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Air Source Heat Pump Market Trends

Report ID: GMI2393
Published Date: Jul 2024
Report Format: PDF

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Air Source Heat Pump Market Trends

Air source heat pump industry is projected to observe significant expansion on account of extreme temperature variations, the continuous efforts to deploy reliable heating & cooling alternatives with operating temperature ranges, and significant fluctuations in the climatic conditions. Moreover, introduction of new initiatives by key industry players along with growing inclination towards adoption of cleaner refrigerants with low global warming potential (GWP) will further accelerate the transition towards ASHP systems.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of air source heat pump was worth over USD 47.7 billion in 2023 and is anticipated to experience a growth rate of 14.4% through 2032, backed by growing inclination towards adoption of cleaner refrigerants with low global warming potential (GWP).

Residential segment is set to attain a CAGR of over 14% through 2032, on account of the continuously rising infrastructure expenditure on new households, and growing number of building stocks with the adoption of cleaner technologies.

Asia Pacific air source heat pump industry is projected to surpass USD 55 billion by 2032, on account of rapidly growing population rate, increasing construction expenditure, and rising disposable incomes.

Bosch Thermotechnology Ltd, Carrier, Colmac Industries, DAIKIN INDUSTRIES Ltd, Fujitsu General, Glen Dimplex Group, Gree Electric Appliances, Inc., Swegon Group AB, Systemair AB, Toshiba Air Conditioning, and Trane among others.