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North America Air Source Heat Pump Compressors Market Trends

Report ID: GMI9964
Published Date: Jun 2024
Report Format: PDF

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North America Air Source Heat Pump Compressors Market Trends

The North America air source heat pump compressor industry is set to grow owing to rising focus toward limiting emissions and significant focus towards improving energy efficiency. Increasing emphasis toward electrification and decarbonization, and accelerated investments by manufacturers to introduce enhanced heat pump compressors units will augment the business landscape.

For instance, in March 2024, LG Electronics Canada unveiled the R32 monobloc air-to-water heat pump unit. The system features noise reduction technology with an encapsulated compressor and vibration decoupling, operating as quietly as 49dB at 1 meter. Designed for year-round comfort, it supports cooling at 5-27°C and heating at 15-65°C. Additionally, extreme climatic conditions and shifting inclination to meet energy efficiency regulation will influence the business dynamics.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

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.

The scroll type segment is projected to exceed USD 3.5 billion by 2032, attributed to the growing emphasis on energy efficiency.

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.

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