Global Pool Heat Pumps Market to Grow with a CAGR of 5.33% through 2028
Increasing establishments of
swimming pools, the implementation of various government initiatives to promote
the use of renewable energy sources are factors driving the Global Pool Heat
Pumps market in the forecast period 2024-2028.
According to the TechSci Research
report, “Pool Heat Pumps Market –
Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast,
2018-2028F”, the Global Pool Heat Pumps Market stood at USD2.11
billion in 2022 and is anticipated to grow with a CAGR of 5.33% in the forecast
period, 2024-2028. The pool heat pumps market is driven by a combination of
factors that include the increasing number of swimming pools, the emphasis on
energy efficiency and cost savings, growing environmental awareness,
geographical climate conditions, technological advancements, and government
incentives and regulations. These drivers collectively contribute to the
market's growth and make pool heat pumps an attractive choice for pool owners
and businesses seeking efficient, eco-friendly, and sustainable pool.
As consumers become more
energy-conscious and look for ways to reduce operating costs, variable-speed
compressors are gaining popularity as an energy-efficient and cost-effective
solution. This trend is expected to continue driving innovation in pool heat
pump technology.
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The pool heat pumps market is a segment
within the broader heating, ventilation, and air conditioning (HVAC) industry.
It encompasses the production, distribution, and installation of pool heat
pumps, which are devices designed to efficiently heat swimming pools and extend
the swimming season. Pool heat pumps work by extracting heat from the
surrounding air and transferring it to the pool water. Key trends, including
smart technology integration, variable-speed compressors, environmentally
friendly refrigerants, and hybrid systems, are shaping the market's future.
However, challenges related to initial costs, energy efficiency in cold
climates, maintenance, and competition from alternative heating methods
persist. Pool heat pumps may struggle to operate efficiently in extremely cold
climates with low air temperatures. This limitation can affect their
performance and heating capacity.
The integration of smart technology
enhances user convenience, energy efficiency, and control over pool heating
systems. As consumers increasingly seek smart home solutions, this trend is
likely to continue shaping the pool heat pumps market. One of the most
significant trends in the pool heat pumps market is the integration of smart
technology. Manufacturers are increasingly incorporating smart features and connectivity
into their pool heat pump systems, allowing pool owners to control and monitor
their heating systems remotely. Ensuring the proper maintenance and longevity
of pool heat pumps can be a challenge, as neglecting maintenance can lead to
reduced efficiency and costly repairs or replacements.
Hybrid pool heating systems, which
combine multiple heating methods for optimal efficiency and versatility, are
gaining traction in the market. These systems integrate pool heat pumps with
other heating sources like gas heaters, solar panels, or electric resistance
heaters. The market for pool heat pumps is expanding beyond traditional
swimming pools to include hot tubs and spas. Hot tubs and spas are becoming
increasingly popular for relaxation and therapeutic purposes, and consumers are
looking for efficient heating solutions to maintain water temperatures. The
global pool heat pumps market has witnessed substantial growth and
transformation over the years due to various factors, including increasing pool
ownership, rising environmental concerns, and advancements in technology.
The global Pool Heat Pumps market is
segmented based on type, capacity, end-user and region.
Based on product type, the air source
and water/geothermal source types of pool heat pumps are available on the
global market. In 2022, the air source heat pump dominated the market, and this
dominance is anticipated to last the entire forecast period.
By region, North America accounted
largest share of the global market for pool heat pumps. The market for
residential structures in the U.S. is dominated by fossil fuels, therefore
there is still room for pool heat pump development there.
Major companies operating in the global
pool heat pumps market are:
- AquaPro
Systems
- Dantherm AS
- Elecro
Engineering Ltd.
- G&F
Manufacturing
- Hayward
Industries Inc.
- Pahlen AB
- Pentair Plc
- Rheem
Manufacturing Co.
- Team Horner
Group
- Thermeau
Industries inc.
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“The global pool heat pumps market has
evolved significantly, driven by factors such as increasing pool ownership,
energy efficiency concerns, environmental awareness, and technological
advancements. Regional dynamics also play a crucial role in market growth and
preferences. As the industry continues to innovate and address these
challenges, the global pool heat pumps market is expected to expand further,
offering efficient and sustainable heating solutions for pool owners
worldwide.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Pool Heat Pumps Market By Type (Air Source and Water/Geothermal Source), By
Capacity (Less than 20kW, 10kW – 20kW, More than 10kW), By End-user
(Residential, Commercial), By Region, By Competition Forecast & Opportunities, 2018-2028F, has evaluated the future
growth potential of the Pool Heat Pumps market globally and provides statistics
and information on market structure, size, share, and future growth. The report
provides cutting-edge market intelligence and helps decision-makers to make
sound investment decisions. Besides, the report also identifies the emerging
trends along with essential drivers, challenges, and opportunities present in
the market of Pool Heat Pumps globally.
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