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Air to Air Heat Pump Market Trends

Report ID: GMI5938
Published Date: Oct 2024
Report Format: PDF

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Air to Air Heat Pump Market Trends

The air to air heat pump industry is set to grow owing to varying climatic conditions across various regions, driven by increasing greenhouse gas emissions and temperature, and increasing demand for energy efficient heating & cooling systems. Implementation of various measures to curb emissions and the integration of innovative technologies, will augment the business dynamics.

For instance, in February 2024, nine states in the U.S. established ambitious goals for increasing the use of zero-emission heat pumps in homes. This initiative amins to lower residential emissions and promote cleaner energy-efficient devices for heating, cooling, and water heating. Growing need for maintaining comfortable temperatures across various applications, coupled with government policies promoting energy-efficient systems will complement the industry landscape.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The global market for air-to-air heat pump was reached USD 19 billion in 2023 and is set to grow at a 9.7% CAGR from 2024 to 2032, driven by the increasing adoption of energy-efficient systems.

The ducted segment is predicted to hit USD 21 billion by 2032, due to rising demand for heating and cooling solutions and favorable government incentives.

The single-family application segment is projected to witness a growth rate of over 9.5% through 2032, driven by the shift towards energy-efficient systems and advancements in smart controls.

The U.S. air-to-air heat pump market is projected to surpass USD 11 billion by 2032, supported by ongoing infrastructure development and favorable regulatory reforms.

Key industry players include AAON, American Standard Heating and Air Conditioning, Bard HVAC, Bosch Thermotechnology, Carrier, Daikin, Fujitsu General, GREE Comfort, LG Electronics, Lennox, MRCOOL, Napoleon, Panasonic, Rheem, Samsung, Stiebel Eltron, and Trane.