North America Air Source Heat Pump Compressors Market Analysis

North America Air Source Heat Pump Compressors Market Analysis

To get key market trends

  Download Free Sample

Scroll segment is anticipated to surpass USD 3.5 billion by 2032. Increasing emphasis on energy efficiency which has led consumers and businesses to adopt HVAC systems reducing energy consumption and lower utility costs has augmented the product demand. Continuous technological advancements including the development of variable speed compressor units, which enhance the performance and efficiency of these systems, positively influencing the scroll air source heat pump compressors industry outlook.
 

Reciprocating heat pump compressors for air source heat pump is set to grow owing to rising demand for efficient and reliable heating & cooling solutions coupled with the accelerating deployment of advance technological heat pump units. The ability of the product to offer heating & cooling from a single system, simple installation, versatile operations and cost-effectiveness and across heat pump applications is set to propel the product demand. Shifting inclination toward replacement of traditional heating systems to curb carbon emissions and continuous technological advancements by the key manufacturers to introduce efficient heating and cooling systems will complement the business landscape.
 

U.S. air source heat pump compressors market is expected to cross USD 6.3 billion by 2032. Rising urbanization rates, and increased need for efficient space heating and cooling solutions have influenced the business outlook. Favorable government measures to encourage the adoption of energy-efficient technologies, and rising disposable incomes of consumers positively impacted the industry dynamics.
 

For instance, in January 2023, the federal government has introduced ASHP tax credit scheme effective for units purchased & installed from January 1, 2023, to December 2032. Homeowners can claim up to USD 2,000 of tax credit for installing a heat pump. Furthermore, increasing penetration of commercial and residential infrastructure has led to large scale deployment of heat pumps, augmenting the industry outlook.