Air Source Heat Pump Market to Witness Growth Acceleration During 2022-2028 [news]
Stratview Research has published a new report titled “Air Source Heat Pump Market” which is segmented by Product Type (Air-to-Air, Air-to-Water), by Application Type (Residential, Commercial, and Industrial), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World).
As per the study, the market was estimated to grow from USD 48.89 billion in 2021 to USD 73.07 billion by 2028 at a healthy CAGR of 5.81% during the forecast period of 2022-2028.
An air source heat pump is a system that helps to transfer heat from outside to inside of any building or vice versa.
Air source heat pumps are of different types, such as air-to-air heat pumps and air-to-water heat pumps. They are used in various residential, commercial, and industrial applications.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Product Trends
The market is segmented as air-to-air and air-to-water.
The Air-to-Air Segment is expected to govern the market during the forecast period, as it can either be used as an effective way of complementing the existing conventional heating and cooling system or as a stand-alone system, making its adoption suitable. It is preferred over ground source heat pump units, owing to zero expenses for groundwork and cost-effectiveness.
Application Trends
The market is segmented as residential, commercial, and industrial.
The Residential Segment dominates the market during the forecast period and is driven by the rising awareness toward the reduction of energy bills along with the shifting trends to improve living standards, increasing adoption of innovative technologies, rising demand for high-level comfort, and efforts to improve air quality.
Which Region is expected to remain the largest market?
North America is estimated to be the dominant market during the forecast period, owing to the growing concerns to effectively hold the reins of carbon footprint blended with the introduction of government initiatives to encourage the adoption of heat pump units.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players acting in the Air Source Heat Pump Market:
• Carrier Corporation
• Thermea Group
• Daikin
• Bosch Thermotechnology, A. O
• Smith Corporation
• Mitsubishi Electric Corporation
• Toshiba
• Panasonic Corporation
• LG Electronics
• China Yangzi Group
Key questions answered by the report:
• What is the projected CAGR for the Air Source Heat Pump Market revenue during the forecast period?
• What would the market be valued at by 2028?
• What is a major driving factor for the growth of the market?
• Which region accounted for the largest revenue share in the Air Source Heat Pump Market?
• Which are the major market players?
Custom Research:
Stratview Research delivers custom research services across sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com. Or connect with our experts at +1-313-307-4176.
About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
As per the study, the market was estimated to grow from USD 48.89 billion in 2021 to USD 73.07 billion by 2028 at a healthy CAGR of 5.81% during the forecast period of 2022-2028.
An air source heat pump is a system that helps to transfer heat from outside to inside of any building or vice versa.
Air source heat pumps are of different types, such as air-to-air heat pumps and air-to-water heat pumps. They are used in various residential, commercial, and industrial applications.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Product Trends
The market is segmented as air-to-air and air-to-water.
The Air-to-Air Segment is expected to govern the market during the forecast period, as it can either be used as an effective way of complementing the existing conventional heating and cooling system or as a stand-alone system, making its adoption suitable. It is preferred over ground source heat pump units, owing to zero expenses for groundwork and cost-effectiveness.
Application Trends
The market is segmented as residential, commercial, and industrial.
The Residential Segment dominates the market during the forecast period and is driven by the rising awareness toward the reduction of energy bills along with the shifting trends to improve living standards, increasing adoption of innovative technologies, rising demand for high-level comfort, and efforts to improve air quality.
Which Region is expected to remain the largest market?
North America is estimated to be the dominant market during the forecast period, owing to the growing concerns to effectively hold the reins of carbon footprint blended with the introduction of government initiatives to encourage the adoption of heat pump units.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players acting in the Air Source Heat Pump Market:
• Carrier Corporation
• Thermea Group
• Daikin
• Bosch Thermotechnology, A. O
• Smith Corporation
• Mitsubishi Electric Corporation
• Toshiba
• Panasonic Corporation
• LG Electronics
• China Yangzi Group
Key questions answered by the report:
• What is the projected CAGR for the Air Source Heat Pump Market revenue during the forecast period?
• What would the market be valued at by 2028?
• What is a major driving factor for the growth of the market?
• Which region accounted for the largest revenue share in the Air Source Heat Pump Market?
• Which are the major market players?
Custom Research:
Stratview Research delivers custom research services across sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com. Or connect with our experts at +1-313-307-4176.
About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
