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North America Air to Water Heat Pump Market Size

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

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North America Air to Water Heat Pump Market Size

North America Air to Water Heat Pump Market was valued at USD 1.3 billion in 2023 and is likely to register at a CAGR of over 18.1% between 2024 and 2032, driven by increasing demand for energy-efficient heating and cooling solutions, alongside a shift toward renewable energy sources. Government incentives and rising consumer awareness regarding environmental sustainability are further propelling market expansion.

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According to the U.S. Energy Information Administration, energy consumption in residential and commercial sectors is expected to grow by 10% by 2030, highlighting the need for efficient heating and cooling technologies. The push for reducing carbon footprints and energy costs is enhancing the adoption of air-to-water heat pumps across North America.

North America Air to Water Heat Pump Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Air to Water Heat Pump Market Size in 2023:	USD 1.3 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	18.1%
2032 Value Projection:	USD 6.4 Billion
Historical Data for:	2021 - 2023
No. of Pages:	70
Tables, Charts & Figures:	10
Segments covered:	Application
Growth Drivers:	Growing expenditure across the development of residential and commercial establishments Rising demand for reliable heating & cooling systems Favorable measures to limit carbon footprint
Pitfalls & Challenges:	Prevalence of cost-effective alternatives

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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.