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North America Residential Cold Climate Heat Pump Market Share

Report ID: GMI6190
Published Date: Dec 2024
Report Format: PDF

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North America Residential Cold Climate Heat Pump Market Share

Manufacturers in the market, both small and large, are concentrating on introducing advanced technologies to meet consumer demands. Ongoing strategic initiatives from industry players including expanding manufacturing facilities, forming partnerships and collaborations, and pursuing acquisitions will play a crucial role in shaping the North America residential heat pump industry landscape.

North America Residential Cold Climate Heat Pump Market Companies

Major players operating across the industry include:

Bard
Blue Star
Bosch
Carrier
Daikin
Fujitsu
Gree
Klimaire
LG
MrCool
Nordic Heat Pumps
Panasonic
Rheem
Samsung
Trane

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The North American residential cold climate heat pump industry was valued at over USD 3 billion in 2024 and is projected to grow at a 9.8% CAGR from 2025 to 2034, driven by the increasing need for energy-efficient heating in colder areas and efforts to reduce greenhouse gas emissions.

The ducted segment is anticipated to surpass USD 6 billion by 2034, fueled by rapid growth in residential construction, urbanization, lower operating costs, reduced maintenance requirements, decreased emissions, and extended equipment lifespan.

The U.S. market is set to exceed USD 7 billion by 2034, supported by an increasing population, a rising number of residential buildings, and the growing adoption of energy-efficient systems.

Major players in the industry include Bard, Blue Star, Bosch, Carrier, Daikin, Fujitsu, Gree, Klimaire, LG, MrCool, Nordic Heat Pumps, and Panasonic.