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Asia Pacific Residential Air to Water Heat Pump Market Size

Report ID: GMI11573
Published Date: Sep 2024
Report Format: PDF

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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.

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Residential Air to Water Heat Pump Market Size in 2023:	USD 14.2 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	12.6%
2032 Value Projection:	USD 40.9 Billion
Historical Data for:	2021 - 2023
No. of Pages:	85
Tables, Charts & Figures:	12
Segments covered:	Application, Product, and Country
Growth Drivers:	Rising demand for heating & hot water across residential establishments Favorable regulatory landscape and supportive financial policies toward adoption of energy efficient systems
Pitfalls & Challenges:	Availability of conventional technologies along with significant initial cost

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Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of Asia Pacific residential air to water heat pump was worth over USD 14.2 billion in 2023 and could record around 12.6% CAGR between 2024 and 2032, due to the increasing demand for energy-efficient hot water & heating systems.

Asia Pacific residential air to water heat pump from single family application is expected to surpass USD 26 billion by 2032, owing to the increasing urban population, coupled with strict government mandates for energy conservation.

Domestic hot water heat pumps are projected to grow at a CAGR of over 12.5% till 2032 on account of increasing household demand for hot water and a shift towards energy-efficient solutions.

China residential air to water heat pump industry size may exceed USD 24 billion by 2032, driven by the rising population and government initiatives promoting smart city development

Carrier, Daikin, Fujitsu, Glen Dimplex, Guangdong Phnix, Guangzhou Sprsun, Johnson Controls-Hitachi, LG Electronics, Mitsubishi Electric, Panasonic, Samsung, Stiebel Eltron, Sunrain, Tongyi, Viessmann are some of the key residential air-to-water heat pump companies in Asia Pacific.