Residential Air to Air Heat Pump Market Trends

Residential Air to Air Heat Pump Market Trends

The residential air to air heat pump industry is anticipated to grow owing to shifting consumer preference for clean energy technologies along with continuous technological advancements in heating & cooling systems. The increasing need for more efficient and effective space heating & cooling solutions metropolitan areas, together with the rise of clean energy building projects, is set to propel the product demand. Collaborative initiatives between private entities and governments to deliver efficient heating units in cold climatic regions will further accelerate product penetration. The expanding residential projects including multi story buildings and single family houses coupled with ongoing urbanization in developing nations, will positively influence market dynamics.
 

The introduction of beneficial rebates and incentive schemes from the respective authorities and several governments will further augment the product deployment. For instance, Post-January 2023, the UK government offers grants exceeding USD 5,800 for air-source heat pumps in both new buildings and retrofits, stimulating the market for Europe Ducted Heat Pumps. Additionally, Austria provides grants for air-source heat pumps in new buildings, covering up to 20% of their price, and up to 35% for retrofits, with a maximum of USD 5,000. The subsidy period is from Jan. 3, 2023, to Dec. 31, 2024.