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North America Commercial Air to Water Heat Pump Market Trends

Report ID: GMI11731
Published Date: Oct 2024
Report Format: PDF

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North America Commercial Air to Water Heat Pump Market Trends

North America commercial air to water heat pump is set to grow owing to rising adoption of ambient and reliable heating solutions and accelerating commercial building infrastructure development. Ongoing initiatives toward replacement of conventional heating and hot water systems along with stringent emissions regulations is complementing the industry outlook. Growing emphasis on curbing carbon emissions, development of energy efficient building infrastructure and favorable initiatives promoting heat pump deployment will augment the business dynamics.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The North American market for commercial air-to-water heat pumps was reached USD 438 million in 2023 and is estimated to register more than 17.9% CAGR from 2024 to 2032, driven by rising demand for superior space heating and hot water solutions.

The hospitality segment will surpass the USD 450 million by 2032, attributed to a growing preference for efficient heating, cooling, and hot water solutions in buildings.

By 2032, the U.S. market for commercial air-to-water heat pumps is projected to exceed USD 1.8 billion, bolstered by the rising adoption of low-carbon alternatives, favorable regulatory policies, and the rollout of advanced emission reduction technologies.

Major key industry players are Arctic Heat Pumps, Bosch Thermotechnology, Chiltrix, Glen Dimplex Group, Hydro Solar Innovative Energy, Lochinvar, Mestek, Mitsubishi Heavy Industries, Raypak, Rheem Manufacturing Company, SpacePak, State Industries, Swegon North America, Trane, and Transom Corporation.