Lucintel Forecasts Global Heat Pump Market to Reach $105.1 billion by 2030

According to a market report by Lucintel, the future of the global heat pump market looks promising with opportunities in the residential, commercial, and industrial markets. The global heat pump market is expected to reach an estimated $105.1 billion by 2030 with a CAGR of 9.5% from 2024 to 2030.

The major drivers for this market are growing demand for automation technology, increasing government laws and subsidies to enhance energy efficiency, and rising adoption in the residential sector.

A more than 150–page report is developed to understand trends, opportunity and forecast in heat pump to 2030 by type (air-to-air heat pump, air-to-water heat pump, water source heat pump, ground source (geothermal) heat pump, and hybrid heat pump), capacity (up to 10 kW, 10 – 20 kW, 20 – 30 kW, and above 30 kW), end use (residential, commercial, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World).

In this market, air-to-air heat pump, air-to-water heat pump, water source heat pump, ground source (geothermal) heat pump, and hybrid heat pump are the major segments of heat pump market by type. Lucintel forecast that water source heat pumpis expected to witness highest growth over the forecast period.

Within this market, residential will remain the largest segment.

APAC is expected to witness highest growth over the forecast period.

Carrier, Daikin Industries, Robert Bosch, Lennox International, Johnson Controls, Midea Group, Hitachi, Ingersoll Rand, Rheem Manufacturing, and Haier (General Electric) are the major suppliers in the heat pump market. 

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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