Heat Pump Market Size, Share, Growth & Trend Analysis Report by 2021 - 2029

Heat Pump Market : size was valued at USD 52.4 Bn. in 2021 and the total revenue is expected to grow by 7.75% from 2022 to 2029, reaching nearly 95.4 Bn.

Heat Pump Market Overview:

The competitive landscape of the Heat Pump market includes information about competitors. The contents include a corporate overview, financials, revenue generated, market potential, investment in research and development, new market efforts, geographical presence, firm strengths and weaknesses, product introduction, and application dominance. The preceding data points are solely relevant to the businesses' focus on the Heat Pump market.

Market Scope:

To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The report's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are calculated using weights allocated to each segment based on their utilization rate and average sale price. The percentage adoption or usage of the given market Size in the corresponding area or nation is used to calculate the country-wise splits of the overall market and its sub-segments.

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Heat Pump Market Segmentation:

By Type, the Heat Pump Market is segmented into Air-to-Air Heat Pump, Air-to-Water Heat Pump, Water Source Heat Pump, Ground Source Heat Pump, and Hybrid Heat Pump. Air-to-Air Heat Pump segment held the largest market share in 2021. These solutions are becoming more and more popular because they allow for both space heating and hot water supply. In addition, they can produce up to three times as much heat energy as electricity. Low installation costs, a high seasonal coefficient of performance, and improved performance are further advantages. Advanced air-source heat pumps have been made possible by technological advances in variable-speed blowers, coil design, thermostatic expansion valves, and electric motors.

Heat Pump Market Key Players:

• Rheem(US)
• Emerson Electric Co (US)
• Lennox International (US)
• Carrier (US)
• Stiebel Eltron (Germany)
• GEA Group (Germany)
• Vissemann (Germany)
• NIBE (Sweden)
• Ingersoll Rand (Ireland)
• Glen Dimplex (Ireland)
• Johnson Control (Ireland)
• Trane Technologies (Ireland)
• Danfoss (Denmark)
• Midea (China)
• Samsung(South Korea)
• Gaungzhou Sprsun New Energy Technology Development Co. Limited (China)
• Panasonic (Japan)
• Daikin (Japan)
• Hitachi (Japan)
• Mitsubishi Electric Corporation (Japan)
• Fujitsu General(Japan)
• LG Electronics (South Korea)
• Thermax Limited (India)

COVID-19 Impact Analysis on Heat Pump Market: The research also addresses the impact of COVID-19 on the Heat Pump market. The basic purpose of this study is to help the user understand the market in terms of definition, segmentation, market potential, noteworthy trends, and the issues that the industry is facing across key regions. The study provides micro and macroeconomic analysis of the total impact of COVID-19 on the Heat Pump Market. The specific analysis focuses on market share and size, which clearly demonstrates the influence that the pandemic has had and will have on the worldwide Heat Pump Market in the next years.

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