends
- 6.2 North America
- 6.2.1 U.S.
- 6.2.2 Canada
- 6.3 Europe
- 6.3.1 Austria
- 6.3.2 Norway
- 6.3.3 Denmark
- 6.3.4 Finland
- 6.3.5 France
- 6.3.6 Germany
- 6.3.7 Italy
- 6.3.8 Switzerland
- 6.3.9 Spain
- 6.3.10 Sweden
- 6.3.11 UK
- 6.3.12 Netherlands
- 6.3.13 Poland
- 6.3.14 Belgium
- 6.3.15 Slovakia
- 6.3.16 Ireland
- 6.3.17 Czech Republic
- 6.4 Asia Pacific
- 6.4.1 China
- 6.4.2 Japan
- 6.4.3 Australia
- 6.4.4 South Korea
- 6.5 Middle East and Africa
- 6.5.1 Saudi Arabia
- 6.5.2 Turkey
- 6.5.3 South Africa
- 6.6 Latin America
- 6.6.1 Brazil
- 6.6.2 Mexico
- 6.6.3 Argentina
Chapter 7 Company Profiles
- 7.1 Bosch Thermotechnology Corp.
- 7.2 Carrier Corporation
- 7.3 DAIKIN INDUSTRIES Ltd.
- 7.4 FUJITSU GENERAL LIMITED
- 7.5 Glen Dimplex Group
- 7.6 Guangzhou SPRSUN New Energy Technology Development Co., Ltd.
- 7.7 LG Electronics
- 7.8 NIBE Industrier AB
- 7.9 Panasonic Corporation
- 7.10 SAMSUNG
- 7.11 STIEBEL ELTRON GmbH and Co. KG
- 7.12 Toshiba Air Conditioning
- 7.13 Trane
- 7.14 Vaillant Group
- 7.15 Viessmann
- 7.16 WOLF GmbH
