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Asia Pacific Variable Speed Heat Pump Market
Asia Pacific Variable Speed Heat Pump Market was valued at USD 21.5 billion in 2023 and is anticipated observe around 10.8% CAGR from 2024 to 2032. The increasing demand for efficient space heating & cooling technologies, coupled with the rapid expansion of building infrastructure, is poised to reshape the business landscape.
Additionally, the ongoing shift towards replacing traditional heating systems to reduce carbon emissions will further propel the industry growth. For instance, in 2022, Japan has implemented an energy savings and efficiency program exceeding USD 7.1 billion. This initiative primarily targets subsidies for the replacement of inefficient facilities in factories and buildings, retrofitting residential structures, and installing water heat pumps.
What is the size of Asia Pacific variable speed heat pump market?
Asia Pacific market for variable speed heat pump was reached USD 21.5 billion in 2023 and is anticipated observe a growth rate of over 10.8% through 2032, driven by the increasing demand for efficient space heating & cooling technologies.
Why is the demand of residential variable speed heat pumps growing in Asia Pacific?
Residential variable speed heat pump segment in Asia Pacific market is projected to surpass USD 43 billion by 2032, on account of the rapidly rising population with demand for housing infrastructure.
Why is China variable speed heat pump industry expanding?
China variable speed heat pump market is set to reach USD 32 billion by 2032, strengthened by its large population, rapid urbanization, and government support for energy-efficient technologies.
Who are the key players involved in Asia Pacific variable speed heat pump market?
AusGeothermal, Australian Energy Systems, Bosch Thermotechnology Corp., Carrier, Daikin, GE Appliances, GUANGDONG EXINDA TECHNOLOGY CO., LTD., Guangzhou SPRSUN New Energy Technology Development Co., Ltd., Hayward Industries, Inc., and Johnson Controls.