Dublin, Dec. 08, 2023 (GLOBE NEWSWIRE) — The “Heat Pumps – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Heat Pumps Market to Reach $142.4 Billion by 2030
The global market for Heat Pumps estimated at US$64.8 Billion in the year 2022, is projected to reach a revised size of US$142.4 Billion by 2030, growing at a CAGR of 10.3% over the analysis period 2022-2030. Air Source, one of the segments analyzed in the report, is projected to record 9.9% CAGR and reach US$108.7 Billion by the end of the analysis period. Growth in the Ground Source (geothermal) segment is estimated at 12% CAGR for the next 8-year period.
Heat pumps are highlighted as energy-efficient solutions for both cooling and heating needs. The report classifies heat pumps and emphasizes their compelling merits, such as energy efficiency and eco-friendliness. Various applications of heat pumps across different sectors are also discussed.
In terms of the competitive landscape, the report provides insights into the global key competitors in the heat pumps market and their market share. It also assesses the competitive market presence of these players. The global market prospects and outlook for heat pumps indicate significant growth, with a focus on segments like air-to-air and residential sectors. Water source heat pumps (WSHPs) are also gaining higher adoption.
The report underscores the global opportunities for heat pumps and their increasing installations across regions. Europe and the Asia-Pacific region are identified as active markets for heat pumps. Overall, the report offers a comprehensive overview of the heat pumps market, its competitive landscape, and its growth potential in different regions. It provides valuable insights for industry stakeholders and businesses operating in this sector.
The U.S. Market is Estimated at $14.2 Billion, While China is Forecast to Grow at 10.9% CAGR
The Heat Pumps market in the U.S. is estimated at US$14.2 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$35.4 Billion by the year 2030 trailing a CAGR of 10.9% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.5% and 10.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.5% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 540 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $64.8 Billion |
| Forecasted Market Value (USD) by 2030 | $142.4 Billion |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Governments’ Focus & Emphasis on Energy Efficient Buildings Bodes Well for Market Growth
- Heat Pumps Experiencing Steep Demand amid Rising Energy Demand for Heating
- Global Heating Technology Market: Breakdown of Sales (in %) in the Sustainable Development Scenario (SDS) for 2010, 2020 and 2030
- Global Investments in Energy Efficiency (In US$ Billion) by Region for the Years 2016 and 2019
- Global Investments in Energy Efficiency (In US$ Billion) by Industry for the Years 2016 and 2019
- Manufacturers Places More Investments in Heat Pumps
- 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) for Years 1930, 1940, 1950, 1960, 1970, 1980, 1990, 2000, 2010, 2020, 2021 and 2022
- 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
- Global Demand for Heat by Sector (in %) for 2020
- Surge in Urban Population to Drive Need for Heat Pumps
- World Urban Population in Thousands: 1950-2050P
FOCUS ON SELECT PLAYERS(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
For more information about this report visit https://www.researchandmarkets.com/r/8nqn6o
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