Heat Pumps: Global Markets to 2026

Report Highlights

The global market for heat pumps should grow from $60.4 billion in 2021 to $96.7 billion by 2026, at compound annual growth rate (CAGR) of 9.9% for the period of 2021-2026.

Report Includes

• 91 data tables and 58 additional tables
• An up-to-date analysis of current and future global markets for heat pump within the industry
• Analyses of the global market trends, with data from 2020, estimates for 2021, and projections of compound annual growth rates (CAGRs) through 2026
• Estimation of the market size (in value and volumetric terms) and revenue forecast (in USD) for global heat pump markets, and their corresponding market share analysis by type, rated capacity, end user industry and geography
• In-depth information (facts and figures) concerning the major factors influencing the progress of the market (drivers, restraints, opportunities, and industry-specific challenges) with respect to specific growth trends, upcoming prospects and contributions to the overall market
• Country specific data and analysis for the heat pump market featuring China, Japan, India, South Korea, the U.S., Canada, Mexico, France, Germany, Italy, Spain, Brazil, Chile, Argentina, the UAE, Saudi Arabia and South Africa
• Impact of COVID-19 on the progress of global heat pump market, and pandemic implications on heat pump manufacturing and supply chains industry
• Insight into the list of global market players operating; their key competitive landscape and company share analysis
• Assessment of the competitive developments such as joint ventures, mergers and acquisitions, new product development, expansions, impact of government regulations and R&D activities in the global heat pump market
• Company profiles descriptions of the leading market participants, including AAON Inc., Daikin Industries Ltd., Hitachi Ltd., Mitsubishi Electric Corp., and Panasonic Corp.

Report Scope

The report includes details about different types of heat pumps such as air source, water source and geothermal/ground source heat pumps. It has a detailed analysis that covers the manufacturers of heat pumps as well as the trends and opportunities that are prevailing in the market and can result in the future growth of the market. The market values are estimated based on multiple factors and analysis of manufacturers’ revenue. Market dynamics within each industry are identified. Technological advancements and trends are reviewed, and other influential factors such as economic conditions and standards are discussed. Because this is a global study, BCC Research analyzes domestic and international technological issues and economic considerations.

The market segments of the report are focused on the technical and commercial aspects of heat pump installations in different end-user segments in the residential, commercial and industrial sectors. The report also provides the policy and regulatory frameworks for the installation of heat pumps by different processing industries. Installations must operate within these frameworks in order to maintain environmental sustainability and to comply with government regulations.

The global heat pump market is also analyzed by global, regional as well as the country-wise segments. The geographical segments are forecast for the period 2021 to 2026. Furthermore, the report features a comprehensive overview of the competitive landscape of the market, including a detailed analysis of key market players and a list of small and regional market players.

The currency used in this report is U.S. dollars, with market size is indicated in U.S. billions of dollars and U.S. millions of dollars. For companies reporting their revenues in U.S. dollars, the values were simply drawn directly from company annual reports; and for companies that reported their revenues in other currencies (Euros and Pounds), the average annual currency conversion rate was used for the particular year to convert annual report values into U.S. dollars. The conversion rate for each currency conversion is provided in the report.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

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