New Zealand Air Source Heat Pump Market By Process (Air to Air, Air to Water), By End Use (Residential, Hotels & Resorts, Gym & Spas, Educational Institutes, Food Service, Others), By Distribution Channel (Direct, Indirect), By Region, Competition, Forecast & Opportunities, 2020-2030F
Market Overview
The New Zealand Air Source Heat Pump Market was valued at USD 9.26 Million in 2024 and is projected t%li%reach USD 13.67 Million by 2030, growing at a CAGR of 6.71% during the forecast period. Market growth is being driven by the country’s high humidity levels, particularly in regions like Auckland where the annual average humidity reaches around 82%, creating strong demand for dehumidifying systems. Air Source Heat Pumps (ASHPs), which feature efficient "dry" and cooling modes, are well-suited t%li%address these conditions while als%li%improving indoor air quality. Government-backed housing developments, including the Mangere project aimed at building up t%li%10,000 new homes, are fueling the need for energy-efficient climate solutions. ASHPs, known for their high performance—producing over five units of heat per unit of electricity—offer a cost-effective and eco-friendly alternative t%li%conventional heating systems. Their compatibility with renewable energy sources such as solar and wind power further aligns with New Zealand’s carbon reduction strategies, contributing t%li%broader market adoption across residential and commercial sectors.
Key Market Drivers
High Humidity Level Across the Region
Elevated humidity levels in many parts of New Zealand, especially in northern and coastal regions like Auckland, are a major factor driving demand for Air Source Heat Pumps. As of 2023, the country has recorded a 1.26°C rise in its annual average temperature, intensifying issues related t%li%moisture and indoor air discomfort. With annual average humidity frequently surpassing 80%, problems such as condensation, mold, and dampness have become common in homes and buildings. Traditional heating systems often fall short in managing these conditions. In contrast, ASHPs offer dual functionality—regulating indoor temperature while operating in dehumidification mode. This makes them especially valuable in maintaining healthier indoor environments and promoting energy efficiency. As public awareness of air quality grows and health-oriented preferences influence consumer choices, ASHPs are increasingly favored for their performance in both comfort control and moisture management.
Key Market Challenges
Lack of Standardized Regulation
A significant hurdle for the New Zealand ASHP market is the absence of unified and comprehensive national standards governing the installation, efficiency, and long-term operation of heat pump systems. The current regulatory landscape lacks cohesion, leading t%li%inconsistent installation quality and variable product performance. This creates challenges for consumers trying t%li%differentiate between high-performing and substandard systems, often resulting in poor purchasing decisions and dissatisfaction. Additionally, improperly installed systems may fail t%li%meet expected energy savings or climate control benefits, negatively impacting consumer perception and slowing overall adoption. The establishment of standardized regulations would provide greater clarity and quality assurance, bolstering consumer trust and supporting the broader goals of energy efficiency and sustainability in the national heating sector.
Key Market Players
In this report, the New Zealand Air Source Heat Pump Market has been segmented int%li%the following categories, in addition t%li%the industry trends which have als%li%been detailed below:
Company Profiles: Detailed analysis of the major companies present in the New Zealand Air Source Heat Pump Market.
Available Customizations:
New Zealand Air Source Heat Pump Market report with the given market data, TechSci Research offers customizations according t%li%a company's specific needs. The following customization options are available for the report:
Company Information
The New Zealand Air Source Heat Pump Market was valued at USD 9.26 Million in 2024 and is projected t%li%reach USD 13.67 Million by 2030, growing at a CAGR of 6.71% during the forecast period. Market growth is being driven by the country’s high humidity levels, particularly in regions like Auckland where the annual average humidity reaches around 82%, creating strong demand for dehumidifying systems. Air Source Heat Pumps (ASHPs), which feature efficient "dry" and cooling modes, are well-suited t%li%address these conditions while als%li%improving indoor air quality. Government-backed housing developments, including the Mangere project aimed at building up t%li%10,000 new homes, are fueling the need for energy-efficient climate solutions. ASHPs, known for their high performance—producing over five units of heat per unit of electricity—offer a cost-effective and eco-friendly alternative t%li%conventional heating systems. Their compatibility with renewable energy sources such as solar and wind power further aligns with New Zealand’s carbon reduction strategies, contributing t%li%broader market adoption across residential and commercial sectors.
Key Market Drivers
High Humidity Level Across the Region
Elevated humidity levels in many parts of New Zealand, especially in northern and coastal regions like Auckland, are a major factor driving demand for Air Source Heat Pumps. As of 2023, the country has recorded a 1.26°C rise in its annual average temperature, intensifying issues related t%li%moisture and indoor air discomfort. With annual average humidity frequently surpassing 80%, problems such as condensation, mold, and dampness have become common in homes and buildings. Traditional heating systems often fall short in managing these conditions. In contrast, ASHPs offer dual functionality—regulating indoor temperature while operating in dehumidification mode. This makes them especially valuable in maintaining healthier indoor environments and promoting energy efficiency. As public awareness of air quality grows and health-oriented preferences influence consumer choices, ASHPs are increasingly favored for their performance in both comfort control and moisture management.
Key Market Challenges
Lack of Standardized Regulation
A significant hurdle for the New Zealand ASHP market is the absence of unified and comprehensive national standards governing the installation, efficiency, and long-term operation of heat pump systems. The current regulatory landscape lacks cohesion, leading t%li%inconsistent installation quality and variable product performance. This creates challenges for consumers trying t%li%differentiate between high-performing and substandard systems, often resulting in poor purchasing decisions and dissatisfaction. Additionally, improperly installed systems may fail t%li%meet expected energy savings or climate control benefits, negatively impacting consumer perception and slowing overall adoption. The establishment of standardized regulations would provide greater clarity and quality assurance, bolstering consumer trust and supporting the broader goals of energy efficiency and sustainability in the national heating sector.
Key Market Players
- Rheem New Zealand Limited
- Daikin Air Conditioning New Zealand Limited
- Black Diamond Leisure Ltd
- Panasonic Asia Pacific Pte., Ltd
- Artimus Limited
- Barilla Ltd
- The Electric Heating Company Ltd
- Enula
- Cinergi Ltd
- G%li%Geothermal Ltd
In this report, the New Zealand Air Source Heat Pump Market has been segmented int%li%the following categories, in addition t%li%the industry trends which have als%li%been detailed below:
- New Zealand Air Source Heat Pump Market, By Process:
- Air t%li%Air
- Air t%li%Water
- New Zealand Air Source Heat Pump Market, By End Use:
- Residential
- Hotels & Resorts
- Gym & Spas
- Educational Institutes
- Food Service
- Others
- New Zealand Air Source Heat Pump Market, By Distribution Channel:
- Direct
- Indirect
- New Zealand Air Source Heat Pump Market, By Region:
- North Island
- South Island
Company Profiles: Detailed analysis of the major companies present in the New Zealand Air Source Heat Pump Market.
Available Customizations:
New Zealand Air Source Heat Pump Market report with the given market data, TechSci Research offers customizations according t%li%a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up t%li%five).
1. INTRODUCTION
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research End Use Considered
2. RESEARCH METHODOLOGY
2.1. Methodology Landscape
2.2. Objective of the Study
2.3. Baseline Methodology
2.4. Formulation of the Scope
2.5. Assumptions and Limitations
2.6. Sources of Research
2.7. Approach for the Market Study
2.8. Methodology Followed for Calculation of Market Size & Market Shares
2.9. Forecasting Methodology
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions
3.5. Overview of Market Drivers, Challenges, and Trends
4. VOICE OF CUSTOMER
4.1. Brand Awareness
4.2. Factor Influencing Availing Decision
5. NEW ZEALAND AIR SOURCE HEAT PUMP MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Process (Air to Air, Air to Water)
5.2.2. By End Use (Residential, Hotels & Resorts, Gym & Spas, Educational Institutes, Food Service, Others)
5.2.3. By Distribution Channel (Direct, Indirect)
5.2.4. By Region
5.2.5. By Company (2024)
5.3. Market Map
6. NEW ZEALAND DIRECT AIR SOURCE HEAT PUMP MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Process
6.2.2. By End Use
7. NEW ZEALAND INDIRECT AIR SOURCE HEAT PUMP MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Process
7.2.2. By End Use
8. MARKET DYNAMICS
8.1. Drivers
8.2. Challenges
9. MARKET TRENDS & DEVELOPMENTS
9.1. Merger & Acquisition (If Any)
9.2. Product Launches (If Any)
9.3. Recent Developments
10. PORTERS FIVE FORCES ANALYSIS
10.1. Competition in the Industry
10.2. Potential of New Entrants
10.3. Power of Suppliers
10.4. Power of Customers
10.5. Threat of Substitute Products
11. NEW ZEALAND ECONOMIC PROFILE
12. POLICY & REGULATORY LANDSCAPE
13. COMPETITIVE LANDSCAPE
13.1. Company Profiles
13.1.1. Rheem New Zealand Limited
13.1.1.1. Business Overview
13.1.1.2. Company Snapshot
13.1.1.3. Products & Services
13.1.1.4. Financials (As Per Availability)
13.1.1.5. Key Market Focus & Geographical Presence
13.1.1.6. Recent Developments
13.1.1.7. Key Management Personnel
13.1.2. Daikin Air Conditioning New Zealand Limited
13.1.3. Black Diamond Leisure Ltd
13.1.4. Panasonic Asia Pacific Pte., Ltd
13.1.5. Artimus Limited
13.1.6. Barilla Ltd
13.1.7. The Electric Heating Company Ltd
13.1.8. Enula
13.1.9. Cinergi Ltd
13.1.10. Go Geothermal Ltd
14. STRATEGIC RECOMMENDATIONS
15. ABOUT US & DISCLAIMER
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research End Use Considered
2. RESEARCH METHODOLOGY
2.1. Methodology Landscape
2.2. Objective of the Study
2.3. Baseline Methodology
2.4. Formulation of the Scope
2.5. Assumptions and Limitations
2.6. Sources of Research
2.7. Approach for the Market Study
2.8. Methodology Followed for Calculation of Market Size & Market Shares
2.9. Forecasting Methodology
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions
3.5. Overview of Market Drivers, Challenges, and Trends
4. VOICE OF CUSTOMER
4.1. Brand Awareness
4.2. Factor Influencing Availing Decision
5. NEW ZEALAND AIR SOURCE HEAT PUMP MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Process (Air to Air, Air to Water)
5.2.2. By End Use (Residential, Hotels & Resorts, Gym & Spas, Educational Institutes, Food Service, Others)
5.2.3. By Distribution Channel (Direct, Indirect)
5.2.4. By Region
5.2.5. By Company (2024)
5.3. Market Map
6. NEW ZEALAND DIRECT AIR SOURCE HEAT PUMP MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Process
6.2.2. By End Use
7. NEW ZEALAND INDIRECT AIR SOURCE HEAT PUMP MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Process
7.2.2. By End Use
8. MARKET DYNAMICS
8.1. Drivers
8.2. Challenges
9. MARKET TRENDS & DEVELOPMENTS
9.1. Merger & Acquisition (If Any)
9.2. Product Launches (If Any)
9.3. Recent Developments
10. PORTERS FIVE FORCES ANALYSIS
10.1. Competition in the Industry
10.2. Potential of New Entrants
10.3. Power of Suppliers
10.4. Power of Customers
10.5. Threat of Substitute Products
11. NEW ZEALAND ECONOMIC PROFILE
12. POLICY & REGULATORY LANDSCAPE
13. COMPETITIVE LANDSCAPE
13.1. Company Profiles
13.1.1. Rheem New Zealand Limited
13.1.1.1. Business Overview
13.1.1.2. Company Snapshot
13.1.1.3. Products & Services
13.1.1.4. Financials (As Per Availability)
13.1.1.5. Key Market Focus & Geographical Presence
13.1.1.6. Recent Developments
13.1.1.7. Key Management Personnel
13.1.2. Daikin Air Conditioning New Zealand Limited
13.1.3. Black Diamond Leisure Ltd
13.1.4. Panasonic Asia Pacific Pte., Ltd
13.1.5. Artimus Limited
13.1.6. Barilla Ltd
13.1.7. The Electric Heating Company Ltd
13.1.8. Enula
13.1.9. Cinergi Ltd
13.1.10. Go Geothermal Ltd
14. STRATEGIC RECOMMENDATIONS
15. ABOUT US & DISCLAIMER
