$92 Billion Heat Pump Market – Global Outlook and Forecast 2020-2025 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Heat Pump Market – Global Outlook and Forecast 2020-2025” report has been added to ResearchAndMarkets.com’s offering.

The global heat pump market by revenue is expected to grow at a CAGR of over 8% during the period 2019-2025.

The global heat pump market size by revenues will cross over $92 billion by 2025, growing at a CAGR of 8% during the forecast period. The industry is expected to grow more than 1.6X times in terms of revenue during the forecast period. The market witnessed reasonable growth in 2019 where over 50% of the contribution came from established markets such as China, the US, and Japan.

The global heat pump market is expected to witness sudden traction in demand in 2021 after the downfall of the market in 2020 owing to the COVID-19 pandemic. The market growth was sluggish in Q1 and Q2 of 2020 owing to the entire disruption in the supply chain. The majority of manufacturers operated with limited resources and a workforce that highly affected the market.

The district heating concept, which is increasingly favored in recent times, is expected to make the use of heat pumps as a major source. Heat is also expected to be generated from geothermal and biomass solutions. Rebate systems in several European countries have played a major role in large-scale adoption. The growth of green buildings and strong building conduct codes are other supporting factors that can stimulate the growth of heat pumps during the period 2020-2025.


The global heat pump market is fragmented as it is characterized by the presence of a significant number of global and domestic heat pump manufacturers across geographies. Global players such as Carrier, Rheem Manufacturing, Midea, Daikin, and Trane are expanding their markets through profitable partnerships and merger strategies.

Domestic vendors are capitalizing on the product portfolio that best suits domestic needs. However, being a technology-oriented product, the scope of differentiation lies with sophistication and deployment of advanced features such as energy efficiency, COP, eco-friendly refrigerant, installation costs, and services that help vendors to stay competitive in the market.

Prominent Vendors

  • Daikin
  • Carrier
  • Trane
  • NIBE
  • Mitsubishi

Other Prominent Vendors

  • LG
  • Bellcross Industries
  • Hitachi
  • Stiebel Eltron
  • Ingersoll Rand
  • Glen Dimplex
  • The Viessmann Group
  • The Vaillant Group
  • Midea Group
  • Panasonic
  • Danfoss
  • Robert Bosch GmbH
  • WOLF
  • Flamingo Heat Pumps
  • Lennox
  • BDR Thermea Group
  • Mayekawa
  • Thermax Group
  • GEA
  • Rheem Manufacturing Company
  • Ascler
  • Johnson Controls

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope of The Study

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.2 Covid-19 Impact

8 Market Opportunities & Trends

8.1 Growth In Green Buildings

8.2 Preference For Iot Enabled Heat Pumps

8.3 Growing Popularity Of Dual Source Heat Pumps

9 Market Growth Enablers

9.1 Need For Energy Efficiency And Sustainability

9.2 Favorable Government Policies And Incentives

9.3 Growth In District Heating

10 Market Restraints

10.1 High Installation And Upfront Costs

10.2 Low Awareness In Growing Economies

11 Market Landscape

11.1 Market Overview

11.2 Market Size & Forecast

11.3 Five Forces Analysis

12 Product Type

12.1 Market Snapshot & Growth Engine (Revenue)

12.2 Market Snapshot & Growth Engine (Unit Shipments)

12.3 Market Overview

12.4 Air Source

12.5 Air-To-Air Heat Pump

12.6 Air-To-Water Heat Pump

12.7 Ground Source

12.8 Water Source

13 Capacity

13.1 Market Snapshot & Growth Engine (Revenue)

13.2 Market Snapshot & Growth Engine (Unit Shipments)

13.3 Market Overview

13.4 &lessThan; 10KW

13.5 10KW – 20KW

13.6 > 20KW

14 End-User

14.1 Market Snapshot & Growth Engine (Revenue)

14.2 Market Snapshot & Growth Engine (Unit Shipments)

14.3 Market Overview

14.4 Residential

14.5 Commercial

14.6 Industrial

15 Geography

15.1 Market Snapshot & Growth Engine (Revenue)

15.2 Market Snapshot & Growth Engine (Unit Shipments)

15.3 Geographic Overview

For more information about this report visit https://www.researchandmarkets.com/r/1xqwnt

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