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Heat Pump Compressors Market Trends

Report ID: GMI5696
Published Date: Jul 2024
Report Format: PDF

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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.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of heat pump compressors was worth over USD 13.9 billion in 2023 and is projected to grow at 13.7% CAGR from 2024 to 2032, owing to the rising demand for space heating & cooling across diverse sectors.

Air source segment in the heat pump compressor market is set to surpass USD 42 billion by 2032 owing the growing emphasis on decarbonization.

Asia Pacific heat pump compressors market is set to reach over USD 14 billion by 2032 attributed to the inflowing investments for the development of energy efficient residential, commercial and industrial establishments.

ATLAS COPCO AB, BITZER, CAREL INDUSTRIES S.p.A, Carrier, DAIKIN INDUSTRIES Ltd., Danfoss, Dorin S.p.A., Emerson Electric Co., GEA Group Aktiengesellschaf, and GMCC COMPANY among others.