Heat Pumps - Global Strategic Business Report

Report
540 Pages
March 2024
Region: Global
Global Industry Analysts, Inc
ID: 4805579

The global market for Heat Pumps is estimated at US$74.1 Billion in 2023 and is projected to reach US$142.4 Billion by 2030, growing at a CAGR of 8.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Key Insights:

Market Growth: Understand the significant growth trajectory of the Air Source Heat Pumps segment, which is expected to reach US$108.7 Billion by 2030 with a CAGR of 8.2%. The Ground Source (geothermal) segment is also set to grow at 9.9% CAGR over the next 8 years.
Regional Analysis: Gain insights into the U.S. market, estimated at $16.1 Billion in 2023, and China, forecasted to grow at an impressive 9% CAGR to reach $35.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

Detailed Market Analysis: Access a thorough analysis of the Global Heat Pumps Market, covering all major geographic regions and market segments.
Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Heat Pumps Market.
Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

How is the Global Heat Pumps Market expected to evolve by 2030?
What are the main drivers and restraints affecting the market?
Which market segments will grow the most over the forecast period?
How will market shares for different regions and segments change by 2030?
Who are the leading players in the market, and what are their prospects?

Report Features:

Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Company Profiles: Coverage of major players such as Bard Manufacturing Company, Inc., Daikin Industries, Ltd., Danfoss A/S, and more.
Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 164 Featured):

Bard Manufacturing Company, Inc.
Daikin Industries, Ltd.
Danfoss A/S
Emerson Electric Co.
Glen Dimplex Europe Holdings Limited
Johnson Controls International Plc
Lennox International Inc.
LG Electronics Inc.
MAYEKAWA MFG. CO. LTD.
Meier Tobler AG
Mitsubishi Electric Corporation
OCHSNER Warmepumpen GmbH
Oilon Group Oy
Panasonic Corporation
Rheem Manufacturing Company
Robert Bosch GmbH
STIEBEL ELTRON GmbH & Co. KG
Vaillant Group

MarketGlass Platform

Our reports are enhanced by the MarketGlass platform, which brings together industry experts and influencers to provide high-quality, accurate insights. This unique platform allows us to gather comprehensive data and market perspectives, ensuring you receive the most reliable and detailed analysis available.

I. METHODOLOGYII. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Heat Pumps: Energy-Efficient Means to Serve Cooling & Heating Needs
Classification of Heat Pumps
Compelling Merits of Heat Pumps
Applications of Heat Pumps
Global Economic Update
Competitive Landscape
Heat Pumps - Global Key Competitors Percentage Market Share in 2023 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
Global Market Prospects and Outlook
Global Heat Pumps Market Gathers Steam to Make Significant Leap Forward
Air-to-Air & Residential Sectors: Growing Segments of Global Heat Pumps Market
Higher Adoption of Water Source Heat Pumps (WSHPs)
Heat Pumps Enjoying Boundless Opportunities across Regions
Surging Installation Across Europe
Asia-Pacific as Energetic Regional Market for Heat Pumps
Market Outlook
Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Governments’ Focus & Emphasis on Energy Efficient Buildings Bodes Well for Market Growth
Heat Pumps Experiencing Steep Demand amid Rising Energy Demand for Heating
Global Heating Technology Market: Breakdown of Sales (in %) in the Sustainable Development Scenario (SDS) for 2010, 2020 and 2030
Governments’ Efforts to Support Net-Zero Buildings
Recent Global Initiatives Aimed at Propelling Construction of Zero-Emission Buildings
Residential Heat Pump Adoption Trends in the US
Net-Zero Buildings Play an Important Role in Achieving Decarbonization Goals
Carbon Footprint Forecasts for Buildings (In Billion Metric Tons) for Years 2020, 2025, 2030, 2035, 2040, 2045 & 2050
Key Sustainability Benefits of Net-Zero Energy Buildings
Increasing Emphasis on Carbon Footprint Management Drives the Demand for Heat Pumps
Global CO2 Emissions in Billion Metric Tons of CO2 Per Year
Rising Uptake of Heat Pumps to Mitigate Carbon Emissions
Stringent Regulations to Adopt Carbon Footprint Management Strategies to Propel Market Growth
Multi-Fold Increase in Number of Climate Change Laws
US Climate Legislations Favoring Energy Efficiency & Renewables
Measures & National Policies to Mitigate Climate Change in EU
Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
Growing Demand for Heat Pumps in Buildings Drive Market Growth
Energy Consumption Worldwide by Sector (in %)
Net-Zero Buildings Play an Important Role in Achieving Decarbonization Goals
Carbon Footprint Forecasts for Buildings (In Billion Metric Tons) for Years 2020, 2025, 2030, 2035, 2040, 2045 & 2050
Key Sustainability Benefits of Net-Zero Energy Buildings
Global Residential Heat Pump Market Eyes on Substantial Growth Ahead
Household Space Heating in Selected Countries/regions, 2021
Heat Pumps for Industrial & District Heating in Limelight
Dynamic Drivers Spurring Growth of Industrial Heat Pumps Market
Heat Pumps Addressing District Heating Needs
Growing Role of District Heating in Energy Transition
Heat Pumps Score Over Gas Boilers in Mature Heating Markets
Technological Advances Augment Demand
Adoption of Emerging Technologies
Rapid Pace of Industrialization: Opportunity for District Heating Market
Surge in Urban Population to Drive Need for Heat Pumps
World Urban Population in Thousands: 1950-2050P

4. GLOBAL MARKET PERSPECTIVE

Table 1: World Heat Pumps Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
Table 2: World Recent Past, Current & Future Analysis for Heat Pumps by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 3: World Historic Review for Heat Pumps by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 4: World 16-Year Perspective for Heat Pumps by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
Table 5: World Recent Past, Current & Future Analysis for Air Source by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 6: World Historic Review for Air Source by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 7: World 16-Year Perspective for Air Source by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
Table 8: World Recent Past, Current & Future Analysis for Ground Source (Geothermal) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 9: World Historic Review for Ground Source (Geothermal) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 10: World 16-Year Perspective for Ground Source (Geothermal) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
Table 11: World Recent Past, Current & Future Analysis for Water Source by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 12: World Historic Review for Water Source by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 13: World 16-Year Perspective for Water Source by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
Table 14: World Recent Past, Current & Future Analysis for Up to 10 kW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 15: World Historic Review for Up to 10 kW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 16: World 16-Year Perspective for Up to 10 kW by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
Table 17: World Recent Past, Current & Future Analysis for 10 - 20 kW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 18: World Historic Review for 10 - 20 kW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 19: World 16-Year Perspective for 10 - 20 kW by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
Table 20: World Recent Past, Current & Future Analysis for 20 - 30 kW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 21: World Historic Review for 20 - 30 kW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 22: World 16-Year Perspective for 20 - 30 kW by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
Table 23: World Recent Past, Current & Future Analysis for Above 30 kW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 24: World Historic Review for Above 30 kW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 25: World 16-Year Perspective for Above 30 kW by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
Table 26: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 27: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 28: World 16-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
Table 29: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 30: World Historic Review for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 31: World 16-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
Table 32: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
Table 33: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
Table 34: World 16-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030

III. MARKET ANALYSIS

UNITED STATES

Heat Pumps Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)

CANADA

JAPAN

Heat Pumps Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)

CHINA

Heat Pumps Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)

EUROPE

Heat Pumps Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)

FRANCE

Heat Pumps Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)

GERMANY

Heat Pumps Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)

ITALY

UNITED KINGDOM

Heat Pumps Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)

REST OF EUROPE

ASIA-PACIFIC

Heat Pumps Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)

REST OF WORLDIV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

Bard Manufacturing Company, Inc.
Daikin Industries, Ltd.
Danfoss A/S
Emerson Electric Co.
Glen Dimplex Europe Holdings Limited
Johnson Controls International Plc
Lennox International Inc.
LG Electronics Inc.
MAYEKAWA MFG. CO. LTD.
Meier Tobler AG
Mitsubishi Electric Corporation
OCHSNER Warmepumpen GmbH
Oilon Group Oy
Panasonic Corporation
Rheem Manufacturing Company
Robert Bosch GmbH
STIEBEL ELTRON GmbH & Co. KG
Vaillant Group

Table Information

Report Attribute	Details
No. of Pages	540
Published	March 2024
Forecast Period	2023 - 2030
Estimated Market Value ( USD ) in 2023	$ 74.1 Billion
Forecasted Market Value ( USD ) by 2030	$ 142.4 Billion
Compound Annual Growth Rate	8.5%
Regions Covered	Global

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Key Insights:

Why You Should Buy This Report:

Key Questions Answered:

Report Features:

Select Competitors (Total 164 Featured):

MarketGlass Platform

Table of Contents

Companies Mentioned (Partial List)

Table Information

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