Home > Industrial Machinery > HVAC > Heat Pumps > Heat Pump Market
Heat Pump Market Size
- Report ID: GMI1426
- Published Date: May 2023
- Report Format: PDF
Heat Pump Market Size
Heat Pump Market size surpassed USD 57.9 billion in 2023 and is anticipated to grow at 12.9% CAGR from 2024 to 2032. Rapidly rising greenhouse gas (GHG) emissions leading to adverse environmental impacts coupled with the introduction of new measures to support clean energy alternatives will augment the product deployment by 2032. In addition, high energy efficiency, low carbon footprint, availability of financial incentive schemes, and quiet operations are some of the key factors bolstering the industry landscape.
The growing need for energy efficient space & water heating technologies along with continuous research & development initiatives by public and private players will augment the market outlook. Moreover, introduction of favorable regulatory framework and the promptly increasing new & retrofitting construction activities with energy efficient alternatives will boost the industry landscape. The global market for industrial heat pump is poised to surpass USD 2.2 billion by 2032.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Heat Pump Market Size in 2023: | USD 57.9 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 12.9% |
| 2032 Value Projection: | USD 173 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 620 |
| Tables, Charts & Figures: | 973 |
| Segments covered: | Product, Application and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Heat Pump Market Scope
