Home > Industrial Machinery > HVAC > Compressor > Reciprocating Heat Pump Compressors Market

Reciprocating Heat Pump Compressors Market Trends

Report ID: GMI5750
Published Date: Oct 2024
Report Format: PDF

Download Free Sample

Reciprocating Heat Pump Compressors Market Trends

The reciprocating heat pump compressors industry is experiencing growth owing to increasing demand for energy-efficient heating and cooling solutions across various sectors along with expansion of the construction industry and focus on reducing emissions. Rising heat pump installations backed by government policies, supportive regulations, financial incentives, and grants aimed at promoting energy-efficient technologies are expected to stimulate industry growth.

For instance, in May 2024, the Danish Energy Agency implemented new subsidy program to promote the adoption of residential heat pumps, offering grants exceeding USD 4,000 for liquid-to-water HP systems and USD 2,500 for air-to-water heat pumps. Implementation of strict environmental standards and ongoing R&D investments in heat pump technology will complement the industry growth.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The global market for reciprocating heat pump compressors was reached USD 4.7 billion in 2023 and is set to grow at a CAGR of 12.3% from 2024 to 2032, driven by the growing demand for effective cooling and heating solutions.

The air source segment is projected to exceed USD 12.5 billion by 2032, propelled by the rising demand for reliable and efficient heating, cooling, and hot water systems.

The U.S. market for reciprocating heat pump compressors is predicted to hit USD 1.5 billion by 2032, led by increasing demand for efficient space heating and cooling solutions and supportive government policies.

Key industry players include BITZER, Carrier, CAREL Industries, Copeland, Daikin, Danfoss, Frascold, GEA Group, Johnson Controls, M&M Carnot, Mayekawa, Midea Group, Secop, SRM Italy, and Tecumseh.