The rising demand for efficient space heating & cooling technologies along with significant initiatives by the government toward the deployment of efficient and reliable technologies. In addition, the increasing investment toward the expansion of real estate sector along with stringent regulatory mandates toward reducing the carbon emissions have accelerated the demand for heat pump systems which will further stimulate the heat pump market landscape.
Authors:
Ankit Gupta, Divyendu Sharma
Frequently Asked Questions (FAQ) :
The market size of reversible heat pump was worth over USD 10.9 billion in 2023 and is set to grow at 15.5% CAGR through 2032, fuelled by rising population, urbanization, and advancements in sustainable building infrastructure.
Reversible air source heat pump market is projected to cross USD 39 billion by 2032, owing to the rising living standards of the population along with the upsurging demand for efficient and compact heating & cooling technologies.
Europe reversible heat pump market is projected to reach over USD 29 billion by 2032, with stakeholders and agencies working together on R&D to boost efficiency and expand applications.
Carrier, Clivet S.p.A., DAIKIN INDUSTRIES Ltd., Glen Dimplex Group, Guangzhou SPRSUN New Energy Technology Development Co., Ltd., HITEMA INTERNATIONAL S.R.L, HOVAL, Johnson Controls, Keyter Technologies, S.L., Mitsubishi Electric Corporation, Panasonic Corporation, Rhoss Deutschland GmbH, Swegon Group AB, Systemair AB, Trane, and Yanmar.
