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Asia Pacific Commercial Heat Pump Market Size
Asia Pacific Commercial Heat Pump Market was valued at USD 4.5 billion in 2023 and is the is set to grow at CAGR of 9.9% from 2024 to 2032. Rising demand for efficient and reliable heating & cooling solutions across commercial applications along with shifting focus toward enhance comfort and ambient temperature will accelerate the product demand.
Accelerating expenditures for the development of commercial establishments owing to rising population and rising urbanization across developed countries will complement the industry landscape. Moreover, growing inclination toward limiting emissions and stringent regulations toward enhancing the energy efficiency of commercial establishments will further augment the business outlook.
Which are the leading commercial heat pump companies in Asia Pacific?
Bosch Thermotechnology Ltd., Carrier, Daikin, FUJITSU GENERAL, Glen Dimplex Group, GREE Commercial, Guangzhou SPRSUN New Energy Technology Development Co., Ltd., LG Electronics, and Mitsubishi Electric Corporation, among others.
How large is the China commercial heat pump market?
China commercial heat pump industry size is set to record USD 7 billion by 2032, due to rising demand for reliable, efficient space heating and cooling solutions and growing inclination toward reducing carbon emissions.
Why is the demand for hospitality commercial heat pumps rising in Asia Pacific?
APAC commercial heat pump industry from the hospitality segment will record USD 9.5% CAGR through 2032, due to the rising demand for efficient heating and cooling solutions in hotels, resorts, restaurants, and other hospitality venues and focus on energy efficiency.
How big is the Asia Pacific commercial heat pump market?
Asia Pacific market for commercial heat pump was worth over USD 4.5 billion in 2023 and is anticipated to register 9.9% CAGR between 2024 to 2032, owing to rising population and rapid urbanization.