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Commercial Air Source Heat Pump Market Share

Report ID: GMI11621
Published Date: Sep 2024
Report Format: PDF

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Commercial Air Source Heat Pump Market Share

The commercial air source heat pump industry is currently experiencing significant growth, driven by several competitive trends shaped by the presence of supportive policies and incentives aimed at reducing carbon emissions. Key players including Carrier, Daikin, Trane, and OCHSNER, among others, are constantly seeking advent of advanced technologies including variable-speed compressors and hybrid systems, enhancing efficiency and performance of the systems to boost their market share & presence.

Commercial Air Source Heat Pump Market Companies

Key manufacturers actively participating across the industry consist of:

Bosch
Carrier
Clade
Clivet
Daikin
Glen Dimplex
Guangdong PHNIX
Guangzhou SPRSUN
Lochinvar
Mitsubishi Electric
Mestek
Ochsner
Panasonic
Rheem
Rinnai
Trane

Authors: Ankit Gupta , Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of commercial air source heat pump reached USD 10.6 billion in 2023 and is projected to grow at a CAGR of over 15% from 2024 to 2032, led by growing integration of smart building technologies.

The air-to-water product segment is expected to grow at a rate of over 17.5% through 2032, propelled by the focus on energy efficiency, stringent government regulations, and the increasing demand for space heating and domestic hot water.

The hospitality segment is projected to exceed USD 7 billion by 2032, driven by the growing installation of heat pumps in hospitality areas for energy-efficient heating and cooling, as well as the demand for consistent hot water solutions in restaurants, cafes, and hotels.

The U.S. market is set to surpass USD 5.5 billion by 2032, driven by increasing awareness of energy efficiency, the need to reduce greenhouse gas emissions, and new public-private partnerships fostering innovation and operational expertise.

Key manufacturers include Bosch, Carrier, Clade, Clivet, Daikin, Glen Dimplex, Guangdong PHNIX, Guangzhou SPRSUN, Lochinvar, Mitsubishi Electric, Mestek, Ochsner, Panasonic, Rheem, Rinnai, and Trane.