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Heat Pump Market by Type (Air-to-Air, Air-to-Water, Water Source, Geothermal, Hybrid) Refrigerant (R410A, R407C, R744) Rated Capacity (Up to 10 kW, 10-20 kW, 20-30 kW, >30 kW) End-user (Residential, Commercial, Industrial), and Region - Forecast to 2026

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    Report

  • 191 Pages
  • February 2022
  • Region: Global
  • Markets and Markets
  • ID: 4590694
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Increasing Integration of IoT and Other Advanced Technologies with Heat Pumps Promise Growth Opportunities

The global heat pump market is projected to reach USD 83.5 billion by 2026 from an estimated market size of USD 53.2 billion in 2021, at a CAGR of 9.5% during the forecast period. The factors driving the growth for heat pump market are the supportive government laws and subsidies to enhance energy efficiency.



Air-to-Air heat pump segment dominates the global market


The air-to-air heat pump segment is estimated to have the largest market share and is expected to grow at the with a CAGR of 9.5% during the forecast period. The air-to-air heat pump type is estimated to have the largest market share and is expected to grow at the highest rate during the forecast period. The higher growth rate of this segment is due to emit the lowest amount of CO2 compared to other heat pump types.

Residential segment to lead the global heat pumps market


The residential end user segment holds the largest share in the heat pumps market, followed by commercial. The government initiatives to enhance energy efficiency in the residential sector is expected to drive the residential segment during the forecast period.

Asia Pacific dominates the global heat pumps market in terms of annual growth rate


The Asia Pacific region is estimated to be the largest market for the heat pump market, followed by North America. The North America region is projected to be the fastest-growing market during the forecast period. The growth of the North American heat pump market is expected to be driven by government-led initiatives to reduce air pollution caused by the conventional sources of energy used for heating in the residential, commercial, and industrial sectors.


Research Coverage


The report defines, describes, and forecasts the heat pumps market, by service, application, well type, stages and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the heat pumps market.

The heat pumps market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global heat pumps market include SAMSUNG (South Korea), DENSO Corporation (Japan), Midea Group (China), Panasonic Corporation (Japan), and Mitsubishi Electric Corporation (Japan).


Breakdown of Primaries


In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.


The distribution of primary interviews is as follows:

  • By Company Type: Tier I - 65%, Tier II - 24%, and Tier III - 11%
  • By Designation: C-Level - 30%, Director-Level - 25%, and Others - 45%
  • By Region: Middle East & Africa - 7%, Asia-Pacific - 34%, North America - 27%, South & Central America - 12%, Europe - 20%

Note: Others includes sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017; Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3: <USD 500 million.


Key Benefits of Buying the Report

  • The report identifies and addresses the key markets for heat pumps, which would help heat pumps providers review the growth in demand.
  • The report helps service providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
  • The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.

Table of Contents

1 Introduction
1.1 Objectives of Study
1.2 Definition
1.2.1 Heat Pump Market, by Type: Inclusions and Exclusions
1.2.2 Market, by Rated Capacity: Inclusions and Exclusions
1.2.3 Market, by End-user: Inclusions and Exclusions
1.3 Market Scope
1.3.1 Markets Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders
1.7 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 1 Heat Pump Market: Research Design
2.2 Market Breakdown and Data Triangulation
Figure 2 Data Triangulation Methodology
2.2.1 Secondary Data
2.2.1.1 Key Data from Secondary Sources
2.2.2 Primary Data
2.2.2.1 Key Data from Primary Sources
2.2.2.2 Breakdown of Primaries
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
2.3.2 Top-Down Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
2.4 Demand Side Metrics
Figure 5 Main Metrics Considered for Analyzing Demand for Heat Pumps
2.4.1 Metrics Considered to Analyze Demand for Heat Pumps Include:
Table 1 Year-On-Year Sales of Heat Pumps Across Countries is Key Determining Factor for Market Size Estimation
2.4.2 Assumptions for Demand Side Analysis
2.4.3 Demand Side Analysis Calculation
2.5 Supply Side Analysis
Figure 6 Key Metrics Considered for Assessing Supply of Heat Pumps
Figure 7 Heat Pump Market: Supply Side Analysis
2.5.1 Calculations for Supply Side
2.5.2 Assumptions for Supply Side
Figure 8 Company Revenue Analysis, 2020
2.6 Forecast
3 Executive Summary
Table 2 Heat Pump Market Snapshot
Figure 9 Air-To-Air Heat Pump Segment to Dominate Market, by Type, During Forecast Period
Figure 10 Up to 10 kW Segment to Dominate Market, by Rated Capacity, During Forecast Period
Figure 11 R410A to Hold Largest Share of Market, by Refrigerant Type, During Forecast Period
Figure 12 Residential to Hold Largest Share of Market, by End-user, During Forecast Period
Figure 13 Asia-Pacific Dominated Market in 2020
4 Premium Insights
4.1 Attractive Opportunities in Heat Pump Market
Figure 14 Government Initiatives to Increase Installation of Heat Pumps to Drive Growth of Market from 2021 to 2026
4.2 Market, by Region
Figure 15 North America to Witness Highest Growth in Global Market During Forecast Period
4.3 Market, by Type
Figure 16 Air-To-Air Heat Pump Segment Dominated Market in 2020
4.4 Market, by End-user
Figure 17 Residential Segment Dominated Market in 2020
4.5 Market, by Rated Capacity
Figure 18 Up to 10 kW Segment Dominated Heat Pump Market in 2020
4.6 Market, by Refrigerant Type
Figure 19 R410A Segment Dominated Heat Pump Market in 2020
4.7 Market in Asia-Pacific, by End-user and Country
Figure 20 Residential Segment and China Dominated Asia-Pacific Market in 2020
5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
Figure 21 COVID-19 Global Propagation
Figure 22 COVID-19 Propagation in Selected Countries
5.3 COVID-19 Economic Assessment
Figure 23 Comparison of GDP for Selected G20 Countries in 2020
5.4 Market Dynamics
Figure 24 Heat Pump Market: Drivers, Restraints, Opportunities, and Challenges
5.4.1 Drivers
5.4.1.1 Contribution of Heat Pump Technology to Reduce Carbon Footprint
5.4.1.2 Government Laws and Subsidies to Enhance Energy Efficiency
5.4.2 Restraints
5.4.2.1 Less Awareness Regarding Advantages Associated with Heat Pumps in Emerging Economies
5.4.3 Opportunities
5.4.3.1 Increasing Integration of Internet of Things (IoT) and Other Advanced Technologies with Heat Pumps
5.4.3.2 Positive Outlook Toward Use of Geothermal Energy
5.4.4 Challenges
5.4.4.1 High Initial Installation Costs
5.4.4.2 Impact of COVID-19 on Heat Pump Market
5.5 A2L Refrigerant
5.6 Heat Pump Replacing Conventional Heating Methods
5.7 Supply Chain Analysis
Figure 25 Heat Pump Market: Supply Chain Analysis
Table 3 Market: Supply Chain
5.7.1 Raw Material Suppliers
5.7.2 Original Equipment Manufacturers (OEMs)
5.7.3 Distributors
5.7.4 End-users
5.8 Innovations & Patent Registration
5.9 Technology Analysis
5.10 Market: Regulations
5.11 Porter's Five Forces Analysis
Figure 26 Heat Pump Market: Porter's Five Forces Analysis
Table 4 Market: Porter's Five Forces Analysis
5.11.1 Threat of New Entrants
5.11.2 Bargaining Power of Suppliers
5.11.3 Bargaining Power of Buyers
5.11.4 Threat of Substitutes
5.11.5 Degree of Competition
5.12 Pricing Analysis
Table 5 Average Unit Cost of Heat Pump, by Type
5.13 Case Study Analysis
5.13.1 High Temperature Heat Pump for 17th Century Cottage at Cornwall
5.14 Trends/Disruptions Impacting Customers’ Businesses
5.14.1 Revenue Shift and New Revenue Pockets in Heat Pump Market
Figure 27 Revenue Shift of Heat Pump Providers
5.15 Market Map
Figure 28 Heat Pump: Market Map
5.16 Trade Analysis
5.16.1 Export Scenario
Table 6 Export Scenario for HS Code: 8418, by Country, 2016-2020 (USD Thousand)
5.16.2 Import Scenario
Table 7 Import Scenario for HS Code: 8418, by Country, 2016-2020 (USD Thousand)
6 Heat Pump Market, by Type
6.1 Introduction
Figure 29 Heat Pump Market, by Type, 2020
Table 8 Market, by Type, 2019-2026 (USD Million)
6.2 Air-To-Air Heat Pump
6.2.1 Low Installation Cost Associated with Air-To-Air Heat Pumps is Fueling Their Demand
Table 9 Market for Air-To-Air Heat Pump, by Region, 2019-2026 (USD Million)
6.3 Air-To-Water Heat Pump
6.3.1 Low Emission of Co2 to be Major Factor Fueling Demand for Air-To-Water Heat Pumps
Table 10 Market for Air-To-Water Pump, by Region, 2019-2026 (USD Million)
6.4 Water Source Heat Pump
6.4.1 High Coefficient of Performance (COP) of Water Source Heat Pumps to Boost Market Growth
Table 11 Market for Water Source Heat Pump, by Region, 2019-2026 (USD Million)
6.5 Ground Source (Geothermal) Heat Pump
6.5.1 High Efficiency Associated with Geothermal Pumps is Driving Their Demand Globally
Table 12 Market for Ground Source (Geothermal) Heat Pump, by Region, 2019-2026 (USD Million)
6.6 Hybrid Heat Pump
6.6.1 Growing Inclination Toward Use of Renewable Energy Sources for Heating to Drive Growth of Hybrid Market
Table 13 Market for Hybrid Heat Pump, by Region, 2019-2026 (USD Million)
7 Heat Pump Market, by Refrigerant Type
7.1 Introduction
Figure 30 Market, by Refrigerant Type, 2020
Table 14 Market, by Refrigerant Type, 2019-2026 (USD Million)
7.2 R410A
7.2.1 R410A Does Not Lead to Ozone Depletion
Table 15 Market for R410A, by Region, 2019-2026 (USD Million)
7.3 R407C
7.3.1 R407C is Environmentally Friendly Refrigerant
Table 16 Market for R407C, by Region, 2019-2026 (USD Million)
7.4 R744
7.4.1 High Volumetric Cooling Capacity of R744 is Fueling Its Demand Globally
Table 17 Market for R744, by Region, 2019-2026 (USD Million)
7.5 Others
Table 18 Market for Others, by Region, 2019-2026 (USD Million)
8 Heat Pump Market, by Rated Capacity
8.1 Introduction
Figure 31 Market, by Rated Capacity, 2020
Table 19 Market, by Rated Capacity, 2019-2026 (USD Million)
8.2 Up to 10 kW
8.2.1 Suitability for Single-Family Houses to Drive Growth of Market for Up to 10 kW Rated Capacity
Table 20 Market for Up to 10 kW, by Region, 2019-2026 (USD Million)
8.3 10-20 kW
8.3.1 Growing Demand for Heat Pumps with Rated Capacities from 10-20 kW in Residential Sector to Drive Market Growth
Table 21 Market for 10-20 kW, by Region, 2019-2026 (USD Million)
8.4 20-30 kW
8.4.1 Ability of Heat Pumps with 20-30 kW Rated Capacities to Meet Heating Demand in Commercial Sector to Drive Market Growth
Table 22 Market for 20-30 kW, by Region, 2019-2026 (USD Million)
8.5 Above 30 kW
8.5.1 Growing Adoption of Heat Pumps with Above 30 kW Rated Capacities in Industrial and Commercial Sectors to Drive Market Growth
Table 23 Market for Above 30 kW, by Region, 2019-2026 (USD Million)
9 Heat Pump Market, by End-user
9.1 Introduction
Figure 32 Market, by End-user, 2020
Table 24 Market, by End-user, 2019-2026 (USD Million)
9.2 Residential
9.2.1 Increasing Government Initiatives to Enhance Energy Efficiency to Fuel Demand for Heat Pumps
Table 25 Market for Residential, by Region, 2019-2026 (USD Million)
9.3 Commercial
9.3.1 High Temperature Heating Requirement in Commercial Sector to Boost Demand for Heat Pumps
Table 26 Market for Commercial, by Region, 2019-2026 (USD Million)
9.4 Industrial
9.4.1 Increasing Demand for Heat Pumps in Industrial Sector due to Their Energy Efficiency Feature to Drive Market Growth
Table 27 Market for Industrial, by Region, 2019-2026 (USD Million)
10 Heat Pump Market, by Region
10.1 Introduction
Figure 33 Regional Snapshot: North America Market to Grow at Highest CAGR During Forecast Period
Figure 34 Heat Pump Market Share, by Region, 2020
Table 28 Market Volume, by Region, 2019-2026 (Million Units)
Table 29 Market Size, by Region, 2019-2026 (USD Million)
10.2 Asia-Pacific
Figure 35 Asia-Pacific: Regional Snapshot
10.2.1 By Type
Table 30 Market in Asia-Pacific, by Type, 2019-2026 (USD Million)
10.2.2 By Refrigerant Type
Table 31 Market in Asia-Pacific, by Refrigerant Type, 2019-2026 (USD Million)
10.2.3 By Rated Capacity
Table 32 Market in Asia-Pacific, by Rated Capacity, 2019-2026 (USD Million)
Table 33 Market for Up to 10 kW in Asia-Pacific, by Country, 2019-2026 (USD Million)
Table 34 Market for 10 - 20 kW in Asia-Pacific, by Country, 2019-2026 (USD Million)
Table 35 Market for 20 - 30 kW in Asia-Pacific, by Country, 2019-2026 (USD Million)
Table 36 Market for Above 30 kW in Asia-Pacific, by Country, 2019-2026 (USD Million)
10.2.4 By End-user
Table 37 Market in Asia-Pacific, by End-user, 2019-2026 (USD Million)
Table 38 Market for Residential in Asia-Pacific, by Country, 2019-2026 (USD Million)
Table 39 Market for Commercial in Asia-Pacific, by Country, 2019-2026 (USD Million)
Table 40 Market for Industrial in Asia-Pacific, by Country, 2019-2026 (USD Million)
10.2.5 By Country
Table 41 Market in Asia-Pacific, by Country, 2019-2026 (USD Million))
10.2.5.1 China
10.2.5.1.1 Growing Urban Population and Initiatives to Minimize Pollution to Fuel Demand for Heat Pumps in China
Table 42 Market in China, by Rated Capacity, 2019-2026 (USD Million)
Table 43 Market in China, by End-user, 2019-2026 (USD Million)
10.2.5.2 India
10.2.5.2.1 Government Initiatives for Increasing Use of Renewables to Drive Market Growth in India
Table 44 Market in India, by Rated Capacity, 2019-2026 (USD Million)
Table 45 Market in India, by End-user, 2019-2026 (USD Million)
10.2.5.3 Japan
10.2.5.3.1 Energy Conservation Initiatives by Government and Technological Advancements to Drive Market Growth in Japan
Table 46 Heat Pump Market in Japan, by Rated Capacity, 2019-2026 (USD Million)
Table 47 Market in Japan, by End-user, 2019-2026 (USD Million)
10.2.5.4 South Korea
10.2.5.4.1 Growing Demand for Energy-Efficient Heating Technology to Drive Market Growth
Table 48 Market in South Korea, by Rated Capacity, 2019-2026 (USD Million)
Table 49 Market in South Korea, by End-user, 2019-2026 (USD Million)
10.2.5.5 Australia
10.2.5.5.1 Favorable Environmental Conditions and Expanding Renewable Sector are Expected to Drive Market Growth
Table 50 Market in Australia, by Rated Capacity, 2019-2026 (USD Million)
Table 51 Market in Australia, by End-user, 2019-2026 (USD Million)
10.2.5.6 Rest of Asia-Pacific
Table 52 Market in Rest of Asia-Pacific, by Rated Capacity, 2019-2026 (USD Million)
Table 53 Market in Rest of Asia-Pacific, by End-user, 2019-2026 (USD Million)
10.3 North America
Figure 36 North America: Regional Snapshot
10.3.1 By Type
Table 54 Market in North America, by Type, 2019-2026 (USD Million)
10.3.2 By Refrigerant Type
Table 55 Market in North America, by Refrigerant Type, 2019-2026 (USD Million)
10.3.3 By Rated Capacity
Table 56 Market in North America, by Rated Capacity, 2019-2026 (USD Million)
Table 57 Market for Up to 10 kW in North America, by Country, 2019-2026 (USD Million)
Table 58 Market for 10 - 20 kW in North America, by Country, 2019-2026 (USD Million)
Table 59 Market for 20 - 30 kW in North America, by Country, 2019-2026 (USD Million)
Table 60 Market for Above 30 kW in North America, by Country, 2019-2026 (USD Million)
10.3.4 By End-user
Table 61 Market in North America, by End-user, 2019-2026 (USD Million)
Table 62 Market for Residential in North America, by Country, 2019-2026 (USD Million)
Table 63 Market for Commercial in North America, by Country, 2019-2026 (USD Million)
Table 64 Market for Industrial in North America, by Country, 2019-2026 (USD Million)
10.3.5 By Country
Table 65 Market in North America, by Country, 2019-2026 (USD Million)
10.3.5.1 US
10.3.5.1.1 Increasing Demand for Energy-Efficient Water Heating Systems in Residential and Commercial Sectors to Drive US Market Growth
Table 66 Market in US, by Rated Capacity, 2019-2026 (USD Million)
Table 67 Market in US, by End-user, 2019-2026 (USD Million)
10.3.5.2 Canada
10.3.5.2.1 Government Regulations and Policies to Reduce Pollution to Fuel Demand for Heat Pumps in Canada
Table 68 Market in Canada, by Rated Capacity, 2019-2026 (USD Million)
Table 69 Market in Canada, by End-user, 2019-2026 (USD Million)
10.4 Europe
10.4.1 By Type
Table 70 Market in Europe, by Type, 2019-2026 (USD Million)
10.4.2 By Refrigerant Type
Table 71 Market in Europe, by Refrigerant Type, 2019-2026 (USD Million)
10.4.3 By Rated Capacity
Table 72 Market in Europe, by Rated Capacity, 2019-2026 (USD Million)
Table 73 Market for Up to 10 kW in Europe, by Country, 2019-2026 (USD Million)
Table 74 Market for 10 - 20 kW in Europe, by Country, 2019-2026 (USD Million)
Table 75 Market for 20 - 30 kW in Europe, by Country, 2019-2026 (USD Million)
Table 76 Market for Above 30 kW in Europe, by Country, 2019-2026 (USD Million)
10.4.4 By End-user
Table 77 Market in Europe, by End-user, 2019-2026 (USD Million)
Table 78 Market for Residential in Europe, by Country, 2019-2026 (USD Million)
Table 79 Market for Commercial in Europe, by Country, 2019-2026 (USD Million)
Table 80 Market for Industrial in Europe, by Country, 2019-2026 (USD Million)
10.4.5 By Country
Table 81 Market in Europe, by Country, 2019-2026 (USD Million))
10.4.5.1 France
10.4.5.1.1 Rising Demand for Energy-Efficient Heating Systems to Boost Growth of French Heat Pump Market
Table 82 Market in France, by Rated Capacity, 2019-2026 (USD Million)
Table 83 Market in France, by End-user, 2019-2026 (USD Million)
10.4.5.2 Italy
10.4.5.2.1 Government-Led Schemes to Increase Installation of Heat Pumps to Boost Market Growth in Italy
Table 84 Market in Italy, by Rated Capacity, 2019-2026 (USD Million)
Table 85 Market in Italy, by End-user, 2019-2026 (USD Million)
10.4.5.3 Spain
10.4.5.3.1 Energy Conservation Initiatives by Government and Technological Advancements to Drive Growth of Spain Market
Table 86 Market in Spain, by Rated Capacity, 2019-2026 (USD Million)
Table 87 Market in Spain, by End-user, 2019-2026 (USD Million)
10.4.5.4 UK
10.4.5.4.1 Growth of Residential Sector and Rising Demand for Renewable Heat Generation are Driving Market Growth
Table 88 Market in UK, by Rated Capacity, 2019-2026 (USD Million)
Table 89 Market in UK, by End-user, 2019-2026 (USD Million)
10.4.5.5 Rest of Europe
Table 90 Market in Rest of Europe, by Rated Capacity, 2019-2026 (USD Million)
Table 91 Market in Rest of Europe, by End-user, 2019-2026 (USD Million)
10.5 Middle East & Africa
10.5.1 By Type
Table 92 Market in Middle East & Africa, by Type, 2019-2026 (USD Million)
10.5.2 By Refrigerant Type
Table 93 Market in Middle East & Africa, by Refrigerant Type, 2019-2026 (USD Million)
10.5.3 By Rated Capacity
Table 94 Market in Middle East & Africa, by Rated Capacity, 2019-2026 (USD Million)
Table 95 Market for Up to 10 kW in Middle East & Africa, by Country, 2019-2026 (USD Million)
Table 96 Market for 10 - 20 kW in Middle East & Africa, by Country, 2019-2026 (USD Million)
Table 97 Market for 20 - 30 kW in Middle East & Africa, by Country, 2019-2026 (USD Million)
Table 98 Market for Above 30 kW in Middle East & Africa, by Country, 2019-2026 (USD Million)
10.5.4 By End-user
Table 99 Market in Middle East & Africa, by End-user, 2019-2026 (USD Million)
Table 100 Market for Residential in Middle East & Africa, by Country, 2019-2026 (USD Million)
Table 101 Market for Commercial in Middle East & Africa, by Country, 2019-2026 (USD Million)
Table 102 Market for Industrial in Middle East & Africa, by Country, 2019-2026 (USD Million)
10.5.5 By Country
Table 103 Market in Middle East & Africa, by Country, 2019-2026 (USD Million)
10.5.5.1 Saudi Arabia
10.5.5.1.1 Rising Investments in Industrial Sector to Fuel Growth of Heat Pumps Market in Saudi Arabia
Table 104 Market in Saudi Arabia, by Rated Capacity, 2019-2026 (USD Million)
Table 105 Market in Saudi Arabia, by End-user, 2019-2026 (USD Million)
10.5.5.2 South Africa
10.5.5.2.1 Increasing Investments in Different Projects to Drive Demand for Heat Pumps in South Africa
Table 106 Market in South Africa, by Rated Capacity, 2019-2026 (USD Million)
Table 107 Market in South Africa, by End-user, 2019-2026 (USD Million)
10.5.5.3 Rest of Middle East & Africa
Table 108 Market in Rest of Middle East & Africa, by Rated Capacity, 2019-2026 (USD Million)
Table 109 Market in Rest of Middle East & Africa, by End-user, 2019-2026 (USD Million)
10.6 Latin America
10.6.1 By Type
Table 110 Market in Latin America, by Type, 2019-2026 (USD Million)
10.6.2 By Refrigerant Type
Table 111 Market in Latin America, by Refrigerant Type, 2019-2026 (USD Million)
10.6.3 By Rated Capacity
Table 112 Market in Latin America, by Rated Capacity, 2019-2026 (USD Million)
Table 113 Market for Up to 10 kW in Latin America, by Country, 2019-2026 (USD Million)
Table 114 Market for 10 - 20 kW in Latin America, by Country, 2019-2026 (USD Million)
Table 115 Market for 20 - 30 kW in Latin America, by Country, 2019-2026 (USD Million)
Table 116 Market for Above 30 kW in Latin America, by Country, 2019-2026 (USD Million)
10.6.4 By End-user
Table 117 Market in Latin America, by End-user, 2019-2026 (USD Million)
Table 118 Market for Residential in Latin America, by Country, 2019-2026 (USD Million)
Table 119 Market for Commercial in Latin America, by Country, 2019-2026 (USD Million)
Table 120 Market for Industrial in Latin America, by Country, 2019-2026 (USD Million)
10.6.5 By Country
Table 121 Market in Latin America, by Country, 2019-2026 (USD Million)
10.6.5.1 Mexico
10.6.5.1.1 Energy-Saving Initiatives to Drive Demand for Heat Pumps in Mexico
Table 122 Market in Mexico, by Rated Capacity, 2019-2026 (USD Million)
Table 123 Market in Mexico, by End-user, 2019-2026 (USD Million)
10.6.5.2 Brazil
10.6.5.2.1 Transition Toward Renewable Power Generation to Fuel Growth of Brazilian Market
Table 124 Heat Pump Market in Brazil, by Rated Capacity, 2019-2026 (USD Million)
Table 125 Heat Pump Market in Brazil, by End-user, 2019-2026 (USD Million)
10.6.5.3 Rest of Latin America
Table 126 Heat Pump Market in Rest of Latin America, by Rated Capacity, 2019-2026 (USD Million)
Table 127 Heat Pump Market in Rest of Latin America, by End-user, 2019-2026 (USD Million)
11 Competitive Landscape
11.1 Overview
Figure 37 Key Developments in Heat Pump Market, 2017-2021
11.2 Share Analysis of Key Players, 2020
Table 128 Heat Pump Market: Degree of Competition
Figure 38 Share Analysis of Top Players in Heat Pump Market, 2020
11.3 Market Evaluation Framework
Table 129 Market Evaluation Framework, 2017-2021
11.4 Segmental Revenue Analysis of Top Market Players
Figure 39 Top Players Dominated Market in Last 5 Years
11.5 Recent Developments
11.5.1 Deals
11.5.1.1 Heat Pump Market: Deals, 2017-2021
11.5.2 Others
11.5.2.1 Heat Pump Market: Others,2017-2021
11.6 Competitive Leadership Mapping
11.6.1 Star
11.6.2 Emerging Leader
11.6.3 Pervasive
11.6.4 Participant
Figure 40 Heat Pump Market: Competitive Leadership Mapping, 2020
Table 130 Company Region Footprint
12 Company Profiles
12.1 Key Companies
(Business Overview, Products Offered, Recent Developments, Analyst's View)*
12.1.1 Midea Group
Table 131 Midea Group: Business Overview
Figure 41 Midea Group: Company Snapshot
Table 132 Midea Group: Deals
Table 133 Midea Group: Product Launches
12.1.2 Panasonic Corporation
Table 134 Panasonic Corporation: Business Overview
Figure 42 Panasonic Corporation: Company Snapshot
Table 135 Panasonic Corporation: Deals
Table 136 Panasonic Corporation: Product Launches
Table 137 Panasonic Corporation: Others
12.1.3 Mitsubishi Electric Corporation
Table 138 Mitsubishi Electric Corporation: Business Overview
Figure 43 Mitsubishi Electric Corporation: Company Snapshot
Table 139 Mitsubishi Electric Corporation: Deals
Table 140 Mitsubishi Electric Corporation.: Product Launches
12.1.4 DENSO Corporation
Table 141 DENSO Corporation: Business Overview
Figure 44 DENSO Corporation: Company Snapshot
Table 142 DENSO Corporation: Deals
12.1.5 Samsung
Table 143 Samsung: Business Overview
Figure 45 Samsung: Company Snapshot
Table 144 Samsung: Deals
Table 145 Samsung: Product Launches
12.1.6 LG Electronics
Table 146 LG Electronics: Business Overview
Figure 46 LG Electronics: Company Snapshot
Table 147 LG Electronics: Product Launches
12.1.7 Lennox International
Table 148 Lennox International: Business Overview
Figure 47 Lennox International: Company Snapshot
12.1.8 Fujitsu General
Table 149 Fujitsu General: Business Overview
Figure 48 Fujitsu General: Company Snapshot
Table 150 Fujitsu General: Deals
12.1.9 Daikin Industries, Ltd.
Table 151 Daikin Industries, Ltd.: Business Overview
Figure 49 Daikin Industries, Ltd.: Company Snapshot
Table 152 Daikin Industries, Ltd.: Product Launches
12.1.10 Carrier Global
Table 153 Carrier Global: Business Overview
Figure 50 Carrier Global: Company Snapshot
Table 154 Carrier Global: Deals
12.1.11 Johnson Controls
Table 155 Johnson Controls: Business Overview
Figure 51 Johnson Controls: Company Snapshot
Table 156 Johnson Controls: Deals
12.1.12 Trane Technologies
Table 157 Trane Technologies: Business Overview
Figure 52 Trane Technologies: Company Snapshot
12.1.13 Thermax Limited
Table 158 Thermax Limited: Business Overview
Figure 53 Thermax Limited: Company Snapshot
12.1.14 GEA Group Aktiengesellschaft
Table 159 GEA Group Aktiengesellschaft: Business Overview
Figure 54 GEA Group Aktiengesellschaft: Company Snapshot
12.1.15 Danfoss A/S
Table 160 Danfoss: Business Overview
12.2 Other Players
12.2.1 Glen Dimplex Group
12.2.2 Viessmann
12.2.3 Nibe
12.2.4 Guangzhou Sprsun New Energy Technology Development
12.2.5 Rheem
12.2.6 Emerson Electric Co.
*Details on Business Overview, Products Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies
13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: The Subscription Portal
13.4 Available Customizations

Companies Mentioned

  • Carrier Global
  • Daikin Industries, Ltd.
  • Danfoss A/S
  • DENSO Corporation
  • Emerson Electric Co.
  • Fujitsu General
  • GEA Group Aktiengesellschaft
  • Glen Dimplex Group
  • Guangzhou Sprsun New Energy Technology Development
  • Johnson Controls
  • Lennox International
  • LG Electronics
  • Midea Group
  • Mitsubishi Electric Corporation
  • Nibe
  • Panasonic Corporation
  • Rheem
  • Samsung
  • Thermax Limited
  • Trane Technologies
  • Viessmann

Methodology

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Table Information

Report AttributeDetails
No. of Pages191
PublishedFebruary 2022
Forecast Period2021 - 2026
Estimated Market Value ( USD ) in 2021 $ 53.2 Billion
Forecasted Market Value ( USD ) by 2026 $ 83.5 Billion
Compound Annual Growth Rate9.5%
Regions CoveredGlobal
No. of Companies Mentioned21

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