New Zealand Air Source Heat Pump Market By Process (Air to Air (Ducts Vs. Ductless), Air to Water (Split Vs. Integrated)), By End Use, By Sales Channel, By Region, By Company, Forecast & Opportunities, 2018-2028F

The New Zealand air source heat pump market size is anticipated to register an impressive CAGR during the forecast period. Heat pumps have evolved into the most energy-efficient electric heating/cooling systems available in New Zealand. The air source heat pump market is anticipated to project robust growth during the forecast period on account of factors such as the country's high humidity levels, low carbon emissions, and low running costs. New product launches by various companies are a prominent trend that is expected to affect new product launches throughout the forecast period.

Heat pumps heat home by absorbing heat from the outside and transferring it inside. When it's hot outdoors, it reverses direction and functions as an air conditioner, eliminating heat from the home. Heat pumps are an effective technique to heat a room in the winter. They typically take 10-20 minutes to bring a room to the ideal temperature and easily maintain it. Air source heat pumps are presently used by more than 25% of all New Zealand houses, making them the third most common heating system in the country.

Due to the high demand for air-source heat pumps in the country, heat pump manufacturers are prompted to offer new products. For instance, Mitsubishi Electric utilizes HyperCore Technology' in their new air source heat pumps. When the temperature drops below 7 degrees, most standard heat pumps provide less heat. HyperCore Technology assures full effectiveness down to -15 degrees, making it an excellent performer in New Zealand's colder temperatures. In contrast to other heat pumps, which are designed for functioning only in more temperate settings - and normally recommend having a backup option for when things become too rough - the HyperCore Technology is specifically engineered to deal with more extreme cold.

Increasing the Energy Efficiency of Air Source Heat Pump Will Fuel The Market Growth

Air source heat pumps are a particularly cost-effective alternative to standard electric heating alternatives since they transport heat rather than generate heat. The Energy Star rating assists in demonstrating the efficiency of the heat pump. For instance, the most energy-efficient heat pumps available in New Zealand are 250% efficient (they produce USD 1.55 of heat for every dollar of electricity consumed). The most efficient models available in the market are more than 500% efficient. They utilize external heat and cold to efficiently adjust the temperature of the house. As a result, they are 50% more cost-effective than gas heaters and consume 50% less energy than other electric heating and cooling systems. This is one of the major factors which is driving the market growth during the forecast period.

Increasing Humidity in New Zealand Will Boost the Market Growth

Heating, insulation, and ventilation are the three most important components which help maintain good indoor air quality. Unflued gas heaters emit carbon dioxide and fill the air with hazardous amounts of moisture. Without sufficient ventilation, this can be hazardous to customers’ health. Rainfall in New Zealand is rather significant, contributing to the country's high humidity, which is concentrated primarily in North Island. For instance, the average annual humidity in Auckland is 82%. Air source heat pumps can dehumidify in cooling or "dry" modes, allowing them to combat excess moisture such as condensation and humidity. Thus, this acts as a driving factor for the air source heat pump market.

New Housing Projects By Government Will Fuel Market Growth

The growing preference for new homes in New Zealand, along with a growth in the number of construction projects, is boosting demand for air-source heat pumps across the country. In 2022 the government-initiated Mangere, which is a major housing project for Auckland, with the goal of replacing approximately 2,700 state housing units with up to 10,000 new healthy houses. Over the next 10-15 years, approximately 3,000 new state houses, as well as 3,500 affordable and 3,500 market homes, will be developed. These new homes and building projects are regarded as key market drivers since they promote the product throughout the country. The increasing demand for air-source heat pumps from builders is anticipated to further fuel the market growth during the forecast period.

Market Segmentation

New Zealand air source heat pump market is segmented based on process, end use, sales channel, region, and competitive landscape. Based on the process, the market is further fragmented into the air to air (ducts vs. ductless) and air-to-water (split vs. integrated). Based on end-use, the market is segmented into residential, hotels & resorts, gyms & spas, education, food service, and others (healthcare, offices, etc.). Based on sales channels, the market is segmented into plumbers, dealers & contractors, retail, direct sales, online, and others (distributors, builders, etc.). The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North Island and South Island.

Market Players

Rheem New Zealand Ltd., Daikin Air Conditioning New Zealand Ltd., Black Diamond Technologies Limited (Mitsubishi), Panasonic New Zealand Limited, Toshiba (Australia) Pty Limited, Hot Water Heat Pumps Ltd., Johnson Controls International Plc. (Hitachi), Stiebel Eltron NZ Limited, Energy Alternatives NZ, and The Alternative Energy Company Ltd. are the major market players in the New Zealand Air Source Heat Pump market.

Report Scope:

In this report, New Zealand air source heat pump market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

New Zealand Air Source Heat Pump Market, By Process:

• Air to Air
• Air to Water

New Zealand Air Source Heat Pump Market, By End Use:

• Residential
• Hotels & Resorts
• Gym & Spas
• Education
• Food Service
• Others

New Zealand Air Source Heat Pump Market, By Sales Channel:

• Plumbers
• Dealers & Contractors
• Retail
• Direct Sales
• Online
• Others

New Zealand Air Source Heat Pump Market, By Region:

• North Island
• South Island

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in New Zealand air source heat pump market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.


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