Global Air Source Heat Pumps Market to Reach USD 72.71 Billion by 2030, Driven by Demand for Energy-Efficient Solutions

Global Air Source Heat Pumps Market to Reach USD 72.71 Billion by 2030, Driven by Demand for Sustainable Heating Solutions

Summary:

The global Air Source Heat Pumps (ASHP) market, valued at USD 45.88 billion in 2023, is projected to grow at a CAGR of 6.8% from 2024 to 2030. This growth is largely fueled by the increasing focus on energy efficiency, supportive government regulations, and the growing adoption of sustainable heating and cooling solutions across residential and commercial sectors.

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Market Size:

In 2023, the global ASHP market was valued at USD 45.88 billion. By 2030, the market is expected to hit approximately USD 72.71 billion, growing at a steady CAGR of 6.8%. Factors such as climate concerns, rising energy costs, and technological advancements are driving this expansion.

Scope and Research Methodology:

The report offers an extensive analysis of the global ASHP market across multiple dimensions, including product types, applications, end-use sectors, and geographic regions. The research employs a mixed methodology, combining primary research through expert interviews with extensive secondary data from reputable industry sources. Market trends, historical data, and future projections are all critically evaluated to ensure a well-rounded view of the industry landscape.

Report Coverage:

• Global market size and forecast from 2024 to 2030

• Growth drivers, restraints, challenges, and opportunities

• Competitive landscape with profiles of key players

• Market segmentation by type, application, and region

• Strategic developments and recent innovations in the industry

Overview:

Air source heat pumps provide efficient, cost-effective alternatives to traditional heating systems. By extracting heat from the outside air, these systems can be used for both heating and cooling purposes. With the rise of carbon neutrality targets and increasing energy awareness, governments and consumers alike are turning to ASHPs as part of their sustainability agendas.

Dynamics:

Key Growth Drivers:

• Rising demand for eco-friendly and energy-efficient heating systems

• Government subsidies and tax incentives promoting renewable technologies

• Increasing construction of green buildings and smart homes

Challenges:

• High initial investment costs

• Efficiency issues in extremely cold climates

• Lack of consumer awareness in certain developing regions

Segmentation:

By Product Type:

• Air-to-Air

• Air-to-Water

By Type:

• Ductless

• Ducted

• Short Run Ducted

By Application:

• Heating

• Cooling

• Both Heating and Cooling

By End-Use Sector:

• Residential

• Commercial

• Others

By Region:

• North America

• Europe

• Asia-Pacific

• Middle East & Africa

• Latin America

Key Players Include:

1. BDR Thermea Group B.V.

2. Bosch Thermotechnik GmbH

3. Carrier Corporation

4. China Yangzi Group

5. Daikin Industries Ltd.

6. Danfoss A/S

7. Dimplex North America Ltd.

8. Emerson Climate Technologies Inc.

9. Fujitsu General Ltd.

10. Haier Group

11. Hitachi Appliances, Inc.

12. Ingersoll-Rand PLC

13. LG Electronics, Inc.

14. Mitsubishi Electric Corporation

15. Panasonic Corporation

16. Samsung Electronics Co., Ltd.

17. Swegon

18. Thermia Heat Pumps

19. Toshiba Corporation

20. Viessmann Werke GmbH & Co. KG

21. United Technologies Corporation

22. Johnson Controls International PLC

23. Lennox International Inc.

24. NIBE Industrier AB

25. Vaillant Group

26. Rheem Manufacturing Company

27. A.O. Smith Corporation

Reasons to Buy:

• Understand the current state and future potential of the ASHP market

• Identify growth segments and high-opportunity regions

• Analyze competitive positioning and strategies of top market players

• Leverage insights to inform strategic planning and market entry

• Stay updated with regulatory and technological developments impacting the market

Table of Contents:

1. Executive Summary

2. Introduction and Market Definition

3. Research Methodology

4. Market Dynamics

5. Market Segmentation

6. Regional Market Analysis

7. Competitive Landscape

8. Company Profiles

9. Conclusion and Strategic Recommendations

For further details, feel free to reach out to us at any time: https://www.maximizemarketresearch.com/market-report/global-air-source-heat-pumps-market/83149/ 

About Us:

Maximize Market Research is a trusted market research and business consultancy serving global clients across various sectors, including IT, chemicals, healthcare, automotive, and energy. We are known for delivering detailed and reliable reports that help businesses make data-driven decisions and gain a competitive advantage in their respective markets.

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