>
>
Heat Pump Compressors Market Size – By Product (Air Source, Ground Source, Water Source), By Type (Reciprocating, Scroll, Rotary, Screw, Centrifugal), Regional Outlook & Forecast, 2024 - 2032
Report ID: GMI5696
|
Published Date: July 2024
|
Report Format: PDF
Download free sample
Get a free sample of Heat Pump Compressors Market
Get a free sample of Heat Pump Compressors Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Buy Now
$4,123 $4,850
15% off
$4,840 $6,050
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2023
Companies covered: 17
Tables & Figures: 40
Countries covered: 24
Pages: 125
Download Free Sample
Heat Pump Compressors Market Size
Heat Pump Compressors Market was valued at USD 13.9 billion in 2023 and is projected to witness about 13.7% CAGR between 2024 and 2032. The rise in demand for space heating & cooling across diverse sectors is driving the adoption of low carbon heating & cooling technologies shaping the industry landscape.
Moreover, industry leaders are intensifying the research & development efforts, aiming to roll out cutting-edge heat pump systems with enhanced operational efficiency adding to the business dynamics. For instance, in August 2023, the U.S. Department of Energy allocated USD 46 million Buildings Energy Efficiency Frontiers & Innovation Technologies (BENEFIT) funding initiative accelerating research across various technologies including heat pumps for residential & commercial spaces.
Heat Pump Compressors Market Trends
The heat pump compressor sector is poised for substantial growth, driven by strategic initiatives from major regulatory bodies. These initiatives aim to replace traditional heating systems with cleaner, more sustainable alternatives, particularly heat pumps. In addition, financial incentives like tax rebates, grants, and increased investments from key industry players are further fueling the shipment of heat pump systems, thereby augmenting the industry growth trajectory.
Heat Pump Compressors Market Analysis
Based on product, the market can be primarily trifurcated into air source, ground source, and water source. Air source heat pump compressor industry is set to surpass USD 42 billion by 2032 owing the growing emphasis on decarbonization coupled with the increasing demand for innovative compressor units offering high COP ratings. Moreover, introduction of advanced ASHP units with innovative components offering improved operational capabilities will further boost the air source heat pump compressor market growth.
With respect to type, the industry can be majorly categorized into screw, scroll, rotary, centrifugal, and reciprocating. Scroll compressor segment is projected to observe a CAGR of over 15.5% through 2032, owing to the ongoing research & development by the major compressor manufacturers. In addition, wide range of augmented operational characteristics including smooth operations, higher efficiency, and growing shift towards using environmentally-friendly refrigerants, are some of the major factors augmenting the scroll heat pump compressor industry.
Asia Pacific heat pump compressors market is set to cross over USD 14 billion by 2032. Flourishing investments for the development of energy efficient residential, commercial and industrial establishments along with focus on reducing emission will complement the business landscape. Moreover, rapid rate of urbanization, increasing construction of residential, commercial, & industrial buildings, fast paced population expansion, and growing heating & cooling demand are among the key factors augmenting the Asia Pacific heat pump compressor industry.
Heat Pump Compressors Market Share
Leading industry participants have been consistently restructuring their research & development investments to expand and enhance product portfolios along with fresh investments to incorporate a sustainable technological platform positively catering to the industry growth. Moreover, the major companies including Danfoss, Emerson Electric Co., Carrier, and DAIKIN INDUSTRIES Ltd., among others experience a strong market position owing to their expanding production facilities, strategic partnerships & collaborations, and continuous advancements with durable & smart compressors.
Heat Pump Compressors Market Companies
The major key players that are actively participating across the industry include:
Heat Pump Compressors Industry News
This heat pump compressors market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2021 to 2032 for the following segments:
Click here to Buy Section of this Report
Market, By Product
Market, By Type
The above information has been provided for the following regions and countries: