The global heat pump market is anticipated to reach market size of around US$ 136 Bn by 2027 and is anticipated to grow at a CAGR of around 11% in terms of revenue during the forecast period 2020 – 2027.
Heat pump is a heating system that transfers energy from the heating source to the endpoint i.e. heat sink. Thermal pumps transfer thermal energy in the opposite direction by collecting heat from a cold room and transferring it into a cooler one. There are four major components in the common configuration of the heat pump they are condenser, valve extension, evaporating valve and compressor. The heat pump also has domestic uses including kitchen hot water, toilets, washing area, and others.
Market Insights
The increase in the construction and housing sector for multi-unit and single-unit is expected to raise demand for heat pumps over the forecast period. Increasing customer buying preference are expected to raise the profits of restaurants and other companies, which are expected to further increase demand for these commercially operated pumps. The other factors that are likely to drive the growth of global heat pumps market is due to increasing carbon emission lead to the usage of consumers to use renewable heat sources. The U.S. government provides other benefits when these pumps are installed. The government also provides direct benefits for its deployment that are expected to fuel demand for the product over the projected period. The market over the forecast period is expected to be propelled by increasing demand for energy-efficient goods. Rising energy consumption in the residential and industrial sectors is expected to improve energy-saving products and technologies, reducing operating costs and increasing energy savings.
Application of heat pump in residential sector accounts to hold the major market share in 2019. The cooling season and cooling solutions in hot days were motivated by climate change as a primary driving force in implementing heat pumps. Highly energy efficient heat pumps are used for the generation of power, cooling and hot water at dwellings. However, the use of a heat pump in the residential sector is driven additionally by favorable government policies and tax rebates on the installation of energy-saving equipment.
Report coverage
The market research study on “Heat Pump Market (By Rated Capacity: Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW; By Type: Air-to-Air, Air-to-Water; By End-User: Residential, Commercial, Hospitality, Retail, Education, Commercial, Industrial, Food & Beverage, Paper & Pulp, Chemicals & Petrochemicals, Other Industrial Sector) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global heat pump market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global heat pump market are offering rated capacity, type, end-user, and major geographic regions. The heat pump market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
Asia Pacific accounts to hold large market share of global heat pump market and is expected to flourish the market during forecast period. Owing to increasing usage of heat pumps in industrial production process, such as papermaking, textiles, pharmaceuticals, chemical industry, iron & steel and others. In 2019, North America was the second largest region and predicted to grow during the forecast period. In order to increase the market for technologically innovative and portable heating facilities for the home sector, gradual improvement for the U.S. construction industry and complementary repair & renovation activities is expected. The market for energy efficient goods in Europe is expected to be strong. The government supportive measures to reduce energy use are projected to improve pump production. The recovering construction industry is projected to lead to demand growth.
Key Players
Major players included in this report Panasonic, United Technologies, Daikin, NIBE, Ingersoll Rand, Midea, Dimplex, Viessmann, Stiebel Eltron, Vaillant, Mitsubishi, Danfoss, and others. Increasingly, such companies are implementing collaborations and acquisitions and product releases to develop and market new technology and products.
The global heat pump market is segmented as below:
Market Segmentation
Heat Pump Market By Rated Capacity
- Up to 10 kW
- 10–20 kW
- 20–30 kW
- Above 30 kW
Heat Pump Market By Type
Heat Pump Market By End-User
- Residential
- Commercial
- Hospitality
- Retail
- Education
- Commercial
- Industrial
- Food & Beverage
- Paper & Pulp
- Chemicals & Petrochemicals
- Other Industrial Sector
Heat Pump Market By Geography
North America
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Table Of Content:
CHAPTER 1. INDUSTRY OVERVIEW
1.1. Definition and Scope
1.1.1. Definition of Heat Pump
1.1.2. Market Segmentation
1.1.3. List of Abbreviations
1.2. Summary
1.2.1. Market Snapshot
1.2.2. Heat Pump Market By Rated Capacity
1.2.2.1. Global Heat Pump Market Revenue and Growth Rate Comparison By Rated Capacity (2016-2027)
1.2.2.2. Global Heat Pump Market Revenue Share By Rated Capacity in 2019
1.2.2.2.1. Up to 10 kW
1.2.2.2.2. 10–20 kW
1.2.2.2.3. 20–30 kW
1.2.2.2.4. Above 30 kW
1.2.3. Heat Pump Market By Type
1.2.3.1. Global Heat Pump Market Revenue and Growth Rate Comparison By Type (2016-2027)
1.2.3.1.1. Air-to-Air
1.2.3.1.2. Air-to-Water
1.2.4. Heat Pump Market By End-User
1.2.4.1. Global Heat Pump Market Revenue and Growth Rate Comparison By End-User (2016-2027)
1.2.4.2. Residential
1.2.4.3. Commercial
1.2.4.4. Hospitality
1.2.4.5. Retail
1.2.4.6. Education
1.2.4.7. Commercial
1.2.4.8. Industrial
1.2.4.9. Food & Beverage
1.2.4.10. Paper & Pulp
1.2.4.11. Chemicals & Petrochemicals
1.2.4.12. Other Industrial Sector
1.2.5. Heat Pump Market By Geography
1.2.5.1. Global Heat Pump Market Revenue and Growth Rate Comparison By Geography (2016-2027)
1.2.5.2. North America Heat Pump Market Revenue and Growth Rate(2016-2027)
1.2.5.3. Europe Heat Pump Market Revenue and Growth Rate(2016-2027)
1.2.5.4. Asia-Pacific Heat Pump Market Revenue and Growth Rate(2016-2027)
1.2.5.5. Latin America Heat Pump Market Revenue and Growth Rate(2016-2027)
1.2.5.6. Middle East and Africa (MEA)Heat Pump Market Revenue and Growth Rate(2016-2027)
CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS
2.1. Market Drivers
2.2. Restraints and Challenges
2.3. Growth Opportunities
2.4. Porter’s Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitute
2.4.4. Threat of New Entrants
2.4.5. Degree of Competition
2.5. Value Chain Analysis
2.6. Cost Structure Analysis
2.6.1. Raw Material and Suppliers
2.6.2. Manufacturing Process Analysis
2.7. Regulatory Compliance
2.8. Competitive Landscape, 2019
2.8.1. Player Positioning Analysis
2.8.2. Key Strategies Adopted By Leading Players
CHAPTER 3. MANUFACTURING PLANTS ANALYSIS
3.1. Capacity and Commercial Production Date of Global Heat Pump Major Manufacturers in 2019
3.2. Manufacturing Plants Distribution of Global Heat Pump Major Manufacturers in 2019
3.3. R&D Status and Technology Source of Global Heat Pump Major Manufacturers in 2019
3.4. Raw Materials Sources Analysis of Global Heat Pump Major Manufacturers in 2019
CHAPTER 4. HEAT PUMP MARKET BY RATED CAPACITY
4.1. Global Heat Pump Revenue By Rated Capacity
4.2. Up to 10 kW
4.2.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
4.2.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
4.3. 10–20 kW
4.3.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
4.3.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
4.4. 20–30 kW
4.4.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
4.4.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
4.5. Above 30 kW
4.5.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
4.5.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
CHAPTER 5. HEAT PUMP MARKET BY TYPE
5.1. Global Heat Pump Revenue By Type
5.2. Air-to-Air
5.2.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
5.2.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
5.3. Air-to-Water
5.3.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
5.3.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
CHAPTER 6. HEAT PUMP MARKET BY END-USER
6.1. Global Heat Pump Revenue By End-User
6.2. Residential
6.2.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.2.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.3. Commercial
6.3.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.3.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.4. Hospitality
6.4.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.4.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.5. Retail
6.5.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.5.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.6. Education
6.6.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.6.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.7. Industrial
6.7.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.7.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.8. Food & Beverage
6.8.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.8.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.9. Paper & Pulp
6.9.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.9.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.10. Chemicals & Petrochemicals
6.10.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.10.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.11. Other Industrial Sector
6.11.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.11.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
CHAPTER 7. NORTH AMERICA HEAT PUMP MARKET BY COUNTRY
7.1. North America Heat Pump Market Revenue and Growth Rate, 2016 - 2027 ($Million)
7.2. North America Heat Pump Market Revenue Share Comparison, 2016 & 2027 (%)
7.3. U.S.
7.3.1. U.S. Heat Pump Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
7.3.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
7.3.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
7.4. Canada
7.4.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
7.4.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
7.4.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
CHAPTER 8. EUROPE HEAT PUMP MARKET BY COUNTRY
8.1. Europe Heat Pump Market Revenue and Growth Rate, 2016 - 2027 ($Million)
8.2. Europe Heat Pump Market Revenue Share Comparison, 2016 & 2027 (%)
8.3. UK
8.3.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
8.3.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
8.3.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
8.4. Germany
8.4.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
8.4.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
8.4.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
8.5. France
8.5.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
8.5.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
8.5.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
8.6. Spain
8.6.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
8.6.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
8.6.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
8.7. Rest of Europe
8.7.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
8.7.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
8.7.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
CHAPTER 9. ASIA-PACIFIC HEAT PUMP MARKET BY COUNTRY
9.1. Asia-Pacific Heat Pump Market Revenue and Growth Rate, 2016 - 2027 ($Million)
9.2. Asia-Pacific Heat Pump Market Revenue Share Comparison, 2016 & 2027 (%)
9.3. China
9.3.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
9.3.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
9.3.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
9.4. Japan
9.4.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
9.4.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
9.4.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
9.5. India
9.5.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
9.5.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
9.5.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
9.6. Australia
9.6.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
9.6.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
9.6.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
9.7. South Korea
9.7.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
9.7.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
9.7.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
9.8. Rest of Asia-Pacific
9.8.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
9.8.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
9.8.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
CHAPTER 10. LATIN AMERICA HEAT PUMP MARKET BY COUNTRY
10.1. Latin America Heat Pump Market Revenue and Growth Rate, 2016 - 2027 ($Million)
10.2. Latin America Heat Pump Market Revenue Share Comparison, 2016 & 2027 (%)
10.3. Brazil
10.3.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
10.3.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
10.3.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
10.4. Mexico
10.4.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
10.4.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
10.4.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
10.5. Rest of Latin America
10.5.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
10.5.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
10.5.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
CHAPTER 11. MIDDLE EAST & AFRICA HEAT PUMP MARKET BY COUNTRY
11.1. Middle East & AFRICA Heat Pump Market Revenue and Growth Rate, 2016 - 2027 ($Million)
11.2. Middle East & AFRICA Heat Pump Market Revenue Share Comparison, 2016 & 2027 (%)
11.3. GCC
11.3.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
11.3.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
11.3.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
11.4. South Africa
11.4.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
11.4.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
11.4.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
11.5. Rest of Middle East & AFRICA
11.5.1. Market Revenue and Forecast By Rated Capacity, 2016 - 2027 ($Million)
11.5.2. Market Revenue and Forecast By Type, 2016 - 2027 ($Million)
11.5.3. Market Revenue and Forecast By End-User, 2016 - 2027 ($Million)
CHAPTER 12. COMPANY PROFILE
12.1. Panasonic
12.1.1. Company Snapshot
12.1.2. Overview
12.1.3. Financial Overview
12.1.4. Type Portfolio
12.1.5. Key Developments
12.1.6. Strategies
12.2. United Technologies
12.2.1. Company Snapshot
12.2.2. Overview
12.2.3. Financial Overview
12.2.4. Type Portfolio
12.2.5. Key Developments
12.2.6. Strategies
12.3. Daikin
12.3.1. Company Snapshot
12.3.2. Overview
12.3.3. Financial Overview
12.3.4. Type Portfolio
12.3.5. Key Developments
12.3.6. Strategies
12.4. NIBE
12.4.1. Company Snapshot
12.4.2. Overview
12.4.3. Financial Overview
12.4.4. Type Portfolio
12.4.5. Key Developments
12.4.6. Strategies
12.5. Ingersoll Rand
12.5.1. Company Snapshot
12.5.2. Overview
12.5.3. Financial Overview
12.5.4. Type Portfolio
12.5.5. Key Developments
12.5.6. Strategies
12.6. Dimplex
12.6.1. Company Snapshot
12.6.2. Overview
12.6.3. Financial Overview
12.6.4. Type Portfolio
12.6.5. Key Developments
12.6.6. Strategies
12.7. Midea
12.7.1. Company Snapshot
12.7.2. Overview
12.7.3. Financial Overview
12.7.4. Type Portfolio
12.7.5. Key Developments
12.7.6. Strategies
12.8. Viessmann
12.8.1. Company Snapshot
12.8.2. Overview
12.8.3. Financial Overview
12.8.4. Type Portfolio
12.8.5. Key Developments
12.8.6. Strategies
12.9. Stiebel Eltron
12.9.1. Company Snapshot
12.9.2. Overview
12.9.3. Financial Overview
12.9.4. Type Portfolio
12.9.5. Key Developments
12.9.6. Strategies
12.10. Vaillant
12.10.1. Company Snapshot
12.10.2. Overview
12.10.3. Financial Overview
12.10.4. Type Portfolio
12.10.5. Key Developments
12.10.6. Strategies
12.11. Others
12.11.1. Company Snapshot
12.11.2. Overview
12.11.3. Financial Overview
12.11.4. Type Portfolio
12.11.5. Key Developments
12.11.6. Strategies
CHAPTER 13. RESEARCH APPROACH
13.1. Research Methodology
13.1.1. Initial Data Search
13.1.2. Secondary Research
13.1.3. Primary Research
13.2. Assumptions and Scope