Home > Industrial Machinery > HVAC > Heat Pumps > Commercial Air to Water Heat Pump Market

Commercial Air to Water Heat Pump Market Trends

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

Download Free Sample

Commercial Air to Water Heat Pump Market Trends

The commercial air to water heat pump industry is set to grow owing to rising energy costs, growing demand for space heating & hot water along with accelerating adoption of renewable energy sources. Favorable government incentives, regulations, tax schemes, with many jurisdictions offering incentives for businesses to invest in renewable energy technologies is set to influence the business outlook. For instance, from January 1, 2023, the U.S. Energy Efficient Commercial Buildings Deduction allows building owners to claim a tax deduction for installing energy-efficient commercial building property. This deduction is now available to designers of EECBP/EEBRP installed in buildings and owners of qualified commercial buildings owned by specified tax-exempt entities, expanding eligibility from previous regulations.

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.