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Ductless Heat Pump Market Trends

Report ID: GMI5567
Published Date: Nov 2024
Report Format: PDF

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Ductless Heat Pump Market Trends

Ductless heat pump industry is set to grow owing to increasing emphasis on energy efficiency and sustainability, driven by environmental concerns and government regulations. Ductless heat pumps, known for their high energy efficiency ratings, and contribute to reduced energy consumption and lower greenhouse gas emissions, accelerating the product demand. Rising demand from residential and commercial sectors for versatile heating and cooling solutions coupled with ongoing expansion of building infrastructure across various nations will accelerate the product deployment.

Moreover, shifting focus on energy efficient building infrastructure, technological advancements and stringent emission reduction mandates are some of the key factors augmenting the industry outlook.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of ductless heat pump reached USD 10.2 billion in 2024 and is set to grow at a 9.7% CAGR from 2025 to 2034, driven by the increasing focus on renewable energy technologies for residential and commercial heating and cooling.

The residential segment is anticipated to cross USD 18.8 billion by 2034, led by the increasing adoption of mini-split heat pumps and stringent government regulations promoting energy-efficient HVAC systems.

The U.S. market is set to reach USD 3.8 billion by 2034, propelled by rising demand for efficient heating and cooling solutions, government initiatives for smart city development, and ongoing infrastructure development.

Major players in the industry include Argoclima, Blue Star, Bosch Thermotechnology, Bryant Heating & Cooling, Carrier, Daikin, Fujitsu General, Gree Electric Appliances, Johnson Controls, Klimaire Products, Lennox International, MRCOOL, Panasonic, Rheem Manufacturing, Samsung, and Trane.