Heat Pumps Market
Heat Pumps Market Size and Growth
The Heat Pumps Market was valued at approximately USD 60 billion in 2023 and is projected to reach around USD 110 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.5% during the forecast period. This growth is driven by increasing demand for energy-efficient heating solutions, the global push for reducing carbon emissions, and rising government incentives for adopting renewable energy systems.
Companies Covered : (Covid-19 Impact Covered)
o Daikin
o Mitsubishi
o Atlantic
o NIBE Industrier
o Hitachi
o Bosch
o Panasonic
o Aermec
o STIEBEL ELTRON
o CIAT
o Fujitsu
o Vaillant
o Danfoss Group
o Carrier
o Rheem
o Johnson Controls
o Calorex
The global heat pumps market report includes a comprehensive analysis of the impact of COVID-19 on key companies such as Daikin Industries Ltd., Mitsubishi Electric Corporation, Carrier Corporation, NIBE Group, and Trane Technologies. The pandemic initially disrupted supply chains and caused a slowdown in construction projects, affecting market growth. However, post-pandemic recovery has been driven by increasing demand for energy-efficient heating solutions.
Heat Pumps Market Segmentation
By Application
✓ Residential Heat Pumps
✓ Industrial Heat Pumps
✓ Commercial Heat Pumps
By Product
• Air to Water Monobloc
• Air to Water Cylinder
• Ground/Water to Water
• Air to Water Split
• Exhaust Air
Market Size (USD)
$ X Billion USD
