Home > Industrial Machinery > HVAC > Heat Pumps > North America Residential Ducted Heat Pump Market

North America Residential Ducted Heat Pump Market Trends

Report ID: GMI9465
Published Date: May 2024
Report Format: PDF

Download Free Sample

North America Residential Ducted Heat Pump Market Trends

North America residential ducted heat pump industry is set to grow owing to increasing demand for energy-efficient systems, rapid urbanization and construction of residential establishments. Policymakers are prioritizing energy efficiency, efforts to achieve fossil fuel independence are prompting regulators to implement strategic reforms and introduction of favorable incentive schemes will further influence the industry landscape. For instance, in January 2023, the U.S. Federal government enacted the High-Efficiency Electric Homes and Rebates Act, earmarking USD 4.5 billion for state-level point-of-sale rebates. The initiative targets aiding low and moderate-income households with home electrification projects. Qualified households stand to receive rebates of up to USD 8,000 for energy-efficient upgrades in heat pump space heating and cooling.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size of North America residential ducted heat pump was reached USD 2.7 billion in 2023 and is projected to expand at 7.3% CAGR from 2024 to 2032, led by the growing adoption of energy-efficient heating & cooling systems in the region.

The single-family application segment in the North America residential ducted heat pump industry will reach more than USD 2.5 billion by 2032, owing to their zoning and temperature control and improved product aesthetics.

U.S. residential ducted heat pump industry is estimated to be worth more than USD 5 billion by 2032, due to the surge in urban population, increasing investments across real estate and the rising demand for effective heating & cooling solutions in the region.

American Standard Heating and Air Conditioning, Bosch Thermotechnology Corp., Carrier, Daikin Comfort Technologies North America, Inc., FUJITSU GENERAL, Johnson Controls, LG Electronics U.S.A., Inc., Lennox International Inc., Mitsubishi Electric Sales Canada Inc., and MRCOOL, among others