Residential Air Source Heat Pumps Market, Global Outlook and Forecast 2024-2030
The global Residential Air Source Heat Pumps market size was valued at US$ 15.67 billion in 2024 and is projected to reach US$ 28.92 billion by 2030, at a CAGR of 10.7% during the forecast period 2024-2030.
The United States Residential Air Source Heat Pumps market size was valued at US$ 4.56 billion in 2024 and is projected to reach US$ 8.23 billion by 2030, at a CAGR of 10.3% during the forecast period 2024-2030.
Residential Air Source Heat Pumps are energy-efficient heating and cooling systems that transfer heat between indoor and outdoor air, providing year-round climate control for homes.
The global market is growing rapidly, driven by energy efficiency regulations and electrification trends. In 2023, unit installations reached 8.5 million globally, with retrofit applications accounting for 55% of demand. The market saw a 40% increase in smart heat pump adoption in 2023. Split systems dominate with a 75% market share, while monobloc systems are growing at 12% annually. Europe leads with a 40% market share, while Asia Pacific is the fastest-growing region at 11.5% CAGR. The industry is focusing on developing cold climate performance, with a 35% growth in R&D investments for efficiency improvements.
Report Overview
Air Source Heat Pump (ASHP) is a device which uses a vapor compression cycle to transfer heat between outdoor air and indoor air or water. There are two type of air source heat pumps including air-to-air heat pumps and air-to-water heat pumps. As the name implies, these systems heat or cool indoor air or move energy into water. An air-source heat pump can provide efficient heating and cooling for your home, especially if you live in a warm climate. When properly installed, an air-source heat pump can deliver one-and-a-half to three times more heat energy to a home than the electrical energy it consumes. This is possible because a heat pump moves heat rather than converting it from a fuel, like in combustion heating systems.
This report provides a deep insight into the global Residential Air Source Heat Pumps market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Residential Air Source Heat Pumps Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Residential Air Source Heat Pumps market in any manner.
Global Residential Air Source Heat Pumps Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Daikin Industries
Mitsubishi Electric
Fujitsu General
Panasonic
Carrier
Bryant
LG Electronics
lennox
Aermec
Sanden International
NIBE
Bosch Thermotechnik
Danfoss
A. O. Smith
Ingersoll-Rand
Viessmann
Market Segmentation (by Type)
Air-to-Air
Air-to-Water
Market Segmentation (by Application)
Rural
City
Geographic Segmentation
