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Scroll Heat Pump Compressors Market Size – By Application (Air Source, Ground Source, Water Source), Regional Outlook & Growth Forecast, 2024 - 2032
Report ID: GMI5804
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Published Date: August 2024
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 26
Countries covered: 24
Pages: 75
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Scroll Heat Pump Compressors Market Size
Scroll Heat Pump Compressors Market was valued at above USD 5.8 billion in 2023 and is anticipated to grow at a CAGR of 16.1% from 2024 to 2032. Rising demand for reliable heating & cooling solutions along with increasing adoption of energy efficient systems across residential and commercial establishments have positively influenced the industry outlook.
Ongoing replacement of traditional heating systems to curb emissions along with favorable initiatives and schemes by the respective authorities toward heat pump deployment will augment the product deployment. For instance, in February 2024, nine states in U.S. signed a MOU to increase sales of heat pumps and set target of 65% of residential heat pump units sales by 2030 to meet heating, cooling & hot water demands.
Scroll Heat Pump Compressors Market Trends
The scroll heat pump compressors industry is set to grow owing to rising adoption of heat pump units over traditional heating systems along with shifting focus on energy efficiency and limiting emissions. Favorable initiatives by the authorities toward replacement of traditional heating systems along with growing inclination toward enhancing the building infrastructure will augment the industry landscape.
Scroll Heat Pump Compressors Market Analysis
Air source segment is anticipated to surpass USD 21 billion by 2032. Growing emphasis toward energy efficiency that led consumers across residential, commercial and industrial sectors to adopt HVAC systems and reducing energy consumption has complemented the business outlook. Ongoing technological advancements such as introduction of variable speed compressors, to improve efficiency and performance of air source heat pump systems, further accelerating the product demand. Manufacturers are continuously improving the efficiency and performance of scroll compressors, making them more attractive to end-users and HVAC system designers stimulating the air source heat pump compressor industry dynamics.
Ground source heat pumps with scroll compressors is anticipated to witnessed increased demand owing to increasing focus toward reducing the carbon emissions along with rising adoption of these systems across residential and commercial applications to offer ambient space heating and cooling. Favorable grants by the authorities across various geographies toward deployment of these units will accelerate the product deployment. Ongoing advancements in technology to introduce more efficient heating and cooling systems coupled with a paradigm shift from traditional heating systems to reduce carbon emissions, is shaping the business landscape.
Water source heat pump systems are anticipated for a significant growth driven by increased awareness of HVAC systems' energy consumption and shifting focus to curb greenhouse gas emissions. Building owners and managers now prioritize integrating WSHPs with building automation systems, enabling superior HVAC control and enhanced energy efficiency. Manufacturers are channeling efforts into R&D, introducing technological innovations including variable speed scroll compressors, smart controls and inverter technology, further enhancing the product deployment.
Europe scroll heat pump compressors market is set to cross USD 11 billion by 2032. Rising demand for reliable & efficient space heating, cooling & hot water systems, growing urbanization, and varying climatic conditions have led to the expanding heat pump adoption, thereby positively stimulating the Europe scroll heat pump compressor industry dynamics. Favorable measures to by the authorities for encouraging adoption of energy-efficient systems and technologies, along with manufacturers focus on introducing enhanced technologies will augment the industry landscape.
Scroll Heat Pump Compressors Market Share
Major key players in the scroll heat pump compressors industry are aiming toward introducing new technologies, product launches, making strategic alliances, partnerships, pursuing mergers & acquisitions, to enhance their competitive edge over the others. Major companies including Danfoss, Daikin, LG Electronics, Copeland LP, Panasonic Industry and Midea Group Co., Ltd. among others holds majority share of the market.
Scroll Heat Pump Compressors Market Companies
Major manufacturers operating across the industry consists of:
Scroll Heat Pump Compressors Industry News
This scroll heat pump compressors market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2021 to 2032 for the following segments:
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Market, By Application
The above information has been provided for the following regions and countries: