Home > Industrial Machinery > HVAC > Heat Pumps > North America Commercial Heat Pump Water Heater Market

North America Commercial Heat Pump Water Heater Market Size

Report ID: GMI6663
Published Date: Sep 2023
Report Format: PDF

Download Free Sample

North America Commercial Heat Pump Water Heater Market Size

North America Commercial Heat Pump Water Heater Market size in 2023 was valued at USD 481.6 million and is estimated to surpass USD 1.34 billion by 2032. A heat pump water heater is a type of water heater that operates by using a heat pump to efficiently transfer heat from the surrounding air or ground to heat the water for domestic use. Instead of generating heat directly, like traditional electric or gas water heaters, heat pump water heaters work on the principle of heat transfer.

To get key market trends

Download Free Sample

Growing concerns pertaining to harmful greenhouse gas emissions have propelled the transitions toward placement of clean & sustainable energy systems. Ongoing deployment and adoption of clean energy systems with low carbon footprint to alleviate adverse environmental impacts will stimulate the deployment of heat pump water heaters.

North America Commercial Heat Pump Water Heater Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Commercial Heat Pump Water Heater Market Size in 2023:	USD 481.6 million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	11.8%
2032 Value Projection:	USD 1.34 Billion
Historical Data for:	2019 to 2023
No. of Pages:	205
Tables, Charts & Figures:	232
Segments covered:	Capacity, Temperature, Application
Growth Drivers:	Growing emphasis toward energy efficient heating systems Encouraging regulatory framework to mitigate carbon emissions Shifting focus toward the deployment of low carbon technologies Increasing demand for heating systems
Pitfalls & Challenges:	High initial implementation cost coupled with availability of conventional technologies

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

North America commercial heat pump water heater industry size reached USD 481.6 million in 2023 and may record over USD 1.34 billion by 2032 due to the growing concerns pertaining to harmful greenhouse gas emissions in the region.

Demand for ?140°F temperature commercial heat pump water heaters in North America is anticipated to observe 12% CAGR from 2023-2032 due to growing consumer interest in sustainable & green technologies and stringent government focus to limit carbon emissions.

U.S. commercial heat pump water heater industry size reached over USD 365.8 million in 2022 due to the positive outlook towards various low carbon alternatives coupled with the encouraging regulatory policies for heat pump systems in the nation.

Some of the influential North America commercial heat pump water heater market players are A. O. Smith, Lochinvar, Rheem Manufacturing Company, Trane, Hubbell Heaters, Nyle Systems, Bradford White Corporation, INTELLIHOT, Colmac Industries, and Daikin Industries, among others.