Air Source Heat Pump Compressors Market Size & Share 2024 - 2032
Market Size by Type (Reciprocating, Scroll, Rotary, Screw, Centrifugal), Regional Outlook & Global Forecast.
Report ID: GMI8617
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Published Date: March 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Divyendu Sharma
Air Source Heat Pump Compressors Market Size
Air Source Heat Pump Compressors Market was valued at USD 12.6 billion in 2023 and set to grow at a CAGR of over 14.4% from 2024 to 2032. The rapidly shifting consumer preferences regarding efficient HVAC systems coupled with increasing demand for energy-efficient solutions will boost the industry growth.
Air Source Heat Pump Compressors Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The widespread implementation of beneficial heat pump rebates & incentive programs by relevant authorities has propelled the integration of HP units thereby complementing the business landscape. For instance, the Austrian government has implemented a subsidy program effective from January 2023 to December 2024, aimed at encouraging the use of heat pumps covering up to 20% of the total cost for new installations and up to 35% for retrofits, with a maximum grant limit of USD 5,000.
Air Source Heat Pump Compressors Market Trends
The shifting inclination toward decarbonization & electrification are augmenting the heat pump market, thereby propelling the demand for energy-efficient compressor units. In addition, ongoing research & development initiatives by the key industry players to unveil advanced HP units with components featuring enhanced operational capabilities will further augment the industry landscape. For instance, in September 2023, Carrier launched three new heat pump units with high temperature ratings suitable for a wide range of heavy-duty applications. The introduced air source heat pump product line called AquaForce 61CA are integrated with screw compressors and designed to attain a temperature of up to 82 °C.
Air Source Heat Pump Compressors Market Analysis
Based on the type, the market can be broadly divided into reciprocating, scroll, rotary, screw, and centrifugal. Scroll compressors across air source heat pumps are set to observe significant growth and surpass USD 21 billion by 2032. Growing demand for energy-efficient HVAC systems, continuous technological enhancements to introduce variable speed compressor units, and rising construction expenditure across various establishments are among the key parameters adding to the industry landscape.
Asia Pacific air source heat pump compressor industry is projected to cross USD 14 billion by 2032 observing a significant pace on account of the rapid rate of industrialization coupled with mounting investments to boost the production & application potential of compressor units. Moreover, integration of smart technology with heat pump components to operate seamlessly will further shape the industry dynamics.
The region has observed rapid urbanization driving the construction of residential, commercial, and industrial buildings, which in turn is increasing the demand for HVAC systems, including heat pumps. In addition, rising temperatures and changing weather patterns across various countries have propelled the demand for space conditioning systems to maintain comfortable indoor environments stimulating the Asia Pacific heat pump compressor industry.
Air Source Heat Pump Compressors Market Share
The air source heat pump compressors industry has observed the continuous initiatives by various scale local, regional, and global participants. The companies are competing based on a wide range of factors including product quality, reliability, energy efficiency, innovation, and customer service. In addition, market dynamics and technological advancements along with the diversification in the product portfolios continue to shape the industry competition.
Air Source Heat Pump Compressors Market Companies
Some of the leading air source heat pump compressors industry players are:
Air Source Heat Pump Compressors Industry News
This air source heat pump compressors market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2019 to 2032, for the following segments:
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Market, By Type
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
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2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
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✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
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Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
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Verified data sources
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Industry databases
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Regulatory filings
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Academic research
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GMI archive
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Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →