Air Source Heat Pump Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented 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, Competition

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Summary

Report Description

The global air source heat pump market is driven by the acceleration of climate change and the subsequent increase in the deployment of clean and sustainable energy solutions. The demand for alternative energy sources with increased efficiency and sustainability benefits has increased due to the rapid growth in the world's population and the increasing cost of gasoline. This has prompted significant industry players to launch R&D initiatives to create cutting-edge technologies and HVAC systems with lower carbon footprints and GHG emissions. For example, in June 2022, the maker of HVAC systems, Trane, introduced the Ascend model ACX. This first air-to-water heat pump enables households to seek decarbonization through electric cooling and heating. The most recent technology includes a heat pump and chiller technologies, providing residential structures with space heating and cooling features. The many economies' accelerating shift to a green economy could improve the industry outlook.

Over the past few years, policy support for heat pumps and necessary technology for heat decarbonization has increased in many countries. According to the International Energy Agency (IEA), in 2021, 190 million heat pump units were operating in buildings globally. Over the past few years, the global stock of heat pumps has grown consistently, especially in the vital heating markets of North America, Europe, and northern and eastern Asia. Sales of heat pumps had record-high growth in 2021, particularly in Europe, China, and the United States. Despite supply chain issues, 2022 also exhibits early signs of robust growth. Energy security, especially in the European Union, is a significant driver for heat pumps outside of climate goals, with increased policy emphasis in 2022. Reversible heat pumps are used to meet an increasing need for space cooling, contributing to the deployment.

According to the IEA's report, global heat pump sales climbed by more than 13% in 2021. Sales in the European Union, where France, Italy, and Germany are the three biggest markets, increased by over 35% annually and surpassed 2.2 million units. The following most active markets for air-source heat pumps were China (up 13%), Japan (up 13%), and the United States (up 15%). With more than 60% of the global market share in 2021, air-source heat pumps dominate sales. Ground-source (or geothermal) heat pumps are more efficient at heating and cooling than air-source heat pumps. Still, because of their higher initial cost and the specialized knowledge and skills needed for installation, Heat Pumps only account for around 2.5% of global sales in the European Union.

Fluctuations in Temperature Across the Globe is Fueling the Market Growth

Temperature variations among different regions, as a significant element, is influencing the need for air-source heat pumps. In many parts of the world, winters are becoming colder, and summers are becoming hotter, leading to greater demand for heating and cooling solutions. Air source heat pumps are a popular choice for homeowners and businesses because they are highly efficient, using renewable energy from the air to provide heating and cooling without relying on fossil fuels. In addition, air source heat pumps can be used in a wide range of climates, from cold northern regions to hot and humid tropical areas. This versatility makes them a popular choice for both residential and commercial applications, driving the growth of the air source heat pump market. Rising CO2 levels have brought extreme climate changes to numerous economies worldwide, which is driving up the demand for effective heating and cooling systems. For instance, Canada's northwest territories experienced their coldest day in December 2021 when the temperature dropped to minus -51°C. On the other side, Louisburg and Nova Scotia in Canada had the day's hottest temperatures (averaging 4.6°C). The air source heat pump market landscape will be improved by the deliberate switch from fossil fuel-powered boilers toward low carbon heat pumps due to its capacity to operate over a wide range of temperatures to service heating & cooling needs efficiently. Furthermore, as governments around the world increasingly focus on reducing carbon emissions and combating climate change, air source heat pumps are seen as a key technology for achieving these goals. Many governments are introducing incentives and regulations to encourage the adoption of air source heat pumps and other renewable energy technologies, further driving the growth of the market.


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Increasing Government Initiatives is Fueling the Market Growth

The global market for air source heat pumps is growing due to the adoption of a clear legal framework and the availability of financial assistance programs, including tax benefits, rebates, and subsidies. To minimize their carbon footprint, the governments of many nations are investing in and taking steps to promote the market for air-source heat pumps. Europe's market is expanding due to their efforts to adopt a tougher regulation framework, new heat pump programs, and profitable national goals that complement the sector growth. For instance, Germany unveiled the Energy Efficiency Work Plan, which outlines its plans to construct over 500,000 heat pump units by 2024 and over 800,000 units annually, following the implementation of the heat pump mandate. Additionally, the nation intends to stop funding construction and gas heating projects that do not meet the new Efficiency House 40 requirement. The region's strict regulatory framework will boost the adoption of products in the area. Moreover, many governments are introducing incentives and regulations to encourage the adoption of air source heat pumps, such as tax credits, rebates, and grants for homeowners and businesses that install these systems. For example, in the United States, the federal government offers a tax credit of up to 26% of the cost of an air source heat pump installation. In addition, some governments are introducing regulations that require the use of air source heat pumps in certain types of buildings or in specific regions. For example, the Scottish government has set a target of installing 1 million air source heat pumps by 2030 and has introduced regulations requiring the use of these systems in all new buildings.

These government initiatives are driving demand for air source heat pumps, as homeowners and businesses are encouraged to adopt this technology in order to take advantage of incentives and meet regulatory requirements. This, in turn, is fueling the growth of the air source heat pump market, as manufacturers and installers work to meet the increasing demand.

Energy Efficiency of Heat Pumps is Aiding the Market Growth

Because they don't require a lot of electricity to operate, air-source heat pumps aid in energy conservation. A correctly designed air-source heat pump can provide a home with up to three times as much heat as the electrical energy it uses, according to the US Department of Energy. This is feasible because a heat pump transfer heat rather than converting it from a combustion heating system that uses fuel. The Northeast Energy Efficiency Partnerships found that installing an air-source heat pump resulted in annual savings of about 3,000 kWh (or USD459), compared to electric resistance heaters and 6,200 kWh (or USD948), compared to oil systems when entire units were replaced in the Northeast and Mid-Atlantic regions. The average annual savings are close to 3,000 kWh when replacing oil (i.e., the oil system is kept but uses less energy) (or about USD300). Future market growth is anticipated to be boosted by these reasons.

Poor Maintenance and Installation is Hindering the Market Growth

Poor installation, duct losses, and inadequate maintenance are a few challenges preventing the global market for air-source heat pumps from expanding. While air source heat pumps are highly efficient and cost-effective when installed and maintained correctly, they can become inefficient and unreliable when installation and maintenance are neglected. Improper installation, for example, can lead to a range of problems such as poor efficiency, increased energy consumption, and reduced system lifespan. Poor maintenance can lead to reduced efficiency, increased operating costs, and more frequent breakdowns. These issues can result in higher costs for homeowners and businesses and can also negatively impact the reputation of air source heat pumps in the market. Most heat pumps have serious installation or maintenance concerns, which reduces their effectiveness and performance. Over 50% of heat pumps have significant issues with insufficient airflow, leaky ducts, and incorrect refrigerant charge. Heat pumps' performance will deteriorate if regular maintenance and servicing are not performed. These factors are anticipated to restrain the market's expansion for air-source heat pumps.

Market Segmentation

The global air source heat pump market is segmented into the 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 (Healthcare, Offices, etc). Based on sales channel, the market is fragmented into plumbers, dealers & contractors, retail, direct sales, online, and others (Distributors, Builders, etc.). The market analysis also studies the regional segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

Vaillant Group, Swegon Group AB, Robert Bosch GmbH, Trane Technologies Company, LLC, NIBE Industrier AB, Corp., Rheem Manufacturing Company, Viessmann Group, A. O. Smith Corporation, DAIKIN INDUSTRIES, Ltd., Carrier Global Corporation, are among the major market players in the global platform that lead the market growth of the global air source heat pump market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion, Volume in Thousand Units and CAGR for 2018-2021 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Process

End Use

Sales Channel

Region

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa and South America

Country Scope

United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, Norway, Sweden, China, India, Japan, South Korea, Australia, New Zealand, Finland, Saudi Arabia, UAE, South Africa, Qatar, Kuwait, Brazil, Argentina, Colombia

Key Companies Profiled

Vaillant Group, Swegon Group AB, Robert Bosch GmbH, Trane Technologies Company, LLC, NIBE Industrier AB, Corp., Rheem Manufacturing Company, Viessmann Group, A. O. Smith Corporation, DAIKIN INDUSTRIES, Ltd., Carrier Global Corporation, etc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global air source heat pump market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Air Source Heat Pump Market, By Process:
    • Air-to-Air
    • Air-to-Water
  • Global Air Source Heat Pump Market, By End Use:
    • Residential
    • Hotels & Resorts
    • Gym & Spas
    • Education
    • Food Service
    • Others
  • Global Air Source Heat Pump Market, By Sales Channel:
    • Plumbers
    • Dealers & Contractors
    • Retail
    • Direct Sales
    • Online
    • Others
  • Air Source Heat Pump Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
      • Norway
      • Sweden
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • New Zealand
      • Finland
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • UAE
      • Qatar
      • Kuwait
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Air Source Heat Pump market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Air Source Heat Pump Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Sample Size Determination

4.2.  Respondent Demographics

4.2.1.     By Gender

4.2.2.     By Age

4.2.3.     By Occupation

4.3.  Brand Awareness

4.4.  Frequency of Usage

4.5.  Factors Influencing Purchase Decision

4.6.  Brand Satisfaction

4.7.  Customer Satisfaction

4.8.  Challenges Faced Post Purchase

5.    Global Air Source Heat Pump Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.1.2.     By Volume       

5.2.  Market Share & Forecast

5.2.1.     By Process Market Share Analysis (Air to Air, Air to Water)

5.2.2.     By End Use Market Share Analysis (Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.)

5.2.3.     By Sales Channel (Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and Others (Distributors, Builders, etc.))

5.2.4.     By Regional Market Share Analysis

5.2.4.1.         North America Market Share Analysis

5.2.4.2.         Europe Market Share Analysis

5.2.4.3.         Asia -Pacific Market Share Analysis

5.2.4.4.         Middle East & Africa Market Share Analysis

5.2.4.5.         South America Market Share Analysis

5.2.5.     By Company Market Share Analysis

5.3.  Global Air Source Heat Pump Market Mapping & Opportunity Assessment

5.3.1.     By Process Market Mapping & Opportunity Assessment

5.3.2.     By End-Use Market Mapping & Opportunity Assessment

5.3.3.     By SALES Channel Market Mapping & Opportunity Assessment

5.3.4.     By Regional Market Mapping & Opportunity Assessment

6.    North America Air Source Heat Pump Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.1.2.     By Volume

6.2.  Market Share & Forecast

6.2.1.     By Air to Air Market Share Analysis

6.2.2.     By Air to Water Market Share Analysis

6.2.3.     By End-Use Market Share Analysis

6.2.4.     By Sales Channel Market Share Analysis

6.2.5.     By Country

6.2.5.1.         United States Air Source Heat Pump Market Outlook

6.2.5.1.1.             Market Size & Forecast

6.2.5.1.1.1. By Value

6.2.5.1.1.2. By Volume

6.2.5.1.2.             Market Share & Forecast

6.2.5.1.2.1. By Air to Air Market Share Analysis

6.2.5.1.2.2. By Air to Water Market Share Analysis

6.2.5.1.2.3. By End-Use Market Share Analysis

6.2.5.1.2.4. By Sales Channel Market Share Analysis

6.2.5.2.         Canada Air Source Heat Pump Market Outlook

6.2.5.2.1.             Market Size & Forecast

6.2.5.2.1.1. By Value

6.2.5.2.1.2. By Volume

6.2.5.2.2.             Market Share & Forecast

6.2.5.2.2.1. By Air to Air Market Share Analysis

6.2.5.2.2.2. By Air to Water Market Share Analysis

6.2.5.2.2.3. By End-Use Market Share Analysis

6.2.5.2.2.4. By Sales Channel Market Share Analysis

6.2.5.3.         Mexico Air Source Heat Pump Market Outlook

6.2.5.3.1.             Market Size & Forecast

6.2.5.3.1.1. By Value

6.2.5.3.1.2. By Volume

6.2.5.3.2.             Market Share & Forecast

6.2.5.3.2.1. By Air to Air Market Share Analysis

6.2.5.3.2.2. By Air to Water Market Share Analysis

6.2.5.3.2.3. By End-Use Market Share Analysis

6.2.5.3.2.4. By Sales Channel Market Share Analysis

7.    Europe Air Source Heat Pump Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.1.2.     By Volume

7.2.  Market Share & Forecast

7.2.1.     By Air to Air Market Share Analysis

7.2.2.     By Air to Water Market Share Analysis

7.2.3.     By End-Use Market Share Analysis

7.2.4.     By Sales Channel Market Share Analysis

7.2.5.     By Country

7.2.5.1.         United Kingdom Air Source Heat Pump Market Outlook

7.2.5.1.1.             Market Size & Forecast

7.2.5.1.1.1. By Value

7.2.5.1.1.2. By Volume

7.2.5.1.2.             Market Share & Forecast

7.2.5.1.2.1. By Air to Air Market Share Analysis

7.2.5.1.2.2. By Air to Water Market Share Analysis

7.2.5.1.2.3. By End-Use Market Share Analysis

7.2.5.1.2.4. By Sales Channel Market Share Analysis

7.2.5.2.         Germany Air Source Heat Pump Market Outlook

7.2.5.2.1.             Market Size & Forecast

7.2.5.2.1.1. By Value

7.2.5.2.1.2. By Volume

7.2.5.2.2.             Market Share & Forecast

7.2.5.2.2.1. By Air to Air Market Share Analysis

7.2.5.2.2.2. By Air to Water Market Share Analysis

7.2.5.2.2.3. By End-Use Market Share Analysis

7.2.5.2.2.4. By Sales Channel Market Share Analysis

7.2.5.3.         France Air Source Heat Pump Market Outlook

7.2.5.3.1.             Market Size & Forecast

7.2.5.3.1.1. By Value

7.2.5.3.1.2. By Volume

7.2.5.3.2.             Market Share & Forecast

7.2.5.3.2.1. By Air to Air Market Share Analysis

7.2.5.3.2.2. By Air to Water Market Share Analysis

7.2.5.3.2.3. By End-Use Market Share Analysis

7.2.5.3.2.4. By Sales Channel Market Share Analysis

7.2.5.4.         Spain Air Source Heat Pump Market Outlook

7.2.5.4.1.             Market Size & Forecast

7.2.5.4.1.1. By Value

7.2.5.4.1.2. By Volume

7.2.5.4.2.             Market Share & Forecast

7.2.5.4.2.1. By Air to Air Market Share Analysis

7.2.5.4.2.2. By Air to Water Market Share Analysis

7.2.5.4.2.3. By End-Use Market Share Analysis

7.2.5.4.2.4. By Sales Channel Market Share Analysis

7.2.5.5.         Italy Air Source Heat Pump Market Outlook

7.2.5.5.1.             Market Size & Forecast

7.2.5.5.1.1. By Value

7.2.5.5.1.2. By Volume

7.2.5.5.2.             Market Share & Forecast

7.2.5.5.2.1. By Air to Air Market Share Analysis

7.2.5.5.2.2. By Air to Water Market Share Analysis

7.2.5.5.2.3. By End-Use Market Share Analysis

7.2.5.5.2.4. By Sales Channel Market Share Analysis

7.2.5.6.         Norway Air Source Heat Pump Market Outlook

7.2.5.6.1.             Market Size & Forecast

7.2.5.6.1.1. By Value

7.2.5.6.1.2. By Volume

7.2.5.6.2.             Market Share & Forecast

7.2.5.6.2.1. By Air to Air Market Share Analysis

7.2.5.6.2.2. By Air to Water Market Share Analysis

7.2.5.6.2.3. By End-Use Market Share Analysis

7.2.5.6.2.4. By Sales Channel Market Share Analysis

7.2.5.7.         Sweden Air Source Heat Pump Market Outlook

7.2.5.7.1.             Market Size & Forecast

7.2.5.7.1.1. By Value

7.2.5.7.1.2. By Volume

7.2.5.7.2.             Market Share & Forecast

7.2.5.7.2.1. By Air to Air Market Share Analysis

7.2.5.7.2.2. By Air to Water Market Share Analysis

7.2.5.7.2.3. By End-Use Market Share Analysis

7.2.5.7.2.4. By Sales Channel Market Share Analysis

8.    Asia-Pacific Air Source Heat Pump Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.1.2.     By Volume

8.2.  Market Share & Forecast

8.2.1.     By Air to Air Market Share Analysis

8.2.2.     By Air to Water Market Share Analysis

8.2.3.     By End-Use Market Share Analysis

8.2.4.     By Sales Channel Market Share Analysis

8.2.5.     By Country

8.2.5.1.         China Air Source Heat Pump Market Outlook

8.2.5.1.1.             Market Size & Forecast

8.2.5.1.1.1. By Value

8.2.5.1.1.2. By Volume

8.2.5.1.2.             Market Share & Forecast

8.2.5.1.2.1. By Air to Air Market Share Analysis

8.2.5.1.2.2. By Air to Water Market Share Analysis

8.2.5.1.2.3. By End-Use Market Share Analysis

8.2.5.1.2.4. By Sales Channel Market Share Analysis

8.2.5.2.         Japan Air Source Heat Pump Market Outlook

8.2.5.2.1.             Market Size & Forecast

8.2.5.2.1.1. By Value

8.2.5.2.1.2. By Volume

8.2.5.2.2.             Market Share & Forecast

8.2.5.2.2.1. By Air to Air Market Share Analysis

8.2.5.2.2.2. By Air to Water Market Share Analysis

8.2.5.2.2.3. By End-Use Market Share Analysis

8.2.5.2.2.4. By Sales Channel Market Share Analysis

8.2.5.3.         India Air Source Heat Pump Market Outlook

8.2.5.3.1.             Market Size & Forecast

8.2.5.3.1.1. By Value

8.2.5.3.1.2. By Volume

8.2.5.3.2.             Market Share & Forecast

8.2.5.3.2.1. By Air to Air Market Share Analysis

8.2.5.3.2.2. By Air to Water Market Share Analysis

8.2.5.3.2.3. By End-Use Market Share Analysis

8.2.5.3.2.4. By Sales Channel Market Share Analysis

8.2.5.4.         Australia Air Source Heat Pump Market Outlook

8.2.5.4.1.             Market Size & Forecast

8.2.5.4.1.1. By Value

8.2.5.4.1.2. By Volume

8.2.5.4.2.             Market Share & Forecast

8.2.5.4.2.1. By Air to Air Market Share Analysis

8.2.5.4.2.2. By Air to Water Market Share Analysis

8.2.5.4.2.3. By End-Use Market Share Analysis

8.2.5.4.2.4. By Sales Channel Market Share Analysis

8.2.5.5.         New Zealand Air Source Heat Pump Market Outlook

8.2.5.5.1.             Market Size & Forecast

8.2.5.5.1.1. By Value

8.2.5.5.1.2. By Volume

8.2.5.5.2.             Market Share & Forecast

8.2.5.5.2.1. By Air to Air Market Share Analysis

8.2.5.5.2.2. By Air to Water Market Share Analysis

8.2.5.5.2.3. By End-Use Market Share Analysis

8.2.5.5.2.4. By Sales Channel Market Share Analysis

8.2.5.6.         South Korea Air Source Heat Pump Market Outlook

8.2.5.6.1.             Market Size & Forecast

8.2.5.6.1.1. By Value

8.2.5.6.1.2. By Volume

8.2.5.6.2.             Market Share & Forecast

8.2.5.6.2.1. By Air to Air Market Share Analysis

8.2.5.6.2.2. By Air to Water Market Share Analysis

8.2.5.6.2.3. By End-Use Market Share Analysis

8.2.5.6.2.4. By Sales Channel Market Share Analysis

8.2.5.7.         Finland Air Source Heat Pump Market Outlook

8.2.5.7.1.             Market Size & Forecast

8.2.5.7.1.1. By Value

8.2.5.7.1.2. By Volume

8.2.5.7.2.             Market Share & Forecast

8.2.5.7.2.1. By Air to Air Market Share Analysis

8.2.5.7.2.2. By Air to Water Market Share Analysis

8.2.5.7.2.3. By End-Use Market Share Analysis

8.2.5.7.2.4. By Sales Channel Market Share Analysis

9.    Middle East & Africa Air Source Heat Pump Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.1.2.     By Volume

9.2.  Market Share & Forecast

9.2.1.     By Air to Air Market Share Analysis

9.2.2.     By Air to Water Market Share Analysis

9.2.3.     By End-Use Market Share Analysis

9.2.4.     By Sales Channel Market Share Analysis

9.2.5.     By Country

9.2.5.1.         Saudi Arabia Air Source Heat Pump Market Outlook

9.2.5.1.1.             Market Size & Forecast

9.2.5.1.1.1. By Value

9.2.5.1.1.2. By Volume

9.2.5.1.2.             Market Share & Forecast

9.2.5.1.2.1. By Air to Air Market Share Analysis

9.2.5.1.2.2. By Air to Water Market Share Analysis

9.2.5.1.2.3. By End-Use Market Share Analysis

9.2.5.1.2.4. By Sales Channel Market Share Analysis

9.2.5.2.         UAE Air Source Heat Pump Market Outlook

9.2.5.2.1.             Market Size & Forecast

9.2.5.2.1.1. By Value

9.2.5.2.1.2. By Volume

9.2.5.2.2.             Market Share & Forecast

9.2.5.2.2.1. By Air to Air Market Share Analysis

9.2.5.2.2.2. By Air to Water Market Share Analysis

9.2.5.2.2.3. By End-Use Market Share Analysis

9.2.5.2.2.4. By Sales Channel Market Share Analysis

9.2.5.3.         Qatar Air Source Heat Pump Market Outlook

9.2.5.3.1.             Market Size & Forecast

9.2.5.3.1.1. By Value

9.2.5.3.1.2. By Volume

9.2.5.3.2.             Market Share & Forecast

9.2.5.3.2.1. By Air to Air Market Share Analysis

9.2.5.3.2.2. By Air to Water Market Share Analysis

9.2.5.3.2.3. By End-Use Market Share Analysis

9.2.5.3.2.4. By Sales Channel Market Share Analysis

9.2.5.4.         Kuwait Air Source Heat Pump Market Outlook

9.2.5.4.1.             Market Size & Forecast

9.2.5.4.1.1. By Value

9.2.5.4.1.2. By Volume

9.2.5.4.2.             By Air to Air Market Share Analysis

9.2.5.4.3.             By Air to Water Market Share Analysis

9.2.5.4.4.             By End-Use Market Share Analysis

9.2.5.4.5.             By Sales Channel Market Share Analysis

9.2.5.5.         South Africa Air Source Heat Pump Market Outlook

9.2.5.5.1.             Market Size & Forecast

9.2.5.5.1.1. By Value

9.2.5.5.1.2. By Volume

9.2.5.5.2.             Market Share & Forecast

9.2.5.5.2.1. By Air to Air Market Share Analysis

9.2.5.5.2.2. By Air to Water Market Share Analysis

9.2.5.5.2.3. By End-Use Market Share Analysis

9.2.5.5.2.4. By Sales Channel Market Share Analysis

10.   South America Air Source Heat Pump Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.1.2.  By Volume

10.2.              Market Share & Forecast

10.2.1.  By Air to Air Market Share Analysis

10.2.2.  By Air to Water Market Share Analysis

10.2.3.  By End-Use Market Share Analysis

10.2.4.  By Sales Channel Market Share Analysis

10.2.5.  By Country

10.2.5.1.      Brazil Air Source Heat Pump Market Outlook

10.2.5.1.1.           Market Size & Forecast

10.2.5.1.1.1.               By Value

10.2.5.1.1.2.               By Volume

10.2.5.1.2.           Market Share & Forecast

10.2.5.1.2.1.               By Air to Air Market Share Analysis

10.2.5.1.2.2.               By Air to Water Market Share Analysis

10.2.5.1.2.3.               By End-Use Market Share Analysis

10.2.5.1.2.4.               By Sales Channel Market Share Analysis

10.2.5.2.      Argentina Air Source Heat Pump Market Outlook

10.2.5.2.1.           Market Size & Forecast

10.2.5.2.1.1.               By Value

10.2.5.2.1.2.               By Volume

10.2.5.2.2.           Market Share & Forecast

10.2.5.2.2.1.               By Air to Air Market Share Analysis

10.2.5.2.2.2.               By Air to Water Market Share Analysis

10.2.5.2.2.3.               By End-Use Market Share Analysis

10.2.5.2.2.4.               By Sales Channel Market Share Analysis

10.2.5.3.      Colombia Air Source Heat Pump Market Outlook

10.2.5.3.1.           Market Size & Forecast

10.2.5.3.1.1.               By Value

10.2.5.3.1.2.               By Volume

10.2.5.3.2.           Market Share & Forecast

10.2.5.3.2.1.               By Air to Air Market Share Analysis

10.2.5.3.2.2.               By Air to Water Market Share Analysis

10.2.5.3.2.3.               By End-Use Market Share Analysis

10.2.5.3.2.4.               By Sales Channel Market Share Analysis

11.  Market Dynamics

11.1.              Drivers

11.1.1.1.      Increasing Demand for Air to Air

11.1.1.2.      Rising Focus for Energy Efficient Products

11.1.1.3.      Low Running Cost

11.2.              Challenges

11.2.1.  High Installation Cost

11.2.2.  Increasing Competition

12.  Impact of COVID-19 on Global Air Source Heat Pump Market

12.1.              Impact Assessment Model       

12.1.1.  Key Segments Impacted

12.1.2.  Key Regions Impacted

12.1.3.  Key Countries Impacted

12.1.4.  Key Distribution Channel Impacted

13.  Market Trends & Developments

13.1.              Technological Advancement

13.2.              Increasing Government Initiatives

13.3.              Surge in Construction

13.4.              Growing Demand from Residential Sector

13.5.              Increasing Investment In R&D

14.  SWOT Analysis

14.1.              Strengths

14.2.              Weakness

14.3.              Opportunities

14.4.              Threats

15.  Porter’s Five Forces Model

15.1.              Competitive Landscape

15.2.              Buyer Power

15.3.              Supplier Power

15.4.              Threat of New Entrants

15.5.              Threat of Substitutes

16.  Import & Export Analysis

16.1.              Import of Top 5 Countries

16.1.1.  By Value

16.2.              Export of Top 5 Countries

16.2.1.  By Value

17.  Competitive Landscape

17.1.              Competition Outlook

17.2.              Company Profiles

17.2.1.  Vaillant Group

17.2.1.1.      Company Details

17.2.1.2.      Products & Services

17.2.1.3.      Financial (As Reported)

17.2.1.4.      Key Market Focus & Geographical Presence

17.2.1.5.      Recent Development

17.2.1.6.      Key Management Personnel

17.2.2.  Swegon Group AB

17.2.2.1.      Company Details

17.2.2.2.      Products & Services

17.2.2.3.      Financial (As Reported)

17.2.2.4.      Key Market Focus & Geographical Presence

17.2.2.5.      Recent Development

17.2.2.6.      Key Management Personnel

17.2.3.  Robert Bosch GmbH

17.2.3.1.      Company Details

17.2.3.2.      Products & Services

17.2.3.3.      Financial (As Reported)

17.2.3.4.      Key Market Focus & Geographical Presence

17.2.3.5.      Recent Development

17.2.3.6.      Key Management Personnel

17.2.4.  Trane Technologies Company, LLC

17.2.4.1.      Company Details

17.2.4.2.      Products & Services

17.2.4.3.      Financial (As Reported)

17.2.4.4.      Key Market Focus & Geographical Presence

17.2.4.5.      Recent Development

17.2.4.6.      Key Management Personnel

17.2.5.  NIBE Industrier AB, Corp.

17.2.5.1.      Company Details

17.2.5.2.      Products & Services

17.2.5.3.      Financial (As Reported)

17.2.5.4.      Key Market Focus & Geographical Presence

17.2.5.5.      Recent Development

17.2.5.6.      Key Management Personnel

17.2.6.  Rheem Manufacturing Company

17.2.6.1.      Company Details

17.2.6.2.      Products & Services

17.2.6.3.      Financial (As Reported)

17.2.6.4.      Key Market Focus & Geographical Presence

17.2.6.5.      Recent Development

17.2.6.6.      Key Management Personnel

17.2.7.  Viessmann Group

17.2.7.1.      Company Details

17.2.7.2.      Products & Services

17.2.7.3.      Financial (As Reported)

17.2.7.4.      Key Market Focus & Geographical Presence

17.2.7.5.      Recent Development

17.2.7.6.      Key Management Personnel

17.2.8.  A. O. Smith Corporation

17.2.8.1.      Company Details

17.2.8.2.      Products & Services

17.2.8.3.      Financial (As Reported)

17.2.8.4.      Key Market Focus & Geographical Presence

17.2.8.5.      Recent Development

17.2.8.6.      Key Management Personnel

17.2.9.  DAIKIN INDUSTRIES, Ltd.

17.2.9.1.      Company Details

17.2.9.2.      Products & Services

17.2.9.3.      Financial (As Reported)

17.2.9.4.      Key Market Focus & Geographical Presence

17.2.9.5.      Recent Development

17.2.9.6.      Key Management Personnel

17.2.10.                Carrier Global Corporation

17.2.10.1.    Company Details

17.2.10.2.    Products & Services

17.2.10.3.    Financial (As Reported)

17.2.10.4.    Key Market Focus & Geographical Presence

17.2.10.5.    Recent Development

17.2.10.6.    Key Management Personnel

18.  Strategic Recommendations/Action Plan

18.1.              Key Focus Areas

18.2.              Target Regions & Countries

18.3.              Target Technology

18.4.              Target Energy Source

Figures and Tables

Frequently asked questions

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The top companies operating in the market are Vaillant Group, Swegon Group AB, Robert Bosch GmbH, Trane Technologies Company, LLC, NIBE Industrier AB, Corp., Rheem Manufacturing Company, Viessmann Group, A. O. Smith Corporation, DAIKIN INDUSTRIES, Ltd., Carrier Global Corporation.

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The global Air Source Heat Pump is segmented into process, end use, sales channel and region.

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The contribution of heat pump technology in reducing carbon footprint, government regulations and incentives to improve energy efficiency are the factors propelling the growth of the air source heat pump market.

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Air source heat pumps have a long lifespan and can function for up to 20 years with the right maintenance. Additionally, the majority of air source heat pumps come with 5-year warranties. Due to the technological advancements, modern heat pumps may now operate effectively for almost 25 years before they need to be replaced.

Related Reports

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Parvati Sharma

Account Manager BD
Press Release

Air Source Heat Pump Market is Fueled by Air-to-Air Heat Pumps During the Forecast Period

Dec, 2022

Accelerating climate change, rising construction and consumer awareness towards energy efficient products is driving the global Air Source Heat Pump market.

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