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Rotary Heat Pump Compressors Market Size

Report ID: GMI7615
Published Date: Dec 2023
Report Format: PDF

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Rotary Heat Pump Compressors Market Size

The global rotary heat pump compressors market was valued at USD 1.7 billion in 2023 and is set to grow at CAGR of 13.8% from 2024 to 2032. Increasing demand for efficient heating and cooling solutions, supportive government policies, and a shift towards energy-efficient technologies complementing the industry landscape. Ongoing replacement of traditional heating and cooling systems with more environmentally friendly solutions to reduce carbon emissions across various applications will augment the product deployment.

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Implementation of favorable policies by respective authorities toward adoption of heat pump systems across various geographies will positively influence the business dynamics. For instance, in May 2024, the Department of Energy issued new standards for large commercial air conditioners and heat pumps. These updated rules, aim to improve energy conservation in line with legal requirements.

Rotary Heat Pump Compressors Market Report Attributes
Report Attribute	Details
Base Year:	2023
Rotary Heat Pump Compressors Market Size in 2023:	USD 1.7 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	13.8%
2024 – 2032 Value Projection:	USD 5.6 Billion
Historical Data for:	2021-2023
No. of Pages:	255
Tables, Charts & Figures:	32
Segments covered:	Product and Region
Growth Drivers:	Rising demand for renewable space heating & cooling technologies Favorable regulatory environment for the deployment of energy efficient technologies Introduction of beneficial incentive programmes for heat pump deployment
Pitfalls & Challenges:	Prevalence of alternative compressor technologies

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The global market for rotary heat pump compressors was reached USD 1.7 billion in 2023 and is set to grow at a CAGR of 13.8% from 2024 to 2032, driven by increasing demand for efficient heating and cooling solutions.

The air source segment is projected to exceed USD 5 billion by 2032, fueled by the growing need for reliable and efficient heating, cooling, and hot water systems in residential and commercial sectors.

The U.S. market for rotary heat pump compressors is anticipated to surpass USD 750 million by 2032, led by rising demand for reliable cooling and heating systems and favorable policies promoting energy-efficient technologies.

Key companies actively participating in the industry include Carel Industries, Carrier, Daikin, Danfoss, Glen Refrigeration, Johnson Controls, LG Electronics, Midea Group, Mayekawa, Panasonic Industry, Rechi Precision, Samsung, Secop, Siam Compressor Industry, and Tecumseh Products.