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Press Release:

Global Heat Pumps Market to Grow at 10% During 2019-2024, Impelled by Rising Adoption Rates of HVAC Systems

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Heat Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global heat pumps market reached a value of US$ 69.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Heat pumps are electrical devices that extract heat from a source and transfer it to another via electronic or mechanical means. They perform this function by circulating the refrigerant through a cycle of evaporation and condensation. They work like air conditioners in warmer months, and the process is reversed during colder weather. In comparison with conventional heating and cooling units, heat pumps consume around 40% less energy to operate. As a result, they act as an energy-efficient alternative to furnaces andair conditioning systemfor climates that require moderate heating or cooling. The increasing focus on improving environmental performance and the growing number of initiatives to minimize heat generation from fossil fuels in recent years is spurring the demand for heat pumps around the world.

The introduction of green building standards and codes to enhance the deployment of sustainable technologies is aiding in minimizing carbon emissions. The consequent rise in the demand for sustainable and cost-effectiveheating and cooling solutions to reduce electricity consumption is impelling the market growth. Additionally, manufacturers are financing research and development (R&D) activities to improve the existing mechanism of heat pumps and enhance their performance and efficiency. For instance, they are introducing two-speed compressors that enable industrial heat pumps to perform extreme heating or cooling with high efficiency, which can significantly reduce their power consumption. Another innovation in the industry includes the integration of heat pumps with furnace systems for creating dual-fuel heat pumps.

IMARC Group’s latest report provides a deep insight into the global heat pumps market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the heat pumps market in any manner.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global heat pumps market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on rated capacity, product type and end use sector.

Breakup by Rated Capacity:

  • Up to 10 kW
  • 10–20 kW
  • 20–30 kW
  • Above 30 kW

Breakup by Product Type:

  • Air Source Heat Pump
  • Ground Source Heat Pump
  • Water Source Heat Pump
  • Exhaust Air Heat Pump
  • Others

Breakup by End Use Sector:

  • Residential
  • Commercial
  • Hospitality
  • Retail
  • Education
  • Food & Beverage
  • Paper & Pulp
  • Chemicals & Petrochemicals
  • Others

Breakup by Region:

  • Europe
  • North America
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being Daikin, Mitsubishi Electric, Midea Group, Nibe, Ingersoll-Rand, Danfoss, Panasonic, Glen Dimplex, Viessmann, Robert Bosch, United Technologies, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Rated Capacity, Product Type, End Use Sector, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Daikin, Mitsubishi Electric, Midea Group, Nibe, Ingersoll-Rand, Danfoss, Panasonic, Glen Dimplex, Viessmann, Robert Bosch and United Technologies
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Questions Answered in This Report:

  • How has the global heat pumps market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global heat pumps industry?
  • What has been the impact of COVID-19 on the global heat pumps market?
  • What is the breakup of the market based on the rated capacity?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the end use sector?
  • What are the various stages in the value chain of the global heat pumps industry?
  • What are the key driving factors and challenges in the global heat pumps industry?
  • What is the structure of the global heat pumps industry and who are the key players?
  • What is the degree of competition in the global heat pumps industry?

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Heat Pumps Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Rated Capacity
5.5 Market Breakup by Product Type
5.6 Market Breakup by End Use Sector
5.7 Market Breakup by Region
5.8 Market Forecast
6 SWOT Analysis
6.1 Overview
6.2 Strengths
6.3 Weaknesses
6.4 Opportunities
6.5 Threats
7 Value Chain Analysis
8 Porter’s Five Forces Analysis
8.1 Overview
8.2 Bargaining Power of Buyers
8.3 Bargaining Power of Suppliers
8.4 Degree of Competition
8.5 Threat of New Entrants
8.6 Threat of Substitutes
9 Market Breakup by Rated Capacity
9.1 Up to 10 kW
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 10–20 kW
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 20–30 kW
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Above 30 kW
9.4.1 Market Trends
9.4.2 Market Forecast
10 Market Breakup by Product Type
10.1 Air Source Heat Pump
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Ground Source Heat Pump
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Water Source Heat Pump
10.3.1 Market Trends
10.3.2 Market Forecast
10.4排气热泵
10.4.1 Market Trends
10.4.2 Market Forecast
10.5其他rs
10.5.1 Market Trends
10.5.2 Market Forecast
11 Market Breakup by End Use Sector
11.1 Residential
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Commercial
11.2.1 Market Trends
11.2.2 Market Forecast
11.3 Hospitality
11.3.1 Market Trends
11.3.2 Market Forecast
11.4 Retail
11.4.1 Market Trends
11.4.2 Market Forecast
11.5 Education
11.5.1 Market Trends
11.5.2 Market Forecast
11.6 Food & Beverage
11.6.1 Market Trends
11.6.2 Market Forecast
11.7 Paper & Pulp
11.7.1 Market Trends
11.7.2 Market Forecast
11.8 Chemicals & Petrochemicals
11.8.1 Market Trends
11.8.2 Market Forecast
11.9 Others
11.9.1 Market Trends
11.9.2 Market Forecast
12 Market Breakup by Region
12.1 Europe
12.1.1 Market Trends
12.1.2 Market Forecast
12.2 North America
12.2.1 Market Trends
12.2.2 Market Forecast
12.3 Asia Pacific
12.3.1 Market Trends
12.3.2 Market Forecast
12.4 Middle East and Africa
12.4.1 Market Trends
12.4.2 Market Forecast
12.5拉丁美洲
12.5.1 Market Trends
12.5.2 Market Forecast
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1大金
14.3.2 Mitsubishi Electric
14.3.3 Midea Group
14.3.4 Nibe
14.3.5 Ingersoll-Rand
14.3.6 Danfoss
14.3.7 Panasonic
14.3.8 Glen Dimplex
14.3.9 Viessmann
14.3.10 Robert Bosch
14.3.11 United Technologies

List of Figures

Figure 1: Global: Heat Pumps Market: Major Drivers and Challenges
Figure 2: Global: Heat Pumps Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Heat Pumps Market: Breakup by Rated Capacity (in %), 2020
Figure 4: Global: Heat Pumps Market: Breakup by Product Type (in %), 2020
Figure 5: Global: Heat Pumps Market: Breakup by End Use Sector (in %), 2020
Figure 6: Global: Heat Pumps Market: Breakup by Region (in %), 2020
Figure 7: Global: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 8: Global: Heat Pumps Industry: SWOT Analysis
Figure 9: Global: Heat Pumps Industry: Value Chain Analysis
Figure 10: Global: Heat Pumps Industry: Porter’s Five Forces Analysis
Figure 11: Global: Heat Pumps (Up to 10 kW) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 12: Global: Heat Pumps (Up to 10 kW) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 13: Global: Heat Pumps (10–20 kW) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 14: Global: Heat Pumps (10–20 kW) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 15: Global: Heat Pumps (20–30 kW) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 16: Global: Heat Pumps (20–30 kW) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 17: Global: Heat Pumps (Above 30 kW) Market: Sales Value (in Billion US$), 2015 & 2020
图18:全球:热泵(超过30千瓦)市场Forecast: Sales Value (in Billion US$), 2021-2026
Figure 19: Global: Heat Pumps (Air Source Heat Pump) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 20: Global: Heat Pumps (Air Source Heat Pump) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 21: Global: Heat Pumps (Ground Source Heat Pump) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 22: Global: Heat Pumps (Ground Source Heat Pump) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 23: Global: Heat Pumps (Water Source Heat Pump) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 24: Global: Heat Pumps (Water Source Heat Pump) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 25: Global: Heat Pumps (Exhaust Air Heat Pump) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 26: Global: Heat Pumps (Exhaust Air Heat Pump) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 27: Global: Heat Pumps (Other Product Types) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 28: Global: Heat Pumps (Other Product Types) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 29: Global: Heat Pumps (Residential) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 30: Global: Heat Pumps (Residential) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 31: Global: Heat Pumps (Commercial) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 32: Global: Heat Pumps (Commercial) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 33: Global: Heat Pumps (Hospitality) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 34: Global: Heat Pumps (Hospitality) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 35: Global: Heat Pumps (Retail) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 36: Global: Heat Pumps (Retail) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 37: Global: Heat Pumps (Education) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 38: Global: Heat Pumps (Education) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 39: Global: Heat Pumps (Food & Beverage) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 40: Global: Heat Pumps (Food & Beverage) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 41: Global: Heat Pumps (Paper & Pulp) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 42: Global: Heat Pumps (Paper & Pulp) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 43: Global: Heat Pumps (Chemicals & Petrochemicals) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 44: Global: Heat Pumps (Chemicals & Petrochemicals) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 45: Global: Heat Pumps (Other End Use Sectors) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 46: Global: Heat Pumps (Other End Use Sectors) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 47: Europe: Heat Pumps Market: Sales Value (in Billion US$), 2015 & 2020
Figure 48: Europe: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 49: North America: Heat Pumps Market: Sales Value (in Billion US$), 2015 & 2020
Figure 50: North America: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 51: Asia Pacific: Heat Pumps Market: Sales Value (in Billion US$), 2015 & 2020
Figure 52: Asia Pacific: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 53: Middle East and Africa: Heat Pumps Market: Sales Value (in Billion US$), 2015 & 2020
Figure 54: Middle East and Africa: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 55: Latin America: Heat Pumps Market: Sales Value (in Billion US$), 2015 & 2020
Figure 56: Latin America: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2021-2026

List of Tables

Table 1: Global: Heat Pumps Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Heat Pumps Market Forecast: Breakup by Rated Capacity (in Billion US$), 2021-2026
Table 3: Global: Heat Pumps Market Forecast: Breakup by Product Type (in Billion US$), 2021-2026
Table 4: Global: Heat Pumps Market Forecast: Breakup by End Use Sector (in Billion US$), 2021-2026
Table 5: Global: Heat Pumps Market Forecast: Breakup by Region (in Billion US$), 2021-2026
Table 6: Global: Heat Pumps Market Structure
Table 7: Global: Heat Pumps Market: Key Players

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