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Heat Pump Market by Type (Air-to-Air and Air-to-Water), Rated Capacity (Up to 10 kW, 10–20 kW, 20–30 kW, and Above 30 kW), End-User (Residential, Commercial, and Industrial), and Region (North America, Europe, APAC, and RoW) - Global Forecast to 2023

Heat Pump Market by Type (Air-to-Air and Air-to-Water), Rated Capacity (Up to 10 kW, 10–20 kW, 20–30 kW, and Above 30 kW), End-User (Residential, Commercial, and Industrial), and Region (North America, Europe, APAC, and RoW) - Global Forecast to 2023

“The heat pump market is projected to grow at a CAGR of 11.68%, from 2018 to 2023.”
The heat pump market is projected to grow from an estimated USD 54.34 billion in 2018 to USD 94.42 billion by 2023, at a CAGR of 11.68%, from 2018 to 2023. Increasing investments in the residential and commercial sectors are driving the market for heat pumps across the world. The lack of awareness about the heat pump technology and the higher installation cost are some of the restraining factors that can hamper the growth of the heat pump market.

“Residential segment is expected to grow at the fastest rate of the heat pump market, by end-user, during the forecast period.”
The residential segment of the global heat pump market is expected to grow at a fast pace during the forecast period. This can be attributed to rapid growth in industrialization and urbanization across the world. Increasing use of heat pumps across residential, commercial, and industrial end-use sectors would drive the market to grow at the fastest rate during the forecast period.

“Asia Pacific: The largest market for heat pumps.”
Asia Pacific is the largest market for heat pumps, followed by Europe and North America. The heat pump market would be mainly driven by the demand from the Chinese market, particularly from the air-to-water heat pump type. Growing air-to-air type heat pump demand in Italy, Spain, and France are likely to impact the heat pump market in Europe positively. Moreover, focus on developing new residential and commercial infrastructure, especially in the US and Canada would aid in increasing the demand for heat pumps in the North American region.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1 - 55%, Tier 2 - 25%, and Tier 3 - 20%
By Designation: C-Level - 20%, D-Level - 25%, Others - 55%
By Region: North America - 30%, Europe - 35%, Asia Pacific - 25%, Rest of the World – 10%

Note: The tier of the companies has been defined on the basis of their total revenue; as of 2017: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 = <USD 1 billion
The leading players in the heat pump market are Daikin (Japan), United Technologies (US), Midea (China), NIBE (Sweden), Ingersoll Rand (Ireland), Glen Dimplex (Ireland), Stiebel Eltron (Germany), Viessmann (Germany), Panasonic (Japan), Mitsubishi (Japan), Vaillant (Germany), and Danfoss (Denmark).

Research Coverage:
The report provides a picture of the heat pump market across the Heating, Ventilation, and Air Conditioning (HVAC) industry and regions. It aims at estimating the market size and future growth potential of the market across different segments such as rated capacity, type, end-user, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

For this report, the market has been segmented on the basis of rated capacity, type, end-user, and region, with a focus on industry analysis (industry trends), market ranking analysis of the top players, supply chain analysis, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the heat pump market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the heat pump market.

Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the markets for heat pumps across regions.

Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global heat pump market.

Why Buy this Report?
1. The report identifies and addresses key markets for the deployment of heat pumps in various industries, which would help manufacturers review the growth in demand.
2. The report helps solutions providers understand the pulse of the market and provide insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • MARKET SCOPE
      • REGIONAL SCOPE
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN & DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
    • Table HEAT PUMP MARKET SNAPSHOT
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE HEAT PUMP MARKET
    • HEAT PUMP MARKET, BY RATED CAPACITY
    • HEAT PUMP MARKET, BY TYPE
    • EUROPE HEAT PUMP MARKET, BY END-USER & COUNTRY
    • HEAT PUMP MARKET GROWTH, BY COUNTRY
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
        • Table LATEST GLOBAL POLICY/INCENTIVES
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • HEAT PUMP MARKET, BY TYPE
    • INTRODUCTION
      • Table HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
    • AIR TO AIR
      • Table AIR TO AIR: HEAT PUMP MARKET, BY REGION, 2016–2023 (USD MILLION)
    • AIR TO WATER
      • Table AIR TO WATER: HEAT PUMP MARKET, BY REGION, 2016–2023 (USD MILLION)
  • HEAT PUMP MARKET, BY RATED CAPACITY
    • INTRODUCTION
      • Table HEAT PUMP MARKET SIZE, BY RATED CAPACITY, 2016–2023 (USD MILLION)
    • UP TO 10 KW
      • Table UP TO 10 KW: HEAT PUMP MARKET, BY REGION, 2016–2023 (USD MILLION)
    • 10–20 KW
      • Table 10–20 KW: HEAT PUMP MARKET, BY REGION, 2016–2023 (USD MILLION)
    • 20–30 KW
      • Table 20–30 KW: HEAT PUMP MARKET, BY REGION, 2016–2023 (USD MILLION)
    • ABOVE 30 KW
      • Table ABOVE 30 KW: HEAT PUMP MARKET, BY REGION, 2016–2023 (USD MILLION)
  • HEAT PUMP MARKET, BY END USER
    • INTRODUCTION
      • Table HEAT PUMP MARKET SIZE, BY END-USER, 2016–2023 (USD MILLION)
    • RESIDENTIAL
      • Table RESIDENTIAL: HEAT PUMP MARKET, BY REGION, 2016–2023 (USD MILLION)
    • COMMERCIAL
      • Table COMMERCIAL: HEAT PUMP MARKET, BY REGION, 2016–2023 (USD MILLION)
      • Table COMMERCIAL: HEAT PUMP MARKET, BY SUB-SECTOR, 2016–2023 (USD MILLION)
    • INDUSTRIAL
      • Table INDUSTRIAL: HEAT PUMP MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
      • Table INDUSTRIAL: HEAT PUMP MARKET, BY SUB-SECTOR, 2016–2023 (USD MILLION)
  • HEAT PUMP MARKET, BY REGION
    • INTRODUCTION
      • Table HEAT PUMP MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
    • ASIA PACIFIC
      • Table ASIA PACIFIC: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table ASIA PACIFIC: HEAT PUMP MARKET SIZE, BY END-USER, 2016–2023 (USD MILLION)
      • Table ASIA PACIFIC: HEAT PUMP MARKET SIZE FOR COMMERCIAL, BY SUB END-USER, 2016–2023 (USD MILLION)
      • Table ASIA PACIFIC: HEAT PUMP MARKET SIZE FOR INDUSTRIAL, BY SUB END-USER, 2016–2023 (USD MILLION)
      • Table ASIA PACIFIC: HEAT PUMP MARKET SIZE, BY RATED CAPACITY, 2016–2023 (USD MILLION)
      • Table ASIA PACIFIC: HEAT PUMP MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • CHINA
        • Table CHINA: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • INDIA
        • Table INDIA: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • JAPAN
        • Table JAPAN: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • SOUTH KOREA
        • Table SOUTH KOREA: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • AUSTRALIA
        • Table AUSTRALIA: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • REST OF ASIA PACIFIC
        • Table REST OF ASIA PACIFIC: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
    • EUROPE
      • Table EUROPE: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table EUROPE: HEAT PUMP MARKET SIZE, BY END-USER, 2016–2023 (USD MILLION)
      • Table EUROPE: HEAT PUMP MARKET SIZE FOR COMMERCIAL, BY SUB END-USER, 2016–2023 (USD MILLION)
      • Table EUROPE: HEAT PUMP MARKET SIZE FOR INDUSTRIAL, BY SUB END-USER, 2016–2023 (USD MILLION)
      • Table EUROPE: HEAT PUMP MARKET SIZE, BY RATED CAPACITY, 2016–2023 (USD MILLION)
      • Table EUROPE: HEAT PUMP MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • ITALY
        • Table ITALY: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • SPAIN
        • Table SPAIN: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • FRANCE
        • Table FRANCE: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • PORTUGAL
        • Table PORTUGAL: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • SWEDEN
        • Table SWEDEN: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • NETHERLANDS
        • Table NETHERLANDS: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • FINLAND
        • Table FINLAND: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • GERMANY
        • Table GERMANY: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • REST OF EUROPE
        • Table REST OF EUROPE: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
    • NORTH AMERICA
      • Table NORTH AMERICA: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: HEAT PUMP MARKET SIZE, BY END-USER, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: HEAT PUMP MARKET SIZE FOR COMMERCIAL, BY SUB END-USER, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: HEAT PUMP MARKET SIZE FOR INDUSTRIAL, BY SUB END-USER, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: HEAT PUMP MARKET SIZE, BY RATED CAPACITY, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: HEAT PUMP MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • U.S.
        • Table US: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • CANADA
        • Table CANADA: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • MEXICO
        • Table MEXICO: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
    • REST OF THE WORLD
      • Table REST OF THE WORLD: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table REST OF THE WORLD: HEAT PUMP MARKET SIZE, BY END-USER, 2016–2023 (USD MILLION)
      • Table REST OF THE WORLD: HEAT PUMP MARKET SIZE FOR COMMERCIAL, BY SUB END-USER, 2016–2023 (USD MILLION)
      • Table REST OF THE WORLD: HEAT PUMP MARKET SIZE FOR INDUSTRIAL, BY SUB END-USER, 2016–2023 (USD MILLION)
      • Table REST OF THE WORLD: HEAT PUMP MARKET SIZE, BY RATED CAPACITY, 2016–2023 (USD MILLION)
      • Table REST OF THE WORLD: HEAT PUMP MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
      • MIDDLE EAST
        • Table MIDDLE EAST: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • SOUTH AMERICA
        • Table SOUTH AMERICA: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • AFRICA
        • Table AFRICA: HEAT PUMP MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • RANKING OF PLAYERS AND MARKET STRUCTURE
    • COMPETITIVE SCENARIO
      • Table NIBE WAS THE MOST ACTIVE PLAYER IN THE MARKET BETWEEN 2014 AND 2017
      • MERGER AND ACQUISITION
        • Table MERGER AND ACQUISITION, 2015–2017
      • CONTRACTS & AGREEMENT
        • Table CONTRACT & AGREEMENT, 2015–2017
      • NEW PRODUCT LAUNCH
        • Table NEW PRODUCT LAUNCH, 2014–2017
      • INVESTMENTS AND EXPANSIONS
        • Table INVESTMENTS AND EXPANSIONS, 2015–2017
      • OTHERS
        • Table OTHERS, 2015–2017
  • COMPANY PROFILES
    • COMPETITIVE BENCHMARKING
    • MIDEA GROUP
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • UNITED TECHNOLOGIES
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • DAIKIN
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • NIBE
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • INGERSOLL-RAND
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • GLEN DIMPLEX
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • STIEBEL ELTRON
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • VIESSMANN
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • MNM VIEW
    • PANASONIC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
    • MITSUBISHI
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • VAILLANT
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
    • DANFOSS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • ADDITIONAL LIST OF KEY PLAYERS
      • HITACHI
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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