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Global Heat Pump Water Heater Market by Type (Air-to-Air, Air-to-Water, Water Source, Geothermal, Hybrid), Storage Tank (Up to 500 L, 500-1,000 L, Above 1,000 L), Refrigerant Type (R410A, R407C, R744), Rated Capacity, End User Region - Forecast to 2028

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    Report

  • 318 Pages
  • January 2024
  • Region: Global
  • Markets and Markets
  • ID: 5145036
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The global heat pump water heater market is estimated to grow from USD 5.2 billion in 2023 to USD 10.2 billion by 2028; it is expected to record a CAGR of 14.4% during the forecast period. The growing demand for heat pump water heaters can be attributed to an increase in awareness for sustainable development. Consumers are becoming more environmentally conscious and are seeking energy-efficient and sustainable heating solutions. The majority of governments around the globe are implementing various policies and schemes to promote the adoption of energy-efficient technologies, including heat pump water heaters. These supportive regulations have helped to drive the market's growth and increase consumer interest in sustainable and green heating solutions.

Upto 500 Litres Heat pump water heaters: The largest segment of the heat pump water heater market, by Storage Tank Capacity

Based on Storage tank capacity, the heat pump water heater market is categorized into three categories: up to 500 liters, 500 - 1,000 liters, and above 1,000 liters. According to 2022, Up to 500 liters segment is expected to be the largest segment. The market for heat pump water heaters has a lot of units with 500-liter storage tanks since efficiency, usability, and customer demand have all been carefully balanced. Because it can optimally consume energy while efficiently supplying hot water for daily home demands, this particular capability has become more and more common. Data from the Energy Technology Systems Analysis Program of the International Energy Agency (IEA) show that the average daily demand for hot water in homes in Europe is 24 liters per person. This indicates that heat pump water heaters larger than 500 liters are not always necessary for the residential sector, which makes them perfect for the home sector. The 500-liter tank achieves a balance that guarantees a plentiful supply of hot water without needless surplus, which could waste electricity. Its dimensions are in line with those of residential buildings, and it easily fits into the available places.

By End user industry, Residential segment is expected to be the fastest growing segment during the forecast period

Based on the end user segment, the heat pump water heater market is segmented into three categories: residential, commercial, and industrial. The Residential segment is expected to be the fastest growing segment during the forecast period of 2023 - 2028 at a CAGR of 15.7%. These systems' compact design and adaptability not only make them ideal for a range of residential living spaces but they also highlight how well they integrate with a variety of architectural layouts and spatial restrictions. Installing heat pump water heaters in small apartments, roomy single-family homes, or multi-story buildings guarantees that the least amount of space is needed. The adaptability and compact design of these systems not only make them well-suited for a variety of living spaces within the residential sector but also underscore their versatility in seamlessly integrating with diverse architectural layouts and spatial constraints. Whether installed in compact apartments, spacious single-family homes, or multi-story residences, the compact footprint of heat pump water heaters ensures minimal space requirements. Growing demand for energy-efficient HVAC systems in urbanized areas, cost savings, environmental awareness have made the fastest growing market for residential in heat pump water heaters.

North America is expected to be the second largest growing region in the heat pump water heater market

North America is expected to be the second largest region in the heat pump water heater market during the forecast period. North America is divided into the US, Canada, and Mexico. The North American heat pump market has expanded as demand for heating, ventilation, and air-conditioning (HVAC) systems has increased. Factors such as rising demand for ecologically friendly heating solutions, expansion of the residential and commercial building sectors, and technological advancements in heat pump water heaters are also contributing to market growth. It is utilized in a wide range of domestic, commercial, and industrial applications, including general manufacturing, chemical and petroleum, food and drinks, utilities, textile and leather, wood goods, metal, and others. There are numerous government incentives for heat pump water heaters in North America. For instance, the federal tax credits up to 30% of the cost of the equipment, i.e., $2,000 for heat pump water heaters, and there are also state-level or utility-level incentives available in many states.

Breakdown of Primaries

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1 - 60%, Tier 2 - 25%, and Tier 3 - 15%
  • By Designation: C-Level - 35%, Director Level - 25%, and Others - 40%
  • By Region: North America - 36%, Europe - 19%, Asia Pacific - 33%, Rest of the World - 4%

Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The heat pump water heater market is dominated by a few major players that have a wide regional presence. The leading players in the heat pump water heater market are Panasonic Holding Corporation (Japan), LG Electronics (South Korea), Johnson Controls-Hitachi Air Conditioning (Japan), Mitsubishi Electric (Japan), and Trane Technologies (US). The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.

Research Coverage

The report defines, describes, and forecasts the global heat pump water heater market by, source, technology, generation and delivery mode, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the heat pump water heater market.

Key Benefits of Buying the Report

  • Government initiatives at the national and international levels amplify the impact of investment on the heat pump water heater market. Robust policy frameworks, often accompanied by financial incentives, subsidies, and regulatory support, encourage widespread adoption of heat pump water heaters for green hydrogen production. Factors such as high initial cost and lack of infrastructure restrain the growth of the market. The growing energy transition towards renewable energy sources and rapid urbanization are expected to present lucrative opportunities for the players operating in the heat pump water heater market.
  • Product Development/ Innovation: The heat pump water heater market is witnessing significant product development and innovation, driven by the growing demand for environmentally friendly, safe and sustainable products. Companies are investing in developing advanced heat pump water heater technologies for various applications.
  • Market Development: Panasonic Corporation partnered with Systemair on technology to launch heating and cooling products to offer its customers more options related to HVAC products, including heat pumps. Both companies will have their separate sales channels and branding for these products.
  • Market Diversification: Daikin Industries, Ltd. has recently established a new factory for heat pump units at the Ksawerów Industrial Park in Lodz Province, Poland. The new production base will start operations in July 2024 to meet the rapidly increasing demand for heat pumps in Europe.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include Panasonic Holding Corporation (Japan), LG Electronics (South Korea), Johnson Controls-Hitachi Air Conditioning (Japan), Mitsubishi Electric (Japan), and Trane Technologies (US) among others in the heat pump water heater market

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Regional Scope
1.3.3 Years Considered
1.3.4 Currency Considered
1.3.5 Units Considered
1.4 Limitations
1.5 Stakeholders
1.6 Summary of Changes
1.7 Impact of Recession
2 Research Methodology
2.1 Research Data
Figure 1 Heat Pump Water Heater Market: Research Design
2.1.1 Secondary Data
Table 1 List of Major Secondary Sources
2.1.1.1 Key Secondary Sources
2.1.2 Primary Data
Table 2 List of Primary Interview Participants
2.1.2.1 Key Industry Insights
2.1.2.2 Breakdown of Primaries
Figure 2 Breakdown of Primaries
2.2 Market Breakdown and Data Triangulation
Figure 3 Data Triangulation
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
Figure 4 Heat Pump Water Heater Market: Bottom-Up Approach
2.3.2 Top-Down Approach
Figure 5 Heat Pump Water Heater Market: Top-Down Approach
2.4 Demand-Side Analysis
Figure 6 Heat Pump Water Heater Market: Demand-Side Analysis
2.4.1 Demand-Side Metrics
Figure 7 Metrics Considered to Analyze and Assess Demand for Heat Pump Water Heaters
2.4.1.1 Assumptions for Demand-Side Analysis
2.4.1.2 Calculations for Demand-Side Analysis
2.5 Supply-Side Analysis
2.5.1 Supply-Side Metrics
Figure 8 Key Metrics Considered to Assess Supply of Heat Pump Water Heaters
Figure 9 Heat Pump Water Heater Market: Supply-Side Analysis
2.5.1.1 Calculations for Supply-Side Analysis
2.5.1.2 Assumptions for Supply-Side Analysis
2.6 Forecast
2.7 Risk Assessment
2.8 Recession Impact
3 Executive Summary
Table 3 Heat Pump Water Heater Market Snapshot
Figure 10 Asia-Pacific Held Largest Share of Heat Pump Water Heater Market in 2022
Figure 11 Up to 10 kW Segment to Lead Heat Pump Water Heater Market in 2028
Figure 12 Air-To-Air Heat Pump Water Heaters Segment to Hold Largest Share of Heat Pump Water Heater Market in 2028
Figure 13 R410A Segment to Dominate Heat Pump Water Heater Market in 2028
Figure 14 Up to 500 Liters Segment to Dominate Heat Pump Water Heater Market in 2028
Figure 15 Residential Segment to Dominate Heat Pump Water Heater Market in 2028
4 Premium Insights
4.1 Attractive Opportunities for Players in Heat Pump Water Heater Market
Figure 16 Rising Demand for Residential and Commercial Water Heating Solutions
4.2 Heat Pump Water Heater Market, by Region
Figure 17 European Heat Pump Water Heater Market to Exhibit Highest CAGR During Forecast Period
4.3 Asia-Pacific Heat Pump Water Heater Market, by End-user and Country
Figure 18 Residential Segment and China Held Largest Shares of Asia-Pacific Heat Pump Water Heater Market in 2022
4.4 Heat Pump Water Heater Market, by Type
Figure 19 Air-To-Air Heat Pump Water Heaters Segment to Account for Largest Market Share in 2028
4.5 Heat Pump Water Heater Market, by Rated Capacity
Figure 20 10-20 kW Segment to Account for Largest Share of Heat Pump Water Heater Market in 2028
4.6 Heat Pump Water Heater Market, by End-user
Figure 21 Residential Segment to Dominate Heat Pump Water Heater Market in 2028
4.7 Heat Pump Water Heater Market, by Storage Tank Capacity
Figure 22 Up to 500 Liters Segment to Dominate Heat Pump Water Heater Market in 2028
4.8 Heat Pump Water Heater Market, by Refrigerant Type
Figure 23 R410A Segment to Dominate Heat Pump Water Heater Market in 2028
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 24 Heat Pump Water Heater Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Increasing Installation of Heat Pump Water Heaters in Residential, Commercial, and Industrial Sectors to Reduce Carbon Dioxide (Co2) Emissions
5.2.1.2 Government-Led Incentives and Regulations to Enhance Energy Efficiency
5.2.2 Restraints
5.2.2.1 Variability in Performance of Heat Pump Water Heaters Based on Climatic Conditions
5.2.2.2 Complexities Associated with Installation and Maintenance of Heat Pump Water Heaters
5.2.3 Opportunities
5.2.3.1 Expansion of Heat Pump Water Heater Market in Emerging Economies and Untapped Regions
5.2.3.2 Integration of Internet of Things (IoT) with Heat Pump Water Heaters
5.2.3.3 Increased Sales of Heat Pumps in Europe
Figure 25 Annual Sales Growth of Heat Pumps Worldwide and Selected Markets Between 2021 and 2022
5.2.4 Challenges
5.2.4.1 Lack of Awareness Regarding Benefits of Heat Pump Water Heaters in Developing and Underdeveloped Countries
5.2.4.2 High Installation Cost
5.3 Trends/Disruptions Impacting Customers’ Businesses
Figure 26 Trends/Disruptions Impacting Customers’ Businesses
5.4 Pricing Analysis
5.4.1 Indicative Price Trend of Heat Pump Water Heaters, by Region
Table 4 Indicative Price Trend of Heat Pump Water Heaters, by Region, 2022-2028 (USD)
5.4.2 Indicative Price Trend of Heat Pump Water Heaters, by End-user
Table 5 Indicative Price Trend of Heat Pump Water Heaters, by End-user, 2022-2028 (USD)
5.5 Supply Chain Analysis
Figure 27 Heat Pump Water Heater Market: Supply Chain Analysis
5.5.1 Raw Material Suppliers
5.5.2 Original Equipment Manufacturers (OEMs)
5.5.3 Distributors
5.5.4 End-users
5.6 Ecosystem/Market Map
Figure 28 Heat Pump Water Heater Market Map
Table 6 Companies and Their Roles in Heat Pump Water Heater Ecosystem
5.7 Regulatory Landscape
5.7.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 7 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 8 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 South America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 Middle East & Africa: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.7.2 Regulatory Framework Related to Heat Pump Water Heaters
5.7.2.1 Regulatory Framework in North America
5.7.2.2 Regulatory Framework in Europe
5.7.2.3 Regulatory Framework in Asia-Pacific
5.7.2.4 Regulatory Framework in RoW
5.8 Patent Analysis
Figure 29 Heat Pump Water Heater Market: Innovations and Patent Registrations, 2012-2022
Table 12 Heat Pump Water Heater Market: Innovations and Patent Registrations, 2018-2022
5.9 Case Study Analysis
5.9.1 Commercial Facility Used Daikin Industries’ Heat Pump Water Heater to Revolutionize Water Heating Efficiency
5.9.2 Industrial Plant Implemented Carrier Aquaedge 19Dv Water-Cooled Chiller with Heat Recovery to Reduce Energy Costs, Increase Operational Efficiency, and Minimize Environmental Impact
5.9.3 Hotel Deployed A. O. Smith Voltex Hybrid Electric Heat Pump Water Heater to Enhance Hospitality with Sustainable Hot Water Solutions
5.10 Technology Analysis
5.10.1 Hybrid Heat Pump Systems
5.10.2 Energy Recovery Systems
5.10.3 Variable Speed Compressors
5.11 Key Conferences and Events, 2023-2024
Table 13 Heat Pump Water Heater Market: List of Key Conferences and Events, 2023-2024
5.12 Trade Analysis
5.12.1 Export Scenario
Table 14 Export Data for HS Code 8418-Compliant Products, by Country, 2020-2022 (USD Thousand)
Figure 30 Export Data for HS Code 8418-Compliant Products for Top Five Countries, 2020-2022 (USD Thousand)
5.12.2 Import Scenario
Table 15 Import Scenario for HS Code 8418-Compliant Products, by Country, 2020-2022 (USD Thousand)
Figure 31 Import Data for HS Code 8418-Compliant Products for Top Five Countries, 2020-2022 (USD Thousand)
5.13 Porter's Five Forces Analysis
Figure 32 Heat Pump Water Heater Market: Porter's Five Forces Analysis
Table 16 Heat Pump Water Heater Market: Porter's Five Forces Analysis
5.13.1 Threat of Substitutes
5.13.2 Bargaining Power of Suppliers
5.13.3 Bargaining Power of Buyers
5.13.4 Threat of New Entrants
5.13.5 Intensity of Competitive Rivalry
5.14 Key Stakeholders and Buying Criteria
5.14.1 Key Stakeholders in Buying Process
Figure 33 Influence of Key Stakeholders on Buying Process, by End-user
Table 17 Influence of Stakeholders on Buying Process, by End-user (%)
5.14.2 Buying Criteria
Figure 34 Key Buying Criteria, by End-user
Table 18 Key Buying Criteria, by End-user
6 Heat Pump Water Heater Market, by Storage Tank Capacity
6.1 Introduction
Figure 35 Heat Pump Water Heater Market, by Storage Tank Capacity, 2022
Table 19 Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 20 Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
6.2 Up to 500 Liters
6.2.1 Government Subsidies for Residential Heat Pumps to Drive Demand
Table 21 Up to 500 Liters: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 22 Up to 500 Liters: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
6.3 500-1,000 Liters
6.3.1 Capability to Provide Heating to Small Commercial Businesses to Fuel Demand
Table 23 500-1,000 Liters: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 24 500-1,000 Liters: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
6.4 Above 1,000 Liters
6.4.1 Need to Replace Conventional Heating Methods with Energy-Efficient Ones and Technological Advancements in Heat Pump Water Heaters to Fuel Demand
Table 25 Above 1,000 Liters: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 26 Above 1,000 Liters: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
7 Heat Pump Water Heater Market, by End-user
7.1 Introduction
Figure 36 Heat Pump Water Heater Market, by End-user, 2022
Table 27 Heat Pump Water Heater Market, by End-user, 2019-2022 (Thousand Units)
Table 28 Heat Pump Water Heater Market, by End-user, 2023-2028 (Thousand Units)
Table 29 Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 30 Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
7.2 Residential
7.2.1 Government Programmes Aimed at Enhancing Energy Efficiency to Increase Demand
Table 31 Residential: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 32 Residential: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
7.3 Commercial
7.3.1 Growing Focus on Using Renewable Energy Sources for Commercial Operations to Drive Market
Table 33 Commercial: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 34 Commercial: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
7.4 Industrial
7.4.1 Energy-Efficient Design to Fuel Demand
Table 35 Industrial: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 36 Industrial: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
8 Heat Pump Water Heater Market, by Rated Capacity
8.1 Introduction
Figure 37 Heat Pump Water Heater Market, by Rated Capacity, 2022
Table 37 Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 38 Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
8.2 Up to 10 kW
8.2.1 Suitability for Single-Family Houses to Drive Demand
Table 39 Up to 10 kW: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 40 Up to 10 kW: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
8.3 10-20 kW
8.3.1 Growing Demand in Residential Sector to Fuel Market Growth
Table 41 10-20 kW: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 42 10-20 kW: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
8.4 20-30 kW
8.4.1 Ability to Meet Heating Requirements of Commercial Sector to Fuel Demand
Table 43 20-30 kW: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 44 20-30 kW: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
8.5 30-100 kW
8.5.1 Growing Demand from Small and Medium-Sized Commercial Buildings to Drive Market
Table 45 30-100 kW: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 46 30-100 kW: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
8.6 100-150 kW
8.6.1 Increasing Heating Demand from Large Commercial Operators to Drive Market
Table 47 100-150 kW: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 48 100-150 kW: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
8.7 Above 150 kW
8.7.1 Rising High-Volume Hot Water Demand in Various Industries to Boost Installation
Table 49 Above 150 kW: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 50 Above 150 kW: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
9 Heat Pump Water Heater Market, by Type
9.1 Introduction
Figure 38 Heat Pump Water Heater Market, by Type, 2022
Table 51 Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 52 Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
9.2 Air-To-Air Heat Pump Water Heaters
9.2.1 Low Installation Cost to Boost Demand
Table 53 Air-To-Air Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 54 Air-To-Air Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
9.3 Air-To-Water Heat Pump Water Heaters
9.3.1 Increasing Inclination Toward Sustainable Alternatives to Minimize Energy Consumption to Fuel Demand
Table 55 Air-To-Water Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 56 Air-To-Water Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
9.4 Water-Source Heat Pump Water Heaters
9.4.1 Growing Awareness Regarding Reducing Carbon Footprint to Drive Demand
Table 57 Water-Source Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 58 Water-Source Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
9.5 Ground-Source (Geothermal) Heat Pump Water Heater
9.5.1 High Efficiency and Emergence as Sustainable Alternative to Traditional Heat Pumps to Drive Market
Table 59 Ground-Source (Geothermal) Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 60 Ground-Source (Geothermal) Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
9.6 Hybrid Heat Pump Water Heater
9.6.1 Government-Led Support and Versatility for Use in All Seasons to Drive Demand
Table 61 Hybrid Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 62 Hybrid Heat Pump Water Heaters: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
10 Heat Pump Water Heater Market, by Refrigerant Type
10.1 Introduction
Figure 39 Heat Pump Water Heater Market, by Refrigerant Type, 2022
Table 63 Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 64 Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
10.2 R410A
10.2.1 Rising Demand in Various Sectors due to Versatility and Effectiveness to Drive Market
Table 65 R410A: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 66 R410A: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
10.3 R407C
10.3.1 Growing Demand for Heating, Ventilation, and Air Conditioning (HVAC) Systems with Rapid Urbanization and Rising Disposable Income to Drive Market
Table 67 R407C: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 68 R407C: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
10.4 R744
10.4.1 Eco-Friendly Operational Features to Propel Demand
Table 69 R744: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 70 R744: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
10.5 Others
Table 71 Others: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 72 Others: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
11 Heat Pump Water Heater Market, by Region
11.1 Introduction
Figure 40 European Heat Pump Water Heater Market to Register Highest CAGR During Forecast Period
Figure 41 Heat Pump Water Heater Market, by Region, 2022
Table 73 Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 74 Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
Table 75 Heat Pump Water Heater Market, by Region, 2019-2022 (Thousand Units)
Table 76 Heat Pump Water Heater Market, by Region, 2023-2028 (Thousand Units)
11.2 Asia-Pacific
Figure 42 Asia-Pacific: Heat Pump Water Heater Market Snapshot
11.2.1 Asia-Pacific Heat Pump Water Heater Market: Recession Impact
11.2.2 By Type
Table 77 Asia-Pacific: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 78 Asia-Pacific: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.2.3 By Storage Tank Capacity
Table 79 Asia-Pacific: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 80 Asia-Pacific: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.2.4 By Rated Capacity
Table 81 Asia-Pacific: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 82 Asia-Pacific: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.2.5 By Refrigerant Type
Table 83 Asia-Pacific: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 84 Asia-Pacific: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.2.6 By End-user
Table 85 Asia-Pacific: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 86 Asia-Pacific: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.2.7 By Country
Table 87 Asia-Pacific: Heat Pump Water Heater Market, by Region, 2019-2022 (USD Million)
Table 88 Asia-Pacific: Heat Pump Water Heater Market, by Region, 2023-2028 (USD Million)
11.2.7.1 India
11.2.7.1.1 Government-Led Initiatives for Boosting Adoption of Renewable Energy to Drive Market
11.2.7.1.2 By Type
Table 89 India: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 90 India: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.2.7.1.3 By Storage Tank Capacity
Table 91 India: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 92 India: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.2.7.1.4 By Rated Capacity
Table 93 India: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 94 India: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.2.7.1.5 By Refrigerant Type
Table 95 India: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 96 India: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.2.7.1.6 By End-user
Table 97 India: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 98 India: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.2.7.2 China
11.2.7.2.1 Growing Urban Population and Initiatives to Minimize Pollution to Drive Demand
11.2.7.2.2 By Type
Table 99 China: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 100 China: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.2.7.2.3 By Storage Tank Capacity
Table 101 China: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 102 China: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.2.7.2.4 By Rated Capacity
Table 103 China: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 104 China: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.2.7.2.5 By Refrigerant Type
Table 105 China: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 106 China: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.2.7.2.6 By End-user
Table 107 China: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 108 China: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.2.7.3 Australia
11.2.7.3.1 Favorable Environmental Conditions and Focus on Developing Renewable Industry to Drive Demand
11.2.7.3.2 By Type
Table 109 Australia: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 110 Australia: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.2.7.3.3 By Storage Tank Capacity
Table 111 Australia: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 112 Australia: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.2.7.3.4 By Rated Capacity
Table 113 Australia: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 114 Australia: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.2.7.3.5 By Refrigerant Type
Table 115 Australia: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 116 Australia: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.2.7.3.6 By End-user
Table 117 Australia: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 118 Australia: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.2.7.4 Japan
11.2.7.4.1 Growing Focus on Minimizing Pollution to Drive Demand
11.2.7.4.2 By Type
Table 119 Japan: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 120 Japan: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.2.7.4.3 By Storage Tank Capacity
Table 121 Japan: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 122 Japan: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.2.7.4.4 By Rated Capacity
Table 123 Japan: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 124 Japan: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.2.7.4.5 By Refrigerant Type
Table 125 Japan: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 126 Japan: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.2.7.4.6 By End-user
Table 127 Japan: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 128 Japan: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.2.7.5 South Korea
11.2.7.5.1 Increasing Demand for Energy-Efficient and Environmentally Friendly Heating Solutions to Drive Market
11.2.7.5.2 By Type
Table 129 South Korea: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 130 South Korea: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.2.7.5.3 By Storage Tank Capacity
Table 131 South Korea: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 132 South Korea: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.2.7.5.4 By Rated Capacity
Table 133 South Korea: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 134 South Korea: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.2.7.5.5 By Refrigerant Type
Table 135 South Korea: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 136 South Korea: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.2.7.5.6 By End-user
Table 137 South Korea: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 138 South Korea: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.2.7.6 Rest of Asia-Pacific
11.2.7.6.1 By Type
Table 139 Rest of Asia-Pacific: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 140 Rest of Asia-Pacific: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.2.7.6.2 By Storage Tank Capacity
Table 141 Rest of Asia-Pacific: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 142 Rest of Asia-Pacific: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.2.7.6.3 By Rated Capacity
Table 143 Rest of Asia-Pacific: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 144 Rest of Asia-Pacific: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.2.7.6.4 By Refrigerant Type
Table 145 Rest of Asia-Pacific: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 146 Rest of Asia-Pacific: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.2.7.6.5 By End-user
Table 147 Rest of Asia-Pacific: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 148 Rest of Asia-Pacific: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.3 Europe
Figure 43 Europe: Heat Pump Water Heater Market Snapshot
11.3.1 European Heat Pump Water Heater Market: Recession Impact
11.3.2 By Type
Table 149 Europe: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 150 Europe: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.3.3 By Storage Tank Capacity
Table 151 Europe: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 152 Europe: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.3.4 By Rated Capacity
Table 153 Europe: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 154 Europe: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.3.5 By Refrigerant Type
Table 155 Europe: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 156 Europe: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.3.6 By End-user
Table 157 Europe: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 158 Europe: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.3.7 By Country
Table 159 Europe: Heat Pump Water Heater Market, by Country, 2019-2022 (USD Million)
Table 160 Europe: Heat Pump Water Heater Market, by Country, 2023-2028 (USD Million)
11.3.7.1 UK
11.3.7.1.1 Growth in Private Housing and Demand for Renewable Heat Generation to Drive Market
11.3.7.1.2 By Type
Table 161 UK: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 162 UK: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.3.7.1.3 By Storage Tank Capacity
Table 163 UK: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 164 UK: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.3.7.1.4 By Rated Capacity
Table 165 UK: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 166 UK: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.3.7.1.5 By Refrigerant Type
Table 167 UK: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 168 UK: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.3.7.1.6 By End-user
Table 169 UK: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 170 UK: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.3.7.2 Italy
11.3.7.2.1 Government-Led Schemes for Boosting Installation of Heat Pump Water Heaters to Drive Market
11.3.7.2.2 By Type
Table 171 Italy: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 172 Italy: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.3.7.2.3 By Storage Tank Capacity
Table 173 Italy: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 174 Italy: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.3.7.2.4 By Rated Capacity
Table 175 Italy: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 176 Italy: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.3.7.2.5 By Refrigerant Type
Table 177 Italy: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 178 Italy: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.3.7.2.6 By End-user
Table 179 Italy: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 180 Italy: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.3.7.3 Germany
11.3.7.3.1 Government-Led Initiatives for Sustainable Development to Fuel Demand
11.3.7.3.2 By Type
Table 181 Germany: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 182 Germany: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.3.7.3.3 By Storage Tank Capacity
Table 183 Germany: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 184 Germany: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.3.7.3.4 By Rated Capacity
Table 185 Germany: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 186 Germany: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.3.7.3.5 By Refrigerant Type
Table 187 Germany: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 188 Germany: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.3.7.3.6 By End-user
Table 189 Germany: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 190 Germany: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.3.7.4 France
11.3.7.4.1 Government Policies to Enhance Energy Efficiency, Particularly in Building Sector, to Drive Market
11.3.7.4.2 By Type
Table 191 France: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 192 France: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.3.7.4.3 By Storage Tank Capacity
Table 193 France: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 194 France: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.3.7.4.4 By Rated Capacity
Table 195 France: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 196 France: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.3.7.4.5 By Refrigerant Type
Table 197 France: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 198 France: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.3.7.4.6 By End-user
Table 199 France: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 200 France: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.3.7.5 Rest of Europe
11.3.7.5.1 By Type
Table 201 Rest of Europe: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 202 Rest of Europe: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.3.7.5.2 By Storage Tank Capacity
Table 203 Rest of Europe: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 204 Rest of Europe: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.3.7.5.3 By Rated Capacity
Table 205 Rest of Europe: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 206 Rest of Europe: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.3.7.5.4 By Refrigerant Type
Table 207 Rest of Europe: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 208 Rest of Europe: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.3.7.5.5 By End-user
Table 209 Rest of Europe: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 210 Rest of Europe: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.4 North America
11.4.1 North American Heat Pump Water Heater Market: Recession Impact
11.4.2 By Type
Table 211 North America: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 212 North America: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.4.3 By Rated Capacity
Table 213 North America: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 214 North America: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.4.4 By Refrigerant Type
Table 215 North America: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 216 North America: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.4.5 By Storage Tank Capacity
Table 217 North America: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 218 North America: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.4.6 By End-user
Table 219 North America: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 220 North America: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.4.7 By Country
Table 221 North America: Heat Pump Water Heater Market, by Country, 2019-2022 (USD Million)
Table 222 North America: Heat Pump Water Heater Market, by Country, 2023-2028 (USD Million)
11.4.7.1 US
11.4.7.1.1 Elevated Demand for Energy-Efficient Water Heating Systems in Residential and Commercial Sectors to Drive Market
11.4.7.1.2 By Type
Table 223 US: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 224 US: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.4.7.1.3 By Rated Capacity
Table 225 US: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 226 US: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.4.7.1.4 By Refrigerant Type
Table 227 US: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 228 US: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.4.7.1.5 By Storage Tank Capacity
Table 229 US: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 230 US: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.4.7.1.6 By End-user
Table 231 US: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 232 US: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.4.7.2 Canada
11.4.7.2.1 High Focus on Adopting Innovative Technologies to Reduce Energy Wastage and Loss to Fuel Demand
11.4.7.2.2 By Type
Table 233 Canada: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 234 Canada: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.4.7.2.3 By Rated Capacity
Table 235 Canada: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 236 Canada: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.4.7.2.4 By Refrigerant Type
Table 237 Canada: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 238 Canada: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.4.7.2.5 By Storage Tank Capacity
Table 239 Canada: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 240 Canada: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.4.7.2.6 By End-user
Table 241 Canada: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 242 Canada: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.4.7.3 Mexico
11.4.7.3.1 Transition Toward Eco-Friendly Heat Pump Water Heaters to Drive Market
11.4.7.3.2 By Type
Table 243 Mexico: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 244 Mexico: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.4.7.3.3 By Rated Capacity
Table 245 Mexico: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 246 Mexico: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.4.7.3.4 By Refrigerant Type
Table 247 Mexico: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 248 Mexico: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.4.7.3.5 By Storage Tank Capacity
Table 249 Mexico: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 250 Mexico: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.4.7.3.6 By End-user
Table 251 Mexico: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 252 Mexico: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.5 Middle East & Africa
11.5.1 Middle Eastern & African Heat Pump Water Heater Market: Recession Impact
11.5.2 By Type
Table 253 Middle East & Africa: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 254 Middle East & Africa: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.5.3 By Rated Capacity
Table 255 Middle East & Africa: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 256 Middle East & Africa: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.5.4 By Refrigerant Type
Table 257 Middle East & Africa: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 258 Middle East & Africa: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.5.5 By Storage Tank Capacity
Table 259 Middle East & Africa: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 260 Middle East & Africa: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.5.6 By End-user
Table 261 Middle East & Africa: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 262 Middle East & Africa: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.5.7 By Country
Table 263 Middle East & Africa: Heat Pump Water Heater Market, by Country, 2019-2022 (USD Million)
Table 264 Middle East & Africa: Heat Pump Water Heater Market, by Country, 2023-2028 (USD Million)
11.5.7.1 GCC
11.5.7.1.1 Saudi Arabia
11.5.7.1.1.1 Increasing Investments in Industrial Sector to Boost Demand
11.5.7.1.2 By Type
Table 265 Saudi Arabia: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 266 Saudi Arabia: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.5.7.1.3 By Rated Capacity
Table 267 Saudi Arabia: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 268 Saudi Arabia: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.5.7.1.4 By Refrigerant Type
Table 269 Saudi Arabia: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 270 Saudi Arabia: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.5.7.1.5 By Storage Tank Capacity
Table 271 Saudi Arabia: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 272 Saudi Arabia: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.5.7.1.6 By End-user
Table 273 Saudi Arabia: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 274 Saudi Arabia: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.5.7.1.7 UAE
11.5.7.1.7.1 Transformation in Consumer Lifestyles to Fuel the Demand
11.5.7.1.8 By Type
Table 275 UAE: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 276 UAE: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.5.7.1.9 By Rated Capacity
Table 277 UAE: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 278 UAE: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.5.7.1.10 By Refrigerant Type
Table 279 UAE: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 280 UAE: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.5.7.1.11 By Storage Tank Capacity
Table 281 UAE: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 282 UAE: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.5.7.1.12 By End-user
Table 283 UAE: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 284 UAE: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.5.7.1.13 Rest of GCC
11.5.7.1.14 By Type
Table 285 Rest of GCC: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 286 Rest of GCC: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.5.7.1.15 By Rated Capacity
Table 287 Rest of GCC: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 288 Rest of GCC: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.5.7.1.16 By Refrigerant Type
Table 289 Rest of GCC: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 290 Rest of GCC: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.5.7.1.17 By Storage Tank Capacity
Table 291 Rest of GCC: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 292 Rest of GCC: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.5.7.1.18 By End-user
Table 293 Rest of GCC: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 294 Rest of GCC: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.5.7.2 South Africa
11.5.7.2.1 Increasing Investments in Different Projects to Drive Demand
11.5.7.2.2 By Type
Table 295 South Africa: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 296 South Africa: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.5.7.2.3 By Rated Capacity
Table 297 South Africa: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 298 South Africa: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.5.7.2.4 By Refrigerant Type
Table 299 South Africa: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 300 South Africa: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.5.7.2.5 By Storage Tank Capacity
Table 301 South Africa: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 302 South Africa: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.5.7.2.6 By End-user
Table 303 South Africa: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 304 South Africa: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.5.7.3 Rest of Middle East & Africa
11.5.7.3.1 By Type
Table 305 Rest of Middle East & Africa: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 306 Rest of Middle East & Africa: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.5.7.3.2 By Rated Capacity
Table 307 Rest of Middle East & Africa: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 308 Rest of Middle East & Africa: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.5.7.3.3 By Refrigerant Type
Table 309 Rest of Middle East & Africa: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 310 Rest of Middle East & Africa: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.5.7.3.4 By Storage Tank Capacity
Table 311 Rest of Middle East & Africa: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 312 Rest of Middle East & Africa: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.5.7.3.5 By End-user
Table 313 Rest of Middle East & Africa: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 314 Rest of Middle East & Africa: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.6 South America
11.6.1 South American Heat Pump Water Heater Market: Recession Impact
11.6.2 By Type
Table 315 South America: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 316 South America: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.6.3 By Rated Capacity
Table 317 South America: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 318 South America: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.6.4 By Refrigerant Type
Table 319 South America: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 320 South America: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.6.5 By Storage Tank Capacity
Table 321 South America: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 322 South America: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.6.6 By End-user
Table 323 South America: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 324 South America: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.6.7 By Country
Table 325 South America: Heat Pump Water Heater Market, by Country, 2019-2022 (USD Million)
Table 326 South America: Heat Pump Water Heater Market, by Country, 2023-2028 (USD Million)
11.6.7.1 Brazil
11.6.7.1.1 Effective Performance in Various Climatic Conditions to Drive Demand
11.6.7.1.2 By Type
Table 327 Brazil: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 328 Brazil: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.6.7.1.3 By Rated Capacity
Table 329 Brazil: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 330 Brazil: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.6.7.1.4 By Refrigerant Type
Table 331 Brazil: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 332 Brazil: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.6.7.1.5 By Storage Tank Capacity
Table 333 Brazil: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 334 Brazil: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.6.7.1.6 By End-user
Table 335 Brazil: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 336 Brazil: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.6.7.2 Argentina
11.6.7.2.1 Technological Advancements to Drive Demand
11.6.7.2.2 By Type
Table 337 Argentina: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 338 Argentina: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.6.7.2.3 By Rated Capacity
Table 339 Argentina: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 340 Argentina: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.6.7.2.4 By Refrigerant Type
Table 341 Argentina: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 342 Argentina: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.6.7.2.5 By Storage Tank Capacity
Table 343 Argentina: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 344 Argentina: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.6.7.2.6 By End-user
Table 345 Argentina: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 346 Argentina: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
11.6.7.3 Rest of South America
11.6.7.3.1 By Type
Table 347 Rest of South America: Heat Pump Water Heater Market, by Type, 2019-2022 (USD Million)
Table 348 Rest of South America: Heat Pump Water Heater Market, by Type, 2023-2028 (USD Million)
11.6.7.3.2 By Rated Capacity
Table 349 Rest of South America: Heat Pump Water Heater Market, by Rated Capacity, 2019-2022 (USD Million)
Table 350 Rest of South America: Heat Pump Water Heater Market, by Rated Capacity, 2023-2028 (USD Million)
11.6.7.3.3 By Refrigerant Type
Table 351 Rest of South America: Heat Pump Water Heater Market, by Refrigerant Type, 2019-2022 (USD Million)
Table 352 Rest of South America: Heat Pump Water Heater Market, by Refrigerant Type, 2023-2028 (USD Million)
11.6.7.3.4 By Storage Tank Capacity
Table 353 Rest of South America: Heat Pump Water Heater Market, by Storage Tank Capacity, 2019-2022 (USD Million)
Table 354 Rest of South America: Heat Pump Water Heater Market, by Storage Tank Capacity, 2023-2028 (USD Million)
11.6.7.3.5 By End-user
Table 355 Rest of South America: Heat Pump Water Heater Market, by End-user, 2019-2022 (USD Million)
Table 356 Rest of South America: Heat Pump Water Heater Market, by End-user, 2023-2028 (USD Million)
12 Competitive Landscape
12.1 Overview
12.2 Strategies Adopted by Key Players, 2019-2023
Table 357 Heat Pump Water Heater Market: Overview of Strategies Adopted by Key Players, 2019-2023
12.3 Market Share Analysis, 2022
Table 358 Heat Pump Water Heater Market: Degree of Competition
Figure 44 Market Share Analysis of Top Players, 2022
12.4 Market Evaluation Framework, 2019-2023
Table 359 Market Evaluation Framework, 2019-2023
12.5 Revenue Analysis, 2018-2022
Figure 45 Heat Pump Water Heater Market: Segmental Revenue Analysis, 2018-2022
12.6 Competitive Scenarios and Trends
12.6.1 Deals
Table 360 Heat Pump Water Heater Market: Deals, 2019-2023
12.6.2 Others
Table 361 Heat Pump Water Heater Market: Others, 2019-2023
12.7 Company Evaluation Matrix (Key Players), 2022
12.7.1 Stars
12.7.2 Emerging Leaders
12.7.3 Pervasive Players
12.7.4 Participants
Figure 46 Heat Pump Water Heater Market: Company Evaluation Matrix (Key Players), 2022
12.7.5 Company Footprint (Key Players)
Table 362 Type: Company Footprint
Table 363 Storage Tank Capacity: Company Footprint
Table 364 Rated Capacity: Company Footprint
Table 365 Refrigerant Type: Company Footprint
Table 366 End-user: Company Footprint
Table 367 Region: Company Footprint
Table 368 Company Overall Footprint
12.8 Company Evaluation Matrix (Other Players), 2022
12.8.1 Stars
12.8.2 Emerging Leaders
12.8.3 Pervasive Players
12.8.4 Participants
Figure 47 Heat Pump Water Heater Market: Company Evaluation Matrix (Other Players), 2022
12.8.5 Company Footprint (Other Players)
Table 369 Type: Company Footprint (Other Players)
Table 370 Storage Tank Capacity: Company Footprint (Other Players)
Table 371 Rated Capacity: Company Footprint (Other Players)
Table 372 Refrigerant Type: Company Footprint (Other Players)
Table 373 End-user: Company Footprint (Other Players)
Table 374 Region: Company Footprint (Other Players)
Table 375 Company Overall Footprint (Other Players)
13 Company Profiles
13.1 Key Players
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)*
13.1.1 Panasonic Corporation
Table 376 Panasonic Corporation: Company Overview
Figure 48 Panasonic Corporation: Company Snapshot
Table 377 Panasonic Corporation: Products/Services/Solutions Offered
Table 378 Panasonic Corporation: Product Launches
Table 379 Panasonic Corporation: Deals
Table 380 Panasonic Corporation: Others
13.1.2 Lg Electronics
Table 381 Lg Electronics: Company Overview
Figure 49 Lg Electronics: Company Snapshot
Table 382 Lg Electronics: Products/Solutions/Services Offered
13.1.3 Johnson Controls-Hitachi Air Conditioning
Table 383 Johnson Controls-Hitachi Air Conditioning: Company Overview
Figure 50 Johnson Controls-Hitachi Air Conditioning: Company Snapshot
Table 384 Johnson Controls-Hitachi Air Conditioning: Products/Solutions/Services Offered
Table 385 Johnson Controls-Hitachi Air Conditioning: Product Launches
Table 386 Johnson Controls-Hitachi Air Conditioning: Deals
13.1.4 Mitsubishi Electric Corporation
Table 387 Mitsubishi Electric Corporation: Company Overview
Figure 51 Mitsubishi Electric Corporation: Company Snapshot
Table 388 Mitsubishi Electric Corporation: Products/Solutions/Services Offered
Table 389 Mitsubishi Electric Corporation: Deals
13.1.5 Trane Technologies PLC
Table 390 Trane Technologies PLC: Company Overview
Figure 52 Trane Technologies PLC: Company Snapshot
Table 391 Trane Technologies PLC: Products/Solutions/Services Offered
13.1.6 Fujitsu General
Table 392 Fujitsu General: Company Overview
Figure 53 Fujitsu General: Company Snapshot
Table 393 Fujitsu General: Products/Solutions/Services Offered
Table 394 Fujitsu General: Deals
Table 395 Fujitsu General: Others
13.1.7 Haier Inc.
Table 396 Haier Inc.: Company Overview
Figure 54 Haier Inc.: Company Snapshot
Table 397 Haier Inc.: Products/Solutions/Services Offered
13.1.8 Carrier
Table 398 Carrier: Company Overview
Figure 55 Carrier: Company Snapshot
Table 399 Carrier: Products/Solutions/Services Offered
Table 400 Carrier: Product Launches
13.1.9 Rheem Manufacturing Company
Table 401 Rheem Manufacturing Company: Company Overview
Table 402 Rheem Manufacturing Company: Products/Solutions/Services Offered
Table 403 Rheem Manufacturing Company: Deals
13.1.10 A.O. Smith
Table 404 A.O. Smith: Company Overview
Figure 56 A.O. Smith: Company Snapshot
Table 405 A.O. Smith: Products/Services/Solutions Offered
Table 406 A.O. Smith: Product Launches
13.1.11 Bosch Thermotechnology Corp.
Table 407 Bosch Thermotechnology Corp.: Company Overview
Table 408 Bosch Thermotechnology Corp.: Products/Services/Solutions Offered
Table 409 Bosch Thermotechnology Corp.: Product Launches
13.1.12 Vaillant Group
13.1.12.1 Business Overview
Table 410 Vaillant Group: Company Overview
13.1.12.2 Products/Services/Solutions Offered
Table 411 Vaillant Group: Products/Services/Solutions Offered
13.1.12.3 Recent Developments
13.1.12.3.1 Product Launches
Table 412 Vaillant Group: Product Launches
13.1.13 Midea
Table 413 Midea: Company Overview
Figure 57 Midea: Company Snapshot
Table 414 Midea: Products/Services/Solutions Offered
13.1.14 Daikin Industries, Ltd.
Table 415 Daikin Industries, Ltd.: Company Overview
Figure 58 Daikin Industries, Ltd.: Company Snapshot
Table 416 Daikin Industries, Ltd.: Products/Services/Solutions Offered
Table 417 Daikin Industries, Ltd.: Product Launches
Table 418 Daikin Industries, Ltd.: Others
13.1.15 Viessmann Group
Table 419 Viessmann Group: Company Overview
Table 420 Viessmann Group: Products/Services/Solutions Offered
Table 421 Viessmann Group: Product Launches
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies
13.2 Other Players
13.2.1 Stiebel Eltron GmbH & Co. KG (De)
Table 422 Stiebel Eltron GmbH & Co. KG (De): Company Overview
13.2.2 Glen Dimplex Group
Table 423 Glen Dimplex Group: Company Overview
13.2.3 Nibe Energy Systems
Table 424 Nibe Energy Systems: Company Overview
13.2.4 Gree Electric Appliances, Inc. of Zhuhai
Table 425 Gree Electric Appliances, Inc. of Zhuhai: Company Overview
13.2.5 Emerson Electric Co.
Table 426 Emerson Electric Co.: Company Overview
13.2.6 Guangzhou Canova Heating & Refrigeration Equipment Co. Ltd.
Table 427 Guangzhou Canova Heating & Refrigeration Equipment Co. Ltd.: Company Overview
13.2.7 Ariston Holding N.V.
Table 428 Ariston Holding N.V.: Company Overview
13.2.8 Evo Energy Technologies
Table 429 Evo Energy Technologies: Company Overview
13.2.9 Namma Swadeshi
Table 430 Namma Swadeshi: Company Overview
13.2.10 Eco Tech Solutions
Table 431 Eco Tech Solutions: Company Overview
14 Appendix
14.1 Insights from Industry Experts
14.2 Discussion Guide
14.3 Knowledgestore: The Subscription Portal
14.4 Customization Options

Companies Mentioned

  • Panasonic Corporation
  • LG Electronics
  • Johnson Controls-Hitachi Air Conditioning
  • Mitsubishi Electric Corporation
  • Trane Technologies PLC
  • Fujitsu General
  • Haier Inc.
  • Carrier
  • Rheem Manufacturing Company
  • A.O. Smith
  • Bosch Thermotechnology Corp.
  • Vaillant Group
  • Midea
  • Daikin Industries, Ltd.
  • Viessmann Group
  • Stiebel Eltron GmbH & Co. KG (DE)
  • Glen Dimplex Group
  • Nibe Energy Systems
  • Gree Electric Appliances, Inc. of Zhuhai
  • Emerson Electric Co.
  • Guangzhou Canova Heating & Refrigeration Equipment Co. Ltd.
  • Ariston Holding N.V.
  • Evo Energy Technologies
  • Namma Swadeshi
  • Eco Tech Solutions

Methodology

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Table Information

Report AttributeDetails
No. of Pages318
PublishedJanuary 2024
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 5.2 Billion
Forecasted Market Value ( USD ) by 2028 $ 10.2 Billion
Compound Annual Growth Rate14.4%
Regions CoveredGlobal
No. of Companies Mentioned25

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About the Market

The Heat Pump Water Heater (HPWH) market is a subset of the HVAC (Heating, Ventilation, and Air Conditioning) industry. HPWHs are energy-efficient appliances that use electricity to transfer heat from one place to another, rather than generating heat directly. This makes them an attractive option for homeowners looking to reduce their energy bills. HPWHs are also more environmentally friendly than traditional water heaters, as they use less energy and produce fewer emissions. HPWHs are available in a variety of sizes and configurations, and can be used in both residential and commercial applications. They are typically more expensive than traditional water heaters, but the long-term savings in energy costs can make them a worthwhile investment. Some of the major players in the HPWH market include A.O. Smith, Rheem, Bosch, and Bradford White. These companies offer a wide range of products, from small, residential units to large, commercial-grade systems. Other companies, such as GE, Carrier, and Trane, also offer HPWHs as part of their HVAC product lines. Show Less Read more

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