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Air Source Heat Pump Compressors Market Size
Air Source Heat Pump Compressors Market was valued at USD 12.6 billion in 2023 and set to grow at a CAGR of over 14.4% from 2024 to 2032. The rapidly shifting consumer preferences regarding efficient HVAC systems coupled with increasing demand for energy-efficient solutions will boost the industry growth.
The widespread implementation of beneficial heat pump rebates & incentive programs by relevant authorities has propelled the integration of HP units thereby complementing the business landscape. For instance, the Austrian government has implemented a subsidy program effective from January 2023 to December 2024, aimed at encouraging the use of heat pumps covering up to 20% of the total cost for new installations and up to 35% for retrofits, with a maximum grant limit of USD 5,000.
What factors are pushing the growth of Asia Pacific air source heat pump compressor industry?
Asia Pacific air source heat pump compressor industry projected to cross USD 14 billion by 2032, driven by the rapid rate of industrialization coupled with mounting investments to boost the production & application potential of compressor units.
Why is the demand for scroll compressors expanding?
Scroll compressors segment held a robust share in air source heat pump compressor industry in 2023 and is set to surpass USD 21 billion by 2032, driven by the growing demand for energy-efficient HVAC systems and continuous technological enhancements.
How big is the air source heat pump compressors market?
The market size of air source heat pump compressors was reached USD 12.6 billion in 2023 and is set to experience a CAGR of 14.4% through 2032, driven by the rapidly shifting consumer preference regarding efficient HVAC systems.
Which companies define the competitive landscape of air source heat pump compressors market?
Atlas Copco, BITZER Group, CAREL INDUSTRIES S.p.A., Carrier, Daikin, Danfoss, Embraco LLC, Emerson Electric Co, GREE ELECTRIC APPLIANCES, INC, Guangzhou SPRSUN New Energy Technology Development Co., Ltd. are some of the major industry contenders.