The global heat pump market size was USD 102.93 billion in 2023, calculated at USD 112.71 billion in 2024 and is expected to reach around USD 275.93 billion by 2034, expanding at a CAGR of 9.4% from 2024 to 2034.
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
5.1. COVID-19 Landscape: Heat Pump Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
8.1. Heat Pump Market, by Technology Type, 2024-2034
8.1.1. Water Source
8.1.1.1. Market Revenue and Forecast (2021-2034)
8.1.2. Air Source
8.1.2.1. Market Revenue and Forecast (2021-2034)
8.1.3. Hybrid Heat Pump
8.1.3.1. Market Revenue and Forecast (2021-2034)
8.1.4. Ground Source
8.1.4.1. Market Revenue and Forecast (2021-2034)
9.1. Heat Pump Market, by Application, 2024-2034
9.1.1. Industrial
9.1.1.1. Market Revenue and Forecast (2021-2034)
9.1.2. Commercial
9.1.2.1. Market Revenue and Forecast (2021-2034)
9.1.3. Residential
9.1.3.1. Market Revenue and Forecast (2021-2034)
10.1. Heat Pump Market, by Rated Capacity Type, 2024-2034
10.1.1. Up to 10 kW
10.1.1.1. Market Revenue and Forecast (2021-2034)
10.1.2. 10 – 20 kW
10.1.2.1. Market Revenue and Forecast (2021-2034)
10.1.3. 20 – 30 kW
10.1.3.1. Market Revenue and Forecast (2021-2034)
10.1.4. Above 30 kW
10.1.4.1. Market Revenue and Forecast (2021-2034)
11.1. Heat Pump Market, by Refrigerant Type, 2024-2034
11.1.1. R410A
11.1.1.1. Market Revenue and Forecast (2021-2034)
11.1.2. R407C
11.1.2.1. Market Revenue and Forecast (2021-2034)
11.1.3. R744
11.1.3.1. Market Revenue and Forecast (2021-2034)
11.1.4. Others
11.1.4.1. Market Revenue and Forecast (2021-2034)
12.1. North America
12.1.1. Market Revenue and Forecast, by Technology (2021-2034)
12.1.2. Market Revenue and Forecast, by Application (2021-2034)
12.1.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.1.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Technology (2021-2034)
12.1.5.2. Market Revenue and Forecast, by Application (2021-2034)
12.1.5.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.1.5.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Technology (2021-2034)
12.1.6.2. Market Revenue and Forecast, by Application (2021-2034)
12.1.6.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.1.6.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Technology (2021-2034)
12.2.2. Market Revenue and Forecast, by Application (2021-2034)
12.2.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.2.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Technology (2021-2034)
12.2.5.2. Market Revenue and Forecast, by Application (2021-2034)
12.2.5.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.2.5.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Technology (2021-2034)
12.2.6.2. Market Revenue and Forecast, by Application (2021-2034)
12.2.6.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.2.6.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Technology (2021-2034)
12.2.7.2. Market Revenue and Forecast, by Application (2021-2034)
12.2.7.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.2.7.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Technology (2021-2034)
12.2.8.2. Market Revenue and Forecast, by Application (2021-2034)
12.2.8.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.2.8.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Technology (2021-2034)
12.3.2. Market Revenue and Forecast, by Application (2021-2034)
12.3.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.3.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Technology (2021-2034)
12.3.5.2. Market Revenue and Forecast, by Application (2021-2034)
12.3.5.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.3.5.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Technology (2021-2034)
12.3.6.2. Market Revenue and Forecast, by Application (2021-2034)
12.3.6.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.3.6.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Technology (2021-2034)
12.3.7.2. Market Revenue and Forecast, by Application (2021-2034)
12.3.7.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.3.7.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Technology (2021-2034)
12.3.8.2. Market Revenue and Forecast, by Application (2021-2034)
12.3.8.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.3.8.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Technology (2021-2034)
12.4.2. Market Revenue and Forecast, by Application (2021-2034)
12.4.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.4.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Technology (2021-2034)
12.4.5.2. Market Revenue and Forecast, by Application (2021-2034)
12.4.5.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.4.5.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Technology (2021-2034)
12.4.6.2. Market Revenue and Forecast, by Application (2021-2034)
12.4.6.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.4.6.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Technology (2021-2034)
12.4.7.2. Market Revenue and Forecast, by Application (2021-2034)
12.4.7.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.4.7.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Technology (2021-2034)
12.4.8.2. Market Revenue and Forecast, by Application (2021-2034)
12.4.8.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.4.8.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Technology (2021-2034)
12.5.2. Market Revenue and Forecast, by Application (2021-2034)
12.5.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.5.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Technology (2021-2034)
12.5.5.2. Market Revenue and Forecast, by Application (2021-2034)
12.5.5.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.5.5.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Technology (2021-2034)
12.5.6.2. Market Revenue and Forecast, by Application (2021-2034)
12.5.6.3. Market Revenue and Forecast, by Rated Capacity Type (2021-2034)
12.5.6.4. Market Revenue and Forecast, by Refrigerant Type (2021-2034)
13.1. Daikin Industries Ltd.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Glen Dimplex Group
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Ingersoll Rand Plc
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Melrose Industries PLC
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Mitsubishi Electric Corporation
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. NIBE Industrier AB
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. StiebelEltron
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Vaillant Group
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. ViessmannWerke GmbH & Co. KG
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Panasonic Corporation
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
15.1. About Us
15.2. Glossary of Terms
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