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Asia Pacific Heat Pump Coils Market Size

Report ID: GMI10912
Published Date: Aug 2024
Report Format: PDF

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Asia Pacific Heat Pump Coils Market Size

Asia Pacific Heat Pump Coils Market was valued at USD 1.8 billion in 2023 and is set to grow at a CAGR of 10.5% from 2024 to 2032. Growing investments in development of residential and commercial establishments, coupled with an increasing demand for energy-efficient technologies and sustainable systems, will complement the business landscape.

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Supportive government regulations and newly introduced grants and incentives will further accelerate the adoption of energy-efficient technologies. For instance, In June 2023, In July 2024, the Energy Efficiency Council launched the roadmap for heat pump hot water systems in Australia. This initiative helps Australians save money and reduce greenhouse gas emissions with high-quality HPHWS products under a modernized regulatory framework.

Asia Pacific Heat Pump Coils Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Heat Pump Coils Market Size in 2023:	USD 1.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	10.5%
2032 Value Projection:	USD 4.4 Billion
Historical Data for:	2021 to 2023
No. of Pages:	70
Tables, Charts & Figures:	12
Segments covered:	Heat Pump Type and Country
Growth Drivers:	Rising demand for reliable space heating & cooling systems Favorable regulatory landscape and supportive financial policies for heat pump adoption
Pitfalls & Challenges:	Availability of various heat pumps alternatives

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

Asia Pacific market for heat pump coils was worth over USD 1.8 billion in 2023 and will exhibit a 10.5% CAGR from 2024 to 2032, attributed to rising energy efficiency demands and increased government incentives for sustainable HVAC systems.

Asia Pacific heat pump coils industry from the air source segment will cross USD 4 billion by 2032, due to its widespread adoption in residential and commercial applications.

China heat pump coils industry will surpass USD 2.5 billion by 2032, fueled by the expansion of residential and commercial infrastructure, favorable economic conditions, and strict regulations encouraging energy efficiency.

Armstrong International Inc., Carrier, CIG, Daikin, EVAPCO, Inc., Hangzhou Shenshi Energy Conservation Technology Co., Ltd., HPL Technology (Malaysia) Sdn Bhd, Kelvion Holding GmbH, MODINE MANUFACTURING COMPANY, Shanghai Shenglin M&E Technology Co., Ltd, TRANS ELECTRICAL ENGINEERING SDN BHD, and TTP – Thermal Transfer Products, among others.