Residential Ducted Heat Pump Market Analysis

Residential Ducted Heat Pump Market Analysis

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Based on the application, the residential ducted heat pump market from single-family application segment is expected to grow at 8.8% CAGR through 2032. The acceptance of ducted heat pumps across single-family or single-owner houses is influenced by zoning, temperature control features, and the growing emphasis on product aesthetics. Introduction of schemes by respective authorities and firms to accelerate the adoption of these units will influence the product deployment.
 

For instance, In May 2023, Vermont Gas initiated a new program aimed at installing heat pumps in the customer houses, thereby extending low-carbon residential heating & cooling alternatives across the nation. The program is centered around the concept of centrally ducted heat pumps, utilizing existing ductwork within homes and taking advantage of a favorable market scenario in the country. Moreover, rising income levels of consumer along with shifting preference toward elevated comfort levels is set to augment the residential ducted heat pump market size.
 

The market for multi-family application segment is anticipated to witness significant momentum in 2032, and this growth is attributed to the rising demand for energy-efficient and environmentally friendly solutions, coupled with the expansion of the real estate sector. The increasing acknowledgment of the benefits provided by these systems, especially in addressing the heating and cooling requirements of individual units within multi-family houses and apartments, will positively influence the business dynamics. The escalating demand for zonal heating and cooling control, combined with increasing awareness regarding the environmental concerns is set to drive the installation of ducted heat pumps in multifamily establishments.
 

• The North America residential ducted heat pump market size dominated around USD 2.7 billion in 2023. The robust expansion of residential establishments, accelerating investments and expenditure across the real estate sector and growing demand for efficient and reliable heating & cooling solutions is positively influencing the business outlook. Introduction of beneficial government schemes, tax benefits and subsidy programmes by the respective authorities for accelerating the deployment of heat pumps will further augment the product deployment.
   

For instance, commenced in 2023 and extending until the close of 2032, the Heat Pump Federal Tax Credit was introduced, allowing all homeowners to qualify for a 30% federal tax credit covering the entire expenditure associated with the purchase and installation of their new heat pump. This incentive, capped at a maximum credit of USD 2,000, is a key provision under the High-Efficiency Electric Home Rebate Act, a component of the Inflation Reduction Act applicable throughout the U.S.
 

• Shifting emphasis on the digitalization and introduction of advance heat pump technologies is set to influence the business outlook. These systems are recognized for their environmental friendliness as they employ electricity for heat transfer instead of directly burning fossil fuels. This approach leads to a reduction in greenhouse gas emissions, making a significant contribution to the fight against climate change. With a growing emphasis on environmental sustainability across the region, heat pumps are gaining popularity as more eco-friendly alternate for conventional heating and cooling systems.