North America Heat Pump Market - Industry Trends and Forecast to 2030
North America heat pump market is projected to register a CAGR of 8.9% in the forecast period of 2023 to 2030. The new market report contains data for the historic year 2021, the base year of calculation is 2022, and the forecast period is 2023 to 2030
Market Segmentation
North America Heat Pump Market, By Type (Air-To-Water Heat Pump, Air-To-Air Heat Pump, Water Source Heat Pump, Ground Source Heat Pump, and Hybrid Heat Pump), Component (Hardware, and Services), Capacity (Up to 10 kW, 10 to 20 kW, 20 to 30 kW, and Above 30 kW), Power Source (Electric, and Others), Refrigerant Type (R410A, R134A, R717 (Ammonia), R407C, R600 and R600A, R744, and Others), Cycle Type (Vapor Compression, Transcritical, and Absorption), System Type (Air Source Heat Pumps, Geothermal Heat Pumps, and Others), Application (Residential, Commercial, Industrial), Country (U.S., Canada, and Mexico), Industry Trends and Forecast to 2030
Some of the major factors contributing to the growth of the North America heat pump market are:
• Rise in demand for heat pumps in commercial and industrial use
• Increase in demand for geothermal heat pumps
• Growing initiatives to minimize the carbon footprint
Market Players
Some of the major players operating in the North America heat pump market are:
• Danfoss Industries Pvt. Ltd.
• Trane Technologies plc
• NIBE Industrier AB
• Midea Group
• VIVRECO group
• Robert Bosch GmbH
• American Standard Heating and Air Conditioning (Brand of Trane Technologies plc)
• Lennox International Inc.
• Rheem Manufacturing Company
• Goodman (A Brand of Daikin Comfort Technologies North America, Inc.)
• Thermax Limited.
• Mitsubishi Electric Corporation
• DAIKIN INDUSTRIES, Ltd.
• Carrier.
• Johnson Controls
• RUUD (Brand of Rheem Manufacturing Company)
• BRYANT (Brand of Carrier.)
- 1 Introduction
- 1.1 Objectives Of The Study
- 1.2 Market Definition
- 1.3 Overview Of North America Heat Pump Market
- 1.4 Currency And Pricing
- 1.5 Limitations
- 1.6 Markets Covered
- 2 Market Segmentation
- 2.1 Markets Covered
- 2.2 Geographical Scope
- 2.3 Years Considered For The Study
- 2.4 Dbmr Tripod Data Validation Model
- 2.5 Primary Interviews With Key Opinion Leaders
- 2.6 Dbmr Market Position Grid
- 2.7 Vendor Share Analysis
- 2.8 Multivariate Modeling
- 2.9 Type Timeline Curve
- 2.10 Market End-user Coverage Grid
- 2.11 Secondary Sources
- 2.12 Assumptions
- 3 Executive Summary
- 4 Premium Insights
- 4.1 Air-to-water Heat Pump Will Replace Furnace In North America
- 4.1.1 Government Policies
- 4.1.1.1 U.S.
- 4.1.1.2 Canada
- 4.2 European Method Of Air To Water (Using A Radiator) For The North America Heat Pump Market
- 4.2.1 Air-source Heat Pumps Advanced Technologies
- 4.3 Heat Pump Vs Furnace
- 4.4 Porter’s Five Forces
- 5 Market Overview
- 5.1 Drivers
- 5.1.1 Rise In Demand For Heating, Ventilation, And Air-conditioning (Hvac) Systems
- 5.1.2 Grow In Demand For Dual Source Heat Pumps (Dshp) Across The U.S
- 5.1.3 Upsurge In Demand For Geothermal Heat Pumps
- 5.2 Restraints
- 5.2.1 High Installation Cost Of Energy-efficiency Heat Pumps
- 5.2.2 Lack Of Awareness Regarding The Benefits Of Heat-pumps In Developed Countries
- 5.3 Opportunities
- 5.3.1 Shift In Consumer Preference Toward The Sustainable Solution For Residential And Commercial Use
- 5.3.2 Increasing Investment In Green Building Infrastructure And Technical Advancement
- 5.4 Challenge
- 5.4.1 Complexities In Heat Pumps Retrofits
- 6 North America Heat Pump Market, By Type
- 6.1 Overview
- 6.2 Air-to-water Heat Pump
- 6.3 Air-to-air Heat Pump
- 6.4 Water Source Heat Pump
- 6.5 Ground Source Heat Pump
- 6.6 Hybrid Heat Pump
- 7 North America Heat Pump Market, By Component
- 7.1 Overview
- 7.2 Hardware
- 7.2.1 Compressor
- 7.2.2 Heat Exchangers
- 7.2.3 Sensors
- 7.2.4 Receiver
- 7.2.5 Reversing Valve
- 7.2.6 Others
- 7.3 Services
- 7.3.1 Installation Cost
- 7.3.1.1 New
- 7.3.1.2 Retrofit
- 7.3.2 Maintenance Cost
- 8 North America Heat Pump Market, By Capacity
- 8.1 Overview
- 8.2 Up To 10 Kw
- 8.3 10 To 20 Kw
- 8.4 20 To 30 Kw
- 8.5 Above 30 Kw
- 9 North America Heat Pump Market, By Power Source
- 9.1 Overview
- 9.2 Electric
- 9.3 Others
- 10 North America Heat Pump Market, By Refrigerant Type
- 10.1 Overview
- 10.2 R410a
- 10.3 R134a
- 10.4 R717 (Ammonia)
- 10.5 R407c
- 10.6 R600 And R600a
- 10.7 R744
- 10.8 Others
- 11 North America Heat Pump Market, By Cycle Type
- 11.1 Overview
- 11.2 Vapor Compression
- 11.3 Transcritical
- 11.4 Absorption
- 12 North America Heat Pump Market, By System Type
- 12.1 Overview
- 12.2 Air Source Heat Pumps
- 12.2.1 Ducted Split And Packaged Type
- 12.2.2 Ductless Minisplit
- 12.2.3 Portable Window
- 12.3 Geothermal Heat Pumps
- 12.3.1 Horizontal
- 12.3.2 Vertical
- 12.4 Others
- 13 North America Heat Pump Market, By Application
- 13.1 Overview
- 13.2 Residential
- 13.2.1 Single Home
- 13.2.2 Multi Home
- 13.3 Commercial
- 13.3.1 Offices
- 13.3.2 Hospitality
- 13.3.3 Healthcare
- 13.3.4 Retail
- 13.3.5 Logistics & Transportation
- 13.3.6 Education
- 13.3.7 Others
- 13.4 Industrial
- 13.4.1 General Manufacturing
- 13.4.2 Chemical And Petroleum
- 13.4.3 Food And Beverages
- 13.4.4 Utilities
- 13.4.5 Textile And Leather
- 13.4.6 Wood Products
- 13.4.7 Metal
- 13.4.8 Others
- 14 North America Heat Pump Market, By Country
- 14.1 U.S.
- 14.2 Canada
- 14.3 Mexico
- 15 Company Landscape: North America Heat Pump Market
- 15.1 Company Share Analysis: North America
- 16 Swot Analysis
- 17 Company Profiles
- 17.1 Trane Technologies Plc
- 17.1.1 Company Snapshot
- 17.1.2 Revenue Analysis
- 17.1.3 Products Portfolio
- 17.1.4 Recent Development
- 17.2 Johnson Controls
- 17.2.1 Company Snapshot
- 17.2.2 Revenue Analysis
- 17.2.3 Product Portfolio
- 17.2.4 Recent Development
- 17.3 Carrier
- 17.3.1 Company Snapshot
- 17.3.2 Revenue Analysis
- 17.3.3 Product Portfolio
- 17.3.4 Recent Developments
- 17.4 Midea Group
- 17.4.1 Company Snapshot
- 17.4.2 Revenue Analysis
- 17.4.3 Products Portfolio
- 17.4.4 Recent Developments
- 17.5 Lennox International Inc.
- 17.5.1 Company Snapshot
- 17.5.2 Revenue Analysis
- 17.5.3 Product Portfolio
- 17.5.4 Recent Development
- 17.6 American Standard Heating And Air Conditioning
- 17.6.1 Company Snapshot
- 17.6.2 Product Portfolio
- 17.6.3 Recent Development
- 17.7 Bryant (Brand Of Carrier)
- 17.7.1 Company Snapshot
- 17.7.2 Product Portfolio
- 17.7.3 Recent Development
- 17.8 Daikin Industries, Ltd.
- 17.8.1 Company Snapshot
- 17.8.2 Revenue Analysis
- 17.8.3 Product Portfolio
- 17.8.4 Recent Developments
- 17.9 Danfoss Industries Pvt. Ltd.
- 17.9.1 Company Snapshot
- 17.9.2 Revenue Analysis
- 17.9.3 Products Portfolio
- 17.9.4 Recent Developments
- 17.10 Goodman (Brand Of Daikin Industries, Ltd.)
- 17.10.1 Company Snapshot
- 17.10.2 Product Portfolio
- 17.10.3 Recent Development
- 17.11 Mitsubishi Electric Corporation
- 17.11.1 Company Snapshot
- 17.11.2 Revenue Analysis
- 17.11.3 Product Portfolio
- 17.11.4 Recent Developments
- 17.12 Nibe Industrier Ab
- 17.12.1 Company Snapshot
- 17.12.2 Revenue Analysis
- 17.12.3 Products Portfolio
- 17.12.4 Recent Development
- 17.13 Rheem Manufacturing Company
- 17.13.1 Company Snapshot
- 17.13.2 Product Portfolio
- 17.13.3 Recent Development
- 17.14 Robert Bosch Gmbh
- 17.14.1 Company Snapshot
- 17.14.2 Revenue Analysis
- 17.14.3 Product Portfolio
- 17.14.4 Recent Development
- 17.15 Ruud (Brand Of Rheem Manufacturing Company)
- 17.15.1 Company Snapshot
- 17.15.2 Product Portfolio
- 17.15.3 Recent Development
- 17.16 Thermax Limited.
- 17.16.1 Company Snapshot
- 17.16.2 Revenue Analysis
- 17.16.3 Product Portfolio
- 17.16.4 Recent Developments
- 17.17 Vivreco Group
- 17.17.1 Company Snapshot
- 17.17.2 Product Portfolio
- 17.17.3 Recent Development
- 18 Questionnaire
- 19 Related Reports 132
- List Of Tables
- Table 1 Price Of Heat Pump Based On Type, Capacity, And Efficiency Rating
- Table 2 North America Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 3 North America Heat Pump Market, By Component, 2021-2030 (Usd Million)
- Table 4 North America Hardware In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 5 North America Services In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 6 North America Installation Cost In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 7 North America Heat Pump Market, By Capacity, 2021-2030 (Usd Million)
- Table 8 North America Heat Pump Market, By Power Source, 2021-2030 (Usd Million)
- Table 9 North America Heat Pump Market, By Refrigerant Type, 2021-2030 (Usd Million)
- Table 10 North America Heat Pump Market, By Cycle Type, 2021-2030 (Usd Million)
- Table 11 North America Heat Pump Market, By System Type, 2021-2030 (Usd Million)
- Table 12 North America Air Source Heat Pumps In Heat Pump Market, By Category, 2021-2030 (Usd Million)
- Table 13 North America Geothermal Heat Pumps In Heat Pump Market, By Loop, 2021-2030 (Usd Million)
- Table 14 North America Heat Pump Market, By Application, 2021-2030 (Usd Million)
- Table 15 North America Residential In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 16 North America Commercial In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 17 North America Industrial In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 18 North America Heat Pump Market, By Country, 2021-2030 (Usd Million)
- Table 19 U.S. Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 20 U.S. Heat Pump Market, By Component, 2021-2030 (Usd Million)
- Table 21 U.S. Hardware In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 22 U.S. Services In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 23 U.S. Installation Cost In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 24 U.S. Heat Pump Market, By Capacity, 2021-2030 (Usd Million)
- Table 25 U.S. Heat Pump Market, By Power Source, 2021-2030 (Usd Million)
- Table 26 U.S. Heat Pump Market, By Refrigerant Type, 2021-2030 (Usd Million)
- Table 27 U.S. Heat Pump Market, By Cycle Type, 2021-2030 (Usd Million)
- Table 28 U.S. Heat Pump Market, By System Type, 2021-2030 (Usd Million)
- Table 29 U.S. Air Source Heat Pumps In Heat Pump Market, By Category, 2021-2030 (Usd Million)
- Table 30 U.S. Geothermal Heat Pumps In Heat Pump Market, By Loop, 2021-2030 (Usd Million)
- Table 31 U.S. Heat Pump Market, By Application, 2021-2030 (Usd Million)
- Table 32 U.S. Residential In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 33 U.S. Commercial In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 34 U.S. Industrial In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 35 Canada Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 36 Canada Heat Pump Market, By Component, 2021-2030 (Usd Million)
- Table 37 Canada Hardware In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 38 Canada Services In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 39 Canada Installation Cost In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 40 Canada Heat Pump Market, By Capacity, 2021-2030 (Usd Million)
- Table 41 Canada Heat Pump Market, By Power Source, 2021-2030 (Usd Million)
- Table 42 Canada Heat Pump Market, By Refrigerant Type, 2021-2030 (Usd Million)
- Table 43 Canada Heat Pump Market, By Cycle Type, 2021-2030 (Usd Million)
- Table 44 Canada Heat Pump Market, By System Type, 2021-2030 (Usd Million)
- Table 45 Canada Air Source Heat Pumps In Heat Pump Market, By Category, 2021-2030 (Usd Million)
- Table 46 Canada Geothermal Heat Pumps In Heat Pump Market, By Loop, 2021-2030 (Usd Million)
- Table 47 Canada Heat Pump Market, By Application, 2021-2030 (Usd Million)
- Table 48 Canada Residential In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 49 Canada Commercial In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 50 Canada Industrial In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 51 Mexico Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 52 Mexico Heat Pump Market, By Component, 2021-2030 (Usd Million)
- Table 53 Mexico Hardware In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 54 Mexico Services In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 55 Mexico Installation Cost In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 56 Mexico Heat Pump Market, By Capacity, 2021-2030 (Usd Million)
- Table 57 Mexico Heat Pump Market, By Power Source, 2021-2030 (Usd Million)
- Table 58 Mexico Heat Pump Market, By Refrigerant Type, 2021-2030 (Usd Million)
- Table 59 Mexico Heat Pump Market, By Cycle Type, 2021-2030 (Usd Million)
- Table 60 Mexico Heat Pump Market, By System Type, 2021-2030 (Usd Million)
- Table 61 Mexico Air Source Heat Pumps In Heat Pump Market, By Category, 2021-2030 (Usd Million)
- Table 62 Mexico Geothermal Heat Pumps In Heat Pump Market, By Loop, 2021-2030 (Usd Million)
- Table 63 Mexico Heat Pump Market, By Application, 2021-2030 (Usd Million)
- Table 64 Mexico Residential In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 65 Mexico Commercial In Heat Pump Market, By Type, 2021-2030 (Usd Million)
- Table 66 Mexico Industrial In Heat Pump Market, By Type, 2021-2030 (Usd Million) 97
- List Of Figures
- Figure 1 North America Heat Pump Market: Segmentation
- Figure 2 North America Heat Pump Market: Data Triangulation
- Figure 3 North America Heat Pump Market: Droc Analysis
- Figure 4 North America Heat Pump Market: Regional Vs Country Market Analysis
- Figure 5 North America Heat Pump Market: Company Research Analysis
- Figure 6 North America Heat Pump Market: Interview Demographics
- Figure 7 North America Heat Pump Market: Dbmr Market Position Grid
- Figure 8 North America Heat Pump Market: Vendor Share Analysis
- Figure 9 North America Heat Pump Market: Market Application Coverage Grid
- Figure 10 North America Heat Pump Market: Segmentation
- Figure 11 Upsurge In Demand For Geothermal Heat Pumps Is Expected To Drive The North America Heat Pump Market In The Forecast Period Of 2023 To 2030
- Figure 12 Air-to-water Heat Pump Component Segment Is Expected To Account For The Largest Share Of The North America Heat Pump Market In 2023 & 2030
- Figure 13 Porter’s Five Forces
- Figure 14 Drivers, Restraints, Opportunities, And Challenge Of The North America Heat Pump Market
- Figure 15 North America Heat Pump Market: By Type, 2022
- Figure 16 North America Heat Pump Market: By Component, 2022
- Figure 17 North America Heat Pump Market: By Capacity, 2022
- Figure 18 North America Heat Pump Market: By Power Source, 2022
- Figure 19 North America Heat Pump Market: By Refrigerant Type,2022
- Figure 20 North America Heat Pump Market: By Cycle Type, 2022
- Figure 21 North America Heat Pump Market: By System Type, 2022
- Figure 22 North America Heat Pump Market: By Application, 2022
- Figure 23 North America Heat Pump Market: Snapshot (2022)
- Figure 24 North America Heat Pump Market: By Country (2022)
- Figure 25 North America Heat Pump Market: By Country (2023 & 2030)
- Figure 26 North America Heat Pump Market: By Country (2022 & 2030)
- Figure 27 North America Heat Pump Market: By Type (2023-2030)
- Figure 28 North America Heat Pump Market: Company Share 2022 (%) 98
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