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Global Heat Pump Water Heater Market 2017-2021

Global Heat Pump Water Heater Market 2017-2021

About Heat Pump Water Heater

Heat pump water heaters generally use electricity to move heat from one place to another instead of generating heat directly, which helps in reducing energy consumption by three times compared with conventional electric resistance water heaters. To move the heat from one place to other, the heat pump water heaters work like a refrigerator but in reverse, as the heat pump water heaters pull the heat from the surrounding air and keep it at a higher temperature in a tank to heat water.

Technavio’s analysts forecast the global heat pump water heater market to grow at a CAGR of 11.20% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global heat pump water heater market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Heat Pump Water Heater Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • A.O. Smith
  • Daikin Industries
  • Danfoss
  • NIBE
Other prominent vendors
  • alpha innotec
  • GE Appliances
  • Gree
  • Hangzhou Jinjiang Solar
  • Hayward Industries
  • Johnson Controls - Hitachi Air Conditioning
  • Zodiac Pool Solutions (Jandy)
  • Midea
  • MTechnologysubishi Electric
  • New Energy
  • Panasonic
  • Pentair
  • STIEBEL ELTRON
  • Technologyomic
  • Thermia
  • Tongyi
  • Toshiba
  • Viessmann
  • Zhongrui
Market driver
  • Growing demand for geothermal heat pumps
  • For a full, detailed list, view our report
Market challenge
  • Challenging market conditions
  • For a full, detailed list, view our report
Market trend
  • Tax credits in the US for retrofitting
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Heat Pump Water Heater Market 2017-2021

Technavio recognizes the following companies as the key players in the global heat pump water heater market: A.O. Smith, Daikin Industries, Danfoss, and NIBE

Other Prominent Vendors in the market are: alpha innotec, GE Appliances, Gree, Hangzhou Jinjiang Solar, Hayward Industries, Johnson Controls - Hitachi Air Conditioning, Zodiac Pool Solutions (Jandy), Midea, MTechnologysubishi Electric, New Energy, Panasonic, Pentair, STIEBEL ELTRON, Technologyomic, Thermia, Tongyi, Toshiba, Viessmann, and Zhongrui.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is tax credits in the US for retrofitting. The Environment Protection Agency (EPA) in the US launched the Energy Star program in 1992, which identifies and promotes energy efficiency in products, homes, and buildings nationwide. Energy Star offers tax credits on the purchase or retrofitting of air-source heat pumps.”

According to the report, one driver in the market is growing demand for geothermal heat pumps. GSHPs, which are also called geothermal heat pumps, are central heating/cooling systems that either transfer heat from or to the ground. Depending on the application, these systems make use of the earth as the heat source or sink. Although geothermal heat pumps have been in existence since the 1940s, they have gained widespread adoption and acceptance only recently owing to their environmental benefits.

Further, the report states that one challenge in the market is challenging market conditions. The heat pump market is highly competitive in nature, wherein the product uses a wide variety of alternative technologies to perform the same functions. Heating technologies such as electric and gas water heaters cost significantly less when compared with heat pumps, and they are easier to install, making them a preferred choice in heating technologies. These have resulted in challenging market conditions for heat pump vendors.

Companies Mentioned

A.O. Smith, Daikin Industries, Danfoss, and NIBEOther Prominent Vendors in the market are: alpha innotec, GE Appliances, Gree, Hangzhou Jinjiang Solar, Hayward Industries, Johnson Controls - Hitachi Air Conditioning, Zodiac Pool Solutions (Jandy), Midea, MTechnologysubishi Electric, New Energy, Panasonic, Pentair, STIEBEL ELTRON, Technologyomic, Thermia, Tongyi, Toshiba, Viessmann, and Zhongrui.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Working of a heat pump
      • Table Workflow of a heat pump water heater
      • Table Global heat pump water heater market by product type 2016-2021
      • Table Global heat pump water heater market by end-user 2016-2021
      • Table Global heat pump water heater market by geography 2016-2021
  • Market landscape
    • Market overview
      • Table Global heat pump water heater market segmentation
    • Market size and forecast
      • Table Global GDP ($ trillions) and global electricity consumption 1990-2014 (TWh)
      • Table Global heat pump water heater market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by type
    • Market overview
      • Table Global heat pump water heater market segmentation by product type 2016 and 2021(%)
    • Air-to-water heat pumps
      • Table Global heat pump water heater market by air-to-water heat pumps 2016-2021
      • Table Shares of different types of air-to-water heat pumps 2015 and 2020 (%)
    • Ground source heat pumps (GSHPs)
      • Table Global heat pump water heater market by GSHPs 2016-2021 ($ billions)
      • Table Types of geothermal heat pump systems
  • Market segmentation by end-user
    • Market overview
      • Table Global heat pump water heater market segmentation by end-user 2016 and
    • Residential sector
      • Table Global heat pump water heater market in residential sector 2016-2021($ billions)
      • Table US construction spending: Sector-wise share December 2016 (%)
      • Table Factors driving construction sector in US
      • Table US new residential construction 2005-2016 (thousands of units)
    • Non-residential sector
      • Table Global heat pump water heater in non-residential sector 2016-2021($ billions)
      • Table Commercial service exports in India and China ($ billions)
      • Table Annual unemployment rate in US 2010-2016 (%)
  • Geographical segmentation
    • Market overview
      • Table Global heat pump water heater market segmentation by geography 2016-2021(%)
    • EMEA
      • Table Heat pump water heater market in EMEA 2016-2021($ billions)
      • Table GDP growth rate in leading countries in Europe 2012-2015 (%)
    • Americas
      • Table Heat pump water heater market in Americas 2016-2021($ billions)
    • APAC
      • Table Heat pump water heater market in APAC 2016-2021 ($ billions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Average construction spending by countries in APAC 2015
      • Table Benefits of heat pumps
    • Market challenges
  • Market trends
    • Emergence of BEMS
      • Table BEMS market forecast 2015 and 2020 ($ billions)
    • Tax credits in the US for retrofitting
      • Table Energy Star rating requirements for geothermal heat pumps
    • De-super heaters for heat recovery
  • Vendor landscape
    • Competitive scenario
      • Table Key vendors in heat pump water heater market
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • A.O. Smith
      • Table A.O. Smith: Heat pump water heater product portfolio
    • Daikin Industries
      • Table Daikin Industries: Heat pump water heaters
    • Danfoss
      • Table Danfoss: Heat pumps
      • Table Danfoss: Heat pump water heaters
    • NIBE
      • Table NIBE: Heat pump water heaters
  • Appendix
    • List of abbreviations
  • Explore Technavio

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