Asia Pacific Residential Air to Water Heat Pump Market Size - By Application, By Product, Analysis, Share, Growth Forecast, 2024 – 2032

Asia Pacific Residential Air to Water Heat Pump Market Size

Asia Pacific Residential Air to Water Heat Pump Market was estimated at USD 14.2 billion in 2023 and is set to expand at a CAGR of 12.6% from 2024 to 2032.
 

Increasing demand for energy-efficient hot water & heating system across residential sector along with rapid urbanization and rising population is driving the industry growth. Shifting focus on reducing emissions coupled with stringent regulatory standards for energy efficiency, and government initiatives promoting heat pump adoption, are accelerating the product deployment.
 

Asia Pacific Residential Air to Water Heat Pump Market Trends

Asia Pacific residential air-to-water heat pump industry is anticipated to grow owing to rising construction activities across the residential sector driven by increasing urbanization and rising demand for hot water and space heating solutions. Favorable regulatory framework encouraging the adoption of heat pumps, coupled with consumer inclination toward adoption of advanced technological solutions will complement the industry landscape. For instance, in April 2024, China's Standardization Administration introduced a new mandatory national standard for heat pump and water chiller energy efficiency, replacing four existing standards, unifying requirements for water chillers and low ambient temperature air source heat pumps.
 

Furthermore, ongoing technological advancements, increased environmental consciousness, and the enforcement of stringent energy efficiency regulations will positively influence business dynamics.
 

Asia Pacific Residential Air to Water Heat Pump Market Analysis

The single-family application is set to cross over USD 26 billion by 2032. Increasing urban population, coupled with strict government mandates for energy conservation, is driving the demand for air-to-water heat pump systems. Rising living standards and the demand for compact, efficient heating technologies are significant factors influencing product deployment in domestic applications. Additionally, growing focus on improving building energy efficiency in emerging economies and increasing concerns about emission reductions are boosting the demand for clean and energy-efficient technologies further complementing the air-to-water heat pump industry outlook.
 

Domestic hot water heat pump is anticipated to witness a CAGR of over 12.5% through 2032. Increasing demand for hot water in households, along with a shift towards energy-efficient solutions, is driving the adoption of these units. These systems are designed for optimal performance and easy installation, addressing both space heating and hot water needs. Additionally, favorable regulations toward heat pump deployment, growth in the construction industry, and increasing retrofitting of building infrastructure with energy-efficient systems is set to positively influence the industry outlook.
 

China residential air to water heat pump market is likely to exceed USD 24 billion by 2032. Increasing consumer awareness of energy-efficient alternatives, government financial incentives, expanding building infrastructure, and growing demand for low-carbon heating and cooling solutions will accelerate product deployment. Rapidly growing real estate sector owing to rising population and government initiatives promoting smart city development will complement the business landscape. Furthermore, ongoing innovations across heat pump systems including variable speed compressor technology and increasing investments to introduce eco-friendly solutions, will augment the industry landscape.
 

Asia Pacific Residential Air to Water Heat Pump Market Share

Manufacturers in the industry are incorporating advanced controls and monitoring features into their heat pump units to improve performance, remote management capabilities, and energy optimization systems, which contribute to more efficient product deployment. Players across the Asia Pacific residential air-to-water heat pump market are focusing on introducing technologies that has low energy consumption and greenhouse gas emissions. In response to growing environmental concerns, authorities have implemented strict energy efficiency standards, which are significantly influencing industry dynamics.
 

Asia Pacific Residential Air to Water Heat Pump Market Companies

Major players operating across the industry include:

• Carrier
• Daikin
• Fujitsu
• Glen Dimplex
• Guangdong Phnix
• Guangzhou Sprsun
• Johnson Controls-Hitachi
• LG Electronics
• Mitsubishi Electric
• Panasonic
• Samsung
• Stiebel Eltron
• Sunrain
• Tongyi
• Viessmann
   

Asia Pacific Residential Air to Water Heat Pump Industry News

• In February 2024, Panasonic unveiled its latest offering, the ECOi-W Aqua-G Blue. This air-to-water reversible heat pump is designed for multi-dwelling residential use, commercial, industrial, and. Featuring a variable speed pump, the ECOi-W Aqua-G Blue automatically adjusts its speed based on demand. The manufacturer claims this innovation leads to a remarkable 70% reduction in energy consumption annually. The heat pump comes in four variants, boasting rated powers of 50, 60, 70, and 80 kW.
   
• In January 2024, Mitsubishi Heavy Industries Thermal Systems introduced a monobloc air-to-water heat pump designed to replace traditional boilers in both new and existing buildings. The Hydrolution EZY heat pump comes in two models, offering outputs of 10 kW and 14 kW. These systems utilize difluoromethane (R32) as the refrigerant and maintain high performance even in temperatures as low as -25°C. The design effectively reduces noise levels, with the 10kW model operating at a sound power level of 60 dB(A) at full capacity.
   

This Asia Pacific residential air to water heat pump 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 Application

• Single family
• Multi family

Market, By Product

• Domestic hot water heat pump
• Room heat pump

The above information has been provided for the following countries:

• China
• Japan
• Australia
• South Korea