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Heat Pump Market in the US by Type, Market and Region

Heat Pump Market in the US by Type, Market and Region

US demand for heat pumps is expected to rise 2.4% per year through 2021. Demand will continue to be supported primarily by the greater energy efficiency of heat pumps compared to other types of comfort cooling equipment. Additionally, heat pumps can also provide supplemental heating, and are a preferred option in areas where heating requirements are modest. However, the expiration of the federal tax credit for heat pumps at the end of 2016 will prevent faster sales increases.

This report covers heat pump demand by product, market and region. Data are given in dollar value and units.

Heat pump products covered in the study include:
Air source, encompassing air-to-air and air-to-water types
Geothermal, encompassing closed loop and open loop types

The markets for heat pumps are:
Residential, including both new building and existing building
Commercial, including both new building and existing building

Demand is also broken out by US Census region:
Northeast
Midwest
South
West

Scope of the Report
This report shows the scope, size, and growth of the US heat pump market, including key trends by product type and market. Historical data are provided for 2006, 2011, and 2016 with forecasts for 2021, with year-by-year historical market volatility also addressed. Also included is an analysis of the industry key players and their market share.


  • EXECUTIVE SUMMARY
    • Table Figure 1-1 | Key Trends in the US Heat Pump Market
  • OVERVIEW
    • Key Findings
      • Table Figure 2-1 | Key Trends in the Heat Pump Market
    • Factors Influencing Heat Pump Demand
    • Climate Zones
    • Energy Profile
      • Table Average Retail Energy Costs in the US by Source, 2006-2021
    • Energy Efficiency & Variable Refrigerant Flow
    • Impact of Tax Credits on HVAC Equipment Demand
    • Refrigerant Regulations
    • Pricing Trends
      • Table Heat Pump Pricing Trends, 2006-2021
      • Table Figure 2-2 | Heat Pump Pricing Trends, 2006-2021
    • Market Volatility
      • Table Figure 2-3 | Heat Pump Demand, 2006-2016
    • Foreign Trade
      • Table Foreign Trade in Heat Pumps, 2006-2021
      • Table Figure 2-4 | US Foreign Trade in Heat Pumps, 2006-2016
      • Imports
        • Table Heat Pump Imports by Source, 2006-2016
        • Table Figure 2-5 | Heat Pump Imports by Source, 2006-2016
      • Exports
        • Table Heat Pump Exports by Destination, 2006-2016
        • Table Figure 2-6 | US Heat Pump Exports by Destination, 2006-2016
  • PRODUCTS
    • Key Findings
      • Table Figure 3-1 | Key Trends in Heat Pump Products
    • Heat Pump Historical Trends
    • Heat Pump Forecasts
      • Table Heat Pump Supply & Demand, 2006-2021
      • Table Figure 3-2 | Heat Pump Demand, 2006-2016
    • Demand by Product
      • Table Heat Pump Demand by Product, 2006-2021
      • Table Figure 3-3 | Heat Pump Demand by Value & Volume, 2016
      • Air Source
        • Table Air Source Heat Pump Demand, 2006-2021
        • Table Air Source Heat Pump Demand by Energy Source, 2006-2021
        • Table Figure 3-4 | Air Source Heat Pump Demand in Value Terms by Energy Source, 2006-2021
        • Table Air-to-Air Heat Pump Demand, 2006-2021
        • Table Figure 3-5 | Air-to-Air Heat Pump Demand by Type, 2016
        • Table Air-to-Water Heat Pump Demand, 2006-2021
      • Geothermal
        • Table Geothermal Heat Pump Demand, 2006-2021
  • MARKETS
    • Key Findings
      • Table Figure 4-1 | Key Trends in Heat Pump Markets
    • Heat Pump Demand by Market
      • Table Heat Pump Demand by Market, 2006-2021
      • Table Figure 4-2 | Heat Pump Demand by Market, 2006-2021
    • Commercial
      • Table Commercial Heat Pump Demand, 2006-2021
      • Table Figure 4-3 | Commercial Heat Pump Demand, 2006-2016
      • Demand by Building Type
        • Table Commercial Heat Pump Demand by Building Type, 2006-2021
        • Table Figure 4-4 | Commercial Heat Pump Demand by Building Type, 2016
    • Residential
      • Table Residential Heat Pump Demand, 2006-2021
      • New Buildings
        • Table Figure 4-5 | New Residential Building Heat Pump Demand by Value, 2006-2016
      • Existing Buildings
        • Table Figure 4-6 | Heat Pump Demand in Existing Buildings by Value, 2006-2016
      • Demand by Building Type
        • Table Residential Heat Pump Demand by Building Type, 2006-2021
        • Table Figure 4-7 | Residential Heat Pump Demand by Building Type, 2016
  • REGIONS
    • Key Findings
      • Table Figure 5-1 | Key Trends in Heat Pump Regions
    • Climatic Factors Influencing Heat Pump Installation
      • Table Figure 5-2 | Percent of New Single & Multifamily Residential Buildings with Heat Pumps Installed by Region, 2006 & 2016
    • Heat Pump Demand by Region
      • Table Heat Pump Demand by Region, 2006-2021
      • Table Figure 5-3 | Heat Pump Demand by Region, 2016
      • South
        • Table South Heat Pump Demand, 2006-2021
      • West
        • Table West Heat Pump Demand, 2006-2021
      • Midwest
        • Table Midwest Heat Pump Demand, 2006-2021
      • Northeast
        • Table Northeast Heat Pump Demand, 2006-2021
  • INDUSTRY STRUCTURE
    • Key Findings
    • Industry Composition
      • Table Heat Pump Sales by Company, 2016
    • Market Share
      • Table Figure 6-1 | US Heat Pump Market Share, 2016
      • Daikin
        • Table Figure 6-2 | Heat Pumps: Overall Leading Supplier
      • United Technologies
        • Table Figure 6-3 | Heat Pumps: Second Leading Supplier
      • Lennox
        • Table Figure 6-4 | Heat Pumps: Third Leading Supplier
      • Ingersoll-Rand
        • Table Figure 6-5 | Heat Pumps: Fourth Leading Supplier
      • Other Heat Pump Suppliers
        • Table Other Heat Pump Suppliers by Product Type
    • Competitive Strategies
    • Product Development & Manufacturing
      • Table R&D Spending for Selected Heat Pump Companies, 2016
    • Marketing
    • Distribution
    • Cooperative Agreements
      • Table Selected Cooperative Agreements
    • Mergers, Acquisitions, &Industry Restructuring
      • Table Selected Acquisitions & Divestitures
    • List of Industry Participants
  • APPENDIX
    • Scope
      • Table Study Scope: US Regions
      • Table Relevant NAICS Codes
    • Methodology
    • Sources
    • Associations & Agencies
    • Related Freedonia Group Studies
      • US Studies
      • Global Studies
      • Upcoming Studies
    • Definitions
      • General
      • Markets
      • Heat Pumps
    • Abbreviations
      • Table Abbreviations & Acronyms Used in Study
    • Climate Zones
      • Table Figure 7-1 | Continental US Climate Zones*
    • Macroeconomic Assumptions
      • Table Macroeconomic Indicators, 2006-2021
      • Table Figure 7-2 | Annual Growth in Real GDP, 2000-2016, compared to 1980-2005 average
    • Demographic Trends
      • Table Figure 7-3 | Annual Population Growth, 2001-2016
      • Table Population & Households, 2006-2021
    • Consumer Spending
      • Table Personal Consumption Expenditures, 2006-2021
    • Building Construction
      • Table Building Construction Expenditures, 2006-2021
      • Residential
        • Table Residential Building Construction, 2006-2021
        • Table New Housing Indicators, 2006-2021
        • Table Housing Stock by Type, 2006-2021
        • Table Figure 7-4 | Housing Stock by Year of Construction, 2016
        • Table Residential Improvement & Repair Expenditures, 2006-2021
      • Nonresidential
        • Table Nonresidential Building Construction Expenditures, 2006-2021

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