Press release
Heat Pump Water Heater Market Soars to US$ 38.60 Billion Experiencing a 11.9% CAGR Boosted by Industry Key Players From 2025 to 2034
Heat Pump Water Heater Market
What Are Heat Pump Water Heaters?
Heat pump water heaters are energy-efficient alternatives to traditional water heaters that work by transferring heat from the surrounding air to water instead of generating heat directly. They are known for their high efficiency and lower operating costs compared to electric resistance heaters. Heat pump water heaters operate on a refrigeration cycle, using electricity to move heat from one place to another. They absorb heat from the ambient air, then use a compressor and refrigerant to raise the temperature of this captured heat and transfer it to the water in the storage tank. They are significantly more energy-efficient than traditional electric resistance water heaters, potentially saving up to 70% on electricity costs.
Get Exclusive Sample Pages of This Report:
https://www.polarismarketresearch.com/industry-analysis/heat-pump-water-heater-market/request-for-sample
Market Drivers:
• Growing use in residential, commercial, and industrial sectors to reduce carbon dioxide (CO2) emissions is boosting market growth.
• The demand for more eco-friendly options is driving the adoption of heat pump water heaters.
• The increasing need for energy-saving heating options is enhancing the revenue of the market for heat pump water heaters.
• As technology progresses to enhance efficiency and flexibility, it is promoting wider usage and interest in heat pump water heaters.
Industry Developments - Heat Pump Water Heater Market:
July 2024: A. O. Smith introduced the Voltex® MAX hybrid heat pump water heater, delivering a 40% improvement in First Hour Ratings compared to previous models. The unit also features advanced operating modes designed to enhance hot water availability and overall energy efficiency.
October 2024: Nyle Water Heating Systems unveiled the PyroclastTM Commercial Integrated Heat Pump Water Heater, incorporating cutting-edge Phase Change Material (PCM) technology. This innovative system provides 375 gallons of thermal storage while ensuring rapid installation and reduced risk of pathogen contamination.
Request for a Discount on this Report Before Purchase:
https://www.polarismarketresearch.com/industry-analysis/heat-pump-water-heater-market/request-for-discount-pricing
Key Market Players:
The competitive environment consists of a combination of global frontrunners and local companies striving to seize market share in heat pump water heaters by means of innovation, strategic alliances, and expansion into new regions. Following are some of the key players in market:
• A. O. Smith India Water Products Pvt. Ltd.
• Bosch Thermotechnology Corp.
• Carrier.
• DAIKIN INDUSTRIES, Ltd.
• FUJITSU GENERAL
• Haier HVAC Solutions
• INSPUR Co., Ltd.
• Johnson Controls - Hitachi Air Conditioning Company
• LG Electronics.
• Midea America Corp.
• MITSUBISHI HEAVY INDUSTRIES, LTD.
• Panasonic Holdings Corporation
• Rheem Manufacturing Company.
• Trane
• Vaillant Group International GmbH
Heat pump water heater Market Report Highlights:
• In terms of operation type, the electric segment led the expansion of the heat pump water heater market in 2024, driven by its extensive adoption across both residential and commercial sectors.
• Based on tank capacity, the 300 to 500 L segment is projected to experience the most rapid growth in the heat pump water heater market during the forecast period, fueled by increasing demand from commercial facilities and multi-family residential buildings.
• Asia Pacific led the global market in 2024, largely attributed to rapid urbanization, stringent energy efficiency regulations, and robust government initiatives supporting sustainable heating solutions.
• The North America heat pump water heater market is expected to witness the fastest growth during the forecast period, propelled by rising regulatory support and a growing consumer shift toward energy-efficient appliances.
Segmental Overview:
By Technology Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)
• Air to Water
• Water Source
• Geothermal
By Capacity Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)
• Upto 20 kW
• 21 to 50 kW
• 51 to 100 kW
• Above 100 kW
By Operation Type Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)
• Electric
• Hybrid
By Application Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)
• Residential
• Industrial
• Commercial
By Tank Capacity Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)
• Upto 150 L
• 150 to 300 L
• 300 to 500 L
• Above 500 L
Explore The Complete Comprehensive Report Here:
https://www.polarismarketresearch.com/industry-analysis/heat-pump-water-heater-market
Regional Analysis:
• The heat pump water heater market revenue was dominated by Asia Pacific in 2024, mainly because of swift urbanization, rising energy efficiency standards, and robust government efforts advocating for eco-friendly heating options.
• North America is expected to experience the fastest growth during the forecast period, fueled by rising regulatory backing and an increasing consumer inclination towards energy-efficient appliances.
• North America
o Technology Outlook
• Air to Water
• Water Source
• Geothermal
o Capacity Outlook
• Upto 20 kW
• 21 to 50 kW
• 51 to 100 kW
• Above 100 kW
o Application Outlook
• Residential
• Industrial
• Commercial
o Operation Type Outlook
• Electric
• Hybrid
o Tank Capacity Outlook
• Upto 150 L
• 150 to 300 L
• 300 to 500 L
• Above 500 L
• Asia Pacific
o Technology Outlook
• Air to Water
• Water Source
• Geothermal
o Capacity Outlook
• Upto 20 kW
• 21 to 50 kW
• 51 to 100 kW
• Above 100 kW
o Application Outlook
• Residential
• Industrial
• Commercial
o Operation Type Outlook
• Electric
• Hybrid
o Tank Capacity Outlook
• Upto 150 L
• 150 to 300 L
• 300 to 500 L
• Above 500 L
Report Scope:
In order to give a thorough picture of the heat pump water heater market, the report concentrates on the latest developments, market share, revenue generated, leading companies in the market, and geographic analysis.
More Trending Latest Reports by Polaris Market Research:
Tandem Piston Compressor Market:
https://www.polarismarketresearch.com/industry-analysis/tandem-piston-compressor-market
Shunt Reactor Circuit Market:
https://www.polarismarketresearch.com/industry-analysis/shunt-reactor-circuit-market
Wind Turbine Protection Market:
https://www.polarismarketresearch.com/industry-analysis/wind-turbine-protection-market
Ocean Economy Market:
https://www.polarismarketresearch.com/industry-analysis/ocean-economy-market
Contact:
Likhil G
8 The Green Ste 19824,
Dover, DE 19901,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow Us: LinkedIn | Twitter
About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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 Heat Pump Water Heater Market Soars to US$ 38.60 Billion Experiencing a 11.9% CAGR Boosted by Industry Key Players From 2025 to 2034 here
News-ID: 3939698 • Views: …
More Releases from Polaris Market Research & Consulting
AI Robot Dog Market Expected to Reach USD 2,760.67 million by 2034 with Strong 1 …
The quantitative market research report published by Polaris Market Research on AI Robot Dog Market aims to educate users with an in-depth understanding of a rapidly growing market. The study details important facts and figures, expert opinions, and major developments across the globe. The research study serves as a vital source of information with the historical data, AI Robot Dog Market size, financial data, and projected future growth. All the…
Automated Storage & Retrieval System (ASRS) Market to Reach USD 20,241.30 millio …
The quantitative market research report published by Polaris Market Research on Automated Storage and Retrieval System (ASRS) Market aims to educate users with an in-depth understanding of a rapidly growing market. The study details important facts and figures, expert opinions, and major developments across the globe. The research study serves as a vital source of information with the historical data, Automated Storage and Retrieval System (ASRS) Market size, financial data,…
Industrial Fasteners Market to Hit USD 146.83 Billion by 2034 at 4.40% CAGR
The quantitative market research report published by Polaris Market Research on Industrial fasteners Market aims to educate users with an in-depth understanding of a rapidly growing market. The study details important facts and figures, expert opinions, and major developments across the globe. The research study serves as a vital source of information with the historical data, Industrial fasteners Market size, financial data, and projected future growth. All the information presented…
Digital Map Market Projected to Reach USD 107.79 Billion by 2034, Growing at 14. …
The quantitative market research report published by Polaris Market Research on Digital Map Market aims to educate users with an in-depth understanding of a rapidly growing market. The study details important facts and figures, expert opinions, and major developments across the globe. The research study serves as a vital source of information with the historical data, Digital Map Market size, financial data, and projected future growth. All the information presented…
More Releases for Heat
Heat Meters Market, Transforming Heat Measurement with Intelligent Metering Solu …
The global heat meters market has become a critical component of modern energy infrastructure as governments, utility companies, and consumers strive for greater accuracy in heat consumption, improved energy efficiency, and transparent billing systems. Heat meters-devices that measure the thermal energy used in residential, commercial, and industrial heating systems-play an essential role in district heating networks, HVAC systems, and renewable heat integration. With rising global emphasis on energy conservation and…
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…
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…
