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Commercial Air to Water Heat Pump Market Size

Report ID: GMI8966
Published Date: Apr 2024
Report Format: PDF

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Commercial Air to Water Heat Pump Market Size

Commercial Air to Water Heat Pump Market size was estimated at USD 5.8 billion in 2023 and is set to witness CAGR of 18% between 2024 and 2032. Growing demand for reliable space heating & hot water solutions along with stringent building mandates encouraging for energy efficiency and carbon reduction, is driving the adoption of energy-efficient HVAC solutions.

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For instance, in December 2023, the European Performance of Buildings Directive was revised to offer detailed strategies for decarbonizing building stock and sets targets for renovating at least 16% of the EU's worst performing non-residential buildings by 2030. Furthermore, the operational advantages offered by these systems including reliable performance, high efficiency, and cost-effectiveness will contribute to product deployment.

Commercial Air to Water Heat Pump Market Report Attributes
Report Attribute	Details
Base Year:	2023
Commercial Air to Water Heat Pump Market Size in 2023:	USD 5.8 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	18%
2032 Value Projection:	USD 25.9 Billion
Historical Data for:	2019 - 2023
No. of Pages:	305
Tables, Charts & Figures:	410
Segments covered:	Application and Region
Growth Drivers:	Increasing investment for construction of commercial establishments Stern regulations to curb carbon emissions Stringent building emission codes and rising demand for energy efficient technologies
Pitfalls & Challenges:	High significant cost

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Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of commercial air to water heat pump reached USD 5.8 billion in 2023 and is set to witness 18% CAGR from 2024 to 2032, owing to the growing demand for reliable space heating & hot water solutions along with stringent building mandates worldwide.

The hospitality segment is expected to cross USD 4.5 billion by 2032, due to growing construction activities including hotels, resorts, and restaurants along with increasing demand for versatile heating and cooling solutions.

Europe market is poised to surpass USD 16 billion by 2032, attributed to growing adoption of low-carbon alternatives, coupled with favorable regulatory policies, and introduction of enhanced technologies to curb emissions in the region.

Daikin, Master Therm tepelná ?erpadla s. r. o., MESTEK, INC., Mitsubishi Electric Corporation, Nuetech Solar Systems Pvt. Ltd, Panasonic Corporation, Rheem Manufacturing Company, Rinnai, and Trane, are some of the major commercial air to water heat pump companies worldwide.