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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.
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.
Who are the key leaders in the commercial air to water heat pump market?
Daikin, Master Therm tepeln
How big is the Europe commercial air to water heat pump industry?
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.
Why is the use of commercial air to water heat pump in the hospitality sector growing?
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.
What is the value of the commercial air to water heat pump market?
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.