Global Heat Pump Market size to exceed $60bn by 2025

Heat Pump Market is anticipated to exceed USD 60 Billion by 2025, as reported in the latest study by Global Market Insights, Inc.

Global Heat pump market is set to witness robust growth on account of growing demand for cost effective, reliable and energy efficient heating technology. Escalating requirement of reducing the power consumption across industrial, residential and commercial sectors along with increasing awareness toward energy management will positively influence the product demand. Furthermore, intensifying support in terms of subsidies & monetary incentives including zero interest rate loans, tax rebate and renewable heat incentives will augment the industry landscape.


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Heat pump industry is set to witness gains on account of growing focus toward the deployment of energy conservation systems. Increasing concerns pertaining to environmental degradation on account of rising air pollution levels will augment the business growth. Regulatory focus toward the implementation of stringent emission norms will further stimulate business growth. Moreover, the rising electricity prices have resulted in increased adoption of cost-effective HVAC systems which will drive the product installation.

U.S. Heat Pump Market Size, By Product, 2018 & 2025 (USD Million)
Heat Pump Market

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Growing demand for efficient cooling & heating solutions coupled with increasing investments toward the development of new facilities will drive the air source heat pump market growth. Minimal space requirements & cost effectiveness are some of the key underlying factors favoring product installation over other available counterparts. In addition, ongoing technological innovations to enhance the product design to improve efficiency will further proliferate the business landscape.

Browse key industry insights spread across 390 pages with 574 market data tables & 50 figures & charts from the report, “Heat Pump Market Size By Product (Air Source, Ground Source, Water Source), By Application {Residential (Single-family, Multi-family), Commercial (Educational Institutes, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality and Others), Industrial}, Industry Analysis Report, Regional Outlook (U.S., Canada, Sweden, Germany, Norway, Demark, Italy, Spain, UK France, Finland, Austria, Netherlands, Switzerland, China, South Korea, Japan, Australia, Iran, Turkey, South Africa, Saudi Arabia), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019–2025” in detail along with the table of contents:

Heat pump industry from residential sector application is anticipated to witness gains on account of increasing consumer focus toward reduced electricity prices. Growing purchasing power along with improving standards of living will effectively boost product adoption over the forecast period. Increasing investments toward the refurbishment of residential infrastructure will further enhance business landscape. In addition, ability of these units to be integrated with legacy systems will drive the residential installation over the coming years.

Heat pump industry across the Europe will witness growth owing to supportive policy framework from respective governments coupled with strong adoption of multiple energy conservation techniques and systems across the industrial sector. Steady demand for space heating across residential sector due to harsh climatic conditions will further enhance product deployment. In addition, growing focus to unburden the dependency of fossil fuels coupled with increasing fossil fuel taxes will complement the industry growth.

Heat pump market from commercial applications is set to grow over 3% by 2025. Increasing adoption of sustainable technologies along with implementation of stern building standards & norms pertaining to energy efficiency will enhance the industry outlook. In addition, shifting trends toward the adoption of smart HVAC systems to optimize power consumption will proliferate the business growth over the forecast timeline.

Notable market participants functioning across heat pump market include Green Planet Supply Technologies, Viessmann, OCHSNER Warmepumpen, Stiebel Eltron, Finn Geotherm, Vaillant, Mitsubishi Electric, Bosch Thermotechnology, Wolf, Thermic Energy, Earthlinked Technologies, Daikin, Trane, Solarbayer, NIBE, Kensa Heat Pumps, Weishaupt, Glen Dimplex, Danfoss and Bard HVAC amongst others.

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Heat Pump market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2014 to 2025, for the following segments:

By Product

  • Air Source
  • Ground Source
  • Water Source

By Application

  • Residential
    • Single Family
    • Multi Family
  • Commercial
    • Educational Institutes
    • Healthcare
    • Retail
    • Logistics and transportation
    • Offices
    • Hospitality
    • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Austria
    • Norway
    • Denmark
    • Finland
    • France
    • Germany
    • Italy
    • Switzerland
    • Spain
    • Sweden
    • UK
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • Australia
    • South Korea
  • Rest of World
    • Iran
    • Saudi Arabia
    • Turkey
    • South Africa


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