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North America Air to Water Heat Pump Market Analysis

  • Report ID: GMI5126
  • Published Date: Jul 2024
  • Report Format: PDF

North America Air to Water Heat Pump Market Analysis

The North America air-to-water heat pump industry is projected to exceed USD 6.4 billion by 2032. This expansion is driven by a surge in demand for energy-efficient solutions and stricter regulations promoting sustainability. Government incentives and rebates further boost adoption rates, while technological advancements enhance system efficiency and affordability. Increasing environmental awareness and the push for reduced greenhouse gas emissions also contribute to this trend. Additionally, rapid urbanization and infrastructure development are fueling the need for effective heating solutions, making air-to-water heat pumps an increasingly popular choice for both residential and commercial applications.
 

North America Air to Water Heat Pump Market Share, By Application, 2023

The residential sector is projected to achieve about 18% CAGR through 2032. Key factors driving this growth include rising consumer interest in energy-efficient and sustainable heating solutions, supported by favorable government incentives and rebates. Technological advancements have also enhanced the performance and affordability of these systems. Additionally, stricter energy efficiency standards and a growing focus on reducing carbon emissions are contributing to the adoption of air-to-water heat pumps. Urban development and a heightened awareness of environmental impact further amplify the demand for these advanced heating solutions.
 

U.S. Air to Water Heat Pump Market, 2022 – 2032 (USD Billion)

The U.S. air-to-water heat pump market is likely to exceed USD 6 billion by 2032, driven by increasing energy efficiency requirements, greater consumer awareness of eco-friendly heating solutions, and supportive government policies and incentives for sustainable technologies. As per the U.S. Department of Energy, heat pumps can lower the electricity requirement for heating by approximately 50% compared to electric resistance heating. Technological advancements in heat pumps, which improve performance and reduce costs, are also driving adoption. The focus on reducing carbon footprints and transitioning to renewable energy sources further supports the market's upward trajectory.
 

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of North America air to water heat pump market size was crossed USD 1.3 billion in 2023 and will record 18.1% CAGR from 2024 to 2032, backed by increasing demand for energy-efficient heating and cooling solutions.

The residential air to water heat pump industry in North America will register 18% CAGR through 2032, owing to rising consumer interest in energy-efficient and sustainable heating solutions, supported by favorable government incentives and rebates.

The U.S. air to water heat pump market size is set to reach USD 6 billion by 2032 attributed to favorable regulatory frameworks and an increasing demand for clean energy technologies.

Trane, Carrier, Daikin, Bosch Thermotechnology Ltd., Rheem Manufacturing Company, Lochinvar, FUJITSU GENERAL, GREE ELECTRIC APPLIANCES, INC., Nordic Heat Pumps, Aermec, Arctic Heat Pumps, Chiltrix Inc., ClimateMaster, Inc., NIBE Industrier AB, and Glen Dimplex Group.

North America Air to Water Heat Pump Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 10
  • Countries covered: 2
  • Pages: 70
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