Air to Water Heat Pump Market Analysis

Air to Water Heat Pump Market Analysis

To get key market trends

  Download Free Sample

Based on application, the residential segment is set to surpass USD 85 billion by 2032, owing to the rising population have to an increase in the hot water and space heating demand along with establishment of multi-story buildings and large residential spaces. Moreover, increasing demand for efficient technologies to serve heating needs for residential applications along with shifting consumer focus toward the adoption of energy efficient technologies will augment the residential air to water heat pump industry.
 

Commercial application is set to witness an appreciable momentum owing to the introduction of stringent building energy standards by the regulators along with rising demand for space heating & hot water from healthcare establishments, educational institutes, retail sectors among many others. Robust economic frameworks, coupled with government initiatives to increase foreign investments in the service sector, will drive business growth. Moreover, growing construction expenditures, introduction of innovative units, stringent emission standards, and refurbishing of prevailing public establishments are the key parameters complementing the commercial air to water heat pump industry.
 

Asia Pacific air to water heat pump market is predicted to hit USD 45 billion by 2032, owing to the rising population and urbanization rate across the region along with the increasing demand for space heating and hot water across colder territories. The expanding presence of residential and commercial buildings in urban and suburban areas has significantly contributed towards the product demand. Moreover, respective governments across the region have introduced various beneficial schemes including corporate tax credits, rebates, and personal tax credit to promote the adoption of various energy efficiency technologies driving the industry growth.
 

Europe air to water heat pump market is directed by encouraging regulatory policies, reinforced by numerous fiscal support schemes and policies. Various industry participants in collaboration with government departments are emphasizing on introducing new research & development initiatives to enhance the product efficiency ratings and deployment potential across new verticals.