Press release
Residential Heat Pump Market Growth: Heating & Cooling in Residential Applications
Residential heat pumps are widely installed in residential zones for maintaining warm and cool temperature in homes. These are an energy and environment efficient and a popular alternative to air conditioners and furnaces.
Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A15982
Asia-Pacific residential heat pump market is projected to grow fast during the forecast period.
The key players profiled in the global residential heat pump industry report include Midea Group, Johnson Controls, Daikin, Carrier Corporation, Glen Dimplex, NIBE, Stiebel Eltron, Viessmann, Mitsubishi Electric Corporation, and Danfoss.
Rising demand for energy-efficient residential heat pumps among people, to maintain a warm and cool climate in their homes, may act as the major driving factor for the market.
The residential heat pump market size has been experiencing significant growth globally, driven by a combination of increasing demand for energy-efficient heating and cooling systems, regulatory support for reducing carbon emissions, and advancements in heat pump technology.
By type, the market is classified as air source, water source, and geothermal. The air source segment dominated the global residential heat pump market in 2021 and is projected to be the fastest-growing segment during the forecast period.
Ground-source Heat Pumps (GSHP): Also known as geothermal heat pumps, these are more efficient but have higher upfront costs due to installation complexity.
Water-source Heat Pumps: Suitable for areas near large water bodies but less common than air- or ground-source systems.
Hybrid Heat Pumps: Combine heat pumps with traditional heating systems to optimize efficiency depending on outdoor temperatures.
By power source, the market is classified into electric powered and gas powered. The electric powered segment dominated the global residential heat pump market in 2021 and is also projected to be the fastest-growing segment during the forecast period.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A15982
By Application:
Heating and Cooling: Many residential heat pumps provide both heating and cooling, making them attractive for year-round use.
Water Heating: Heat pumps are increasingly being used to heat water, replacing traditional gas or electric water heaters.
Market Trends:
Renewable Energy Integration: Residential heat pumps are being paired with renewable energy sources like rooftop solar panels, further enhancing their environmental and economic benefits.
Cold Climate Heat Pumps: New technologies are making heat pumps viable in colder climates, expanding their market potential in regions previously reliant on traditional heating methods.
Integration with Smart Home Systems: Many modern heat pumps are equipped with smart controls and can be integrated into home automation systems, offering consumers more control over their energy consumption.
Cost Reduction: Although heat pumps have high upfront costs, prices are expected to decline with advances in technology, mass production, and increasing competition among manufacturers.
Buy This Report (210 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3NBe4y9
IMPACT OF COVID-19 ON THE GLOBAL RESIDENTIAL HEAT PUMP MARKET
Residential heat pumps are commonly used to warm the interior of homes. However, due to the lockdown and severe controls implemented as a result of the COVID-19 pandemic, heat pump production plants have suffered a significant reduction in 2020, owing to a reduced workforce and a disturbed supply chain.
COVID-19 hampered different industrial activities and disrupted the supply chain, affecting practically all industries. Due to a lack of workers, most businesses have shut down. As a result of COVID-19's influence, the global residential heat pump market forecast has seen a significant drop.
According to the United Nations Industrial Development Organization (UNIDO), 30.0%-70.0% of pre-COVID-19 workforce of various industries, such as electrical and other third-party vendors, migrated to their hometowns due to uncertainties and loss of income during the lockdown. This unavailability or less availability of workforce is expected to directly affect the production and manufacturing activities, thereby resulting in decline in the residential heat pump market growth during the forecast period.
Trending Reports in Energy and Power Industry:
Industrial Heat Pump Market
https://www.alliedmarketresearch.com/industrial-heat-pump-market-A47269
Heat Pump Market
https://www.alliedmarketresearch.com/heat-pump-market
Commercial Heat Pump Water Heater Market
https://www.alliedmarketresearch.com/commercial-heat-pump-water-heater-market-A14520
Geothermal Heat Pump Market
https://www.alliedmarketresearch.com/geothermal-heat-pump-market-A10486
Residential Heat Pump Market
https://www.alliedmarketresearch.com/residential-heat-pump-market-A15982
Underfloor Heating Market
https://www.alliedmarketresearch.com/underfloor-heating-market-A06488
Heat Exchanger Market
https://www.alliedmarketresearch.com/heat-exchanger-market
David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.Int'l: +1-503-894-6022Toll Free: +1-800-792-5285Fax: +1-800-792-5285help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog:
https://blog.alliedmarketresearch.com
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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 Residential Heat Pump Market Growth: Heating & Cooling in Residential Applications here
News-ID: 3842011 • Views: …
More Releases from Allied Analytics LLP
Heat Meters Market Set to Grow with Rising Demand for Energy Efficiency
According to a new report published by Allied Market Research, the heat meters market size was valued at $1.6 billion in 2022, and is estimated to reach $2.7 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032.
A heat meter is a device used to measure and quantify the amount of thermal energy (heat) transferred from a heat source to a system or consumer. It accurately measures…
Heat Pump Market Set for Strong Growth Through 2032
According to a new report published by Allied Market Research, the heat pump market size was valued at $71.2 billion in 2022, and is estimated to reach $201.5 billion by 2032, growing at a CAGR of 11.1% from 2023 to 2032.
A heat pump is a versatile and efficient device that transfers heat from one location to another using a refrigeration cycle. It operates by absorbing heat from a low-temperature source…
Energy Efficient Lighting Market Shines Bright with Strong Growth Outlook
According to a new report published by Allied Market Research, the global energy efficient lighting market was valued at $46.2 billion in 2021 and is projected to reach $93.3 billion by 2030, growing at a robust CAGR of 8.1% from 2022 to 2030. This surge reflects a powerful global movement toward greener, smarter, and more cost-effective lighting technologies.
Energy efficient lighting refers to lighting systems and products that use less electricity…
The Future of Energy: How Fuel Cells Are Reshaping Power Generation
According to a new report published by Allied Market Research, titled, "Fuel Cell Market," The fuel cell market size was valued at $3.6 billion in 2020, and is estimated to reach $32.0 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030.
The fuel cell market has emerged as a transformative force in the global energy landscape, offering a clean, efficient, and sustainable alternative to conventional energy sources.…
More Releases for Heat
Global Ceramic Heat Sink Heat Sink Market Drivers Analysis 2025
According to our (Global Info Research) latest study, the global Ceramic Heat Sink Heat Sink market size was valued at US$ million in 2024 and is forecast to a readjusted size of USD million by 2031 with a CAGR of %during review period.
This report is a detailed and comprehensive analysis for global Ceramic Heat Sink Heat Sink market. Both quantitative and qualitative analyses are presented by manufacturers, by region &…
Plate Fin Heat Sinks vs. Heat Pipe Heat Sinks: Which is Right for Consumers?
In the modern industrial landscape, heat sinks [https://www.coolerchina.com/] play a crucial role in ensuring the stable operation and longevity of equipment by effectively dissipating heat generated by devices into the surrounding environment. Among the numerous types of heat sinks available, plate fin heat sinks and heat pipe heat sinks are two of the most common. This article will compare these two types, helping you choose the right one for your…
Efficient Heat Transfer Solutions: Global Heat Pipe Heat Exchanger Market to Rea …
As per the study initiated by Evolve Business Intelligence, the global Heat Pipe Heat Exchanger market size accounted for USD 18.2 Billion in 2022, growing at a CAGR of 6.5% from 2023 to 2033. The Heat Pipe Heat Exchanger (HPHE) Market refers to the global market for heat exchangers that use heat pipes as a primary heat transfer element. Heat pipe heat exchangers are used in a wide range of…
India Heat Exchangers Market Size Set For Explosive Growth | Radiant Heat Exchan …
The India heat exchangers market accounted for $454.4 million in 2018, and is anticipated to reach $890.0 million by 2026, registering a CAGR of 8.6% from 2019 to 2026. Heat exchanger is a system designed to efficiently transfer energy between two or more fluids. The production of heat exchangers is a highly labor-intensive process, attributable to the long welding hours. Thus, heat exchangers are preferably manufactured in India, owing to…
Exclusive Report on Heat Pipe Heat Exchanger Market: Heat Pipe Heat Exchanger Ma …
According to the study published by Evolve business intelligence, “The global Heat Pipe Heat Exchanger market size is expected to reach $ Billion by 2028 growing at the CAGR of 10% from 2021 to 2028. The report provides the reader with a deep-dive understanding of business opportunities, competitor analysis, market size and forecast, go-to-market strategy, and market share. After evaluating the next-gen business analytic report, the reader is directed to…
Global Heat Pipe Heat Exchanger Market Research Report 2017
Summary
This report studies Heat Pipe Heat Exchanger in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering
Mitsubishi Electric Corporation
Nortek Air Solutions
Munters Corporation
Greenheck
RenewAire
DRI Innovative Air Solutions
Reznor
Zehnder America
Ruskin Rooftop System
Market Segment by Regions, this report splits Global into several key Regions, with production, consumption, revenue, market share and growth…
