US Heat Pumps Market 2020 Size, Growth Analysis Report, Forecast to 2026

US heat pumps market is estimated to exhibit a sturdy CAGR of 7.4% during the forecast period (2020-2026). The regulations from the Environmental Protection Agency (EPA) and the US Green Building Council are expected to ensure the growth of green buildings in the country, thereby promoting the adoption of heat pumps in the US. The demand is more prominent in the southern states of the country as the warm summers and mild winters are more ideal for the utilization of heat pumps. Products with high COP, capacity, and energy efficiency may be referred to in the west, where the temperature can reach extremely low during winter.

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Further, the recent minimum energy standards of the country require all the air conditioning and air source heat pumps to meet the new standards from 2023 onwards which might enforce the vendors to make appropriate changes concerning operations and functionality of heat pumps to comply with the local needs and regulations. Accordingly, the new standard recommends a cooling performance of no less than 14 SEER in residential systems for the Northern part of the US and 15 SEER in the southern part of the country. Additionally, the minimum HSPF is to be 8.8 from the previous 8.2 where the vendors are recommended to align and develop their offerings accordingly.

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Moreover, the outbreak of the COVID-19 pandemic has resulted in a decline in the sales of heat pumps in the country. The US is one of the worst-hit COVID-19 countries and has suffered a significant downfall in nearly every major industry including construction. Most of the activities came to a halt in the earlier months of the pandemic, which damaged the heat pumps industry in the US. However, with the slowing down of the pandemic in recent days, the country is expected to gain momentum with operations resuming in every major industry. This will result in the stimulation of heat pumps in the US.

Market Coverage

The market number available for – 2019-2026
Base year- 2019
Forecast period- 2020-2026
Segment Covered- by Product Type, Capacity, and End-user
Country Covered- the US
Competitive Landscape- Carrier, Danfoss, Johnson Controls International plc, Mitsubishi Electric Corporation, and Trane Technologies plc

US Heat Pumps Market Report Segment

By Product Type

Air Source
Water Source
Ground Source

By Capacity

20W

By End-User

Commercial
Industrial
Residential

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