openPR Logo
Press release

By 2032, The Heat Pumps Market Is Expected To Reach US$ 50.714 Mn At A CAGR Of 4.3%.

12-16-2022 10:06 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

By 2032, The Heat Pumps Market Is Expected To Reach US$ 50.714 Mn

According to Future Market Insights (FMI), the market for heat pumps will increase by 3.6% annually in 2022, reaching a value of about US$ 33,156 Mn by the year's end. At a CAGR of 4.3%, the market is anticipated to reach US$ 50.714 Mn by 2032.

The initial reduction of energy consumption and carbon emissions from such devices is recognised as a key market driver for heat pumps. Greater residential and construction investment will open up new markets for heat pump suppliers. Between 2022 and 2030, the market is projected to grow at a significant rate (CAGR) of 5.4% in terms of value.

According to FMI, the Asia Pacific region will dominate the market for heat pumps, followed by North America. By the end of 2032, APAC and North America are anticipated to have a combined revenue share of 73.9% of the global market.

FMI provides an analysis of half-yearly comparisons and significant information regarding the market for heat pumps' prospects for expansion. The growth of the construction industry and the increased enforcement of strict new building regulations by governments around the world, particularly in the United States, China, Japan, Europe, and South Korea, are expected to have a significant impact on the demand for heat pumps for residential applications.

Get Access To Sample Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-480

FMI analysis shows the difference between the BPS values seen in the heat pump market in H1 2022 and the outlook for H1 2022 The forecast shows a decrease of 17 units. Additionally, the market is anticipated to increase by 89 BPS in H1 2022 compared to H1 2021.

As consumers demand more technologically advanced and environmentally friendly heating and cooling equipment, the market for heat pumps is expected to grow. Particularly helpful for lowering carbon intensity are heat pumps. They can assist in reducing the amount of electricity used for cooling and heating applications by half when compared to conventional electric resistance heating appliances.

Heat pumps' initial reduction in energy consumption and carbon emissions from various devices is acknowledged as one of their main commercial benefits. Greater residential and construction spending will expand the markets available to heat pump manufacturers.

The demand for CO2 refrigerant heat pumps is rising.

From 2022 to 2030, CO2 Refrigerant Heat Pumps are anticipated to create a $2,731 Mn absolute dollar opportunity. These CO2 refrigeration heat pumps are increasingly in demand due to their simplicity of use, low cost, and green attributes. Currently, China, Japan, and other Asian markets offer CO2 refrigerator heat pumps. When compared to ground-source heat pumps, which are used for domestic water heating, air-source heat pumps have lower overall installation costs, making them a popular choice for CO2 refrigerators.

Customization Report Before Buying, Visit: https://www.futuremarketinsights.com/customization-available/rep-gb-480

The market for heat pumps in the United States

The North American U.S. heat pump market is anticipated to grow by volume by 2.1% in 2022. Because of various factors, including weather, the ease of obtaining resources, the advantages of receiving government tax credits, and regulations, the supply of heat pumps has gradually increased in the North American region, particularly in the United States. By the end of 2022, the US market will have generated US revenues totalling $6,816.0 Mn, according to the study.

Why is the demand for heat pumps growing in Japan

Japan is anticipated to grow at a CAGR of 4.6% between 2022 and 2030. The heat pump technology uses air temperature and renewable heat output to convert heat to renewable heat with minimal power consumption. Japan tries to promote this technology because it has so many benefits. For heat pumps, Japan is regarded as a developed country. In the past ten years, more than 35,000 water heating system units have been released onto the market. By 2030, the nation's GDP is projected to be $3,475.4 million USD.

Competitive Landscape

Several key manufacturers of Heat Pumps supplies are also focusing on developing new technology-driven in higher quantities to capitalize on existing opportunities in the market. Through mergers & acquisitions, and research & development activities, these players have been able to expand their market footprint. Emergence of various manufacturers has also been witnessed in this space.

For Instance,

- In 2022, Viessmann Group has taken a majority stake in Pacifica Home Services Ltd. (PHS), simultaneously backing the re-investment of the Management team. PHS is a specialist in both the installation and maintenance of integrated HVAC solutions with a further specialization in heat pumps.
- In 2020, Glen Dimplex Group launch a new M Flex air-to-water heat pump which is available in two versions, either with six to nine or with nine to 16 kW heat output. Both the outdoor and the indoor units have a compact and space-saving design. The design features reassuringly high-quality materials, clearly accentuated surfaces and excellent workmanship.

Contact Us:

Future Market Insights, Inc
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release By 2032, The Heat Pumps Market Is Expected To Reach US$ 50.714 Mn At A CAGR Of 4.3%. here

News-ID: 2852349 • Views:

More Releases from Future Market Insights

External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Driven by Innovation and Expanding Healthcare Access
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Dr …
The global external anti-infective preparations market is on track for sustained growth, with revenues projected to rise from USD 5,412.8 million in 2025 to approximately USD 6,728.7 million by 2035, representing an absolute increase of USD 1,315.9 million and a compound annual growth rate (CAGR) of 2.2%. This expansion is fueled by the increasing prevalence of external infections and the growing demand for localized antimicrobial treatment solutions across hospitals, clinics,
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Driven by Innovation and Expanding Healthcare Access
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Dr …
The global external anti-infective preparations market is on track for sustained growth, with revenues projected to rise from USD 5,412.8 million in 2025 to approximately USD 6,728.7 million by 2035, representing an absolute increase of USD 1,315.9 million and a compound annual growth rate (CAGR) of 2.2%. This expansion is fueled by the increasing prevalence of external infections and the growing demand for localized antimicrobial treatment solutions across hospitals, clinics,
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Driven by Innovation and Expanding Healthcare Access
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Dr …
The global external anti-infective preparations market is on track for sustained growth, with revenues projected to rise from USD 5,412.8 million in 2025 to approximately USD 6,728.7 million by 2035, representing an absolute increase of USD 1,315.9 million and a compound annual growth rate (CAGR) of 2.2%. This expansion is fueled by the increasing prevalence of external infections and the growing demand for localized antimicrobial treatment solutions across hospitals, clinics,
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Driven by Innovation and Expanding Healthcare Access
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Dr …
The global external anti-infective preparations market is on track for sustained growth, with revenues projected to rise from USD 5,412.8 million in 2025 to approximately USD 6,728.7 million by 2035, representing an absolute increase of USD 1,315.9 million and a compound annual growth rate (CAGR) of 2.2%. This expansion is fueled by the increasing prevalence of external infections and the growing demand for localized antimicrobial treatment solutions across hospitals, clinics,

All 5 Releases


More Releases for Japan

Vision Guided Robotic Systems Market Size 2022 - FANUC(Japan), KUKA(Germany), AB …
The Vision Guided Robotic Systems Market research report also provides an in-depth analysis of key players in the market, including their company profiles, business offerings, recent development, market strategies, and critical observation related to the product. The research study provides extensive coverage of the Vision Guided Robotic Systems Market size across all industries and businesses. In addition, it offers detailed insights into market size and growth depending upon various segments
Japan Agriculture Market, Japan Agriculture Industry, Japan Agriculture Livestoc …
The agriculture sector is a very significant sector in Japan. Agriculture sector exists in every part of country, but is especially essential on the northern island of Hokkaido that accounts for approximately 10% of national production. Modern methods such as commercial fertilizers, hybrid seeds, insecticides, and machinery, have been used so efficiently in farming. Japan is the second major agricultural product importer in the world (after the U.S.). Almost all
Car Navigation ECU Market 2019: Top Key Players are AW Software (Japan), Contine …
Car Navigation ECU Market 2019 Report analyses the industry status, size, share, trends, growth opportunity, competition landscape and forecast to 2025. This report also provides data on patterns, improvements, target business sectors, limits and advancements. Furthermore, this research report categorizes the market by companies, region, type and end-use industry. Get Sample Copy of this Report@ https://www.researchreportsworld.com/enquiry/request-sample/13844912 Global Car Navigation ECU market 2019 research provides a basic overview of the industry
Global Car Navigation ECU Market Outlook to 2023 – AW Software (Japan), Contin …
An automotive navigation system is part of the automobile controls or a third party add-on used to find direction in an automobile and the ECU is the core part control it. Car Navigation typically uses a satellite navigation device to get its position data which is then correlated to a position on a road. According to this study, over the next five years the Car Navigation ECU market will register a
Global Car Navigation Parts Market Research Report 2019-2025  | Global Key Play …
This research report titled “Global Car Navigation Parts Market” Insights, Forecast to 2025 has been added to the wide online database managed by Market Research Hub (MRH). The study discusses the prime market growth factors along with future projections expected to impact the Car Navigation Parts Market during the period between 2018 and 2025. The concerned sector is analyzed based on different market factors including drivers, restraints and opportunities in
Global Automotive 3D Scanning Laser Radar (3D-LiDAR) Market 2019-2025 | Velodyne …
Researchmoz added Most up-to-date research on "Global Automotive 3D Scanning Laser Radar (3D-LiDAR) Market Insights,Forecast to 2025" to its huge collection of research reports. 3D LiDAR uses a pulsed laser to detect distance, velocity and angle with high precision. LiDAR can classify objects, detect lane markings, and may also be used to accurately position an autonomous vehicle relative to a high definition map. 3D LiDAR is prominent, as it is a key