Global Heat Pumps Market Report 2024

Heat Pumps Global Market Report 2024 – By Product Type (Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source), By Rated Capacity (Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW), By End User (Residential, Commercial, Industrial) – Market Size, Trends, And Global Forecast 2024-2033

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Description Table Of Contents Tables & Figures Market Insights Related Reports

Heat Pumps Market Definition And Segments

Heat pumps refer to an apparatus that moves heat from a cool space to a warm space, making the cool space cooler and the warm space warmer.

The main product types of heat pumps are air source, air-to-air, air-to-water, water source, and ground source. Ground-source heat pumps are highly effective space heating and cooling technologies that extract heat from the ground. The rated capacity is up to 10 kW, 10–20 kW, 20–30 kW, and above 30 kW. The various end-users involved are residential, commercial, and industrial.

The heat pumps market covered in this report is segmented –

1) By Product Type: Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source

2) By Rated Capacity: Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW

3) By End User: Residential, Commercial, Industrial

The heat pumps market size has grown strongly in recent years. It will grow from $115.28 billion in 2023 to $124.75 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to innovations in renewable energy integration, energy crisis and environmental awareness, climate change concerns, urbanization and housing trends, rising energy costs.

The heat pumps market size is expected to see strong growth in the next few years. It will grow to $157.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to growing energy efficiency regulations, climate change mitigation policies, rising energy prices, urbanization and building regulations, consumer demand for sustainable solutions. Major trends in the forecast period include hybrid heat pump systems, decarbonization initiatives, heat pump electrification, smart heat pump technology, cold climate heat pumps.

Government-Led Energy Efficiency Initiatives Drive Heat Pumps Market Growth

Government regulations and policies to improve energy efficiency are boosting demand for renewable energy sources, thereby contributing to the growth of the heat pumps market. Heat pumps offer a low carbon footprint, minimal installation time, and reduce energy consumption in household and industrial applications. Energy efficiency has tremendous potential to boost economic growth and reduce greenhouse gas emissions. The governments of various countries are adopting energy conservation policies. For instance, the UK government formed an Energy Efficiency Office, embracing various departments to monitor, coordinate, and develop energy conservation policies. Moreover, in the USA, all industries consuming more than one million GJ/A (100) are required to report their energy conservation and consumption efforts to the Department of Energy for seeking guidance on greater efficiency of energy use. Therefore, growing efforts to reduce energy usage are likely to propel demand for energy-efficient products, including the growth of the heat pumps market.

Demand For Low Carbon Footprint To Drive Market Growth

Favorable measures to reduce carbon footprints are expected to propel the growth of the heat pumps market going forward. A carbon footprint refers to the total amount of greenhouse gases, primarily carbon dioxide (CO2), and other greenhouse gas equivalents, emitted directly or indirectly by an individual, organization, event, product, or activity over a specific period. Heat pumps are energy efficient and produce fewer carbon emissions compared to conventional heating and cooling systems. Additionally, government incentives, green building standards, and consumer awareness further promote the adoption of heat pumps as a sustainable choice. As individuals, organizations, and governments seek to mitigate climate change and reduce carbon emissions, heat pumps offer an attractive solution for lowering their environmental impact while also benefiting from cost savings and regulatory compliance. For instance, in August 2023, according to the UK government’s official website, in 2021, the UK government launched the Net Zero Innovation Portfolio (NZIP), a $1.37 billion (£1 billion) fund designed to accelerate the commercialization of innovative technologies and processes, thereby advancing decarbonization in the UK and supporting its net zero emissions commitment by 2050. Therefore, favorable measures to reduce carbon footprints are driving the growth of the heat pumps market.

Major companies operating in the heat pumps market report are Robert Bosch GmbH, Hitachi Ltd., United Technologies Corporation, LG Electronics Inc., Panasonic Corporation, Midea Group Corporation, Mitsubishi Electric Corporation, Fujitsu General Limited, Daikin Industries Ltd., Johnson Controls International PLC, Carrier Corporation, Trane Inc., Efficiency Maine Trust, Danfoss A/S, Ingersoll Rand Inc., Flamingo Heat Pumps, Viessmann Werke GmbH & Co. KG, Lennox International Inc., Vaillant Group, NIBE Industrier AB, Glen Dimplex Group, BDR Thermea Group S.p.A., Stiebel Eltron GmbH & Co. KG, Thermax Group, Wolf GmbH, Mayekawa Mfg. Co. Ltd., Enertech Global Corp., Bryant Heating & Cooling LLC, Airwell Group Limited, Emerson Climate Technologies Inc., Samsung Electronics Co. Ltd., Denso Corporation, Bosch Thermotechnology Corporation, Vicinity Energy Systems Inc., MAN Energy Solutions SE

COVID-19 Pandemic Impacts Heat Pumps Market Growth

The COVID-19 outbreak restricted the growth of the heat pumps market. Governments across the world have imposed restrictions on the movement of people, resulting in supply chain disruptions. COVID-19 lockdowns forced many industries to shut down or operate with minimum capacity, hampering the revenues of various industries including the HVAC (heating, ventilation, and air conditioning) industry. For instance, Lennox International Inc., a US-based provider of climate control products for air conditioning, heating, ventilation, and refrigeration, depends heavily on a complex global supply chain. The company has manufacturing facilities in Georgia, Arkansas, Mississippi, and South Carolina, and the company’s network includes local and regional distribution stores and centers. The company is also engaged in selling products through contractors and dealers, therefore COVID-19 lockdown restrictions have impacted Lennox’s ability to deliver its products to customers, thus restraining the market growth of the heat pumps during the period.

Product Innovations Reshaping The Heat Pumps Market

Major companies operating in the heat pumps market are developing new eco-friendly products to gain a competitive edge in the market. Eco-friendly products are designed to reduce energy consumption, greenhouse gas emissions, and overall environmental impact while providing climate control for various applications. For instance, in November 2022, Mitsubishi Electric Corporation, a Japan-based electronics company, launched the Ecodan CAHV-R air source heat pump, which operates with low-GWP R454C refrigerant, making it an eco-friendly solution for both sanitary hot water and space heating in commercial applications. This heat pump system can function as a single unit or as part of a multiple-unit system, offering flexibility for various settings, including schools and hospitals. The Ecodan CAHV-R, with its cascading and rotation capabilities, can efficiently deliver sustainable space heating and hot water year-round, making it a valuable addition to the HVAC industry's offerings. Other key features include reduced embodied carbon, the ability to achieve a 70°C outlet temperature even at -2°C ambient temperature, and an advanced heat exchange design for shorter defrost times. Its low-frequency compressor control and the option to rotate units based on accumulated run hours enhance energy efficiency and product longevity.

Hybrid Heating Systems Becoming A Growing Need In Renewable Home Heating Solutions

Major companies operating in the heat pumps market are developing renewable solutions such as hybrid heating systems to gain a competitive edge in the market. Hybrid heating systems combine two or more heating technologies to optimize energy efficiency and reduce environmental impact. For instance, in January 2023, Alpha Heating Innovation, a UK-based electrical and electronics manufacturing company, launched the E-Tec Hybrid, a hybrid heating system designed to help homeowners transition to renewable heating while retaining the reliability of a gas boiler. This system combines the Alpha E-Tec 33 boiler with an external heat pump unit (Alpha E-Tec EHP) and Smartech controls to provide efficient heating and hot water. The system intelligently selects the most cost-effective energy source based on current energy tariffs and outdoor temperatures. It offers instantaneous hot water, eliminates the need for upgrading the existing heating system, and can be installed in a single day.

Johnson Controls Expands Heat Pump Portfolio With Hybrid Energy As Acquisition

In January 2023, Johnson Controls International PLC, an Ireland-based industrial machinery manufacturing company, acquired Hybrid Energy AS for an undisclosed amount. The acquisition of Hybrid Energy enhanced Johnson Controls' industrial heat pump portfolio, allowing them to provide high-temperature heat pumps with energy-efficient, sustainable solutions to rapidly growing district heating and industrial markets, particularly in Europe, while addressing decarbonization and sustainability goals. Hybrid Energy AS is a Norway-based energy management solutions company that specializes in high-temperature energy management solutions, particularly heat pumps for district heating and industrial processes.

The Asia-Pacific was the largest region in the heat pumps market in 2023. North America was the second largest region in the global heat pumps market share. The regions covered in the heat pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the heat pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The heat pumps market consists of sales of closed loop, open loop and direct expansion ground-source heat pump. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The heat pumps market research report is one of a series of new reports from The Business Research Company that provides heat pumps market statistics, including heat pumps industry global market size, regional shares, competitors with a heat pumps market share, detailed heat pumps market segments, market trends and opportunities, and any further data you may need to thrive in the heat pumps industry. This heat pumps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Heat Pumps Market Report Scope
Report AttributeDetails
Market Size Value In 2024 $124.75 billion
Revenue Forecast In 2033 $157.06 billion
Growth Rate CAGR of 5.9% from 2024 to 2033
Base Year For Estimation 2023
Actual Estimates/Historical Data 2018-2023
Forecast Period 2024 - 2028 - 2033
Market Representation Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered 1) By Product Type: Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source
2) By Rated Capacity: Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW
3) By End User: Residential, Commercial, Industrial
Regional Scope Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Key Companies Profiled Robert Bosch GmbH; Hitachi Ltd.; United Technologies Corporation; LG Electronics Inc.; Panasonic Corporation; Midea Group Corporation; Mitsubishi Electric Corporation; Fujitsu General Limited; Daikin Industries Ltd.; Johnson Controls International PLC; Carrier Corporation; Trane Inc.; Efficiency Maine Trust; Danfoss A/S; Ingersoll Rand Inc.; Flamingo Heat Pumps; Viessmann Werke GmbH & Co. KG; Lennox International Inc.; Vaillant Group; NIBE Industrier AB; Glen Dimplex Group; BDR Thermea Group S.p.A.; Stiebel Eltron GmbH & Co. KG; Thermax Group; Wolf GmbH; Mayekawa Mfg. Co. Ltd.; Enertech Global Corp.; Bryant Heating & Cooling LLC; Airwell Group Limited; Emerson Climate Technologies Inc.; Samsung Electronics Co. Ltd.; Denso Corporation; Bosch Thermotechnology Corporation; Vicinity Energy Systems Inc.; MAN Energy Solutions SE
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    Table Of Contents

    1. Executive Summary

    2. Heat Pumps Market Characteristics

    3. Heat Pumps Market Trends And Strategies

    4. Heat Pumps Market - Macro Economic Scenario

    4.1. Impact Of High Inflation On The Market

    4.2. Ukraine-Russia War Impact On The Market

    4.3. COVID-19 Impact On The Market

    5. Global Heat Pumps Market Size and Growth

    5.1. Global Heat Pumps Market Drivers and Restraints

    5.1.1. Drivers Of The Market

    5.1.2. Restraints Of The Market

    5.2. Global Heat Pumps Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

    5.3. Global Heat Pumps Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

    6. Heat Pumps Market Segmentation

    6.1. Global Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Air Source

    Air-to-Air

    Air-to-Water

    Water Source

    Ground Source

    6.2. Global Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Up to 10 kW

    10–20 kW

    20–30 kW

    Above 30 kW

    6.3. Global Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Residential

    Commercial

    Industrial

    7. Heat Pumps Market Regional And Country Analysis

    7.1. Global Heat Pumps Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    7.2. Global Heat Pumps Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8. Asia-Pacific Heat Pumps Market

    8.1. Asia-Pacific Heat Pumps Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.3. Asia-Pacific Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.4. Asia-Pacific Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    9. China Heat Pumps Market

    9.1. China Heat Pumps Market Overview

    9.2. China Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    9.3. China Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    9.4. China Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    10. India Heat Pumps Market

    10.1. India Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    10.2. India Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    10.3. India Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11. Japan Heat Pumps Market

    11.1. Japan Heat Pumps Market Overview

    11.2. Japan Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11.3. Japan Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11.4. Japan Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12. Australia Heat Pumps Market

    12.1. Australia Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12.2. Australia Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12.3. Australia Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13. Indonesia Heat Pumps Market

    13.1. Indonesia Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13.2. Indonesia Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13.3. Indonesia Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14. South Korea Heat Pumps Market

    14.1. South Korea Heat Pumps Market Overview

    14.2. South Korea Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14.3. South Korea Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14.4. South Korea Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15. Western Europe Heat Pumps Market

    15.1. Western Europe Heat Pumps Market Overview

    15.2. Western Europe Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15.3. Western Europe Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15.4. Western Europe Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16. UK Heat Pumps Market

    16.1. UK Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16.2. UK Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16.3. UK Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17. Germany Heat Pumps Market

    17.1. Germany Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17.2. Germany Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17.3. Germany Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18. France Heat Pumps Market

    18.1. France Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.2. France Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.3. France Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19. Italy Heat Pumps Market

    19.1. Italy Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.2. Italy Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.3. Italy Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20. Spain Heat Pumps Market

    20.1. Spain Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.2. Spain Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.3. Spain Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21. Eastern Europe Heat Pumps Market

    21.1. Eastern Europe Heat Pumps Market Overview

    21.2. Eastern Europe Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21.3. Eastern Europe Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21.4. Eastern Europe Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22. Russia Heat Pumps Market

    22.1. Russia Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22.2. Russia Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22.3. Russia Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23. North America Heat Pumps Market

    23.1. North America Heat Pumps Market Overview

    23.2. North America Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23.3. North America Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23.4. North America Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24. USA Heat Pumps Market

    24.1. USA Heat Pumps Market Overview

    24.2. USA Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24.3. USA Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24.4. USA Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25. Canada Heat Pumps Market

    25.1. Canada Heat Pumps Market Overview

    25.2. Canada Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25.3. Canada Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25.4. Canada Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26. South America Heat Pumps Market

    26.1. South America Heat Pumps Market Overview

    26.2. South America Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26.3. South America Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26.4. South America Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27. Brazil Heat Pumps Market

    27.1. Brazil Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27.2. Brazil Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27.3. Brazil Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28. Middle East Heat Pumps Market

    28.1. Middle East Heat Pumps Market Overview

    28.2. Middle East Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28.3. Middle East Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28.4. Middle East Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29. Africa Heat Pumps Market

    29.1. Africa Heat Pumps Market Overview

    29.2. Africa Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29.3. Africa Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29.4. Africa Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    30. Heat Pumps Market Competitive Landscape And Company Profiles

    30.1. Heat Pumps Market Competitive Landscape

    30.2. Heat Pumps Market Company Profiles

    30.2.1. Robert Bosch GmbH

    30.2.1.1. Overview

    30.2.1.2. Products and Services

    30.2.1.3. Strategy

    30.2.1.4. Financial Performance

    30.2.2. Hitachi Ltd.

    30.2.2.1. Overview

    30.2.2.2. Products and Services

    30.2.2.3. Strategy

    30.2.2.4. Financial Performance

    30.2.3. United Technologies Corporation

    30.2.3.1. Overview

    30.2.3.2. Products and Services

    30.2.3.3. Strategy

    30.2.3.4. Financial Performance

    30.2.4. LG Electronics Inc.

    30.2.4.1. Overview

    30.2.4.2. Products and Services

    30.2.4.3. Strategy

    30.2.4.4. Financial Performance

    30.2.5. Panasonic Corporation

    30.2.5.1. Overview

    30.2.5.2. Products and Services

    30.2.5.3. Strategy

    30.2.5.4. Financial Performance

    31. Heat Pumps Market Other Major And Innovative Companies

    31.1. Midea Group Corporation

    31.2. Mitsubishi Electric Corporation

    31.3. Fujitsu General Limited

    31.4. Daikin Industries Ltd.

    31.5. Johnson Controls International PLC

    31.6. Carrier Corporation

    31.7. Trane Inc.

    31.8. Efficiency Maine Trust

    31.9. Danfoss A/S

    31.10. Ingersoll Rand Inc.

    31.11. Flamingo Heat Pumps

    31.12. Viessmann Werke GmbH & Co. KG

    31.13. Lennox International Inc.

    31.14. Vaillant Group

    31.15. NIBE Industrier AB

    32. Global Heat Pumps Market Competitive Benchmarking

    33. Global Heat Pumps Market Competitive Dashboard

    34. Key Mergers And Acquisitions In The Heat Pumps Market

    35. Heat Pumps Market Future Outlook and Potential Analysis

    35.1 Heat Pumps Market In 2028 - Countries Offering Most New Opportunities

    35.2 Heat Pumps Market In 2028 - Segments Offering Most New Opportunities

    35.3 Heat Pumps Market In 2028 - Growth Strategies

    35.3.1 Market Trend Based Strategies

    35.3.2 Competitor Strategies

    36. Appendix

    36.1. Abbreviations

    36.2. Currencies

    36.3. Historic And Forecast Inflation Rates

    36.4. Research Inquiries

    36.5. The Business Research Company

    36.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2018-2023, $ Billion
  • Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
  • Table 3: Global Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 4: Global Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 5: Global Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 6: Global Heat Pumps Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 7: Global Heat Pumps Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 8: Asia-Pacific, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 9: Asia-Pacific, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 10: Asia-Pacific, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 11: China, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 12: China, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 13: China, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 14: India, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 15: India, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 16: India, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 17: Japan, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 18: Japan, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 19: Japan, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 20: Australia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 21: Australia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 22: Australia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 23: Indonesia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 24: Indonesia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 25: Indonesia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 26: South Korea, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 27: South Korea, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 28: South Korea, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 29: Western Europe, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 30: Western Europe, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 31: Western Europe, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 32: UK, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 33: UK, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 34: UK, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 35: Germany, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 36: Germany, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 37: Germany, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 38: France, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 39: France, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 40: France, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 41: Italy, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 42: Italy, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 43: Italy, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 44: Spain, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 45: Spain, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 46: Spain, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 47: Eastern Europe, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 48: Eastern Europe, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 49: Eastern Europe, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 50: Russia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 51: Russia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 52: Russia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 53: North America, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 54: North America, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 55: North America, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 56: USA, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 57: USA, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 58: USA, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 59: Canada, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 60: Canada, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 61: Canada, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 62: South America, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 63: South America, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 64: South America, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 65: Brazil, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 66: Brazil, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 67: Brazil, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 68: Middle East, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 69: Middle East, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 70: Middle East, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 71: Africa, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 72: Africa, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 73: Africa, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 74: Robert Bosch GmbH Financial Performance
  • Table 75: Hitachi Ltd. Financial Performance
  • Table 76: United Technologies Corporation Financial Performance
  • Table 77: LG Electronics Inc. Financial Performance
  • Table 78: Panasonic Corporation Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2018-2023, $ Billion
  • Figure 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
  • Figure 3: Global Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 4: Global Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 5: Global Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 6: Global Heat Pumps Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 7: Global Heat Pumps Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 8: Asia-Pacific, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 9: Asia-Pacific, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 10: Asia-Pacific, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 11: China, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 12: China, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 13: China, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 14: India, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 15: India, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 16: India, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 17: Japan, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 18: Japan, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 19: Japan, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 20: Australia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 21: Australia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 22: Australia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 23: Indonesia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 24: Indonesia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 25: Indonesia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 26: South Korea, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 27: South Korea, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 28: South Korea, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 29: Western Europe, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 30: Western Europe, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 31: Western Europe, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 32: UK, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 33: UK, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 34: UK, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 35: Germany, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 36: Germany, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 37: Germany, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 38: France, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 39: France, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 40: France, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 41: Italy, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 42: Italy, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 43: Italy, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 44: Spain, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 45: Spain, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 46: Spain, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 47: Eastern Europe, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 48: Eastern Europe, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 49: Eastern Europe, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 50: Russia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 51: Russia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 52: Russia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 53: North America, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 54: North America, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 55: North America, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 56: USA, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 57: USA, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 58: USA, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 59: Canada, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 60: Canada, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 61: Canada, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 62: South America, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 63: South America, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 64: South America, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 65: Brazil, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 66: Brazil, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 67: Brazil, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 68: Middle East, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 69: Middle East, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 70: Middle East, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 71: Africa, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 72: Africa, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 73: Africa, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 74: Robert Bosch GmbH Financial Performance
  • Figure 75: Hitachi Ltd. Financial Performance
  • Figure 76: United Technologies Corporation Financial Performance
  • Figure 77: LG Electronics Inc. Financial Performance
  • Figure 78: Panasonic Corporation Financial Performance
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Frequently Asked Questions

What is the definition of the heat pumps market?

Heat pumps refer to an apparatus that move heat from a cool space to a warm space, making the cool space cooler and the warm space warmer. For further insights on the heat pumps market, request a sample here

How will the heat pumps market drivers and restraints affect the heat pumps market dynamics? What forces will shape the heat pumps industry going forward?

The heat pumps market growth is aided by government regulations and policies to improve energy efficiency. However, some heat pumps market restraints include the COVID-19 outbreak. For further insights on the heat pumps market, request a sample here

What is the forecast market size or the forecast market value of the heat pumps market?

The heat pumps market is expected to reach $160.04 billion in 2027 at a rate of 5.8%. For further insights on the heat pumps market, request a sample here

How is the heat pumps market segmented?

The global heat pumps market is segmented as
1) By Product Type: Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source
2) By Rated Capacity: Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW
3) By End User: Residential, Commercial, Industrial
For further insights on the heat pumps market, request a sample here

Which region has the largest share of the heat pumps market? What are the largest region's market size and growth rate?

Asia-Pacific was the largest region in the heat pumps market in 2022. For detailed insights on the largest region's market size and growth rate, request a sample here.

Who are the major players in the heat pumps market?

Key competitors in the heat pumps market are, Daikin Industries Ltd., Carrier, NIBE, Mitsubishi Electric Corporation, LG, Johnson Controls, Hitachi, Robert Bosch GmbH, Stiebel Eltron, Ingersoll Rand, Glen Dimplex, The Viessmann Group, The Vaillant Group, Midea Group, Panasonic, Danfoss, United Technologies Corporation, WOLF, Flamingo Heat Pumps, Lennox, BDR Thermea Group, Mayekawa, Thermax Group, FUJITSU GENERAL. For further insights on the heat pumps market, request a sample here.

What are the key trends in the heat pumps market?

Major trends influencing the heat pumps market include focusing on developing new technology for cost-effective heating. The heat pump manufacturers are developing new pump technology including contractor-friendly designs, higher efficiencies, and innovative two-stage compressors that run at lower speeds, consume less energy, and are cost-effective. For further insights on the heat pumps market, request a sample here.

What are the major opportunities in the heat pumps market? What are the strategies for the heat pumps market?

For detailed insights on the major opportunities and strategies in the heat pumps market, request a sample here.

How does the heat pumps market relate to the overall economy and other similar markets?

For detailed insights on heat pumps market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the heat pumps industry?

For detailed insights on the mergers and acquisitions in the heat pumps industry, request a sample here.

What are the key dynamics influencing the heat pumps market growth? SWOT analysis of the heat pumps market.

For detailed insights on the key dynamics influencing the heat pumps market growth and SWOT analysis of the heat pumps industry, request a sample here.