Heat Pump Compressors Market Analysis

Heat Pump Compressors Market Analysis

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Air source heat pump compressors industry share is anticipated to witness 13% growth during 2023-2032. Increasing customer inclination towards sustainable cooling and heating systems is creating a favorable environment for segment growth. As per the IEA, in 2021, air-source heat pumps made up a majority of sales globally, with over 60% market share. Moreover, changing living standards of people together with growing demand for compact cooling and heating technologies will foster the market growth.
 

The scroll heat pump compressors market crossed a valuation of USD 5 billion in 2022. These compressors demonstrate optimized operational characteristics including high efficiency, seamless operation, and others that favor their usage in a wide range of applications. Given their high efficiency and reliability, these systems have also gained popularity across large-capacity chillers and heat pumps. Several compressor manufacturers are also investing heavily in research to promote the development of advanced scroll compressors.
 

Asia Pacific heat pump compressors industry size is estimated to amass USD 14.5 billion by 2032. Growing government spending on energy-efficient systems has increased the demand for heat pump compressors in the region. As per IEA, as part of the third supplementary budget to the country’s 2021 budget, the government of Japan awarded over USD 348 million to promote the adoption of high-efficiency heat pumps. Europe heat pump industry is likely to cross USD 78 billion by 2032.