Asia Pacific Heat Pump Compressors Market Size – By Product (Air Source, Ground Source, Water Source), By Type (Reciprocating, Scroll, Rotary, Screw, Centrifugal), Country Outlook & Forecast, 2024 – 2032

Asia Pacific Heat Pump Compressors Market Size

Asia Pacific Heat Pump Compressors Market was valued at USD 6.1 billion in 2023 and is projected to attain about 10.5% CAGR from 2024 to 2032. Rising demand for reliable and efficient heating & cooling technologies across various applications along with increasing adoption of renewable technologies will complement the business landscape.
 

Increasing investments for infrastructure development owing to rising population and urbanization has led to adoption of heat pump systems further stimulating the industry outlook. Moreover, stringent regulations to curb emissions and favorable policies energy efficiency of buildings will augment the industry landscape.
 

Asia Pacific Heat Pump Compressors Market Trends

Asia Pacific heat pump compressors industry is anticipated to grow owing to positive inclination toward adoption of energy efficient heating & cooling systems coupled with favorable reforms on replacement of conventional technologies. Growing emphasis on decarbonization and increasing investments to introduce advanced heat pump technologies will augment the business landscape. Furthermore, favorable schemes including tax rebates, subsidies, financial grants by authorities for adoption of heat pump systems will positively influence the business dynamics.
 

Asia Pacific Heat Pump Compressors Market Analysis

The air source segment is anticipated to surpass over USD 14 billion by 2032. Increasing demand for efficient space heating & hot water technologies along with shifting focus toward replacement of prevailing technologies is set to augment the product demand. Ongoing development for the compressor technology including variable speed to increase the efficiency and performance of heat pumps will further accelerate product deployment. Moreover, rising construction of residential and commercial infrastructure, and favorable schemes for the adoption of low carbon technologies will positively influence the air source heat pump compressors industry outlook.
 

Scroll heat pump compressors segment is anticipated to witness more than 12% CAGR through 2032. Growing emphasis toward adoption of energy efficient heat pump systems that led businesses and consumers to deploy advanced systems to reduce energy consumption and minimize utility costs further accelerating the product demand. Ongoing advancements in technology coupled with growing utilization of these units across large capacity heat pumps and offering enhanced comfort, efficiency and smooth operations, further positively influencing the scroll heat pump compressors industry outlook.
 

Reciprocating heat pump compressors is anticipated to grow on account of rising demand for heating & cooling systems along with increasing deployment of heat pump systems with enhanced technologies. Incorporation of smart technologies to deliver enhanced efficiency optimization and improved control along with the ability to offer versatile operations simple installation, and cost-effectiveness across heat pump applications will boost the product demand.
 

China heat pump compressors market is likely to exceed USD 8.5 billion by 2032. Rapid population growth, increasing urbanization rates, and growing demand for space heating & cooling solutions will complement the business landscape. Favorable government measures to encourage the adoption of energy-efficient technologies, shifting inclination toward replacement of traditional heating systems to curb carbon emissions will complement the business landscape. For instance, in 2023, China joined the Buildings Breakthrough at the Conference of the Parties 28, pledging a commitment to near-zero emissions and resilient building infrastructure by 2030.
 

Asia Pacific Heat Pump Compressors Market Share

Key players in the Asia Pacific heat pump compressors industry are aiming toward unveiling new technologies, product launches, manufacturing facilities expansion, making collaborative agreements, partnerships aiming for mergers & acquisitions, to enhance their market presence over the others. Major manufacturers including MAYEKAWA MFG. CO., LTD., Panasonic Corporation, DAIKIN INDUSTRIES, LTD., LG Electronics, GREE ELECTRIC APPLIANCES, INC., and Carrier, among others holds majority of the market share.
 

Asia Pacific Heat Pump Compressors Market Companies

Major manufacturers operating across the industry consists of:

• BITZER
• Bock GmbH
• Carrier
• Copeland LP
• DAIKIN INDUSTRIES, Ltd.
• Danfoss
• Emerson Electric Co.
• GEA Group Aktiengesellschaft
• GREE ELECTRIC APPLIANCES, INC.
• LG Electronics
• MAYEKAWA MFG. CO., LTD.
• Midea Group
• Panasonic Corporation
• RECHI PRECISION CO., LTD.
• Secop GmbH
• Siam Compressor Industry Co., Ltd.
• Tecumseh Products Company LLC
   

Asia Pacific Heat Pump Compressors Industry News

• In March 2024, Copeland announced to introduce 50 HP scroll compressors for heat pumps OEMs in Asia. This unit is available in enhanced vapour injection which is capable up to -30 °C of outdoor temperature and without injection. These units can be applied across tandem applications while the company anticipates that the OEMs will be able to create 600 kW heat pumps with low cost when connected with a pair of 50 HP tandems.
   
• In June 2023, Toshiba Carrier Corp., a subsidiary of Carrier based in Japan, was recognized at 2023 Japan National Invention Awards for its compressor deign suitable for heat pumps. The company was honored owing to the advanced technological rotary piston muti-cylinder heat pump compressors and exhaust port design. The compressor features reduced compression loss, enhanced design without overheating, discharge pulsation to support efficiency and enhanced capacity of the system.
   

This  Asia Pacific heat pump compressors market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2021 to 2032 for the following segments:

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Market, By Product

• Air Source
  • Reciprocating
  • Scroll
  • Rotary
  • Screw
  • Centrifugal
• Ground Source
  • Reciprocating
  • Scroll
  • Rotary
  • Screw
  • Centrifugal
• Water Source
  • Reciprocating
  • Scroll
  • Rotary
  • Screw
  • Centrifugal

Market, By Type

• Reciprocating
• Scroll
• Rotary
• Screw
• Centrifugal

The above information has been provided for the following countries:

• China
• Japan
• Australia
• South Korea