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Water Source Heat Pump Market Size
- Report ID: GMI2541
- Published Date: Jun 2022
- Report Format: PDF
Water Source Heat Pump Market Size
Water Source Heat Pump Market size surpassed USD 900 million in 2021 and is anticipated to grow at a CAGR around 5% from 2022 to 2030. Increasing demand for zero carbon emission & positive energy buildings in the construction industry to promote environmental awareness is one of the major factors impacting product adoption. A 25% reduction in operating & lifetime energy cost as compared to conventional HVAC equipment will further propel technology penetration. The global market for heat pump is expected to cross USD 165 billion by 2032.
Rising concerns regarding environmental sustainability & energy security coupled with the shifting trends for bio-based infrastructure will sway the water source heat pump industry growth. In addition, a strong inclination toward the requirement of carbon free equipment along with favorable government policies with an aim to reduce fossil fuel consumption will positively boost the business scenario.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Water Source Heat Pump Market Size in 2021: | 907.5 Million (USD) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 5% |
| 2030 Value Projection: | 1,444.8 Million (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 295 |
| Tables, Charts & Figures: | 718 |
| Segments covered: | Product, Technology, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Water Source Heat Pump Market Scope
