Global Air Source Heat Pump Market 2024-2028
The air source heat pump market is forecasted to grow by USD 50,804.76 mn during 2023-2028, accelerating at a CAGR of 11.41% during the forecast period. The report on the air source heat pump market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing environmental concerns, rising energy costs and focus on energy-efficient technologies, and government incentives such as subsidies, tax credits, and rebates.
Technavio's air source heat pump market is segmented as below:
By Product
By Application
- Residential
- Industrial
- Commercial
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the integration of smart technology and Internet of Things (IoT) features into air source heat pump systems as one of the prime reasons driving the air source heat pump market growth during the next few years. Also, shift toward electrified heating solutions and growing interest in hybrid heat pump systems will lead to sizable demand in the market.
The report on the air source heat pump market covers the following areas:
- Air source heat pump market sizing
- Air source heat pump market forecast
- Air source heat pump market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading air source heat pump market vendors that include A. O. Smith India Water Products Pvt. Ltd., Alibaba Group Holding Ltd., Ariston Holding NV, BDR Thermea Group, Carrier Global Corp., Colmac Industries Inc., Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Fujitsu General Ltd., Glen Dimplex Europe Holdings Ltd., Grant Engineering UK Ltd., Groupe Airwell, Haier Smart Home Co. Ltd., Hitachi Ltd., Ingersoll Rand Inc., Jaquar Group, Mitsubishi Electric Corp., NIBE Industrier AB, and Robert Bosch GmbH. Also, the air source heat pump market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.