North America Hydronic Heat Pump Market Size – By Product, Analysis, Share, Growth Forecast, 2025 – 2034

North America Hydronic Heat Pump Market Size

The North America hydronic heat pump market size was valued at USD 2.4 billion in 2024 and is estimated to grow at a CAGR of 14.7% from 202t5 to 2034. Rising demand for efficient heating and cooling systems driven by the rapidly growing construction of building infrastructure, along with increasing population and urbanization have augment the business landscape. The increased energy requirements for water heating and indoor climate control in commercial and residential buildings have accelerated the number of heat pump installations.
 

Increasing adoption of low temperature and ambient heating systems and components along with shifting focus toward advanced technological heating components and systems will complement the business landscape.

North America Hydronic Heat Pump Market Trends

The North America heat pump industry is anticipated to witness significant growth driven by growing demand for hot water and space heating solutions and rising adoption of energy efficient systems. In addition, favorable government measures including tax credits, incentive schemes and energy-efficient upgrades intended to cut costs on energy and carbon footprint will positively influence the business landscape. New manufacturers are emerging along with established brands are catering to consumer requirements for low-energy HVAC systems, which is boosting the business landscape. The significant increase in manufacturing capacity owing to existing and new companies aligned with the change in demand for low energy HVAC systems across the industry.
 

North America Hydronic Heat Pump Market Analysis

The air to water heat pump industry is anticipated to cross over USD 8 billion by 2034, propelled by the rising need for hot water cooling and heating systems in both commercial and residential establishments coupled with the growing emphasis on energy efficient systems. Their noise reduction capacities, efficiency-enhanced electric-powered technology, and integration into smart housing systems further accelerate product adoption. Growing adoption on energy efficient systems in residential and commercial buildings driven by introduction of stringent building efficiency codes, and eco-friendly solutions is contributing to the industry growth.
 

The ground to water hydronic heat pumps market is set to grow owing to the favorable government schemes including incentives, and tax benefits coupled with introduction of stringent existing building energy codes. These systems utilize the heat coming from ground or water which have temperature regulations in place to properly manage the building atmosphere. The increasing focus on sustainability will witness environment friendly alternatives to conventional heating and cooling systems, that are beneficial to the users, further contributing to the industry growth.

The U.S. hydronic heat pump market is set to grow over USD 9 billion by 2034. Increasing GHG emissions, changing consumer preferences for clean energy solutions and stringent environmental mandates have positively influenced the industry growth. Growing adoption of energy-efficient cooling and heating systems driven by implementation of regulations by key authorities, have further augmented the product deployment.
 

North America Hydronic Heat Pump Market Share

Major players operating in the North America hydronic heat pump industry are focusing to introduce innovative technologies, research and development initiatives, and strong brand recognition. Bosch, Carrier, Daikin, LG Electronics, Samsung, Panasonic, and Carrier accounted for majority of the market share in the North America hydronic heat pump industry. These players focus on making strategic alliances, collaborations, partnerships, and acquire other firms to strengthen their market position.
 

North America Hydronic Heat Pump Market Companies

Major players operating in the industry are:

• Arctic Heat Pumps
• Bosch
• Bard HVAC
• Carrier
• Chiltrix
• Daikin
• Fujitsu General
• Johnson Controls
• LG Electronics
• Mestek
• Nordic Heat Pumps
• Panasonic Corporation
• SAMSUNG
• SpacePak
• Trane
• WaterFurnace
   

North America Hydronic Heat Pump Industry News

• In March 2024, U.S. Boiler has launched a new hydronic heat pump unit for household applications. This system will allow homeowners to control climate and manage it as efficiently as possible. The system contains difluoromethane (R32) which is an eco-friendly refrigerant, it also has advanced DC inverter enhanced vapor injection technology built in with the system that will help to decrease the carbon footprint. The introduction to the hydronic HP system is enhanced with a COP value of 3.95 which will be coupled with a 5-ton capacity. The system will assist homeowners to incorporate the heating solution that optimizes efficiency and sustainability to further enhance in the residential climate control.
   
• In January 2024, LG unveiled its strategy to enhance its cutting-edge heat pump assisted HVAC water product range at the AHR Expo 2024 by showcasing of the LG R32 Air-to-Water Heat Pump Monobloc system. This solution streamlines installation, as it dispenses with the use of refrigerant piping and replaces it with water pipes for both residential and commercial use, thereby simplifying installation by merging indoor and hydronic components.
   

This North America hydronic heat pump market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” & “000 Units” from 2021 to 2034 for the following segments:

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Market, By Product

• Air to water
• Ground to water

The above information has been provided for the following countries:

• U.S.
• Canada