United States Air Source Heat Pump Market to be Dominated by Air to Water Heat Pumps During the Forecast Period
Lower Energy Costs, Longer
Lifetime, and Less Impact on Environment Drive the Air Source Heat Pump Market in
the United States.
According to TechSci Research report, “United States Air Source Heat Pump Market”- By Region, Competition Forecast and Opportunities, 2018-2028F”. The United States air source heat pump market is expected to grow
exponentially at an impressive CAGR. The market is driven by increasing
government initiatives, improved demand for energy-efficient heating, and low running
cost.
An effective heating and cooling system, air source heat pumps can
produce one to three times as much heat as they need. They are more efficient
because they can move or transfer heat from the air as opposed to conventional
systems, which must convert it from a fuel source.
Except for areas that experienced prolonged periods of subfreezing
weather, almost all regions of the United States have used air-source heat
pumps for many years. However, air-source heat pump technology has improved
recently to the point where it now presents a reliable alternative to
traditional space heating in colder climates.
Due to the mild weather in southern U.S., the houses, don't require
extensive heating capacity, due to which air-source heat pumps have been used
there broadly. However, because of technological advancements, heat pump units
may compete well with electric resistance, gas, and oil furnace heat systems.
An air source heat pump can operate independently or with the addition of a gas
furnace unit. As a result of the system taking on some of the heating load, the
backup furnace system uses less energy overall, which improves the home's
efficiency and lowers energy bills.
According to a study by the Northeast Energy Efficiency Partnerships,
installing units made for colder climates in the Northeast and Mid-Atlantic
regions can result in annual savings of about 3,000 kWh or USD 459 compared to
electric resistance heaters and 6,200 kWh or USD 948 when compared to oil
systems. The average yearly savings when replacing oil or operating the oil
system less frequently, is close to 3,000 kWh, or almost USD 300.
In terms of air-to-air heat pumps, the market is divided into ducted
heat pumps and ductless heat pumps. A ducted air source heat pump has a system of air ducts and vents that
circulate conditioned air around the building and return it to the system. Duct
systems are typically used in newly constructed homes or to repair out-of-date
appliances in homes that already have a duct system.
Since they don't need ductwork, ductless heat pump systems have a wide
range of versatility. The only change required to the house is a simple
three-inch hole punched in the outer wall. The fix is necessary to enable
access to the wiring connecting the two components and the copper drain and
suction lines. Ductless systems are excellent for applications like room
extensions and garages where a separate heating or cooling system might be
desired. They also provide a practical approach to enhance or add to existing
heating and cooling in rooms that may need it.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on "United States Air Source Heat Pump Market".
The United States
air source heat pump market is segmented into process, end use, sales channel,
region, and company. Based on the process, the market is segmented into
air-to-air (ducts, ductless) and air-to-water (split, integrated). Based on end
use, the market is divided into residential, hotels & resorts, gyms &
spas, education, food service, and others. Based on sales channel, the market
is fragmented into plumbers, dealers & contractors, retail, direct sales,
online, and others. The market analysis also studies the regional segmentation
divided into South, Mid-West, West, and North-East.
The air source
heat pump (ASHP) uses electricity as an input to draw heat from the surrounding
air and provide hot water that can reach 90 degrees Celsius. The ambient air
becomes more relaxed due to the heat being removed. As a result, the demand for
hot water and cold air is fueling the development of air-source heat pumps.
Additionally, as
the need for air conditioners declines, heat pump suppliers will have more opportunities
to expand in the market. For instance, the US shipped 4,939,663 air
conditioners in September 2022, down from the 5,059,384 units shipped in
September 2021, according to the Air-conditioning, Heating, and Refrigeration
Institute.
Major operating
companies operating in the United States Air Source Heat Pump Market are:
- Daikin U.S. Corporation
- Carrier Corporation
- Rheem Manufacturing Company
- Trane US, Inc.
- Johnson Controls, Inc.
- Lennox International Inc.
- Bosch Thermotechnology Corp.
- Emerson Electric Co.
- GE Appliances
- Stiebel Eltron, Inc.
Companies are
also doing constant innovation to give them a competitive edge. For instance,
Gradient has launched a home window heat pump for 2021 that uses a
climate-friendly refrigerant that may be propane (R290) and helps cut
greenhouse gas emissions by 75% compared to conventional systems to provide
heating and cooling throughout the year.
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“The use of heat
pumps has many advantages. Compared to a gas or electric heating system, an air-source
heat pump can help consumers save money on energy costs and lessen their carbon
impact. The adaptability and affordability of air-source heat pumps are two of
their main benefits. An ASHP (Air Source Heat Pump) can be used for space
heating or water heating and can function for heating and cooling. These
benefits of air-source heat pumps are driving the market and causing it to
expand throughout the forecast period.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
United States Air Source
Heat Pump Market By Process (Air to Air (Ducts, Ductless), Air to Water (Split,
Integrated)) By End Use (Residential, Hotels & Resorts, Gym & Spas,
Education, Food Service, and Others (Healthcare, Offices, etc.)), By Sales
Channel (Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and
Others (Distributors, Builders, etc.)), By Region, By Company, Forecast &
Opportunities, 2018-2028F, has
evaluated the future growth potential of the United States air source heat pump
market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the air source heat pump market
in the United States.
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