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Residential Air Source Heat Pump Market Share
The residential air source heat pump industry is propelled by intense competition owing to the combination of growing demand for energy-efficient home heating and cooling solutions and rapid technological advancements. The residential heat pump industry is shaped by various global & regional players including Daikin, Mitsubishi Electric, Panasonic, and LG Electronics, expanding their product reach with extensive distribution networks and established product portfolios.
Residential Air Source Heat Pump Market Companies
Major manufacturers working across the industry consist of:
- AERMEC S.P.A.
- Bosch Thermotechnology Ltd.
- Clivet S.p.A.
- Daikin
- FUJITSU GENERAL
- JOHNSON CONTROLS - HITACHI AIR CONDITIONING COMPANY
- Lennox International Inc.
- LG Electronics
- Midea
- Mitsubishi Electric Corporation
- Panasonic Corporation
- SAMSUNG
- Trane Technologies International Limited
- Vaillant Group
- Viessmann
- WOLF
How big is the residential air source heat pump market?
The market size of residential air source heat pump was worth over USD 37.1 billion in 2023 and is anticipated to register 14.2% CAGR between 2024 and 2032, driven by the increasing technological advancements, environmental concerns, and supportive government policies.
Why is the use of residential air to water heat pump rising?
The air to water segment in the residential air source heat pump market is projected to reach USD 89 billion by 2032, due to the rising demand for hot water in residential environments and strong shift toward energy-efficient solutions.
Why is the residential air source heat pump industry booming in Asia Pacific?
Asia Pacific residential air source heat pump market is expected to cross USD 49 billion by 2032, driven by economic expansion, rapid urbanization, and growing construction expenditures.
Who are the major residential air source heat pump industry players?
AERMEC S.P.A., Bosch Thermotechnology Ltd., Clivet S.p.A., Daikin, FUJITSU GENERAL, JOHNSON CONTROLS - HITACHI AIR CONDITIONING COMPANY, Lennox International Inc., LG Electronics, and Midea, among others.