New Zealand Domestic Heat Pump Water Heater Market, By Type (Integrated, Split), By Price Segment (Low, Medium, and High), By Capacity (Less Than 200L, 200L-300L, More Than 300L), By Sales Channel (Plumbers, Dealers & Mechanical Contractors, House Builders & Constructors, Online, and Retailers), By Region, Competition Forecast & Opportunity, 2027F
The New Zealand domestic heat pump water heater market stood at USD4.32 million in 2021 and is expected to grow at a steady CAGR of 14.27% in the forecast period to reach USD9.94 million by 2027. Factors such as the rise in the per capita income of the consumers, improved living standards, and the rise in the construction of residential buildings are primarily driving the market demand. The shift in consumer preference toward renewable energy sources and the launch of novel domestic heat pumps in the market is further expected to accelerate the New Zealand domestic heat pump water heater market growth over the next five years.
The weather condition in New Zealand throughout the year is increasing the demand for hot water throughout the year. A heat pump can hold hot water for several hours in the event of a power cut and therefore is suitable for houses that require a moderate amount of water to complete daily tasks. The ability to store water in a hot state for several hours lowers the dependency on electricity, unlike the electric heaters. People prefer to take hot showers twice a day in the winter season. Domestic water pumps can provide four back-to-back showers according to consumer requirements. Domestic heat pumps require less electricity, making them more economically feasible for consumers. Therefore, the rise in awareness about the benefits of using a domestic heat pump is expected to fuel the demand for the New Zealand domestic heat pump water heater market in the coming years.
The New Zealand domestic heat pump water heater market is segmented into type, price segment, capacity, sales channel, regional distribution, and competitive landscape. Based on price segment, the market is divided into low, medium, and high. The medium segment dominated the market in 2021 and held 42.11% of the overall market share. The segment is expected to grow at a CAGR of 13.53% in the forecast period. The growing disposable income of middle-class families enables them to afford quality products and equipment to lead a quality lifestyle. Medium ranged domestic heat pumps witnessed massive demand due to their cost-effectiveness and ability to heat the water efficiently for domestic purposes.
The major players operating in the New Zealand domestic heat pump water heater market are Rheem New Zealand Ltd, Parex Industries Limited, Sanden International (Australia) Pty Ltd., Hot Water Heat Pumps Ltd., Superheat Limited, Stiebel Eltron NZ Limited, Trade Depot Ltd., Daikin Air Conditioning New Zealand Ltd, Energy Alternatives NZ, and The Alternative Energy Company Ltd.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F–2027F
Objective of the Study:
- To analyze the historical growth in the market size of the New Zealand domestic heat pump water heater market from 2017 to 2021.
- To estimate and forecast the market size of New Zealand domestic heat pump water heater market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast the New Zealand domestic heat pump water heater market based on type, price segment, capacity, sales channel, regional distribution, and competitive landscape.
- To identify the dominant region or segment in the New Zealand domestic heat pump water heater market.
- To identify drivers and challenges for the New Zealand domestic heat pump water heater market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the New Zealand domestic heat pump water heater market.
- To identify and analyze the profiles of leading players operating in the New Zealand domestic heat pump water heater market.
- To identify key sustainable strategies adopted by market players in the New Zealand domestic heat pump water heater market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of the New Zealand domestic heat pump water heater market using a bottom up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Domestic heat pump water heater market manufacturers
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to domestic heat pump water heater market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, New Zealand domestic heat pump water heater market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- New Zealand Domestic Heat Pump Water Heater Market, By Type:
- New Zealand Domestic Heat Pump Water Heater Market, By Price Segment:
- New Zealand Domestic Heat Pump Water Heater Market, By Capacity:
- Less Than 200L
- More Than 300L
- New Zealand Domestic Heat Pump Water Heater Market, By Sales Channel:
- Dealers & Mechanical Contractors
- House Builders & Constructors
- New Zealand Heat Pump Water Heater Market, By Region:
- North Island
- South Island
Company Profiles: Detailed analysis of the major companies present in New Zealand domestic heat pump water heater market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
1.Rheem New Zealand Ltd
2.Parex Industries Limited
3.Sanden International (Australia) Pty Ltd.
4.Hot Water Heat Pumps Ltd.
6.Stiebel Eltron NZ Limited
7.Trade Depot Ltd.
8.Daikin Air Conditioning New Zealand Ltd
9.Energy Alternatives NZ
10.The Alternative Energy Company Ltd.Please Note:
Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without