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North America Air Source Heat Pump Compressors Market Size
North America Air Source Heat Pump Compressors Market size was evaluated at USD 2.8 billion in 2023 and is set to observe a CAGR of 10% between 2024 and 2032. The paradigm shifts toward consumer preferences toward adoption of energy efficient heat pump systems along with rising demand for reliable and low emission solutions is set to complement the business landscape.
Widespread deployment of beneficial heat pump rebates and incentive programs by respective authorities has accelerated the integration of heat pump units, further shaping the business dynamics. For instance, in February 2024, nine states of U.S. have signed a memorandum of understanding to boost heat pump sales and set target to represent 65% of residential heat pump sales by 2030.
Why is the demand for scroll air source heat pump compressors rising in North America?
The scroll type segment is projected to exceed USD 3.5 billion by 2032, attributed to the growing emphasis on energy efficiency.
How big is the North America air source heat pump compressors market?
The market size of North America air source heat pump compressors reached USD 2.8 billion in 2023 and is set to witness 10% CAGR from 2024 to 2032, owing to the rising demand for reliable and low emission solutions.
Which are the key players operating in the North America air source heat pump compressors market?
BITZER Group, CAREL INDUSTRIES S.p.A., Carrier, Daikin, Danfoss, Emerson Electric Co, FRASCOLD SPA, GREE ELECTRIC APPLIANCES, INC, JOHNSON CONTROLS - HITACHI AIR CONDITIONING COMPANY, and LG Electronics among others
What factors are driving air source heat pump compressors industry growth in the U.S.?
U.S. market is poised to record more than USD 6.3 billion by 2032, due to the rising urbanization rates, and increasing need for efficient space heating and cooling solutions.