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North America Commercial Heat Pump Market Trends

Report ID: GMI11097
Published Date: Aug 2024
Report Format: PDF

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North America Commercial Heat Pump Market Trends

North America commercial heat pump industry is poised for substantial growth driven by supportive regulations addressing the ongoing energy crisis and a rising demand for energy-efficient solutions. In addition, regional governments are channeling investments into non-fossil fuel heating and cooling systems, aiming to diminish dependence on conventional energy sources, the tax credit is now determined as 30% of the expenses for qualifying home improvements made within the year.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of North America commercial heat pump was worth over USD 4.3 billion in 2023 and will record a 7.7% CAGR from 2024 and 2032, due to the increasing energy efficiency standards and the shift towards sustainable heating and cooling solutions.

North America commercial heat pump market from the air source segment will reach USD 6 billion by 2032, propelled by its cost-effectiveness and ease of installation.

U.S. commercial heat pump industry will surpass USD 8 billion by 2032, fueled by strong focus on energy efficiency and sustainability in building infrastructure.

Key firms operating in the North America commercial heat pump market are Bosch Thermotechnology Corp., Carrier, Colmac Industries, ClimateMaster Inc., Daikin, FUJITSU GENERAL, GREE Commercial, Johnson Controls, Nordic Heat Pumps, Rheem Manufacturing Company, Trane, Transom Corporation, and WaterFurnace International, among others.