Commercial Heat Pump Water Heater Market Will See Strong Expansion Through 2032 - Smith Corp, Daikin Industries, Mitsubishi Electric, etc.

Heat pump water heater uses energy-efficient technology to heat water for various commercial applications. It operates on the same principles as a heat pump used for space heating & cooling but is specifically configured to heat water. Further, owing to economic growth in emerging markets, the demand for commercial heat pump water heaters size is anticipated to witness growth during the forecast period. The commercial heat pump water heater market was valued at $299.4 million in 2022 and is estimated to reach $608.5 million by 2032, growing at a CAGR of 7.4% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://www.alliedmarketresearch.com/request-sample/14889

In addition, the rise in the need for sustainable technologies from the commercial sector will bolster the product requirement. The majority of governments around the globe are implementing various policies and schemes to promote the distribution of clean technologies in the commercial sectors, and improve the technology perception. Furthermore, the 500L-1000L segment is anticipated to register a CAGR of 5.0% over the commercial heat pump water heater forecast period owing to rapid urbanization and rise in demand for commercial space.

An increase in construction activities during the forecast period is expected to contribute to the European commercial heat pump water heater market growth. Moreover, stringent emission norms & regulations will compel constructors to install energy-efficient and renewable technologies, which is anticipated to stimulate the commercial heat pump water heater market demand.

Air source heat pump water heater is expected to dominate the commercial heat pump water heater market during the forecast period owing to the need for energy-efficient and environmentally friendly water heating solutions in various industries. In addition, to rise in hospitality, restaurants, healthcare, agriculture, retail and commercial buildings, recreation, and sports facilities further drives the demand for air-source heat pump water heaters.

Furthermore, the market for storage capacity of less than 10 kW is a significant growing segment within the commercial heat pump water heater industry. Moreover, the presence of multiple manufacturers offers heat pump water heaters with different capacity ranges. In addition, heat pump water heaters with a capacity exceeding 10 kW play a significant role in the commercial heat pump water heater market and serve larger-scale applications such as hotels, restaurants, industrial facilities, and other commercial enterprises.

The commercial heat pump water heater market is expected to be driven by factors such as the promising growth of the construction industry. Furthermore, the increase in disposable incomes of individuals across the globe is projected to encourage the uptake of a variety of commercial heat pump water heaters during the forecast period. In addition, factors such as the rise in the inclination of consumers toward energy-efficient systems and the increase in the popularity of air source heat pump water heater positively impact the commercial heat pump water heater market growth.

𝐆𝐞𝐭 𝐚 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/request-for-customization/14889

According to the Economic Outlook for Southeast Asia, China, and India 2023, the economic growth of China, India, and Southeast Asia expanded by more than 65% in 2021. ASEAN countries are exhibiting higher growth in commercial heat pump water heater market opportunities. Indonesia, the Philippines, Malaysia, Vietnam, and Thailand are expected to add more than 50 million new consumers to the category of middle-class by 2020, thereby adding over $350 billion in disposable income.

The rise in population positively influencing commercial constructions is expected to increase demand for the commercial heat pump water heater market. For instance, the rise in population in Gulf countries is anticipated to contribute significantly to construction spending in GCC countries. This is likely to propel growth in construction activities in the infrastructure & building sector, particularly education, housing, and healthcare infrastructure, to support communities.

Owing to rise in commercial heat pump water heater market trends such as demand for smart and connected features, hybrid systems, and advancement in refrigerant and compressor technology further drives the commercial heat pump water heater market. The commercial heat pump water heater market is expanding into new application areas, such as data centers, and other commercial settings owing to significant demand for hot water. Asia-Pacific is expected to be the largest as well as the fastest-growing region in the commercial heat pump water heater market during the forecast period.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Commercial Heat Pump Water Heater industry key market players adopt various strategies such as product launches, product development, collaboration, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐇𝐞𝐚𝐭 𝐏𝐮𝐦𝐩 𝐖𝐚𝐭𝐞𝐫 𝐇𝐞𝐚𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

Midea Group Co., Ltd.
Valliant Group
Daikin Industries Ltd.
Viessmann Group
A.O. Smith Corporation
Bosch Industries
Ingersoll Rand
Mitsubishi Electric
Rheem Manufacturing Company, Inc.
NIBE Energy Systems

Furthermore, factors driving the growth of the commercial heat pump water heater market include energy-efficient technology along with the usage of non-conventional sources of energy to heat the water. In addition, supportive regulations and grants for using renewable sources of energy in different applications are expected to play a key role in the growth of the commercial heat pump water heater market during the forecast period.

The commercial heat pump water heater market is segmented based on type, storage, capacity, refrigerant type, and region. Based on type, it is bifurcated into air source and geothermal. As per storage, it is divided into up to 500L, 500L-1000L, and above 1000L. Depending on capacity, it is bifurcated into less than 10kW and more than 10kW. According to refrigerant type, it is classified into R410A, R407C, and R744.

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. In 2023, Asia-Pacific accounts for the largest commercial heat pump water heater market share, followed by Europe and North America.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/14889

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

- Based on type, the air source segment accounts for more than four-fifths of the market share, in terms of revenue, in 2022. 
- Based on storage, the 500‒1,000 L segment accounts for more than half of the market share, in terms of revenue, in 2022. 
- Based on capacity, the above 10 kW segment accounts for more than three-fourths of the market share, in terms of revenue, in 2022. 
- Based on refrigerant, the R410A segments account for more than two-fifths of the market share, in terms of revenue, in 2022.
- Region-wise, Asia-Pacific accounts for nearly two-fifths of the market share, in terms of revenue, in 2022. 

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝟏. 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐇𝐞𝐚𝐭 𝐏𝐮𝐦𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2023/02/16/2609899/0/en/Industrial-Heat-Pump-Market-Is-Expected-to-Reach-17-7-Billion-by-2031-Allied-Market-Research.html

𝟐. 𝐇𝐞𝐚𝐭 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.co.uk/news-releases/heat-exchanger-market-to-reach-28-3-bn-globally-by-2030-at-5-5-cagr-allied-market-research-843702901.html

𝟑. 𝐔𝐧𝐝𝐞𝐫𝐟𝐥𝐨𝐨𝐫 𝐇𝐞𝐚𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/02/08/2380762/0/en/Underfloor-Heating-Market-to-Reach-8-39-Billion-by-2030-Allied-Market-Research.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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