Learn about the global heat pumps market through The Business Research Company, which provides information on heat pumps market size, heat pumps market drivers and restraints, heat pumps market players, the COVID-19 impact on the heat pumps market, and more.

The global heat pumps market size is expected to grow from $111.22 billion in 2021 to $119.56 billion in 2022 at a compound annual growth rate (CAGR) of 7.5%. The global heat pumps market size is expected to grow to $165.26 billion in 2026 at a compound annual growth rate (CAGR) of 8.4%.

Government regulations and policies to improve energy efficiency are boosting the demand for renewable energy sources, thereby contributing to the growth of the heat pumps market.

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The heat pumps market consists of sales of heat pumps by entities (organizations, sole traders, and partnerships) that produce heat pumps that move heat from a cool space to a warm space, making the cool space cooler and the warm space warmer. Only goods and services traded between entities or sold to end consumers are included.

Global Heat Pumps Market Segments Include:
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

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the heat pumps market in 2021.

Major companies operating in the heat pumps industry are focusing on developing new technology for cost-effective heating, which is likely to gain popularity in the heat pumps market. 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.

TBRC’s heat pumps market report covers:

Major Market Players: Daikin Industries Ltd, Carrier, NIBE, Mitsubishi Electric Corporation, LG, Johnson Controls, Hitachi, Robert Bosch GmbH, Stiebel Eltron, and Ingersoll Rand.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Heat Pumps Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides heat pumps market overviews, analyzes and forecasts market size, share, heat pumps market players, heat pumps market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s heat pumps market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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