North America Heat Pump Market to Exhibit a Remarkable CAGR of 8.9% by 2030

Data Bridge Market Research analyses that the North America Heat Pump Market is expected to reach a value of USD 26,491.32 million by 2030, at a CAGR of 8.9% during the forecast period. "Air-to water heat pump" is the largest system segment in the heat pump market. The North America heat pump market report also covers pricing analysis, patent analysis, and technological advancements in depth.

The North America heat pump market has witnessed growth due to the rising demand for heating, ventilation, and air-conditioning (HVAC) Systems. It can be used for numerous residential, commercial, and industrial applications in various industries such as general manufacturing, chemical and petroleum, food and beverages, utilities, textile and leather, wood products, metal, and others. The recent pandemic has slightly decreased growth across all sectors, but these systems have a huge potential to enhance industrial capabilities as these systems are the future. The North America heat pump market is in the rapid growth phase due to the growing demand for dual-source heat pumps (DSHP) across the U.S.

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Some of the major players operating in the North America heat pump market are

Danfoss Industries Pvt. Ltd.
Trane Technologies plc
NIBE Industrier AB
Midea Group
VIVRECO group
Robert Bosch GmbH
American Standard Heating and Air Conditioning (Brand of Trane Technologies plc)
Lennox International Inc.
Rheem Manufacturing Company
Goodman (A Brand of Daikin Comfort Technologies North America, Inc.)
Thermax Limited.
Mitsubishi Electric Corporation
DAIKIN INDUSTRIES, Ltd.
Carrier.
Johnson Controls
RUUD (Brand of Rheem Manufacturing Company)
BRYANT (Brand of Carrier.)
Recent Developments

In April 2021, Thermax Limited signed an agreement with power roll to develop the market for solar film in India. The companies agreed to develop solar energy instruments. The main objective of the companies was to contribute towards a green solution. The companies will be able to expand their product portfolio and attract a new customer base.
In April 2022, DAIKIN INDUSTRIES, Ltd announced the acquisition of DUPLOMATIC MS S.P.A. the acquisition was decided to start manufacturing hydraulic-related equipment. The acquisition will help diversify the product portfolio and have a business in a wide range of fields. Companies took the step to expand their product portfolio and increase the profit margin and workforce of the company.
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North America Heat Pump Market Segments:

By Type

Air-To-Water Heat Pump
Air-To-Air Heat Pump
Water Source Heat Pump
Ground Source Heat Pump
Hybrid Heat Pump
By Component

Hardware
Services
By Capacity

Up to 10 kW
10 to 20 kW
20 to 30 kW
Above 30 kW
By Power Source

Electric
Others
By Refrigerant Type

R410A
R134A
R717 (Ammonia)
R407C
R600 and R600A
R744
Others
By Cycle Type

Vapor Compression
Transcritical
Absorption
By System Type

Air Source Heat Pumps
Geothermal Heat Pumps
Others
By Application

Residential
Commercial
Industrial
North America Heat Pump Market Regional Analysis/Insights

The North America heat pump market is analyzed, and market size insights and trends are provided by country, type, component, capacity, power source, refrigerant type, cycle type, system type, and application, as referenced above.

Some countries covered in the North America heat pump market report are the U.S., Canada, and Mexico. The U.S. is expected to dominate the North America heat pump as it is at the forefront of technology development and sustainable development in the region.

The country section of the report also provides individual market-impacting factors and market regulation changes that impact the market's current and future trends. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North American brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

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About Data Bridge Market Research, Private Ltd

Data Bridge Market Research Pvt Ltd is a multinational management consulting firm with offices in India and Canada. As an innovative and neoteric market analysis and advisory company with unmatched durability level and advanced approaches. We are committed to uncover the best consumer prospects and to foster useful knowledge for your company to succeed in the market.

Data Bridge Market Research is a result of sheer wisdom and practice that was conceived and built-in Pune in the year 2015. The company came into existence from the healthcare department with far fewer employees intending to cover the whole market while providing the best class analysis. Later, the company widened its departments, as well as expands their reach by opening a new office in Gurugram location in the year 2018, where a team of highly qualified personnel joins hands for the growth of the company. "Even in the tough times of COVID-19 where the Virus slowed down everything around the world, the dedicated Team of Data Bridge Market Research worked round the clock to provide quality and support to our client base, which also tells about the excellence in our sleeve."

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