Global Residential Heat Pump Market Report 2024

Residential Heat Pump Global Market Report 2024 – By Type (Water Source, Geothermal, Air Source), By Power Source (Electric Powered, Gas Powered, Other Power Sources), By Application (Single Family, Multi Family) – Market Size, Trends, And Global Forecast 2024-2033

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Residential Heat Pump Market Definition And Segments

Residential heat pumps are energy-efficient systems that offer heating and cooling capabilities by transferring heat between indoor and outdoor environments, effectively controlling indoor temperatures for comfort in homes and buildings. Heat pumps can be connected to a tank to produce sanitary hot water or provide flexibility in hydronic systems.

The main types of residential heat pumps are water source, geothermal, and air source. A water source heat pump (WSHP) is a kind of heat pump that takes thermal energy from a nearby water source and transforms it into heat and hot water for the building. The various power sources are electric-powered, gas-powered, and others applied in single-family and multi-family.

The residential heat pump market covered in this report is segmented –

1) By Type: Water Source, Geothermal, Air Source

2) By Power Source: Electric Powered, Gas Powered, Other Power Sources

3) By Application: Single Family, Multi Family

The residential heat pump market size has grown rapidly in recent years. It will grow from $36.51 billion in 2023 to $41 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to energy efficiency regulations, rising energy costs, environmental awareness, market competitiveness, global warming concerns, urbanization.

The residential heat pump market size is expected to see rapid growth in the next few years. It will grow to $62.45 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to economic growth, carbon neutrality initiatives, climate change mitigation policies, rise in new construction, population growth in urban areas, energy storage solutions. Major trends in the forecast period include integration with smart home systems, adoption of air-source heat pumps, geothermal heat pump installations, hybrid heat pump systems, advancements in heat pump technology.

The Renewable Energy Adoption Fueling Growth In The Residential Heat Pump Market

The increasing demand for renewable energy is expected to boost the growth of the residential heat pump market going forward. Renewable energy is derived from natural sources that replenish themselves at a rate exceeding consumption. Heat pumps can be fueled by renewable energy sources such as solar panels or wind turbines, enhancing the sustainability for residential heating and cooling compared to conventional fossil fuel-based devices. For instance, in April 2023, according to a report published by the National Renewable Energy Laboratory (NREL), a US-based research institution dedicated to advancing renewable energy and energy efficiency technologies, global photovoltaic (PV) installations reached 231 gigawatts of direct current (GWdc), totaling 1.2 terawatts of direct current (TWdc) cumulatively in 2022. China's annual PV installations surged by 57%, accounting for 42% of global demand, primarily driven by distributed PV, while annual installations are forecast to exceed 300 GW by 2023 and surpass 400 GW by 2025. Therefore, the increasing demand for renewable energy is driving the growth of the residential heat pump market.

Smart Homes Driving The Surge In Residential Heat Pump Market Growth

The increasing demand for smart homes is expected to propel the growth of the residential heat pump market going forward. Smart homes refer to a residence equipped with various devices and systems that are interconnected and controlled remotely or automatically to enhance the home's convenience, efficiency, security, and functionality. Residential heat pumps can be integral to a smart home ecosystem, contributing to energy efficiency, comfort, and convenience. Smart homes aim to optimize energy usage, and heat pumps play a significant role in achieving this goal. For instance, in February 2023, according to Bankless Times, a Canada-based online publication, there should be 63.43 million smart houses in the United States, an increase of 10.2%. This would enable the country to have 69.91 million smart homes by 2024 and 77.05 million by 2025. Therefore, the increasing demand for smart homes is driving the growth of the residential heat pump market.

Major companies operating in the residential heat pump market report are Mitsubishi Corporation, LG Electronics Inc., Midea Group, Fujitsu Limited, Johnson Controls International PLC, Carrier Global Corporation, Trane Technologies, Melrose Industries PLC, Danfoss A/S, Lennox International Inc., The Viessmann Group, NIBE Group, Vaillant Group, A. O. Smith Corporation, American Standard Companies, Delonghi-Climaveneta GSHP, Daikin Industries Ltd., WeatherKing & Rheem Manufacturing Company, Baxi Heating UK Ltd., Lochinvar Limited, Armstrong Air Conditioning Inc., Stiebel Eltron AG, Aermec UK Ltd., Enertech Group, Bosch Thermotechnik GmbH, IMS Heat Pumps Limited, MHG Heating Ltd., Glen Dimplex Heating & Ventilation, Heat Norfolk Ltd., Kensa Heat Pumps Limited

Low Awareness Hinders Growth Of Heat Pump Market In Emerging Economies

The lack of awareness regarding the advantages of heat pumps in emerging economies can act as a challenge and may restrain the market's growth during the forecast period. This can hinder the development of the market as potential customers may not be familiar with the benefits of heat pumps, such as increased energy efficiency and reduced energy costs. For instance, in September 2021, according to the International Energy Agency, a France-based international energy forum, the awareness and acceptance of heat pumps were low in many countries, even though they were well-known and adopted by end-users in some mature markets. Therefore, the lack of awareness is hindering the growth of the residential heat pump market.

Innovative Products Driving Customer Satisfaction In The Residential Heat Pump Market

Major companies operating in the residential heat pump market focus on developing innovative products, such as propane heat pumps, to provide reliable customer service. A propane heat pump is a heating and cooling system that uses propane as the refrigerant, which works by transferring heat from the outside air to the inside air in the winter and from the inside air to the outside air in the summer. For instance, in June 2023, Panasonic Holdings Corporation, a Japan-based manufacturer of electronic components, launched the Aquarea L heat pump series. The Aquarea L series is a line of air-to-water heat pumps using propane (R290) as the refrigerant for residential applications. It is designed with inverter compressor technology that allows the compressor to adjust its speed to match the demand for heat or cooling, which helps to improve efficiency. It is installed with Aquarea Smart Cloud technology, a cloud-based service allowing one to remotely control the heat pump from a smartphone or tablet.

Carrier Global Acquires Viessmann Climate Solutions To Expand European Reach

In May 2023, Carrier Global Corporation, a US-based commercial and transport refrigeration solutions manufacturer, acquired Viessmann Climate Solutions SE for $13.2 billion. Through the acquisition, Carrier is expected to strengthen and accelerate its intelligent climate and energy transition solutions and expand into Europe’s commercial sector. Viessmann Climate Solutions SE is a Germany-based manufacturer of heat pumps for residential and commercial buildings.

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

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

The residential heat pump market consists of revenues earned by entities by providing services such as heat pump repair, installation, and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The residential heat pump market also includes sales of compressors, condensers, evaporators, refrigerants, accumulators, thermostats, motors, defrost systems, and refrigeration coils. 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 residential heat pump market research report is one of a series of new reports from The Business Research Company that provides residential heat pump market statistics, including residential heat pump industry global market size, regional shares, competitors with a residential heat pump market share, detailed residential heat pump market segments, market trends and opportunities, and any further data you may need to thrive in the residential heat pump industry. This residential heat pump market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Residential Heat Pump Market Report Scope
Report AttributeDetails
Market Size Value In 2024 $41 billion
Revenue Forecast In 2033 $62.45 billion
Growth Rate CAGR of 11.1% 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 Type: Water Source, Geothermal, Air Source
2) By Power Source: Electric Powered, Gas Powered, Other Power Sources
3) By Application: Single Family, Multi Family
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 Mitsubishi Corporation; LG Electronics Inc.; Midea Group; Fujitsu Limited; Johnson Controls International plc; Carrier Global Corporation; Trane Technologies; Melrose Industries PLC; Danfoss A/S; Lennox International Inc.; The Viessmann Group; NIBE Group; Vaillant Group; A. O. Smith Corporation; American Standard Companies; Delonghi-Climaveneta GSHP; Daikin Industries Ltd.; WeatherKing & Rheem Manufacturing Company; Baxi Heating UK Ltd.; Lochinvar Limited; Armstrong Air Conditioning Inc.; Stiebel Eltron AG; Aermec UK Ltd.; Enertech Group; Bosch Thermotechnik GmbH; IMS Heat Pumps Limited; MHG Heating Ltd.; Glen Dimplex Heating & Ventilation; Heat Norfolk Ltd.; Kensa Heat Pumps Limited
Customization ScopeRequest for Sample
Pricing And Purchase OptionsExplore Purchase Options

    Table Of Contents

    1. Executive Summary

    2. Residential Heat Pump Market Characteristics

    3. Residential Heat Pump Market Trends And Strategies

    4. Residential Heat Pump 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 Residential Heat Pump Market Size and Growth

    5.1. Global Residential Heat Pump Market Drivers and Restraints

    5.1.1. Drivers Of The Market

    5.1.2. Restraints Of The Market

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

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

    6. Residential Heat Pump Market Segmentation

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

    Water Source

    Geothermal

    Air Source

    6.2. Global Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Electric Powered

    Gas Powered

    Other Power Sources

    6.3. Global Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Single Family

    Multi Family

    7. Residential Heat Pump Market Regional And Country Analysis

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

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

    8. Asia-Pacific Residential Heat Pump Market

    8.1. Asia-Pacific Residential Heat Pump 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 Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.3. Asia-Pacific Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.4. Asia-Pacific Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    9. China Residential Heat Pump Market

    9.1. China Residential Heat Pump Market Overview

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

    9.3. China Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    9.4. China Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    10. India Residential Heat Pump Market

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

    10.2. India Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    10.3. India Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11. Japan Residential Heat Pump Market

    11.1. Japan Residential Heat Pump Market Overview

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

    11.3. Japan Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11.4. Japan Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12. Australia Residential Heat Pump Market

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

    12.2. Australia Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12.3. Australia Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13. Indonesia Residential Heat Pump Market

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

    13.2. Indonesia Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13.3. Indonesia Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14. South Korea Residential Heat Pump Market

    14.1. South Korea Residential Heat Pump Market Overview

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

    14.3. South Korea Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14.4. South Korea Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15. Western Europe Residential Heat Pump Market

    15.1. Western Europe Residential Heat Pump Market Overview

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

    15.3. Western Europe Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15.4. Western Europe Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16. UK Residential Heat Pump Market

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

    16.2. UK Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16.3. UK Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17. Germany Residential Heat Pump Market

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

    17.2. Germany Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17.3. Germany Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18. France Residential Heat Pump Market

    18.5. France Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.6. France Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.7. France Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19. Italy Residential Heat Pump Market

    19.9. Italy Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.10. Italy Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.11. Italy Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20. Spain Residential Heat Pump Market

    20.13. Spain Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.14. Spain Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.15. Spain Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21. Eastern Europe Residential Heat Pump Market

    21.1. Eastern Europe Residential Heat Pump Market Overview

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

    21.3. Eastern Europe Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21.4. Eastern Europe Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22. Russia Residential Heat Pump Market

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

    22.2. Russia Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22.3. Russia Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23. North America Residential Heat Pump Market

    23.1. North America Residential Heat Pump Market Overview

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

    23.3. North America Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23.4. North America Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24. USA Residential Heat Pump Market

    24.1. USA Residential Heat Pump Market Overview

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

    24.3. USA Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24.4. USA Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25. Canada Residential Heat Pump Market

    25.1. Canada Residential Heat Pump Market Overview

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

    25.3. Canada Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25.4. Canada Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26. South America Residential Heat Pump Market

    26.1. South America Residential Heat Pump Market Overview

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

    26.3. South America Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26.4. South America Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27. Brazil Residential Heat Pump Market

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

    27.2. Brazil Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27.3. Brazil Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28. Middle East Residential Heat Pump Market

    28.1. Middle East Residential Heat Pump Market Overview

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

    28.3. Middle East Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28.4. Middle East Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29. Africa Residential Heat Pump Market

    29.1. Africa Residential Heat Pump Market Overview

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

    29.3. Africa Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29.4. Africa Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    30. Residential Heat Pump Market Competitive Landscape And Company Profiles

    30.1. Residential Heat Pump Market Competitive Landscape

    30.2. Residential Heat Pump Market Company Profiles

    30.2.1. Mitsubishi Corporation

    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. LG Electronics Inc.

    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. Midea Group

    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. Fujitsu Limited

    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. Johnson Controls International plc

    30.2.5.1. Overview

    30.2.5.2. Products and Services

    30.2.5.3. Strategy

    30.2.5.4. Financial Performance

    31. Residential Heat Pump Market Other Major And Innovative Companies

    31.1. Carrier Global Corporation

    31.2. Trane Technologies

    31.3. Melrose Industries PLC

    31.4. Danfoss A/S

    31.5. Lennox International Inc.

    31.6. The Viessmann Group

    31.7. NIBE Group

    31.8. Vaillant Group

    31.9. A. O. Smith Corporation

    31.10. American Standard Companies

    31.11. Delonghi-Climaveneta GSHP

    31.12. Daikin Industries Ltd.

    31.13. WeatherKing & Rheem Manufacturing Company

    31.14. Baxi Heating UK Ltd.

    31.15. Lochinvar Limited

    32. Global Residential Heat Pump Market Competitive Benchmarking

    33. Global Residential Heat Pump Market Competitive Dashboard

    34. Key Mergers And Acquisitions In The Residential Heat Pump Market

    35. Residential Heat Pump Market Future Outlook and Potential Analysis

    35.1 Residential Heat Pump Market In 2028 - Countries Offering Most New Opportunities

    35.2 Residential Heat Pump Market In 2028 - Segments Offering Most New Opportunities

    35.3 Residential Heat Pump 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 Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 4: Global Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 5: Global Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 6: Global Residential Heat Pump Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 7: Global Residential Heat Pump Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 8: Asia-Pacific, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 9: Asia-Pacific, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 10: Asia-Pacific, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 11: China, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 12: China, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 13: China, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 14: India, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 15: India, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 16: India, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 17: Japan, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 18: Japan, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 19: Japan, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 20: Australia, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 21: Australia, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 22: Australia, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 23: Indonesia, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 24: Indonesia, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 25: Indonesia, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 26: South Korea, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 27: South Korea, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 28: South Korea, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 29: Western Europe, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 30: Western Europe, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 31: Western Europe, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 32: UK, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 33: UK, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 34: UK, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 35: Germany, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 36: Germany, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 37: Germany, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 38: France, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 39: France, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 40: France, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 41: Italy, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 42: Italy, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 43: Italy, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 44: Spain, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 45: Spain, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 46: Spain, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 47: Eastern Europe, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 48: Eastern Europe, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 49: Eastern Europe, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 50: Russia, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 51: Russia, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 52: Russia, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 53: North America, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 54: North America, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 55: North America, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 56: USA, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 57: USA, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 58: USA, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 59: Canada, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 60: Canada, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 61: Canada, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 62: South America, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 63: South America, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 64: South America, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 65: Brazil, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 66: Brazil, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 67: Brazil, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 68: Middle East, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 69: Middle East, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 70: Middle East, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 71: Africa, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 72: Africa, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 73: Africa, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 74: Mitsubishi Corporation Financial Performance
  • Table 75: LG Electronics Inc. Financial Performance
  • Table 76: Midea Group Financial Performance
  • Table 77: Fujitsu Limited Financial Performance
  • Table 78: Johnson Controls International plc 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 Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 4: Global Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 5: Global Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 6: Global Residential Heat Pump Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 7: Global Residential Heat Pump Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 8: Asia-Pacific, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 9: Asia-Pacific, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 10: Asia-Pacific, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 11: China, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 12: China, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 13: China, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 14: India, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 15: India, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 16: India, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 17: Japan, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 18: Japan, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 19: Japan, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 20: Australia, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 21: Australia, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 22: Australia, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 23: Indonesia, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 24: Indonesia, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 25: Indonesia, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 26: South Korea, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 27: South Korea, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 28: South Korea, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 29: Western Europe, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 30: Western Europe, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 31: Western Europe, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 32: UK, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 33: UK, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 34: UK, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 35: Germany, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 36: Germany, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 37: Germany, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 38: France, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 39: France, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 40: France, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 41: Italy, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 42: Italy, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 43: Italy, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 44: Spain, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 45: Spain, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 46: Spain, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 47: Eastern Europe, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 48: Eastern Europe, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 49: Eastern Europe, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 50: Russia, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 51: Russia, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 52: Russia, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 53: North America, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 54: North America, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 55: North America, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 56: USA, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 57: USA, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 58: USA, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 59: Canada, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 60: Canada, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 61: Canada, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 62: South America, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 63: South America, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 64: South America, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 65: Brazil, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 66: Brazil, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 67: Brazil, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 68: Middle East, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 69: Middle East, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 70: Middle East, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 71: Africa, Residential Heat Pump Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 72: Africa, Residential Heat Pump Market, Segmentation By Power Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 73: Africa, Residential Heat Pump Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 74: Mitsubishi Corporation Financial Performance
  • Figure 75: LG Electronics Inc. Financial Performance
  • Figure 76: Midea Group Financial Performance
  • Figure 77: Fujitsu Limited Financial Performance
  • Figure 78: Johnson Controls International plc Financial Performance
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Frequently Asked Questions

What is the definition of the residential heat pump market?

Residential heat pumps are energy-efficient systems that offer heating and cooling capabilities by transferring heat between indoor and outdoor environments, effectively controlling indoor temperatures for comfort in homes and buildings. Heat pumps can be connected to a tank to produce sanitary hot water or provide flexibility in hydronic systems. For further insights on the residential heat pump market, request a sample here

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

The residential heat pump market major growth driver - the renewable energy adoption fueling growth in the residential heat pump market. For further insights on the residential heat pump market, request a sample here

What is the forecast market size or the forecast market value of the residential heat pump market?

The residential heat pump market size has grown rapidly in recent years. It will grow from $36.51 billion in 2023 to $41 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to energy efficiency regulations, rising energy costs, environmental awareness, market competitiveness, global warming concerns, urbanization.. The residential heat pump market size is expected to see rapid growth in the next few years. It will grow to $62.45 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to economic growth, carbon neutrality initiatives, climate change mitigation policies, rise in new construction, population growth in urban areas, energy storage solutions.. Major trends in the forecast period include integration with smart home systems, adoption of air-source heat pumps, geothermal heat pump installations, hybrid heat pump systems, advancements in heat pump technology.. For further insights on the residential heat pump market, request a sample here

How is the residential heat pump market segmented?

The residential heat pump market is segmented
1) By Type: Water Source, Geothermal, Air Source
2) By Power Source: Electric Powered, Gas Powered, Other Power Sources
3) By Application: Single Family, Multi FamilyFor further insights on the residential heat pump market, request a sample here

Which region has the largest share of the residential heat pump market? What are the other regions covered in the report?

Asia-Pacific was the largest region in the residential heat pump market in 2023. The regions covered in the residential heat pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa For further insights on the residential heat pump market, request a sample here.

Who are the major players in the residential heat pump market?

Major companies operating in the residential heat pump market report are Mitsubishi Corporation, LG Electronics Inc., Midea Group, Fujitsu Limited, Johnson Controls International plc, Carrier Global Corporation, Trane Technologies, Melrose Industries PLC, Danfoss A/S, Lennox International Inc., The Viessmann Group, NIBE Group, Vaillant Group, A. O. Smith Corporation, American Standard Companies, Delonghi-Climaveneta GSHP, Daikin Industries Ltd., WeatherKing & Rheem Manufacturing Company, Baxi Heating UK Ltd., Lochinvar Limited, Armstrong Air Conditioning Inc., Stiebel Eltron AG, Aermec UK Ltd., Enertech Group, Bosch Thermotechnik GmbH, IMS Heat Pumps Limited, MHG Heating Ltd., Glen Dimplex Heating & Ventilation, Heat Norfolk Ltd., Kensa Heat Pumps Limited For further insights on the residential heat pump market, request a sample here.

What are the key trends in the residential heat pump market?

Major trend in the residential heat pump market - Innovative Products Driving Customer Satisfaction In The Residential Heat Pump Market. For further insights on the residential heat pump market, request a sample here.

What are the major opportunities in the residential heat pump market? What are the strategies for the residential heat pump market?

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

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

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

What are the latest mergers and acquisitions in the residential heat pump industry?

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

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

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