Heat Pump Market by Technology (Air-to-Air, Air-to-Water, Water Source, Geothermal, Hybrid, PVT), Refrigerant (R410A, R407C, R744, R290, R717), Type (Reversible, Non-reversible), Rated Capacity, End User, Application and Region - Global Forecast to 2029
The global Heat Pump market is estimated to grow from USD 90.1 billion in 2024 to USD 157.8 billion by 2029; it is expected to record a CAGR of 11.8% during the forecast period. Heat pumps can be integrated with renewable energy sources such as solar and wind power, enabling more sustainable and eco-friendly heating and cooling solutions, which align with the global trend towards renewable energy adoption.
“Air-to-water Heat Pumps”: The second largest segment of the Heat Pump market, by technology “
Based on technology, the Heat Pump market has been segmented into Air-to-Air Heat Pumps, Air-to-Water Heat Pumps, Water Source Heat Pumps, Ground-Source (Geothermal) Heat Pumps, Hybrid Heat Pumps, and Photovoltaic-Thermal (PVT) heat pumps. The Air-to-Water heat Pumps are expected to be the second largest segment during the forecast period. The utilization of air-to-water heat pumps has transcended their traditional residential applications, with exponential growth observed across diverse sectors including commercial buildings, industrial facilities, and recreational venues such as swimming pools. This broader adoption signifies a paradigm shift in heating and cooling solutions, where air-to-water heat pumps emerge as versatile and efficient alternatives.
“By type, the Reversible Heat Pump segment is expected to be the second fastest growing segment during the forecast period.”
Based on type, the Heat Pump market is segmented into Reversible Heat Pumps, and Non-Reversible Heat Pumps. The Reversible Heat Pump segment is expected to be the second fastest-growing segment of the heat pump market during the forecast period. One of the standout features of reversible heat pumps is their remarkable coefficient of performance (COP), which quantifies their efficiency in converting energy input into heating or cooling output. Reversible heat pumps typically boast COP values ranging from 3 to 5, meaning they can provide up to 300% to 500% more heating or cooling power than the energy consumed. This outstanding efficiency not only translates into substantial energy savings but also leads to significant cost reductions for homeowners and businesses over the long term.
“By Refrigerant, R410A segment is expected to be the fastest growing segment during the forecast period.”
Based on the Refrigerant, the Heat Pump market is segmented into R410A, R407C, R744, R290, R717, and Other Refrigerants. The R410A segment is expected to be the fastest-growing segment of the heat pump market during the forecast period. Industrial applications of R410A heat pumps encompass a wide range of sectors, including food processing, pharmaceuticals, and manufacturing, where precise temperature control is critical for maintaining product quality, ensuring process efficiency, and adhering to regulatory standards. In the food processing industry, R410A heat pumps are utilized for tasks such as refrigeration, freezing, and temperature-controlled storage to preserve the freshness and safety of perishable goods. These heat pumps offer reliable and energy-efficient cooling solutions that help prevent food spoilage, extend shelf life, and meet stringent food safety regulations.
“10-20 kW”: The second largest segment of the Heat Pump market, by Rated Capacity “
Based on Rated Capacity, the Heat Pump market has been segmented into Up to 10 kW, 10–20 kW, 20–30 kW, and ABOVE 30 kW. The 10-20 kW segment is expected to be the second largest segment during the forecast period. Consumers demand heating solutions that can operate consistently and dependably, especially during harsh weather conditions. Advanced engineering and manufacturing processes ensure that modern 10-20 kW heat pumps are built to withstand the rigors of frequent use and varying environmental stresses. This increased reliability reduces the likelihood of breakdowns or malfunctions, providing peace of mind to consumers.
“Europe is expected to be the fastest growing region in the Heat Pump market.”
Europe is expected to be the Fastest growing region in the Heat Pump market during the forecast period. Heat pumps, which extract heat from the environment using electricity, offer significantly lower operating costs, especially when paired with renewable energy sources like solar power. Additionally, concerns regarding energy security and the drive to achieve ambitious climate goals further solidify the appeal of heat pumps. As European countries strive to reduce their reliance on imported fossil fuels and transition to cleaner energy sources, heat pumps present a viable and efficient solution. With government incentives, technological advancements, and growing awareness of environmental benefits, the future of heating in Europe seems increasingly electrified and sustainable, with heat pumps leading the charge.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2- 25%, and Tier 3- 15%
By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
By Region: Americas- 13%, Europe- 16%, Asia Pacific- 56%, Middle East & Africa – 15%
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The Heat Pump market is dominated by a few major players that have a wide regional presence. The leading players in the Heat Pump market are SAMSUNG (South Korea), DENSO CORPORATION (Japan), Midea (China), Panasonic Holdings Corporation (Japan), and Mitsubishi Electric Corporation (Japan) . The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.
Research Coverage:
The report defines, describes, and forecasts the global Heat Pump market by, by Technology, Type, Refrigerant, Rated Capacity, End User, Application, and Region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the Heat Pump market.
Key Benefits of Buying the Report
“Air-to-water Heat Pumps”: The second largest segment of the Heat Pump market, by technology “
Based on technology, the Heat Pump market has been segmented into Air-to-Air Heat Pumps, Air-to-Water Heat Pumps, Water Source Heat Pumps, Ground-Source (Geothermal) Heat Pumps, Hybrid Heat Pumps, and Photovoltaic-Thermal (PVT) heat pumps. The Air-to-Water heat Pumps are expected to be the second largest segment during the forecast period. The utilization of air-to-water heat pumps has transcended their traditional residential applications, with exponential growth observed across diverse sectors including commercial buildings, industrial facilities, and recreational venues such as swimming pools. This broader adoption signifies a paradigm shift in heating and cooling solutions, where air-to-water heat pumps emerge as versatile and efficient alternatives.
“By type, the Reversible Heat Pump segment is expected to be the second fastest growing segment during the forecast period.”
Based on type, the Heat Pump market is segmented into Reversible Heat Pumps, and Non-Reversible Heat Pumps. The Reversible Heat Pump segment is expected to be the second fastest-growing segment of the heat pump market during the forecast period. One of the standout features of reversible heat pumps is their remarkable coefficient of performance (COP), which quantifies their efficiency in converting energy input into heating or cooling output. Reversible heat pumps typically boast COP values ranging from 3 to 5, meaning they can provide up to 300% to 500% more heating or cooling power than the energy consumed. This outstanding efficiency not only translates into substantial energy savings but also leads to significant cost reductions for homeowners and businesses over the long term.
“By Refrigerant, R410A segment is expected to be the fastest growing segment during the forecast period.”
Based on the Refrigerant, the Heat Pump market is segmented into R410A, R407C, R744, R290, R717, and Other Refrigerants. The R410A segment is expected to be the fastest-growing segment of the heat pump market during the forecast period. Industrial applications of R410A heat pumps encompass a wide range of sectors, including food processing, pharmaceuticals, and manufacturing, where precise temperature control is critical for maintaining product quality, ensuring process efficiency, and adhering to regulatory standards. In the food processing industry, R410A heat pumps are utilized for tasks such as refrigeration, freezing, and temperature-controlled storage to preserve the freshness and safety of perishable goods. These heat pumps offer reliable and energy-efficient cooling solutions that help prevent food spoilage, extend shelf life, and meet stringent food safety regulations.
“10-20 kW”: The second largest segment of the Heat Pump market, by Rated Capacity “
Based on Rated Capacity, the Heat Pump market has been segmented into Up to 10 kW, 10–20 kW, 20–30 kW, and ABOVE 30 kW. The 10-20 kW segment is expected to be the second largest segment during the forecast period. Consumers demand heating solutions that can operate consistently and dependably, especially during harsh weather conditions. Advanced engineering and manufacturing processes ensure that modern 10-20 kW heat pumps are built to withstand the rigors of frequent use and varying environmental stresses. This increased reliability reduces the likelihood of breakdowns or malfunctions, providing peace of mind to consumers.
“Europe is expected to be the fastest growing region in the Heat Pump market.”
Europe is expected to be the Fastest growing region in the Heat Pump market during the forecast period. Heat pumps, which extract heat from the environment using electricity, offer significantly lower operating costs, especially when paired with renewable energy sources like solar power. Additionally, concerns regarding energy security and the drive to achieve ambitious climate goals further solidify the appeal of heat pumps. As European countries strive to reduce their reliance on imported fossil fuels and transition to cleaner energy sources, heat pumps present a viable and efficient solution. With government incentives, technological advancements, and growing awareness of environmental benefits, the future of heating in Europe seems increasingly electrified and sustainable, with heat pumps leading the charge.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2- 25%, and Tier 3- 15%
By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
By Region: Americas- 13%, Europe- 16%, Asia Pacific- 56%, Middle East & Africa – 15%
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The Heat Pump market is dominated by a few major players that have a wide regional presence. The leading players in the Heat Pump market are SAMSUNG (South Korea), DENSO CORPORATION (Japan), Midea (China), Panasonic Holdings Corporation (Japan), and Mitsubishi Electric Corporation (Japan) . The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.
Research Coverage:
The report defines, describes, and forecasts the global Heat Pump market by, by Technology, Type, Refrigerant, Rated Capacity, End User, Application, and Region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the Heat Pump market.
Key Benefits of Buying the Report
- Government initiatives at the national and international levels amplify the impact of investment on the Heat Pump market. Robust policy frameworks, often accompanied by financial incentives, subsidies, and regulatory support, encourage widespread adoption of Heat Pump. Factors such as high initial cost and lack of infrastructure restrain the growth of the market. The growing energy transition towards renewable energy sources and rapid urbanization are expected to present lucrative opportunities for the players operating in the Heat Pump market.
- Product Development/ Innovation: The Heat Pump market is witnessing significant product development and innovation, driven by the growing demand for environmentally friendly, safe and sustainable products. Companies are investing in developing advanced Heat Pump technologies for various applications.
- Market Development: SAMSUNG has announced its partnership with Etopia, a UK-based smart building company, to deploy heat pumps in the residential sector in the UK. SAMSUNG will deploy 6,000 TDS plus heat pumps as part of the five-year smart home project in the UK.
- Market Diversification: Panasonic Holdings Corporation announced that it would invest about USD 150 million in its Czech Plant by the Fiscal Year ending in March 2026 to strengthen the production of air-to-water heat pumps (A2W), which have been experiencing growing demand in Europe.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include SAMSUNG (South Korea), DENSO CORPORATION (Japan), Midea (China), Panasonic Holdings Corporation (Japan), and Mitsubishi Electric Corporation (Japan), among others in the Heat Pump market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.3.5 UNITS CONSIDERED
1.4 LIMITATIONS
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.7 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 HEAT PUMP MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION
2.3 PRIMARY AND SECONDARY RESEARCH
2.3.1 SECONDARY DATA
TABLE 1 LIST OF MAJOR SECONDARY SOURCES
2.3.1.1 Key secondary sources
2.3.2 PRIMARY DATA
TABLE 2 LIST OF PRIMARY INTERVIEW PARTICIPANTS
2.3.2.1 Key industry insights
2.3.2.2 Breakdown of primaries
FIGURE 3 BREAKDOWN OF PRIMARIES: BY COMPANY TYPE, DESIGNATION, AND REGION
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
FIGURE 4 HEAT PUMP MARKET: BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
FIGURE 5 HEAT PUMP MARKET: TOP-DOWN APPROACH
2.5 DEMAND-SIDE ANALYSIS
2.5.1 DEMAND-SIDE METRICS
FIGURE 6 METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR HEAT PUMPS
2.5.1.1 Assumptions for demand-side analysis
2.5.1.2 Calculations for demand-side analysis
2.6 SUPPLY-SIDE ANALYSIS
2.6.1 SUPPLY-SIDE METRICS
FIGURE 7 KEY FACTORS CONSIDERED TO ASSESS SUPPLY OF HEAT PUMPS
FIGURE 8 HEAT PUMP MARKET: SUPPLY-SIDE ANALYSIS
2.6.1.1 Calculations for supply-side analysis
2.6.1.2 Assumptions for supply-side analysis
2.7 FORECAST
2.8 RISK ASSESSMENT
2.9 RECESSION IMPACT
3 EXECUTIVE SUMMARY
TABLE 3 HEAT PUMP MARKET SNAPSHOT
FIGURE 9 ASIA PACIFIC HELD LARGEST SHARE OF HEAT PUMP MARKET IN 2023
FIGURE 10 AIR-TO-AIR HEAT PUMPS SEGMENT TO LEAD HEAT PUMP MARKET IN 2029
FIGURE 11 NON-REVERSIBLE HEAT PUMPS SEGMENT TO HOLD LARGER SHARE OF HEAT PUMP MARKET IN 2029
FIGURE 12 R410A SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
FIGURE 13 UP TO 10 KW SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
FIGURE 14 RESIDENTIAL SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
FIGURE 15 DISTRICT AND SPACE HEATING SEGMENT TO DOMINATE HEAT PUMP MARKET BY HEATING APPLICATION IN 2029
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HEAT PUMP MARKET
FIGURE 16 INTEGRATION OF INTERNET OF THINGS (IOT) TECHNOLOGY INTO HEAT PUMPS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS
4.2 HEAT PUMP MARKET, BY REGION
FIGURE 17 EUROPEAN HEAT PUMP MARKET TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
4.3 HEAT PUMP MARKET, BY TECHNOLOGY
FIGURE 18 AIR-TO-AIR HEAT PUMPS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029
4.4 HEAT PUMP MARKET, BY TYPE
FIGURE 19 NON-REVERSIBLE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2029
4.5 HEAT PUMP MARKET, BY REFRIGERANT
FIGURE 20 R410A SEGMENT TO HOLD LARGER MARKET SHARE IN 2029
4.6 HEAT PUMP MARKET, BY RATED CAPACITY
FIGURE 21 UP TO 10 KW SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
4.7 HEAT PUMP MARKET, BY END USER
FIGURE 22 RESIDENTIAL SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
4.8 HEAT PUMP MARKET, BY APPLICATION
FIGURE 23 HEATING SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 24 HEAT PUMP MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Growing use of heat pumps beyond traditional heating and cooling applications
5.2.1.2 Capability of heat pumps to be integrated with renewable energy systems
5.2.1.3 Implementation of government policies and initiatives to promote use of energy-efficient heating and cooling systems
5.2.2 RESTRAINTS
5.2.2.1 Difficulties in installation and unaesthetic appearance
5.2.2.2 Limited public awareness regarding benefits of heat pumps and lack of knowledge about heat pump standards among contractors
5.2.3 OPPORTUNITIES
5.2.3.1 High focus of manufacturers on integrating IoT, ML, and AI technologies into heat pumps
TABLE 4 BENEFITS OF SMART THERMOSTATS OFFERED BY KEY PLAYERS
5.2.3.2 Positive outlook toward use of geothermal energy
5.2.3.3 Increased sales of heat pumps in Europe
FIGURE 25 ANNUAL SALES GROWTH OF HEAT PUMPS WORLDWIDE AND SELECTED MARKETS BETWEEN 2021 AND 2022
5.2.4 CHALLENGES
5.2.4.1 Dependency on energy source for heat pump efficiency
5.2.4.2 High installation cost
TABLE 5 AVERAGE HEAT PUMP INSTALLATION COST, BY TYPE (USD)
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 26 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE TREND OF HEAT PUMPS, BY REGION
TABLE 6 INDICATIVE PRICING ANALYSIS OF HEAT PUMPS, BY REGION, 2023–2029 (USD)
FIGURE 27 INDICATIVE PRICING TREND OF HEAT PUMPS, BY REGION, 2019–2029 (USD)
5.4.2 INDICATIVE PRICING ANALYSIS OF HEAT PUMPS, BY TECHNOLOGY
TABLE 7 INDICATIVE PRICING ANALYSIS OF HEAT PUMPS, BY TECHNOLOGY, 2023–2029 (USD)
FIGURE 28 INDICATIVE PRICING TREND OF HEAT PUMPS, BY TECHNOLOGY, 2019–2029 (USD)
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 29 HEAT PUMP MARKET: SUPPLY CHAIN ANALYSIS
5.5.1 RAW MATERIAL SUPPLIERS
5.5.2 ORIGINAL EQUIPMENT MANUFACTURERS (OEMS)
5.5.3 DISTRIBUTORS
5.5.4 END USERS
5.6 ECOSYSTEM/MARKET MAP
FIGURE 30 HEAT PUMP MARKET MAP
TABLE 8 COMPANIES AND THEIR ROLES IN HEAT PUMP ECOSYSTEM
FIGURE 31 HEAT PUMP MARKET: ECOSYSTEM MAPPING
5.7 REGULATORY LANDSCAPE
5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 LATIN AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.7.2 REGULATIONS
TABLE 14 HEAT PUMP MARKET: REGULATIONS
5.8 PATENT ANALYSIS
FIGURE 32 INNOVATIONS AND PATENT REGISTRATIONS, 2013–2023
5.8.1 LIST OF MAJOR PATENTS
TABLE 15 HEAT PUMP MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2018–2022
5.9 CASE STUDY ANALYSIS
5.9.1 CITY SUITES HOTEL INSTALLED DAIKIN VRV IV+ HEAT PUMP SYSTEM WITH INDIVIDUAL ROOM CONTROLS TO REDUCE ENERGY CONSUMPTION AND ENHANCE GUEST EXPERIENCE
5.9.1.1 Problem statement
5.9.1.2 Solution
5.9.2 INDUSTRIAL PLANT IMPLEMENTED CARRIER AQUAEDGE 19DV WATER-COOLED CHILLER WITH HEAT RECOVERY TO REVOLUTIONIZE INDUSTRIAL PROCESSES
5.9.2.1 Problem statement
5.9.2.2 Solution
5.9.3 HOTEL DEPLOYED A. O. SMITH VOLTEX HYBRID ELECTRIC HEAT PUMP WATER HEATER TO REDUCE ENERGY CONSUMPTION AND COST
5.9.3.1 Problem statement
5.9.3.2 Solution
5.10 TECHNOLOGY ANALYSIS
5.10.1 KEY TECHNOLOGIES
5.10.1.1 Photovoltaic-thermal solar-assisted heat pump systems
5.10.1.2 Hybrid heat pumps
5.10.1.3 Air-to-air heat pumps
5.10.1.4 Air-to-water heat pumps
5.10.1.5 Water-source heat pumps
5.10.1.6 Ground-source heat pumps
5.10.1.7 Solid-state heat pumps
5.10.2 COMPLEMENTARY TECHNOLOGIES
5.10.2.1 Thermal storage
5.10.2.2 Smart controls and automation technologies
5.10.3 ADJACENT TECHNOLOGIES
5.10.3.1 Heat recovery ventilation (HRV) systems
5.10.3.2 Internet of Things (IoT) devices
5.10.4 SEASONAL COEFFICIENT OF PERFORMANCE (SCOP)
TABLE 16 SCOP OF KEY PLAYERS
5.11 KEY CONFERENCES AND EVENTS, 2024
TABLE 17 HEAT PUMP MARKET: KEY CONFERENCES AND EVENTS, 2023–2024
5.12 TRADE ANALYSIS
5.12.1 EXPORT SCENARIO
TABLE 18 EXPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)
FIGURE 33 EXPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND)
5.12.2 IMPORT SCENARIO
TABLE 19 IMPORT SCENARIO FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)
FIGURE 34 IMPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND)
5.13 PORTER’S FIVE FORCES ANALYSIS
FIGURE 35 HEAT PUMP MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 20 HEAT PUMP MARKET: PORTER’S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 36 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS, BY END USER
TABLE 21 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER (%)
5.14.2 BUYING CRITERIA
FIGURE 37 KEY BUYING CRITERIA, BY END USER
TABLE 22 KEY BUYING CRITERIA, BY END USER
5.15 INVESTMENT AND FUNDING SCENARIO
FIGURE 38 INVESTMENT AND FUNDING SCENARIO
6 HEAT PUMP MARKET, BY TYPE
6.1 INTRODUCTION
FIGURE 39 HEAT PUMP MARKET, BY TYPE, 2023
TABLE 23 HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 24 HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
6.2 REVERSIBLE HEAT PUMPS
6.2.1 IMPLEMENTATION OF ENERGY EFFICIENCY REGULATIONS TO MITIGATE CLIMATE CHANGE AND PROMOTE SUSTAINABLE DEVELOPMENT TO DRIVE DEMAND
TABLE 25 REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 26 REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
6.3 NON-REVERSIBLE HEAT PUMPS
6.3.1 LOW INITIAL INSTALLATION COSTS TO DRIVE DEMAND
TABLE 27 NON-REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 28 NON-REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7 HEAT PUMP MARKET, BY TECHNOLOGY
7.1 INTRODUCTION
FIGURE 40 HEAT PUMP MARKET, BY TECHNOLOGY, 2023
TABLE 29 HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 30 HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
TABLE 31 HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (MILLION UNITS)
TABLE 32 HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (MILLION UNITS)
7.2 AIR-TO-AIR HEAT PUMPS
7.2.1 RISING PREFERENCE FOR ENERGY-EFFICIENT AND ENVIRONMENTALLY FRIENDLY HEATING AND COOLING SOLUTIONS TO DRIVE DEMAND
TABLE 33 AIR-TO-AIR HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 34 AIR-TO-AIR HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.3 AIR-TO-WATER HEAT PUMPS
7.3.1 RISING FOCUS ON CURBING GREENHOUSE GAS EMISSIONS TO DRIVE DEMAND
TABLE 35 AIR-TO-WATER HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 36 AIR-TO-WATER HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.4 WATER-SOURCE HEAT PUMPS
7.4.1 HIGH OPERATIONAL EFFICIENCY OF WATER-SOURCE HEAT PUMPS TO BOOST ADOPTION
TABLE 37 WATER-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 38 WATER-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.5 GROUND-SOURCE (GEOTHERMAL) HEAT PUMPS
7.5.1 GOVERNMENT-LED SUBSIDIES FOR BOOSTING DEPLOYMENT OF GEOTHERMAL HEAT PUMPS TO DRIVE MARKET
TABLE 39 GROUND-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 40 GROUND-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.6 HYBRID HEAT PUMPS
7.6.1 TECHNOLOGICAL ADVANCEMENTS AND SEAMLESS INTEGRATION WITH EXISTING INFRASTRUCTURE TO DRIVE DEMAND
TABLE 41 HYBRID HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 42 HYBRID HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.7 PHOTOVOLTAIC-THERMAL (PVT) HEAT PUMPS
7.7.1 INCLINATION TOWARD USE OF AIR AS RENEWABLE ENERGY SOURCE TO DRIVE MARKET
TABLE 43 PHOTOVOLTAIC-THERMAL (PVT) HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 44 PHOTOVOLTAIC-THERMAL (PVT) HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
8 HEAT PUMP MARKET, BY RATED CAPACITY
8.1 INTRODUCTION
FIGURE 41 HEAT PUMP MARKET, BY RATED CAPACITY, 2023
TABLE 45 HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 46 HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
8.2 UP TO 10 KW
8.2.1 SUITABILITY FOR SINGLE-FAMILY HOUSES TO DRIVE DEMAND
TABLE 47 UP TO 10 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 48 UP TO 10 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
8.3 10–20 KW
8.3.1 IMPROVED ENERGY SAVING, HIGH EFFICIENCY, AND LOW CARBON FOOTPRINT TO FUEL DEMAND
TABLE 49 10–20 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 50 10–20 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
8.4 20–30 KW
8.4.1 GROWING USE IN COMMERCIAL SECTOR TO DRIVE MARKET
TABLE 51 20–30 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 52 20–30 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
8.5 ABOVE 30 KW
8.5.1 HIGH USE IN FOOD & BEVERAGES, PULP & PAPER, CHEMICALS, AND PETROCHEMICALS INDUSTRIES TO DRIVE MARKET
TABLE 53 ABOVE 30 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 54 ABOVE 30 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9 HEAT PUMP MARKET, BY REFRIGERANT
9.1 INTRODUCTION
FIGURE 42 HEAT PUMP MARKET, BY REFRIGERANT, 2023
TABLE 55 HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 56 HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
9.2 R410A
9.2.1 LOWEST CONTRIBUTION OF R410A REFRIGERANTS TO OZONE DEPLETION TO DRIVE DEMAND
TABLE 57 R410A: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 58 R410A: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.3 R407C
9.3.1 INCREASED USE OF ECO-FRIENDLY REFRIGERANTS IN HEAT PUMPS TO FUEL DEMAND
TABLE 59 R407C: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 60 R407C: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.4 R744
9.4.1 HIGH VOLUMETRIC COOLING CAPACITY OF R744 REFRIGERANTS TO DRIVE DEMAND
TABLE 61 R744: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 62 R744: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.5 R290
9.5.1 EXPANDING RETROFIT MARKET FOR HEATING AND COOLING SYSTEMS TO DRIVE DEMAND
TABLE 63 R290: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 64 R290: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.6 R717
9.6.1 EXCELLENT THERMODYNAMIC PROPERTIES AND ENVIRONMENTAL FRIENDLINESS TO DRIVE DEMAND
TABLE 65 R717: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 66 R717: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.7 OTHER REFRIGERANTS
TABLE 67 OTHER REFRIGERANTS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 68 OTHER REFRIGERANTS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
10 HEAT PUMP MARKET, BY APPLICATION
10.1 INTRODUCTION
FIGURE 43 HEAT PUMP MARKET, BY APPLICATION, 2023
TABLE 69 HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 70 HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
10.2 HEATING
TABLE 71 HEATING: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 72 HEATING: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 73 HEATING: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 74 HEATING: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
10.2.1 WATER HEATING
10.2.1.1 Implementation of regulations and standards to improve energy efficiency of water heaters to drive demand
TABLE 75 WATER HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2019–2023 (USD MILLION)
TABLE 76 WATER HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2024–2029 (USD MILLION)
10.2.2 DISTRICT AND SPACE HEATING
10.2.2.1 Stringent building codes and standards to fuel demand for energy-efficient heating systems and drive market
TABLE 77 DISTRICT AND SPACE HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2019–2023 (USD MILLION)
TABLE 78 DISTRICT AND SPACE HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2024–2029 (USD MILLION)
10.3 HEATING AND COOLING
10.3.1 LONG-TERM COST SAVINGS ASSOCIATED WITH USE OF HEAT PUMPS FOR HEATING AND COOLING PURPOSES TO DRIVE DEMAND
TABLE 79 HEAT AND COOLING: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 80 HEATING AND COOLING: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
11 HEAT PUMP MARKET, BY END USER
11.1 INTRODUCTION
FIGURE 44 HEAT PUMP MARKET, BY END USER, 2023
TABLE 81 HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 82 HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
11.2 RESIDENTIAL
11.2.1 GOVERNMENT INITIATIVES TO PROMOTE ENERGY EFFICIENCY TO DRIVE DEMAND
TABLE 83 RESIDENTIAL: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 84 RESIDENTIAL: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
11.3 COMMERCIAL
11.3.1 RISE IN HIGH-TEMPERATURE HEATING REQUIREMENTS TO FUEL DEMAND
TABLE 85 COMMERCIAL: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 86 COMMERCIAL: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
11.4 INDUSTRIAL
11.4.1 GROWING GLOBAL EMPHASIS ON SUSTAINABILITY AND REDUCING CARBON FOOTPRINTS TO DRIVE DEMAND
TABLE 87 INDUSTRIAL: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 88 INDUSTRIAL: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
12 HEAT PUMP MARKET, BY REGION
12.1 INTRODUCTION
FIGURE 45 EUROPEAN HEAT PUMP MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 46 HEAT PUMP MARKET, BY REGION, 2023
TABLE 89 HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 90 HEAT PUMP MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 91 HEAT PUMP MARKET, BY REGION, 2019–2023 (MILLION UNITS)
TABLE 92 HEAT PUMP MARKET, BY REGION, 2024–2029 (MILLION UNITS)
12.2 ASIA PACIFIC
FIGURE 47 ASIA PACIFIC: HEAT PUMP MARKET SNAPSHOT
12.2.1 ASIA PACIFIC HEAT PUMP MARKET: RECESSION IMPACT
12.2.2 BY TECHNOLOGY
TABLE 93 ASIA PACIFIC: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 94 ASIA PACIFIC: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.2.3 BY TYPE
TABLE 95 ASIA PACIFIC: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 96 ASIA PACIFIC: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.2.4 BY REFRIGERANT
TABLE 97 ASIA PACIFIC: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 98 ASIA PACIFIC: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.2.5 BY RATED CAPACITY
TABLE 99 ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 100 ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.6 BY END USER
TABLE 101 ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 102 ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.7 BY APPLICATION
TABLE 103 ASIA PACIFIC: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 104 ASIA PACIFIC: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 105 ASIA PACIFIC: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 106 ASIA PACIFIC: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.2.8 BY COUNTRY
TABLE 107 ASIA PACIFIC: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 108 ASIA PACIFIC: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.2.8.1 China
12.2.8.1.1 Government focus on reducing pollution and increasing use of energy-efficient systems to fuel demand
12.2.8.2 By rated capacity
TABLE 109 CHINA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 110 CHINA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.2.1 By End User
TABLE 111 CHINA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 112 CHINA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.3 India
12.2.8.3.1 Rising use of renewable energy sources and increasing focus on minimizing carbon footprint to fuel market growth
12.2.8.3.2 By Rated Capacity
TABLE 113 INDIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 114 INDIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.3.3 By End User
TABLE 115 INDIA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 116 INDIA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.4 Japan
12.2.8.4.1 Ongoing energy conservation initiatives by government to drive market
12.2.8.4.2 By Rated Capacity
TABLE 117 JAPAN: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 118 JAPAN: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.4.3 By End User
TABLE 119 JAPAN: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 120 JAPAN: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.5 South Korea
12.2.8.5.1 High demand for energy-efficient and environmentally friendly heating solutions to drive market
12.2.8.5.2 By Rated Capacity
TABLE 121 SOUTH KOREA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 122 SOUTH KOREA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.5.3 By End User
TABLE 123 SOUTH KOREA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 124 SOUTH KOREA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.6 Australia
12.2.8.6.1 Favorable environmental conditions and focus on boosting renewable energy sector to drive market
12.2.8.6.2 By Rated Capacity
TABLE 125 AUSTRALIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 126 AUSTRALIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.6.3 By End User
TABLE 127 AUSTRALIA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 128 AUSTRALIA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.7 Rest of Asia Pacific
12.2.8.7.1 By Rated Capacity
TABLE 129 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 130 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.7.2 By End User
TABLE 131 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 132 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3 EUROPE
FIGURE 48 EUROPE: HEAT PUMP MARKET SNAPSHOT
12.3.1 EUROPEAN HEAT PUMP MARKET: RECESSION IMPACT
12.3.2 BY TECHNOLOGY
TABLE 133 EUROPE: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 134 EUROPE: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.3.3 BY TYPE
TABLE 135 EUROPE: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 136 EUROPE: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.3.4 BY REFRIGERANT
TABLE 137 EUROPE: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 138 EUROPE: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.3.5 BY RATED CAPACITY
TABLE 139 EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 140 EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.6 BY END USER
TABLE 141 EUROPE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 142 EUROPE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.7 BY APPLICATION
TABLE 143 EUROPE: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 144 EUROPE: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 145 EUROPE: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 146 EUROPE: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.3.8 BY COUNTRY
TABLE 147 EUROPE: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 148 EUROPE: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.3.8.1 France
12.3.8.1.1 Increased use of heating and cooling systems in residential, commercial, and industrial sectors to drive market
12.3.8.1.2 By Rated Capacity
TABLE 149 FRANCE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 150 FRANCE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.1.3 By End User
TABLE 151 FRANCE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 152 FRANCE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.2 Italy
12.3.8.2.1 Government-led schemes to increase installation of heat pumps to drive market
12.3.8.2.2 By Rated Capacity
TABLE 153 ITALY: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 154 ITALY: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.2.3 By End User
TABLE 155 ITALY: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 156 ITALY: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.3 Germany
12.3.8.3.1 Government focus on boosting adoption of heat pumps powered by renewable electricity for residential use to drive market
12.3.8.3.2 By Rated Capacity
TABLE 157 GERMANY: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 158 GERMANY: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.3.3 By End User
TABLE 159 GERMANY: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 160 GERMANY: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.4 UK
12.3.8.4.1 Expansion of residential sector and rise in domestic renewable heat generation to drive market
12.3.8.4.2 By Rated Capacity
TABLE 161 UK: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 162 UK: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.4.3 By End User
TABLE 163 UK: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 164 UK: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.5 Spain
12.3.8.5.1 Growing need to save energy by utilizing advanced technologies to drive demand
12.3.8.5.2 By Rated Capacity
TABLE 165 SPAIN: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 166 SPAIN: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.5.3 By End User
TABLE 167 SPAIN: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 168 SPAIN: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.6 Rest of Europe
12.3.8.6.1 By Rated Capacity
TABLE 169 REST OF EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 170 REST OF EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.6.2 By End User
TABLE 171 REST OF EUROPE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 172 REST OF EUROPE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.4 NORTH AMERICA
12.4.1 NORTH AMERICAN HEAT PUMP MARKET: RECESSION IMPACT
12.4.2 BY TECHNOLOGY
TABLE 173 NORTH AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 174 NORTH AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.4.3 BY TYPE
TABLE 175 NORTH AMERICA: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 176 NORTH AMERICA: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.4.4 BY REFRIGERANT
TABLE 177 NORTH AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 178 NORTH AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.4.5 BY RATED CAPACITY
TABLE 179 NORTH AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 180 NORTH AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.4.6 BY END USER
TABLE 181 NORTH AMERICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 182 NORTH AMERICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.4.7 BY APPLICATION
TABLE 183 NORTH AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 184 NORTH AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 185 NORTH AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 186 NORTH AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.4.8 BY COUNTRY
TABLE 187 NORTH AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 188 NORTH AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.4.8.1 US
12.4.8.1.1 Increased demand for energy-efficient water heating and cooling systems in residential and commercial sectors to drive market
12.4.8.1.2 By Rated Capacity
TABLE 189 US: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 190 US: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.4.8.1.3 By End User
TABLE 191 US: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 192 US: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.4.8.2 Canada
12.4.8.2.1 Rising focus on adopting innovative technologies to reduce energy wastage and loss to drive demand
12.4.8.2.2 By Rated Capacity
TABLE 193 CANADA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 194 CANADA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.4.8.2.3 By End User
TABLE 195 CANADA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 196 CANADA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5 MIDDLE EAST & AFRICA
12.5.1 MIDDLE EASTERN & AFRICAN HEAT PUMP MARKET: RECESSION IMPACT
12.5.2 BY TECHNOLOGY
TABLE 197 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 198 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.5.3 BY TYPE
TABLE 199 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 200 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.5.4 BY REFRIGERANT
TABLE 201 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 202 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.5.5 BY RATED CAPACITY
TABLE 203 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 204 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.6 BY END USER
TABLE 205 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 206 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.7 BY APPLICATION
TABLE 207 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 208 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 209 MIDDLE EAST & AFRICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 210 MIDDLE EAST & AFRICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.5.8 BY COUNTRY
TABLE 211 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 212 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 213 GCC COUNTRIES: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 214 GCC COUNTRIES: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.5.8.1 GCC Countries
12.5.8.1.1 Saudi Arabia
12.5.8.1.1.1 Increasing investments in industrial sector to boost demand
12.5.8.1.1.2 By Rated Capacity
TABLE 215 SAUDI ARABIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 216 SAUDI ARABIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.1.1.3 By End User
TABLE 217 SAUDI ARABIA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 218 SAUDI ARABIA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.8.1.2 UAE
12.5.8.1.2.1 Growing social consciousness about sustainable and environmentally friendly practices to fuel demand
12.5.8.1.2.2 By Rated Capacity
TABLE 219 UAE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 220 UAE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.1.2.3 By End User
TABLE 221 UAE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 222 UAE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.8.1.3 Rest of GCC countries
12.5.8.1.3.1 By Rated Capacity
TABLE 223 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 224 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.1.3.2 By End User
TABLE 225 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 226 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.8.2 South Africa
12.5.8.2.1 Increasing investments in different projects to drive demand
12.5.8.2.2 By Rated Capacity
TABLE 227 SOUTH AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 228 SOUTH AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.2.3 By End User
TABLE 229 SOUTH AFRICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 230 SOUTH AFRICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.8.3 Rest of Middle East & Africa
12.5.8.3.1 By Rated Capacity
TABLE 231 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 232 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.3.2 By End User
TABLE 233 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 234 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.9 LATIN AMERICA
12.5.10 LATIN AMERICAN HEAT PUMP MARKET: RECESSION IMPACT
12.5.11 BY TECHNOLOGY
TABLE 235 LATIN AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 236 LATIN AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.5.12 BY TYPE
TABLE 237 LATIN AMERICA: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 238 LATIN AMERICA: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.5.13 BY REFRIGERANT
TABLE 239 LATIN AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 240 LATIN AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.5.14 BY RATED CAPACITY
TABLE 241 LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 242 LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.15 BY END USER
TABLE 243 LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 244 LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.16 BY APPLICATION
TABLE 245 LATIN AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 246 LATIN AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 247 LATIN AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 248 LATIN AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.5.17 BY COUNTRY
TABLE 249 LATIN AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 250 LATIN AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.5.17.1 Brazil
12.5.17.1.1 Climate considerations to fuel adoption
12.5.17.1.2 By Rated Capacity
TABLE 251 BRAZIL: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 252 BRAZIL: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.17.1.3 By End User
TABLE 253 BRAZIL: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 254 BRAZIL: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.17.2 Mexico
12.5.17.2.1 Energy-saving initiatives to drive demand
12.5.17.2.2 By Rated Capacity
TABLE 255 MEXICO: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 256 MEXICO: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.17.2.3 By End User
TABLE 257 MEXICO: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 258 MEXICO: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.17.3 Rest of Latin America
12.5.17.3.1 By Rated Capacity
TABLE 259 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 260 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.17.3.2 By End User
TABLE 261 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 262 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
13 COMPETITIVE LANDSCAPE
13.1 OVERVIEW
13.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
TABLE 263 HEAT PUMP MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
13.3 MARKET SHARE ANALYSIS, 2022
FIGURE 49 HEAT PUMP MARKET: MARKET SHARE ANALYSIS, 2023
13.4 MARKET EVALUATION FRAMEWORK, 2019–2023
TABLE 265 MARKET EVALUATION FRAMEWORK, 2019–2023
13.5 REVENUE ANALYSIS, 2019–2023
FIGURE 50 HEAT PUMP MARKET: SEGMENTAL REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2019–2023
13.6 COMPANY VALUATION AND FINANCIAL MATRIX, 2024
FIGURE 51 HEAT PUMP MARKET: COMPANY VALUATION, 2024
FIGURE 52 HEAT PUMP MARKET: FINANCIAL MATRIX, 2024
13.7 COMPETITIVE SCENARIOS AND TRENDS
13.7.1 PRODUCT LAUNCHES
TABLE 266 HEAT PUMP MARKET: PRODUCT LAUNCHES, FEBRUARY 2019–DECEMBER 2023
13.7.2 DEALS
TABLE 267 HEAT PUMP MARKET: DEALS, JANUARY 2023–JANUARY 2024
13.7.3 EXPANSIONS
TABLE 268 HEAT PUMP MARKET: EXPANSIONS, MAY 2022–NOVEMBER 2023
13.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
13.8.1 STARS
13.8.2 EMERGING LEADERS
13.8.3 PERVASIVE PLAYERS
13.8.4 PARTICIPANTS
FIGURE 53 HEAT PUMP MARKET: COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
13.8.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
13.8.5.1 Product footprint
FIGURE 54 COMPANY PRODUCT FOOTPRINT
13.8.5.2 Market footprint
FIGURE 55 COMPANY MARKET FOOTPRINT
13.8.5.3 Regional footprint
TABLE 269 COMPANY REGION FOOTPRINT
13.8.5.4 Technology footprint
TABLE 270 COMPANY TECHNOLOGY FOOTPRINT
13.8.5.5 Type footprint
TABLE 271 COMPANY TYPE FOOTPRINT
13.8.5.6 Rated capacity footprint
TABLE 272 COMPANY RATED CAPACITY FOOTPRINT
13.8.5.7 Refrigerant footprint
TABLE 273 COMPANY REFRIGERANT FOOTPRINT
13.8.5.8 End user footprint
TABLE 274 COMPANY END USER FOOTPRINT
13.8.5.9 Application footprint
TABLE 275 COMPANY APPLICATION FOOTPRINT
13.9 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
13.9.1 PROGRESSIVE COMPANIES
13.9.2 RESPONSIVE COMPANIES
13.9.3 DYNAMIC COMPANIES
13.9.4 STARTING BLOCKS
FIGURE 56 HEAT PUMP MARKET: COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
13.9.5 COMPETITIVE BENCHMARKING: START-UPS/SMES, 2023
13.9.5.1 List of key start-ups/SMEs
TABLE 276 HEAT PUMP MARKET: LIST OF KEY START-UPS/SMES
13.9.5.2 Regional footprint (Start-ups/SMEs)
TABLE 277 START-UP/SME REGION FOOTPRINT
13.9.5.3 Technology footprint (Start-ups/SMEs)
TABLE 278 START-UP/SME TECHNOLOGY FOOTPRINT
13.9.5.4 Type footprint (Start-ups/SMEs)
TABLE 279 START-UP/SME TYPE FOOTPRINT
13.9.5.5 Rated capacity footprint (Start-ups/SMEs)
TABLE 280 START-UP/SME RATED CAPACITY FOOTPRINT
13.9.5.6 Refrigerant footprint (Start-ups/SMEs)
TABLE 281 START-UP/SME REFRIGERANT FOOTPRINT
13.9.5.7 End user footprint (Start-ups/SMEs)
TABLE 282 START-UP/SME END USER FOOTPRINT
13.9.5.8 Application footprint (Start-ups/SMEs)
TABLE 283 START-UP/SME APPLICATION FOOTPRINT
13.10 BRAND/PRODUCT COMPARISON
FIGURE 57 BRAND/PRODUCT COMPARISON
14 COMPANY PROFILES
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*
14.1 KEY PLAYERS
14.1.1 SAMSUNG
TABLE 284 SAMSUNG: COMPANY OVERVIEW
FIGURE 58 SAMSUNG: COMPANY SNAPSHOT
TABLE 285 SAMSUNG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 286 SAMSUNG: PRODUCT LAUNCHES
TABLE 287 SAMSUNG: DEALS
14.1.2 DENSO CORPORATION
TABLE 288 DENSO CORPORATION: COMPANY OVERVIEW
FIGURE 59 DENSO CORPORATION: COMPANY SNAPSHOT
TABLE 289 DENSO CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 290 DENSO CORPORATION: OTHERS
14.1.3 MIDEA
TABLE 291 MIDEA: COMPANY OVERVIEW
FIGURE 60 MIDEA: COMPANY SNAPSHOT
TABLE 292 MIDEA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 293 MIDEA: PRODUCT LAUNCHES
TABLE 294 MIDEA: DEALS
TABLE 295 MIDEA: OTHERS
14.1.4 PANASONIC HOLDINGS CORPORATION
TABLE 296 PANASONIC HOLDINGS CORPORATION: COMPANY OVERVIEW
FIGURE 61 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT
TABLE 297 PANASONIC HOLDINGS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 298 PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES
TABLE 299 PANASONIC HOLDINGS CORPORATION: DEALS
TABLE 300 PANASONIC HOLDINGS CORPORATION: OTHERS
14.1.5 MITSUBISHI ELECTRIC CORPORATION
TABLE 301 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
FIGURE 62 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 302 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 303 MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES
TABLE 304 MITSUBISHI ELECTRIC CORPORATION: DEALS
TABLE 305 MITSUBISHI ELECTRIC CORPORATION: OTHERS
14.1.6 LG ELECTRONICS
TABLE 306 LG ELECTRONICS: COMPANY OVERVIEW
FIGURE 63 LG ELECTRONICS: COMPANY SNAPSHOT
TABLE 307 LG ELECTRONICS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 308 LG ELECTRONICS: PRODUCT LAUNCHES
TABLE 309 LG ELECTRONICS: DEALS
TABLE 310 LG ELECTRONICS: OTHERS
14.1.7 LENNOX INTERNATIONAL INC.
TABLE 311 LENNOX INTERNATIONAL INC.: COMPANY OVERVIEW
FIGURE 64 LENNOX INTERNATIONAL INC.: COMPANY SNAPSHOT
TABLE 312 LENNOX INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 313 LENNOX INTERNATIONAL INC.: PRODUCT LAUNCHES
TABLE 314 LENNOX INTERNATIONAL INC.: DEALS
14.1.8 FUJITSU GENERAL
TABLE 315 FUJITSU GENERAL: COMPANY OVERVIEW
FIGURE 65 FUJITSU GENERAL: COMPANY SNAPSHOT
TABLE 316 FUJITSU GENERAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 317 FUJITSU GENERAL: DEALS
14.1.9 DAIKIN INDUSTRIES, LTD.
TABLE 318 DAIKIN INDUSTRIES, LTD.: COMPANY OVERVIEW
FIGURE 66 DAIKIN INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 319 DAIKIN INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 320 DAIKIN INDUSTRIES, LTD.: PRODUCT LAUNCHES
TABLE 321 DAIKIN INDUSTRIES, LTD.: OTHERS
14.1.10 CARRIER
TABLE 322 CARRIER: COMPANY OVERVIEW
FIGURE 67 CARRIER: COMPANY SNAPSHOT
TABLE 323 CARRIER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 324 CARRIER: PRODUCT LAUNCHES
TABLE 325 CARRIER: DEALS
TABLE 326 CARRIER: OTHERS
14.1.11 JOHNSON CONTROLS
TABLE 327 JOHNSON CONTROLS: COMPANY OVERVIEW
FIGURE 68 JOHNSON CONTROLS: COMPANY SNAPSHOT
TABLE 328 JOHNSON CONTROLS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 329 JOHNSON CONTROLS: PRODUCT LAUNCHES
TABLE 330 JOHNSON CONTROLS: DEALS
14.1.12 THERMAX LIMITED
TABLE 331 THERMAX LIMITED: COMPANY OVERVIEW
FIGURE 69 THERMAX LIMITED: COMPANY SNAPSHOT
TABLE 332 THERMAX LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 333 THERMAX LIMITED: OTHERS
14.1.13 GEA GROUP AKTIENGESELLSCHAFT
TABLE 334 GEA GROUP AKTIENGESELLSCHAFT: COMPANY OVERVIEW
FIGURE 70 GEA GROUP AKTIENGESELLSCHAFT: COMPANY SNAPSHOT
TABLE 335 GEA GROUP AKTIENGESELLSCHAFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 336 GEA GROUP AKTIENGESELLSCHAFT: OTHERS
14.1.14 TRANE TECHNOLOGIES PLC
TABLE 337 TRANE TECHNOLOGIES PLC: COMPANY OVERVIEW
FIGURE 71 TRANE TECHNOLOGIES PLC: COMPANY SNAPSHOT
TABLE 338 TRANE TECHNOLOGIES PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 339 TRANE TECHNOLOGIES PLC: PRODUCT LAUNCHES
TABLE 340 TRANE TECHNOLOGIES PLC: DEALS
14.1.15 BOSCH THERMOTECHNOLOGY CORP.
TABLE 341 BOSCH THERMOTECHNOLOGY CORP.: COMPANY OVERVIEW
TABLE 342 BOSCH THERMOTECHNOLOGY CORP.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 343 BOSCH THERMOTECHNOLOGY CORP.: PRODUCT LAUNCHES
TABLE 344 BOSCH THERMOTECHNOLOGY CORP.: OTHERS
14.2 OTHER PLAYERS
14.2.1 GUANGZHOU SPRSUN NEW ENERGY TECHNOLOGY DEVELOPMENT CO.,LTD.
14.2.2 GLEN DIMPLEX GROUP
14.2.3 NIBE
14.2.4 RHEEM MANUFACTURING COMPANY
14.2.5 ENERGEN HYBRID SYSTEMS LIMITED
14.2.6 EVO ENERGY TECHNOLOGIES
14.2.7 NAMMASWADESHI
14.2.8 ECO TECH SOLUTIONS
14.2.9 DANDELION
14.2.10 ZEALUX ELECTRIC LIMITED
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
15 APPENDIX
15.1 INSIGHTS FROM INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.4 CUSTOMIZATION OPTIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.3.5 UNITS CONSIDERED
1.4 LIMITATIONS
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.7 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 HEAT PUMP MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION
2.3 PRIMARY AND SECONDARY RESEARCH
2.3.1 SECONDARY DATA
TABLE 1 LIST OF MAJOR SECONDARY SOURCES
2.3.1.1 Key secondary sources
2.3.2 PRIMARY DATA
TABLE 2 LIST OF PRIMARY INTERVIEW PARTICIPANTS
2.3.2.1 Key industry insights
2.3.2.2 Breakdown of primaries
FIGURE 3 BREAKDOWN OF PRIMARIES: BY COMPANY TYPE, DESIGNATION, AND REGION
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
FIGURE 4 HEAT PUMP MARKET: BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
FIGURE 5 HEAT PUMP MARKET: TOP-DOWN APPROACH
2.5 DEMAND-SIDE ANALYSIS
2.5.1 DEMAND-SIDE METRICS
FIGURE 6 METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR HEAT PUMPS
2.5.1.1 Assumptions for demand-side analysis
2.5.1.2 Calculations for demand-side analysis
2.6 SUPPLY-SIDE ANALYSIS
2.6.1 SUPPLY-SIDE METRICS
FIGURE 7 KEY FACTORS CONSIDERED TO ASSESS SUPPLY OF HEAT PUMPS
FIGURE 8 HEAT PUMP MARKET: SUPPLY-SIDE ANALYSIS
2.6.1.1 Calculations for supply-side analysis
2.6.1.2 Assumptions for supply-side analysis
2.7 FORECAST
2.8 RISK ASSESSMENT
2.9 RECESSION IMPACT
3 EXECUTIVE SUMMARY
TABLE 3 HEAT PUMP MARKET SNAPSHOT
FIGURE 9 ASIA PACIFIC HELD LARGEST SHARE OF HEAT PUMP MARKET IN 2023
FIGURE 10 AIR-TO-AIR HEAT PUMPS SEGMENT TO LEAD HEAT PUMP MARKET IN 2029
FIGURE 11 NON-REVERSIBLE HEAT PUMPS SEGMENT TO HOLD LARGER SHARE OF HEAT PUMP MARKET IN 2029
FIGURE 12 R410A SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
FIGURE 13 UP TO 10 KW SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
FIGURE 14 RESIDENTIAL SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
FIGURE 15 DISTRICT AND SPACE HEATING SEGMENT TO DOMINATE HEAT PUMP MARKET BY HEATING APPLICATION IN 2029
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HEAT PUMP MARKET
FIGURE 16 INTEGRATION OF INTERNET OF THINGS (IOT) TECHNOLOGY INTO HEAT PUMPS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS
4.2 HEAT PUMP MARKET, BY REGION
FIGURE 17 EUROPEAN HEAT PUMP MARKET TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
4.3 HEAT PUMP MARKET, BY TECHNOLOGY
FIGURE 18 AIR-TO-AIR HEAT PUMPS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029
4.4 HEAT PUMP MARKET, BY TYPE
FIGURE 19 NON-REVERSIBLE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2029
4.5 HEAT PUMP MARKET, BY REFRIGERANT
FIGURE 20 R410A SEGMENT TO HOLD LARGER MARKET SHARE IN 2029
4.6 HEAT PUMP MARKET, BY RATED CAPACITY
FIGURE 21 UP TO 10 KW SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
4.7 HEAT PUMP MARKET, BY END USER
FIGURE 22 RESIDENTIAL SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
4.8 HEAT PUMP MARKET, BY APPLICATION
FIGURE 23 HEATING SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 24 HEAT PUMP MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Growing use of heat pumps beyond traditional heating and cooling applications
5.2.1.2 Capability of heat pumps to be integrated with renewable energy systems
5.2.1.3 Implementation of government policies and initiatives to promote use of energy-efficient heating and cooling systems
5.2.2 RESTRAINTS
5.2.2.1 Difficulties in installation and unaesthetic appearance
5.2.2.2 Limited public awareness regarding benefits of heat pumps and lack of knowledge about heat pump standards among contractors
5.2.3 OPPORTUNITIES
5.2.3.1 High focus of manufacturers on integrating IoT, ML, and AI technologies into heat pumps
TABLE 4 BENEFITS OF SMART THERMOSTATS OFFERED BY KEY PLAYERS
5.2.3.2 Positive outlook toward use of geothermal energy
5.2.3.3 Increased sales of heat pumps in Europe
FIGURE 25 ANNUAL SALES GROWTH OF HEAT PUMPS WORLDWIDE AND SELECTED MARKETS BETWEEN 2021 AND 2022
5.2.4 CHALLENGES
5.2.4.1 Dependency on energy source for heat pump efficiency
5.2.4.2 High installation cost
TABLE 5 AVERAGE HEAT PUMP INSTALLATION COST, BY TYPE (USD)
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 26 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE TREND OF HEAT PUMPS, BY REGION
TABLE 6 INDICATIVE PRICING ANALYSIS OF HEAT PUMPS, BY REGION, 2023–2029 (USD)
FIGURE 27 INDICATIVE PRICING TREND OF HEAT PUMPS, BY REGION, 2019–2029 (USD)
5.4.2 INDICATIVE PRICING ANALYSIS OF HEAT PUMPS, BY TECHNOLOGY
TABLE 7 INDICATIVE PRICING ANALYSIS OF HEAT PUMPS, BY TECHNOLOGY, 2023–2029 (USD)
FIGURE 28 INDICATIVE PRICING TREND OF HEAT PUMPS, BY TECHNOLOGY, 2019–2029 (USD)
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 29 HEAT PUMP MARKET: SUPPLY CHAIN ANALYSIS
5.5.1 RAW MATERIAL SUPPLIERS
5.5.2 ORIGINAL EQUIPMENT MANUFACTURERS (OEMS)
5.5.3 DISTRIBUTORS
5.5.4 END USERS
5.6 ECOSYSTEM/MARKET MAP
FIGURE 30 HEAT PUMP MARKET MAP
TABLE 8 COMPANIES AND THEIR ROLES IN HEAT PUMP ECOSYSTEM
FIGURE 31 HEAT PUMP MARKET: ECOSYSTEM MAPPING
5.7 REGULATORY LANDSCAPE
5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 LATIN AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.7.2 REGULATIONS
TABLE 14 HEAT PUMP MARKET: REGULATIONS
5.8 PATENT ANALYSIS
FIGURE 32 INNOVATIONS AND PATENT REGISTRATIONS, 2013–2023
5.8.1 LIST OF MAJOR PATENTS
TABLE 15 HEAT PUMP MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2018–2022
5.9 CASE STUDY ANALYSIS
5.9.1 CITY SUITES HOTEL INSTALLED DAIKIN VRV IV+ HEAT PUMP SYSTEM WITH INDIVIDUAL ROOM CONTROLS TO REDUCE ENERGY CONSUMPTION AND ENHANCE GUEST EXPERIENCE
5.9.1.1 Problem statement
5.9.1.2 Solution
5.9.2 INDUSTRIAL PLANT IMPLEMENTED CARRIER AQUAEDGE 19DV WATER-COOLED CHILLER WITH HEAT RECOVERY TO REVOLUTIONIZE INDUSTRIAL PROCESSES
5.9.2.1 Problem statement
5.9.2.2 Solution
5.9.3 HOTEL DEPLOYED A. O. SMITH VOLTEX HYBRID ELECTRIC HEAT PUMP WATER HEATER TO REDUCE ENERGY CONSUMPTION AND COST
5.9.3.1 Problem statement
5.9.3.2 Solution
5.10 TECHNOLOGY ANALYSIS
5.10.1 KEY TECHNOLOGIES
5.10.1.1 Photovoltaic-thermal solar-assisted heat pump systems
5.10.1.2 Hybrid heat pumps
5.10.1.3 Air-to-air heat pumps
5.10.1.4 Air-to-water heat pumps
5.10.1.5 Water-source heat pumps
5.10.1.6 Ground-source heat pumps
5.10.1.7 Solid-state heat pumps
5.10.2 COMPLEMENTARY TECHNOLOGIES
5.10.2.1 Thermal storage
5.10.2.2 Smart controls and automation technologies
5.10.3 ADJACENT TECHNOLOGIES
5.10.3.1 Heat recovery ventilation (HRV) systems
5.10.3.2 Internet of Things (IoT) devices
5.10.4 SEASONAL COEFFICIENT OF PERFORMANCE (SCOP)
TABLE 16 SCOP OF KEY PLAYERS
5.11 KEY CONFERENCES AND EVENTS, 2024
TABLE 17 HEAT PUMP MARKET: KEY CONFERENCES AND EVENTS, 2023–2024
5.12 TRADE ANALYSIS
5.12.1 EXPORT SCENARIO
TABLE 18 EXPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)
FIGURE 33 EXPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND)
5.12.2 IMPORT SCENARIO
TABLE 19 IMPORT SCENARIO FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND)
FIGURE 34 IMPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND)
5.13 PORTER’S FIVE FORCES ANALYSIS
FIGURE 35 HEAT PUMP MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 20 HEAT PUMP MARKET: PORTER’S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 36 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS, BY END USER
TABLE 21 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER (%)
5.14.2 BUYING CRITERIA
FIGURE 37 KEY BUYING CRITERIA, BY END USER
TABLE 22 KEY BUYING CRITERIA, BY END USER
5.15 INVESTMENT AND FUNDING SCENARIO
FIGURE 38 INVESTMENT AND FUNDING SCENARIO
6 HEAT PUMP MARKET, BY TYPE
6.1 INTRODUCTION
FIGURE 39 HEAT PUMP MARKET, BY TYPE, 2023
TABLE 23 HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 24 HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
6.2 REVERSIBLE HEAT PUMPS
6.2.1 IMPLEMENTATION OF ENERGY EFFICIENCY REGULATIONS TO MITIGATE CLIMATE CHANGE AND PROMOTE SUSTAINABLE DEVELOPMENT TO DRIVE DEMAND
TABLE 25 REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 26 REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
6.3 NON-REVERSIBLE HEAT PUMPS
6.3.1 LOW INITIAL INSTALLATION COSTS TO DRIVE DEMAND
TABLE 27 NON-REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 28 NON-REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7 HEAT PUMP MARKET, BY TECHNOLOGY
7.1 INTRODUCTION
FIGURE 40 HEAT PUMP MARKET, BY TECHNOLOGY, 2023
TABLE 29 HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 30 HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
TABLE 31 HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (MILLION UNITS)
TABLE 32 HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (MILLION UNITS)
7.2 AIR-TO-AIR HEAT PUMPS
7.2.1 RISING PREFERENCE FOR ENERGY-EFFICIENT AND ENVIRONMENTALLY FRIENDLY HEATING AND COOLING SOLUTIONS TO DRIVE DEMAND
TABLE 33 AIR-TO-AIR HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 34 AIR-TO-AIR HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.3 AIR-TO-WATER HEAT PUMPS
7.3.1 RISING FOCUS ON CURBING GREENHOUSE GAS EMISSIONS TO DRIVE DEMAND
TABLE 35 AIR-TO-WATER HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 36 AIR-TO-WATER HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.4 WATER-SOURCE HEAT PUMPS
7.4.1 HIGH OPERATIONAL EFFICIENCY OF WATER-SOURCE HEAT PUMPS TO BOOST ADOPTION
TABLE 37 WATER-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 38 WATER-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.5 GROUND-SOURCE (GEOTHERMAL) HEAT PUMPS
7.5.1 GOVERNMENT-LED SUBSIDIES FOR BOOSTING DEPLOYMENT OF GEOTHERMAL HEAT PUMPS TO DRIVE MARKET
TABLE 39 GROUND-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 40 GROUND-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.6 HYBRID HEAT PUMPS
7.6.1 TECHNOLOGICAL ADVANCEMENTS AND SEAMLESS INTEGRATION WITH EXISTING INFRASTRUCTURE TO DRIVE DEMAND
TABLE 41 HYBRID HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 42 HYBRID HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
7.7 PHOTOVOLTAIC-THERMAL (PVT) HEAT PUMPS
7.7.1 INCLINATION TOWARD USE OF AIR AS RENEWABLE ENERGY SOURCE TO DRIVE MARKET
TABLE 43 PHOTOVOLTAIC-THERMAL (PVT) HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 44 PHOTOVOLTAIC-THERMAL (PVT) HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
8 HEAT PUMP MARKET, BY RATED CAPACITY
8.1 INTRODUCTION
FIGURE 41 HEAT PUMP MARKET, BY RATED CAPACITY, 2023
TABLE 45 HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 46 HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
8.2 UP TO 10 KW
8.2.1 SUITABILITY FOR SINGLE-FAMILY HOUSES TO DRIVE DEMAND
TABLE 47 UP TO 10 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 48 UP TO 10 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
8.3 10–20 KW
8.3.1 IMPROVED ENERGY SAVING, HIGH EFFICIENCY, AND LOW CARBON FOOTPRINT TO FUEL DEMAND
TABLE 49 10–20 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 50 10–20 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
8.4 20–30 KW
8.4.1 GROWING USE IN COMMERCIAL SECTOR TO DRIVE MARKET
TABLE 51 20–30 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 52 20–30 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
8.5 ABOVE 30 KW
8.5.1 HIGH USE IN FOOD & BEVERAGES, PULP & PAPER, CHEMICALS, AND PETROCHEMICALS INDUSTRIES TO DRIVE MARKET
TABLE 53 ABOVE 30 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 54 ABOVE 30 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9 HEAT PUMP MARKET, BY REFRIGERANT
9.1 INTRODUCTION
FIGURE 42 HEAT PUMP MARKET, BY REFRIGERANT, 2023
TABLE 55 HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 56 HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
9.2 R410A
9.2.1 LOWEST CONTRIBUTION OF R410A REFRIGERANTS TO OZONE DEPLETION TO DRIVE DEMAND
TABLE 57 R410A: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 58 R410A: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.3 R407C
9.3.1 INCREASED USE OF ECO-FRIENDLY REFRIGERANTS IN HEAT PUMPS TO FUEL DEMAND
TABLE 59 R407C: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 60 R407C: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.4 R744
9.4.1 HIGH VOLUMETRIC COOLING CAPACITY OF R744 REFRIGERANTS TO DRIVE DEMAND
TABLE 61 R744: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 62 R744: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.5 R290
9.5.1 EXPANDING RETROFIT MARKET FOR HEATING AND COOLING SYSTEMS TO DRIVE DEMAND
TABLE 63 R290: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 64 R290: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.6 R717
9.6.1 EXCELLENT THERMODYNAMIC PROPERTIES AND ENVIRONMENTAL FRIENDLINESS TO DRIVE DEMAND
TABLE 65 R717: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 66 R717: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
9.7 OTHER REFRIGERANTS
TABLE 67 OTHER REFRIGERANTS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 68 OTHER REFRIGERANTS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
10 HEAT PUMP MARKET, BY APPLICATION
10.1 INTRODUCTION
FIGURE 43 HEAT PUMP MARKET, BY APPLICATION, 2023
TABLE 69 HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 70 HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
10.2 HEATING
TABLE 71 HEATING: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 72 HEATING: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 73 HEATING: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 74 HEATING: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
10.2.1 WATER HEATING
10.2.1.1 Implementation of regulations and standards to improve energy efficiency of water heaters to drive demand
TABLE 75 WATER HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2019–2023 (USD MILLION)
TABLE 76 WATER HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2024–2029 (USD MILLION)
10.2.2 DISTRICT AND SPACE HEATING
10.2.2.1 Stringent building codes and standards to fuel demand for energy-efficient heating systems and drive market
TABLE 77 DISTRICT AND SPACE HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2019–2023 (USD MILLION)
TABLE 78 DISTRICT AND SPACE HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2024–2029 (USD MILLION)
10.3 HEATING AND COOLING
10.3.1 LONG-TERM COST SAVINGS ASSOCIATED WITH USE OF HEAT PUMPS FOR HEATING AND COOLING PURPOSES TO DRIVE DEMAND
TABLE 79 HEAT AND COOLING: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 80 HEATING AND COOLING: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
11 HEAT PUMP MARKET, BY END USER
11.1 INTRODUCTION
FIGURE 44 HEAT PUMP MARKET, BY END USER, 2023
TABLE 81 HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 82 HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
11.2 RESIDENTIAL
11.2.1 GOVERNMENT INITIATIVES TO PROMOTE ENERGY EFFICIENCY TO DRIVE DEMAND
TABLE 83 RESIDENTIAL: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 84 RESIDENTIAL: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
11.3 COMMERCIAL
11.3.1 RISE IN HIGH-TEMPERATURE HEATING REQUIREMENTS TO FUEL DEMAND
TABLE 85 COMMERCIAL: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 86 COMMERCIAL: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
11.4 INDUSTRIAL
11.4.1 GROWING GLOBAL EMPHASIS ON SUSTAINABILITY AND REDUCING CARBON FOOTPRINTS TO DRIVE DEMAND
TABLE 87 INDUSTRIAL: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 88 INDUSTRIAL: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION)
12 HEAT PUMP MARKET, BY REGION
12.1 INTRODUCTION
FIGURE 45 EUROPEAN HEAT PUMP MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 46 HEAT PUMP MARKET, BY REGION, 2023
TABLE 89 HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 90 HEAT PUMP MARKET, BY REGION, 2023–2028 (USD MILLION)
TABLE 91 HEAT PUMP MARKET, BY REGION, 2019–2023 (MILLION UNITS)
TABLE 92 HEAT PUMP MARKET, BY REGION, 2024–2029 (MILLION UNITS)
12.2 ASIA PACIFIC
FIGURE 47 ASIA PACIFIC: HEAT PUMP MARKET SNAPSHOT
12.2.1 ASIA PACIFIC HEAT PUMP MARKET: RECESSION IMPACT
12.2.2 BY TECHNOLOGY
TABLE 93 ASIA PACIFIC: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 94 ASIA PACIFIC: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.2.3 BY TYPE
TABLE 95 ASIA PACIFIC: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 96 ASIA PACIFIC: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.2.4 BY REFRIGERANT
TABLE 97 ASIA PACIFIC: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 98 ASIA PACIFIC: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.2.5 BY RATED CAPACITY
TABLE 99 ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 100 ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.6 BY END USER
TABLE 101 ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 102 ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.7 BY APPLICATION
TABLE 103 ASIA PACIFIC: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 104 ASIA PACIFIC: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 105 ASIA PACIFIC: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 106 ASIA PACIFIC: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.2.8 BY COUNTRY
TABLE 107 ASIA PACIFIC: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 108 ASIA PACIFIC: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.2.8.1 China
12.2.8.1.1 Government focus on reducing pollution and increasing use of energy-efficient systems to fuel demand
12.2.8.2 By rated capacity
TABLE 109 CHINA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 110 CHINA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.2.1 By End User
TABLE 111 CHINA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 112 CHINA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.3 India
12.2.8.3.1 Rising use of renewable energy sources and increasing focus on minimizing carbon footprint to fuel market growth
12.2.8.3.2 By Rated Capacity
TABLE 113 INDIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 114 INDIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.3.3 By End User
TABLE 115 INDIA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 116 INDIA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.4 Japan
12.2.8.4.1 Ongoing energy conservation initiatives by government to drive market
12.2.8.4.2 By Rated Capacity
TABLE 117 JAPAN: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 118 JAPAN: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.4.3 By End User
TABLE 119 JAPAN: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 120 JAPAN: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.5 South Korea
12.2.8.5.1 High demand for energy-efficient and environmentally friendly heating solutions to drive market
12.2.8.5.2 By Rated Capacity
TABLE 121 SOUTH KOREA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 122 SOUTH KOREA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.5.3 By End User
TABLE 123 SOUTH KOREA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 124 SOUTH KOREA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.6 Australia
12.2.8.6.1 Favorable environmental conditions and focus on boosting renewable energy sector to drive market
12.2.8.6.2 By Rated Capacity
TABLE 125 AUSTRALIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 126 AUSTRALIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.6.3 By End User
TABLE 127 AUSTRALIA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 128 AUSTRALIA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.2.8.7 Rest of Asia Pacific
12.2.8.7.1 By Rated Capacity
TABLE 129 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 130 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.2.8.7.2 By End User
TABLE 131 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 132 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3 EUROPE
FIGURE 48 EUROPE: HEAT PUMP MARKET SNAPSHOT
12.3.1 EUROPEAN HEAT PUMP MARKET: RECESSION IMPACT
12.3.2 BY TECHNOLOGY
TABLE 133 EUROPE: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 134 EUROPE: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.3.3 BY TYPE
TABLE 135 EUROPE: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 136 EUROPE: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.3.4 BY REFRIGERANT
TABLE 137 EUROPE: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 138 EUROPE: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.3.5 BY RATED CAPACITY
TABLE 139 EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 140 EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.6 BY END USER
TABLE 141 EUROPE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 142 EUROPE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.7 BY APPLICATION
TABLE 143 EUROPE: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 144 EUROPE: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 145 EUROPE: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 146 EUROPE: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.3.8 BY COUNTRY
TABLE 147 EUROPE: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 148 EUROPE: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.3.8.1 France
12.3.8.1.1 Increased use of heating and cooling systems in residential, commercial, and industrial sectors to drive market
12.3.8.1.2 By Rated Capacity
TABLE 149 FRANCE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 150 FRANCE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.1.3 By End User
TABLE 151 FRANCE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 152 FRANCE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.2 Italy
12.3.8.2.1 Government-led schemes to increase installation of heat pumps to drive market
12.3.8.2.2 By Rated Capacity
TABLE 153 ITALY: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 154 ITALY: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.2.3 By End User
TABLE 155 ITALY: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 156 ITALY: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.3 Germany
12.3.8.3.1 Government focus on boosting adoption of heat pumps powered by renewable electricity for residential use to drive market
12.3.8.3.2 By Rated Capacity
TABLE 157 GERMANY: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 158 GERMANY: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.3.3 By End User
TABLE 159 GERMANY: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 160 GERMANY: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.4 UK
12.3.8.4.1 Expansion of residential sector and rise in domestic renewable heat generation to drive market
12.3.8.4.2 By Rated Capacity
TABLE 161 UK: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 162 UK: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.4.3 By End User
TABLE 163 UK: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 164 UK: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.5 Spain
12.3.8.5.1 Growing need to save energy by utilizing advanced technologies to drive demand
12.3.8.5.2 By Rated Capacity
TABLE 165 SPAIN: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 166 SPAIN: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.5.3 By End User
TABLE 167 SPAIN: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 168 SPAIN: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.3.8.6 Rest of Europe
12.3.8.6.1 By Rated Capacity
TABLE 169 REST OF EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 170 REST OF EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.3.8.6.2 By End User
TABLE 171 REST OF EUROPE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 172 REST OF EUROPE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.4 NORTH AMERICA
12.4.1 NORTH AMERICAN HEAT PUMP MARKET: RECESSION IMPACT
12.4.2 BY TECHNOLOGY
TABLE 173 NORTH AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 174 NORTH AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.4.3 BY TYPE
TABLE 175 NORTH AMERICA: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 176 NORTH AMERICA: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.4.4 BY REFRIGERANT
TABLE 177 NORTH AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 178 NORTH AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.4.5 BY RATED CAPACITY
TABLE 179 NORTH AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 180 NORTH AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.4.6 BY END USER
TABLE 181 NORTH AMERICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 182 NORTH AMERICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.4.7 BY APPLICATION
TABLE 183 NORTH AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 184 NORTH AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 185 NORTH AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 186 NORTH AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.4.8 BY COUNTRY
TABLE 187 NORTH AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 188 NORTH AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.4.8.1 US
12.4.8.1.1 Increased demand for energy-efficient water heating and cooling systems in residential and commercial sectors to drive market
12.4.8.1.2 By Rated Capacity
TABLE 189 US: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 190 US: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.4.8.1.3 By End User
TABLE 191 US: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 192 US: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.4.8.2 Canada
12.4.8.2.1 Rising focus on adopting innovative technologies to reduce energy wastage and loss to drive demand
12.4.8.2.2 By Rated Capacity
TABLE 193 CANADA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 194 CANADA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.4.8.2.3 By End User
TABLE 195 CANADA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 196 CANADA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5 MIDDLE EAST & AFRICA
12.5.1 MIDDLE EASTERN & AFRICAN HEAT PUMP MARKET: RECESSION IMPACT
12.5.2 BY TECHNOLOGY
TABLE 197 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 198 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.5.3 BY TYPE
TABLE 199 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 200 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.5.4 BY REFRIGERANT
TABLE 201 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 202 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.5.5 BY RATED CAPACITY
TABLE 203 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 204 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.6 BY END USER
TABLE 205 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 206 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.7 BY APPLICATION
TABLE 207 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 208 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 209 MIDDLE EAST & AFRICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 210 MIDDLE EAST & AFRICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.5.8 BY COUNTRY
TABLE 211 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 212 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 213 GCC COUNTRIES: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 214 GCC COUNTRIES: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.5.8.1 GCC Countries
12.5.8.1.1 Saudi Arabia
12.5.8.1.1.1 Increasing investments in industrial sector to boost demand
12.5.8.1.1.2 By Rated Capacity
TABLE 215 SAUDI ARABIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 216 SAUDI ARABIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.1.1.3 By End User
TABLE 217 SAUDI ARABIA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 218 SAUDI ARABIA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.8.1.2 UAE
12.5.8.1.2.1 Growing social consciousness about sustainable and environmentally friendly practices to fuel demand
12.5.8.1.2.2 By Rated Capacity
TABLE 219 UAE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 220 UAE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.1.2.3 By End User
TABLE 221 UAE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 222 UAE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.8.1.3 Rest of GCC countries
12.5.8.1.3.1 By Rated Capacity
TABLE 223 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 224 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.1.3.2 By End User
TABLE 225 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 226 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.8.2 South Africa
12.5.8.2.1 Increasing investments in different projects to drive demand
12.5.8.2.2 By Rated Capacity
TABLE 227 SOUTH AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 228 SOUTH AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.2.3 By End User
TABLE 229 SOUTH AFRICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 230 SOUTH AFRICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.8.3 Rest of Middle East & Africa
12.5.8.3.1 By Rated Capacity
TABLE 231 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 232 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.8.3.2 By End User
TABLE 233 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 234 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.9 LATIN AMERICA
12.5.10 LATIN AMERICAN HEAT PUMP MARKET: RECESSION IMPACT
12.5.11 BY TECHNOLOGY
TABLE 235 LATIN AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION)
TABLE 236 LATIN AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION)
12.5.12 BY TYPE
TABLE 237 LATIN AMERICA: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION)
TABLE 238 LATIN AMERICA: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION)
12.5.13 BY REFRIGERANT
TABLE 239 LATIN AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION)
TABLE 240 LATIN AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION)
12.5.14 BY RATED CAPACITY
TABLE 241 LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 242 LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.15 BY END USER
TABLE 243 LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 244 LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.16 BY APPLICATION
TABLE 245 LATIN AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 246 LATIN AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 247 LATIN AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 248 LATIN AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION)
12.5.17 BY COUNTRY
TABLE 249 LATIN AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 250 LATIN AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
12.5.17.1 Brazil
12.5.17.1.1 Climate considerations to fuel adoption
12.5.17.1.2 By Rated Capacity
TABLE 251 BRAZIL: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 252 BRAZIL: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.17.1.3 By End User
TABLE 253 BRAZIL: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 254 BRAZIL: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.17.2 Mexico
12.5.17.2.1 Energy-saving initiatives to drive demand
12.5.17.2.2 By Rated Capacity
TABLE 255 MEXICO: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 256 MEXICO: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.17.2.3 By End User
TABLE 257 MEXICO: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 258 MEXICO: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
12.5.17.3 Rest of Latin America
12.5.17.3.1 By Rated Capacity
TABLE 259 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION)
TABLE 260 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION)
12.5.17.3.2 By End User
TABLE 261 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION)
TABLE 262 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION)
13 COMPETITIVE LANDSCAPE
13.1 OVERVIEW
13.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
TABLE 263 HEAT PUMP MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
13.3 MARKET SHARE ANALYSIS, 2022
FIGURE 49 HEAT PUMP MARKET: MARKET SHARE ANALYSIS, 2023
13.4 MARKET EVALUATION FRAMEWORK, 2019–2023
TABLE 265 MARKET EVALUATION FRAMEWORK, 2019–2023
13.5 REVENUE ANALYSIS, 2019–2023
FIGURE 50 HEAT PUMP MARKET: SEGMENTAL REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2019–2023
13.6 COMPANY VALUATION AND FINANCIAL MATRIX, 2024
FIGURE 51 HEAT PUMP MARKET: COMPANY VALUATION, 2024
FIGURE 52 HEAT PUMP MARKET: FINANCIAL MATRIX, 2024
13.7 COMPETITIVE SCENARIOS AND TRENDS
13.7.1 PRODUCT LAUNCHES
TABLE 266 HEAT PUMP MARKET: PRODUCT LAUNCHES, FEBRUARY 2019–DECEMBER 2023
13.7.2 DEALS
TABLE 267 HEAT PUMP MARKET: DEALS, JANUARY 2023–JANUARY 2024
13.7.3 EXPANSIONS
TABLE 268 HEAT PUMP MARKET: EXPANSIONS, MAY 2022–NOVEMBER 2023
13.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
13.8.1 STARS
13.8.2 EMERGING LEADERS
13.8.3 PERVASIVE PLAYERS
13.8.4 PARTICIPANTS
FIGURE 53 HEAT PUMP MARKET: COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
13.8.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
13.8.5.1 Product footprint
FIGURE 54 COMPANY PRODUCT FOOTPRINT
13.8.5.2 Market footprint
FIGURE 55 COMPANY MARKET FOOTPRINT
13.8.5.3 Regional footprint
TABLE 269 COMPANY REGION FOOTPRINT
13.8.5.4 Technology footprint
TABLE 270 COMPANY TECHNOLOGY FOOTPRINT
13.8.5.5 Type footprint
TABLE 271 COMPANY TYPE FOOTPRINT
13.8.5.6 Rated capacity footprint
TABLE 272 COMPANY RATED CAPACITY FOOTPRINT
13.8.5.7 Refrigerant footprint
TABLE 273 COMPANY REFRIGERANT FOOTPRINT
13.8.5.8 End user footprint
TABLE 274 COMPANY END USER FOOTPRINT
13.8.5.9 Application footprint
TABLE 275 COMPANY APPLICATION FOOTPRINT
13.9 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
13.9.1 PROGRESSIVE COMPANIES
13.9.2 RESPONSIVE COMPANIES
13.9.3 DYNAMIC COMPANIES
13.9.4 STARTING BLOCKS
FIGURE 56 HEAT PUMP MARKET: COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
13.9.5 COMPETITIVE BENCHMARKING: START-UPS/SMES, 2023
13.9.5.1 List of key start-ups/SMEs
TABLE 276 HEAT PUMP MARKET: LIST OF KEY START-UPS/SMES
13.9.5.2 Regional footprint (Start-ups/SMEs)
TABLE 277 START-UP/SME REGION FOOTPRINT
13.9.5.3 Technology footprint (Start-ups/SMEs)
TABLE 278 START-UP/SME TECHNOLOGY FOOTPRINT
13.9.5.4 Type footprint (Start-ups/SMEs)
TABLE 279 START-UP/SME TYPE FOOTPRINT
13.9.5.5 Rated capacity footprint (Start-ups/SMEs)
TABLE 280 START-UP/SME RATED CAPACITY FOOTPRINT
13.9.5.6 Refrigerant footprint (Start-ups/SMEs)
TABLE 281 START-UP/SME REFRIGERANT FOOTPRINT
13.9.5.7 End user footprint (Start-ups/SMEs)
TABLE 282 START-UP/SME END USER FOOTPRINT
13.9.5.8 Application footprint (Start-ups/SMEs)
TABLE 283 START-UP/SME APPLICATION FOOTPRINT
13.10 BRAND/PRODUCT COMPARISON
FIGURE 57 BRAND/PRODUCT COMPARISON
14 COMPANY PROFILES
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*
14.1 KEY PLAYERS
14.1.1 SAMSUNG
TABLE 284 SAMSUNG: COMPANY OVERVIEW
FIGURE 58 SAMSUNG: COMPANY SNAPSHOT
TABLE 285 SAMSUNG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 286 SAMSUNG: PRODUCT LAUNCHES
TABLE 287 SAMSUNG: DEALS
14.1.2 DENSO CORPORATION
TABLE 288 DENSO CORPORATION: COMPANY OVERVIEW
FIGURE 59 DENSO CORPORATION: COMPANY SNAPSHOT
TABLE 289 DENSO CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 290 DENSO CORPORATION: OTHERS
14.1.3 MIDEA
TABLE 291 MIDEA: COMPANY OVERVIEW
FIGURE 60 MIDEA: COMPANY SNAPSHOT
TABLE 292 MIDEA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 293 MIDEA: PRODUCT LAUNCHES
TABLE 294 MIDEA: DEALS
TABLE 295 MIDEA: OTHERS
14.1.4 PANASONIC HOLDINGS CORPORATION
TABLE 296 PANASONIC HOLDINGS CORPORATION: COMPANY OVERVIEW
FIGURE 61 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT
TABLE 297 PANASONIC HOLDINGS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 298 PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES
TABLE 299 PANASONIC HOLDINGS CORPORATION: DEALS
TABLE 300 PANASONIC HOLDINGS CORPORATION: OTHERS
14.1.5 MITSUBISHI ELECTRIC CORPORATION
TABLE 301 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
FIGURE 62 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 302 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 303 MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES
TABLE 304 MITSUBISHI ELECTRIC CORPORATION: DEALS
TABLE 305 MITSUBISHI ELECTRIC CORPORATION: OTHERS
14.1.6 LG ELECTRONICS
TABLE 306 LG ELECTRONICS: COMPANY OVERVIEW
FIGURE 63 LG ELECTRONICS: COMPANY SNAPSHOT
TABLE 307 LG ELECTRONICS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 308 LG ELECTRONICS: PRODUCT LAUNCHES
TABLE 309 LG ELECTRONICS: DEALS
TABLE 310 LG ELECTRONICS: OTHERS
14.1.7 LENNOX INTERNATIONAL INC.
TABLE 311 LENNOX INTERNATIONAL INC.: COMPANY OVERVIEW
FIGURE 64 LENNOX INTERNATIONAL INC.: COMPANY SNAPSHOT
TABLE 312 LENNOX INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 313 LENNOX INTERNATIONAL INC.: PRODUCT LAUNCHES
TABLE 314 LENNOX INTERNATIONAL INC.: DEALS
14.1.8 FUJITSU GENERAL
TABLE 315 FUJITSU GENERAL: COMPANY OVERVIEW
FIGURE 65 FUJITSU GENERAL: COMPANY SNAPSHOT
TABLE 316 FUJITSU GENERAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 317 FUJITSU GENERAL: DEALS
14.1.9 DAIKIN INDUSTRIES, LTD.
TABLE 318 DAIKIN INDUSTRIES, LTD.: COMPANY OVERVIEW
FIGURE 66 DAIKIN INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 319 DAIKIN INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 320 DAIKIN INDUSTRIES, LTD.: PRODUCT LAUNCHES
TABLE 321 DAIKIN INDUSTRIES, LTD.: OTHERS
14.1.10 CARRIER
TABLE 322 CARRIER: COMPANY OVERVIEW
FIGURE 67 CARRIER: COMPANY SNAPSHOT
TABLE 323 CARRIER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 324 CARRIER: PRODUCT LAUNCHES
TABLE 325 CARRIER: DEALS
TABLE 326 CARRIER: OTHERS
14.1.11 JOHNSON CONTROLS
TABLE 327 JOHNSON CONTROLS: COMPANY OVERVIEW
FIGURE 68 JOHNSON CONTROLS: COMPANY SNAPSHOT
TABLE 328 JOHNSON CONTROLS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 329 JOHNSON CONTROLS: PRODUCT LAUNCHES
TABLE 330 JOHNSON CONTROLS: DEALS
14.1.12 THERMAX LIMITED
TABLE 331 THERMAX LIMITED: COMPANY OVERVIEW
FIGURE 69 THERMAX LIMITED: COMPANY SNAPSHOT
TABLE 332 THERMAX LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 333 THERMAX LIMITED: OTHERS
14.1.13 GEA GROUP AKTIENGESELLSCHAFT
TABLE 334 GEA GROUP AKTIENGESELLSCHAFT: COMPANY OVERVIEW
FIGURE 70 GEA GROUP AKTIENGESELLSCHAFT: COMPANY SNAPSHOT
TABLE 335 GEA GROUP AKTIENGESELLSCHAFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 336 GEA GROUP AKTIENGESELLSCHAFT: OTHERS
14.1.14 TRANE TECHNOLOGIES PLC
TABLE 337 TRANE TECHNOLOGIES PLC: COMPANY OVERVIEW
FIGURE 71 TRANE TECHNOLOGIES PLC: COMPANY SNAPSHOT
TABLE 338 TRANE TECHNOLOGIES PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 339 TRANE TECHNOLOGIES PLC: PRODUCT LAUNCHES
TABLE 340 TRANE TECHNOLOGIES PLC: DEALS
14.1.15 BOSCH THERMOTECHNOLOGY CORP.
TABLE 341 BOSCH THERMOTECHNOLOGY CORP.: COMPANY OVERVIEW
TABLE 342 BOSCH THERMOTECHNOLOGY CORP.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 343 BOSCH THERMOTECHNOLOGY CORP.: PRODUCT LAUNCHES
TABLE 344 BOSCH THERMOTECHNOLOGY CORP.: OTHERS
14.2 OTHER PLAYERS
14.2.1 GUANGZHOU SPRSUN NEW ENERGY TECHNOLOGY DEVELOPMENT CO.,LTD.
14.2.2 GLEN DIMPLEX GROUP
14.2.3 NIBE
14.2.4 RHEEM MANUFACTURING COMPANY
14.2.5 ENERGEN HYBRID SYSTEMS LIMITED
14.2.6 EVO ENERGY TECHNOLOGIES
14.2.7 NAMMASWADESHI
14.2.8 ECO TECH SOLUTIONS
14.2.9 DANDELION
14.2.10 ZEALUX ELECTRIC LIMITED
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
15 APPENDIX
15.1 INSIGHTS FROM INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.4 CUSTOMIZATION OPTIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
