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North America residential air-to-water heat pump industry is set to witness significant growth driven by a rising population, ongoing expansion of residential infrastructure and increasing demand for reliable heating & hot water solutions. Government initiatives, including tax credits and rebates for both corporations and individuals, as well as incentive plans and clean heating programs, will boost the industry landscape.
The single-family segment is anticipated to grow over USD 2.8 Billion by 2032, augmented by rising population, growing urbanization have led to increasing development of housing infrastructure.
U.S. residential air to water heat pump market is set to cross USD 4 billion by 2032, driven by growing demand for hot water and a paradigm shift toward more enhanced systems.
North America market for residential air to water heat pump was worth over USD 900 million in 2023 and will register an 18.1% CAGR between 2024 and 2032, driven by increasing demand for energy-efficient and dependable hot water and heating systems in residential settings.
Chiltrix Inc., Glen Dimplex Group, LG Electronics, NIBE Industrier AB, Nordic Heat Pumps, Polar Heat Pumps, and SpacePak, among others.