Market research reports, consulting: Global Market Insights Inc.

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Variable Speed Heat Pump Water Heater Market Analysis

Report ID: GMI11261 Published Date: September 2024Report Format: PDF
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Variable Speed Heat Pump Water Heater Market Analysis

Variable Speed Heat Pump Water Heater Market, By Application, 2022 – 2032 (USD Billion)

Based on application, the industry can be broadly trifurcated into residential, commercial, and industrial segments. Residential sector is projected to surpass USD 18 billion by 2032 owing to the increasing demand for energy-efficient and environmentally friendly water heating solutions. Advent of new technological innovations with manufacturers developing advanced water heaters offering improved efficiency, faster heating times, and greater reliability will further sway the industry size. For instance, in May 2024, Germany based ait-group introduced a new range of air to water heat pump called Hybrox with propane refrigerant primarily designed for large homes and multi-family buildings. Additionally, the lineup is available in 11 & 16 kW to serve heating, cooling and domestic hot water (DHW) requirements across new & renovated buildings.

Asia Pacific Variable Speed Heat Pump Water Heater Market Size, 2022 - 2032 (USD Billion)

The Asia Pacific variable speed heat pump water heater is anticipated to cross USD 14 billion through 2032. The industry is witnessing significant growth propelled by a combination of rapid urbanization, rising disposable incomes, and expanding residential construction. Moreover, continuous R&D initiatives to boost technological advancements along with increasing consumer awareness favoring advanced systems with enhanced energy efficiency will boost the residential heat pump industry size. For instance, in March 2024, Chinese heat pump manufacturer called Guangzhou Sprsun New Energy Technology Development Co., Ltd. unveiled R290 DC inverter air source heat pump unit designed for cooling, heating, and DHW operations. Additionally, the product has a peak heating capacity of 9.1 kW with low noise operation to deliver a coefficient of performance (COP) rating of 4.2 at 7 °C.

Author: Ankit Gupta, Divyendu Sharma
Frequently Asked Question(FAQ) :

What is the size of the variable speed heat pump water heater market?+

The variable speed heat pump water heater industry was valued at USD 9.1 billion in 2023 and will display a 9% CAGR through 2032, stimulated by technological advancements, increasing environmental awareness, and evolving regulatory frameworks.

What is the value of Asia Pacific variable speed heat pump water heater industry?+

Asia Pacific variable speed heat pump water heater will cross USD 14 billion by 2032, propelled by rapid urbanization, rising disposable incomes, and expanding residential construction.

Why is the adoption of residential variable speed heat pump water heaters rising?+

The residential sector is projected to surpass USD 18 billion by 2032 due to the increasing demand for energy-efficient and environmentally friendly water heating solutions.

Who are the major variable speed heat pump water heater market players?+

Advantix S.p.A., Ariston Holding N.V., DAIKIN INDUSTRIES, Ltd., Guangzhou Sprsun New Energy Technology Development Co., Ltd., and Glen Dimplex Group., among others.

Variable Speed Heat Pump Water Heater Market Scope

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