Heat Pump Water Heaters Industry Research Report 2025

Summary

Heat Pump Water Heaters is a device which uses electricity to move heat from one place to another instead of generating heat directly. Therefore, it can be two to three times more energy efficient than conventional electric resistance water heaters. To move the heat, heat pumps work like a refrigerator in reverse.

According to APO Research, The global Heat Pump Water Heaters market was valued at US$ million in 2024 and is anticipated to reach US$ million by 2031, witnessing a CAGR of xx% during the forecast period 2025-2031.

North American market for Heat Pump Water Heaters is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2026 through 2031.

Asia-Pacific market for Heat Pump Water Heaters is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

Europe market for Heat Pump Water Heaters is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

The major global manufacturers of Heat Pump Water Heaters include , etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.

Report Scope

This report aims to provide a comprehensive presentation of the global market for Heat Pump Water Heaters, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Heat Pump Water Heaters.

The report will help the Heat Pump Water Heaters manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

The Heat Pump Water Heaters market size, estimations, and forecasts are provided in terms of sales volume (K Units) and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Heat Pump Water Heaters market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

Key Companies & Market Share Insights

In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2020-2025. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.

Heat Pump Water Heaters Segment by Company

Panasonic
Mitsubishi Electric
GE Appliances
GREE
Midea
Darkin
A. O. Smith
Hitachi
Jandy
Wotech
Zhejiang Zhongguang
Pentair
New Energy
Dimplex
Hayward
Viessmann
Toshiba
Alpha-Innotec
Tongyi
Zhongrui
Thermia
Itomic
Rheem
Hangzhou Jinjiang Solar
Ochsner
Stiebel-Eltron

Heat Pump Water Heaters Segment by Type

Air Source Heat Pump
Water Source Heat Pump
Ground Source Heat Pump

Heat Pump Water Heaters Segment by Application

Residential Use
Commercial & Industrial Use

Heat Pump Water Heaters Segment by Region

North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries

Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

Reasons to Buy This Report

1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Heat Pump Water Heaters market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Heat Pump Water Heaters and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Heat Pump Water Heaters.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Detailed analysis of Heat Pump Water Heaters manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Heat Pump Water Heaters by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Heat Pump Water Heaters in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.

Please Note: Single-User license will be delivered via PDF from the publisher without the rights to print or to edit.


1 Preface
1.1 Scope of Report
1.2 Reasons for Doing This Study
1.3 Research Methodology
1.4 Research Process
1.5 Data Source
1.5.1 Secondary Sources
1.5.2 Primary Sources
2 Market Overview
2.1 Product Definition
2.2 Heat Pump Water Heaters by Type
2.2.1 Market Value Comparison by Type (2020 VS 2024 VS 2031) & (US$ Million)
2.2.2 Air Source Heat Pump
2.2.3 Water Source Heat Pump
2.2.4 Ground Source Heat Pump
2.3 Heat Pump Water Heaters by Application
2.3.1 Market Value Comparison by Application (2020 VS 2024 VS 2031) & (US$ Million)
2.3.2 Residential Use
2.3.3 Commercial & Industrial Use
2.4 Global Market Growth Prospects
2.4.1 Global Heat Pump Water Heaters Production Value Estimates and Forecasts (2020-2031)
2.4.2 Global Heat Pump Water Heaters Production Capacity Estimates and Forecasts (2020-2031)
2.4.3 Global Heat Pump Water Heaters Production Estimates and Forecasts (2020-2031)
2.4.4 Global Heat Pump Water Heaters Market Average Price (2020-2031)
3 Market Competitive Landscape by Manufacturers
3.1 Global Heat Pump Water Heaters Production by Manufacturers (2020-2025)
3.2 Global Heat Pump Water Heaters Production Value by Manufacturers (2020-2025)
3.3 Global Heat Pump Water Heaters Average Price by Manufacturers (2020-2025)
3.4 Global Heat Pump Water Heaters Industry Manufacturers Ranking, 2023 VS 2024 VS 2025
3.5 Global Heat Pump Water Heaters Key Manufacturers, Manufacturing Sites & Headquarters
3.6 Global Heat Pump Water Heaters Manufacturers, Product Type & Application
3.7 Global Heat Pump Water Heaters Manufacturers Established Date
3.8 Global Heat Pump Water Heaters Market CR5 and HHI
3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
4.1 Panasonic
4.1.1 Panasonic Heat Pump Water Heaters Company Information
4.1.2 Panasonic Heat Pump Water Heaters Business Overview
4.1.3 Panasonic Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.1.4 Panasonic Product Portfolio
4.1.5 Panasonic Recent Developments
4.2 Mitsubishi Electric
4.2.1 Mitsubishi Electric Heat Pump Water Heaters Company Information
4.2.2 Mitsubishi Electric Heat Pump Water Heaters Business Overview
4.2.3 Mitsubishi Electric Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.2.4 Mitsubishi Electric Product Portfolio
4.2.5 Mitsubishi Electric Recent Developments
4.3 GE Appliances
4.3.1 GE Appliances Heat Pump Water Heaters Company Information
4.3.2 GE Appliances Heat Pump Water Heaters Business Overview
4.3.3 GE Appliances Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.3.4 GE Appliances Product Portfolio
4.3.5 GE Appliances Recent Developments
4.4 GREE
4.4.1 GREE Heat Pump Water Heaters Company Information
4.4.2 GREE Heat Pump Water Heaters Business Overview
4.4.3 GREE Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.4.4 GREE Product Portfolio
4.4.5 GREE Recent Developments
4.5 Midea
4.5.1 Midea Heat Pump Water Heaters Company Information
4.5.2 Midea Heat Pump Water Heaters Business Overview
4.5.3 Midea Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.5.4 Midea Product Portfolio
4.5.5 Midea Recent Developments
4.6 Darkin
4.6.1 Darkin Heat Pump Water Heaters Company Information
4.6.2 Darkin Heat Pump Water Heaters Business Overview
4.6.3 Darkin Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.6.4 Darkin Product Portfolio
4.6.5 Darkin Recent Developments
4.7 A. O. Smith
4.7.1 A. O. Smith Heat Pump Water Heaters Company Information
4.7.2 A. O. Smith Heat Pump Water Heaters Business Overview
4.7.3 A. O. Smith Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.7.4 A. O. Smith Product Portfolio
4.7.5 A. O. Smith Recent Developments
4.8 Hitachi
4.8.1 Hitachi Heat Pump Water Heaters Company Information
4.8.2 Hitachi Heat Pump Water Heaters Business Overview
4.8.3 Hitachi Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.8.4 Hitachi Product Portfolio
4.8.5 Hitachi Recent Developments
4.9 Jandy
4.9.1 Jandy Heat Pump Water Heaters Company Information
4.9.2 Jandy Heat Pump Water Heaters Business Overview
4.9.3 Jandy Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.9.4 Jandy Product Portfolio
4.9.5 Jandy Recent Developments
4.10 Wotech
4.10.1 Wotech Heat Pump Water Heaters Company Information
4.10.2 Wotech Heat Pump Water Heaters Business Overview
4.10.3 Wotech Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.10.4 Wotech Product Portfolio
4.10.5 Wotech Recent Developments
4.11 Zhejiang Zhongguang
4.11.1 Zhejiang Zhongguang Heat Pump Water Heaters Company Information
4.11.2 Zhejiang Zhongguang Heat Pump Water Heaters Business Overview
4.11.3 Zhejiang Zhongguang Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.11.4 Zhejiang Zhongguang Product Portfolio
4.11.5 Zhejiang Zhongguang Recent Developments
4.12 Pentair
4.12.1 Pentair Heat Pump Water Heaters Company Information
4.12.2 Pentair Heat Pump Water Heaters Business Overview
4.12.3 Pentair Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.12.4 Pentair Product Portfolio
4.12.5 Pentair Recent Developments
4.13 New Energy
4.13.1 New Energy Heat Pump Water Heaters Company Information
4.13.2 New Energy Heat Pump Water Heaters Business Overview
4.13.3 New Energy Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.13.4 New Energy Product Portfolio
4.13.5 New Energy Recent Developments
4.14 Dimplex
4.14.1 Dimplex Heat Pump Water Heaters Company Information
4.14.2 Dimplex Heat Pump Water Heaters Business Overview
4.14.3 Dimplex Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.14.4 Dimplex Product Portfolio
4.14.5 Dimplex Recent Developments
4.15 Hayward
4.15.1 Hayward Heat Pump Water Heaters Company Information
4.15.2 Hayward Heat Pump Water Heaters Business Overview
4.15.3 Hayward Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.15.4 Hayward Product Portfolio
4.15.5 Hayward Recent Developments
4.16 Viessmann
4.16.1 Viessmann Heat Pump Water Heaters Company Information
4.16.2 Viessmann Heat Pump Water Heaters Business Overview
4.16.3 Viessmann Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.16.4 Viessmann Product Portfolio
4.16.5 Viessmann Recent Developments
4.17 Toshiba
4.17.1 Toshiba Heat Pump Water Heaters Company Information
4.17.2 Toshiba Heat Pump Water Heaters Business Overview
4.17.3 Toshiba Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.17.4 Toshiba Product Portfolio
4.17.5 Toshiba Recent Developments
4.18 Alpha-Innotec
4.18.1 Alpha-Innotec Heat Pump Water Heaters Company Information
4.18.2 Alpha-Innotec Heat Pump Water Heaters Business Overview
4.18.3 Alpha-Innotec Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.18.4 Alpha-Innotec Product Portfolio
4.18.5 Alpha-Innotec Recent Developments
4.19 Tongyi
4.19.1 Tongyi Heat Pump Water Heaters Company Information
4.19.2 Tongyi Heat Pump Water Heaters Business Overview
4.19.3 Tongyi Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.19.4 Tongyi Product Portfolio
4.19.5 Tongyi Recent Developments
4.20 Zhongrui
4.20.1 Zhongrui Heat Pump Water Heaters Company Information
4.20.2 Zhongrui Heat Pump Water Heaters Business Overview
4.20.3 Zhongrui Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.20.4 Zhongrui Product Portfolio
4.20.5 Zhongrui Recent Developments
4.21 Thermia
4.21.1 Thermia Heat Pump Water Heaters Company Information
4.21.2 Thermia Heat Pump Water Heaters Business Overview
4.21.3 Thermia Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.21.4 Thermia Product Portfolio
4.21.5 Thermia Recent Developments
4.22 Itomic
4.22.1 Itomic Heat Pump Water Heaters Company Information
4.22.2 Itomic Heat Pump Water Heaters Business Overview
4.22.3 Itomic Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.22.4 Itomic Product Portfolio
4.22.5 Itomic Recent Developments
4.23 Rheem
4.23.1 Rheem Heat Pump Water Heaters Company Information
4.23.2 Rheem Heat Pump Water Heaters Business Overview
4.23.3 Rheem Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.23.4 Rheem Product Portfolio
4.23.5 Rheem Recent Developments
4.24 Hangzhou Jinjiang Solar
4.24.1 Hangzhou Jinjiang Solar Heat Pump Water Heaters Company Information
4.24.2 Hangzhou Jinjiang Solar Heat Pump Water Heaters Business Overview
4.24.3 Hangzhou Jinjiang Solar Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.24.4 Hangzhou Jinjiang Solar Product Portfolio
4.24.5 Hangzhou Jinjiang Solar Recent Developments
4.25 Ochsner
4.25.1 Ochsner Heat Pump Water Heaters Company Information
4.25.2 Ochsner Heat Pump Water Heaters Business Overview
4.25.3 Ochsner Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.25.4 Ochsner Product Portfolio
4.25.5 Ochsner Recent Developments
4.26 Stiebel-Eltron
4.26.1 Stiebel-Eltron Heat Pump Water Heaters Company Information
4.26.2 Stiebel-Eltron Heat Pump Water Heaters Business Overview
4.26.3 Stiebel-Eltron Heat Pump Water Heaters Production, Value and Gross Margin (2020-2025)
4.26.4 Stiebel-Eltron Product Portfolio
4.26.5 Stiebel-Eltron Recent Developments
5 Global Heat Pump Water Heaters Production by Region
5.1 Global Heat Pump Water Heaters Production Estimates and Forecasts by Region: 2020 VS 2024 VS 2031
5.2 Global Heat Pump Water Heaters Production by Region: 2020-2031
5.2.1 Global Heat Pump Water Heaters Production by Region: 2020-2025
5.2.2 Global Heat Pump Water Heaters Production Forecast by Region (2026-2031)
5.3 Global Heat Pump Water Heaters Production Value Estimates and Forecasts by Region: 2020 VS 2024 VS 2031
5.4 Global Heat Pump Water Heaters Production Value by Region: 2020-2031
5.4.1 Global Heat Pump Water Heaters Production Value by Region: 2020-2025
5.4.2 Global Heat Pump Water Heaters Production Value Forecast by Region (2026-2031)
5.5 Global Heat Pump Water Heaters Market Price Analysis by Region (2020-2025)
5.6 Global Heat Pump Water Heaters Production and Value, YOY Growth
5.6.1 North America Heat Pump Water Heaters Production Value Estimates and Forecasts (2020-2031)
5.6.2 Europe Heat Pump Water Heaters Production Value Estimates and Forecasts (2020-2031)
5.6.3 China Heat Pump Water Heaters Production Value Estimates and Forecasts (2020-2031)
5.6.4 Japan Heat Pump Water Heaters Production Value Estimates and Forecasts (2020-2031)
6 Global Heat Pump Water Heaters Consumption by Region
6.1 Global Heat Pump Water Heaters Consumption Estimates and Forecasts by Region: 2020 VS 2024 VS 2031
6.2 Global Heat Pump Water Heaters Consumption by Region (2020-2031)
6.2.1 Global Heat Pump Water Heaters Consumption by Region: 2020-2025
6.2.2 Global Heat Pump Water Heaters Forecasted Consumption by Region (2026-2031)
6.3 North America
6.3.1 North America Heat Pump Water Heaters Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
6.3.2 North America Heat Pump Water Heaters Consumption by Country (2020-2031)
6.3.3 United States
6.3.4 Canada
6.3.5 Mexico
6.4 Europe
6.4.1 Europe Heat Pump Water Heaters Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
6.4.2 Europe Heat Pump Water Heaters Consumption by Country (2020-2031)
6.4.3 Germany
6.4.4 France
6.4.5 U.K.
6.4.6 Italy
6.4.7 Russia
6.4.8 Spain
6.4.9 Netherlands
6.4.10 Switzerland
6.4.11 Sweden
6.4.12 Poland
6.5 Asia Pacific
6.5.1 Asia Pacific Heat Pump Water Heaters Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
6.5.2 Asia Pacific Heat Pump Water Heaters Consumption by Country (2020-2031)
6.5.3 China
6.5.4 Japan
6.5.5 South Korea
6.5.6 India
6.5.7 Australia
6.5.8 Taiwan
6.5.9 Southeast Asia
6.6 South America, Middle East & Africa
6.6.1 South America, Middle East & Africa Heat Pump Water Heaters Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
6.6.2 South America, Middle East & Africa Heat Pump Water Heaters Consumption by Country (2020-2031)
6.6.3 Brazil
6.6.4 Argentina
6.6.5 Chile
6.6.6 Turkey
6.6.7 GCC Countries
7 Segment by Type
7.1 Global Heat Pump Water Heaters Production by Type (2020-2031)
7.1.1 Global Heat Pump Water Heaters Production by Type (2020-2031) & (K Units)
7.1.2 Global Heat Pump Water Heaters Production Market Share by Type (2020-2031)
7.2 Global Heat Pump Water Heaters Production Value by Type (2020-2031)
7.2.1 Global Heat Pump Water Heaters Production Value by Type (2020-2031) & (US$ Million)
7.2.2 Global Heat Pump Water Heaters Production Value Market Share by Type (2020-2031)
7.3 Global Heat Pump Water Heaters Price by Type (2020-2031)
8 Segment by Application
8.1 Global Heat Pump Water Heaters Production by Application (2020-2031)
8.1.1 Global Heat Pump Water Heaters Production by Application (2020-2031) & (K Units)
8.1.2 Global Heat Pump Water Heaters Production Market Share by Application (2020-2031)
8.2 Global Heat Pump Water Heaters Production Value by Application (2020-2031)
8.2.1 Global Heat Pump Water Heaters Production Value by Application (2020-2031) & (US$ Million)
8.2.2 Global Heat Pump Water Heaters Production Value Market Share by Application (2020-2031)
8.3 Global Heat Pump Water Heaters Price by Application (2020-2031)
9 Value Chain and Sales Channels Analysis of the Market
9.1 Heat Pump Water Heaters Value Chain Analysis
9.1.1 Heat Pump Water Heaters Key Raw Materials
9.1.2 Raw Materials Key Suppliers
9.1.3 Heat Pump Water Heaters Production Mode & Process
9.2 Heat Pump Water Heaters Sales Channels Analysis
9.2.1 Direct Comparison with Distribution Share
9.2.2 Heat Pump Water Heaters Distributors
9.2.3 Heat Pump Water Heaters Customers
10 Global Heat Pump Water Heaters Analyzing Market Dynamics
10.1 Heat Pump Water Heaters Industry Trends
10.2 Heat Pump Water Heaters Industry Drivers
10.3 Heat Pump Water Heaters Industry Opportunities and Challenges
10.4 Heat Pump Water Heaters Industry Restraints
11 Report Conclusion
12 Disclaimer

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