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Residential Air to Water Heat Pump Market Trends

Report ID: GMI5828
Published Date: Aug 2024
Report Format: PDF

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Residential Air to Water Heat Pump Market Trends

The residential air to water heat pump industry is projected to achieve substantial expansion on account of the rising demand for energy-efficient space and water heating technologies. In addition, the ongoing R&D efforts from both public & private entities, aimed at introducing cutting-edge systems will further shape the industry dynamics. The new model works on R290 refrigerant with a cooling capacity between 4 to 16 kW along with a COP value between 2.75 to 5.3 and can be combined with PV or solar thermal systems.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of residential air to water heat pump was worth over USD 22.8 billion in 2023 and is set to register 16.4% CAGR through 2032, driven by the rising demand for efficient space heating technologies primarily across regions with cold climates.

The residential domestic hot water heat pump market will surpass USD 45 billion by 2032, backed by the increasing need for hot water in residential settings and a growing preference for energy-efficient solutions.

APAC residential air to water heat pump industry size may exceed USD 40 billion by 2032, driven by surging population and the expanding footprint of residential buildings in both urban and suburban settings

Daikin, Mitsubishi Electric Corporation, Panasonic Corporation, Carrier, JOHNSON CONTROLS - HITACHI AIR CONDITIONING COMPANY, Maritime Geothermal, Glen Dimplex Group, Vaillant Group, SAMSUNG, STIEBEL ELTRON GmbH & Co. KG, Lochinvar, WOLF, FUJITSU GENERAL, NIBE Industrier AB, Midea, and LG Electronics are among the top firms operating in the market.