Scroll Heat Pump Compressors Market Size - By Application (Air Source Ground Source, Water Source), COVID-19 Impact Analysis & Forecast, 2023 - 2032

Scroll Heat Pump Compressors Market Size - By Application (Air Source Ground Source, Water Source), COVID-19 Impact Analysis & Forecast, 2023 - 2032

Global Scroll Heat Pump Compressors Market size will grow significantly through 2032. Integration of progressive technologies in scroll heat pump compressors is paving the way for industry growth. Scroll compressors have undergone advancements in noise reduction techniques. These include improved motor mounts, vibration isolation, and enhanced sound insulation materials. These measures help reduce operational noise levels, resulting in quieter operation and improved comfort for building occupants, thus, favoring product demand.

Moreover, advancements in materials and compressor design have improved the reliability and durability of scroll compressors. The use of advanced materials, such as improved coatings and lubricants, helps reduce wear and tear, ensuring longer compressor life and better performance. Additionally, enhanced motor designs contribute to increased efficiency and reduced energy consumption, fostering market growth.

The overall scroll heat pump compressors market is bifurcated based on application and region.

Based on application, the scroll heat pump compressors market revenue from the water source segment will grow significantly between 2023 and 2032. Water source heat pumps are known for their long lifespan and durability. The major components of WSHP systems, such as the heat exchanger and compressor, are designed to withstand continuous operation and have longer lifespans compared to conventional HVAC systems. With proper maintenance and regular servicing, WSHPs can provide reliable heating and cooling for many years, resulting in increased product uptake.

From the regional perspective, the North America scroll heat pump compressors industry accumulated a decent market share in 2022 and is expected to witness commendable growth between 2023 and 2032. Increasing demand for energy-efficient heating and cooling solutions has augmented product sales in the region. Governments across several regional economies have been escalating their R&D efforts and making significant investments into these systems to accelerate the transition towards a clean economy. In November 2022, the U.S. government unveiled an investment of more than USD 250 million to fund energy-efficiency upgrades for American businesses and families.

Furthermore, North America is home to many leading industry contenders such as Emerson Electric Co., and others focusing on mergers and acquisition strategies to boost their industry presence. Citing an instance, in April 2023, Emerson Electric Co., an American multinational corporation, signed a definitive agreement to acquire NI, a leading provider of software-connected automated test and measurement systems. With this deal, the company will strengthen its automation capabilities while boosting its customer base.