Press release
Heat Pump Coil Market to Skyrocket to $10B by 2035 at 9% CAGR
According to this latest publication from Meticulous Research®, The Heat Pump Coil Market was valued at USD 3.8 billion in 2024 and is projected to reach around USD 4.14 billion in 2025, growing further to about USD 9.97 billion by 2035, at a CAGR of 9.2% during the forecast period from 2025 to 2035. The global heat pump coil market reached $3.8 billion in 2024. It is expected to grow from $4.14 billion in 2025 to $9.97 billion by 2035, with a CAGR of 9.2%. This growth shows the increasing use of energy-efficient heating and cooling solutions, government electrification efforts, and rising demand in residential and commercial construction.
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Energy Efficiency Driving Adoption:
Heat pumps have a coefficient of performance between 3 and 5, producing 3 to 5 times more energy than they use. They significantly outperform traditional heating systems. The International Energy Agency reports an 11% global increase in heat pump sales during 2023, with over 20 million units sold worldwide. Government policies encourage adoption. The EU's REPowerEU plan aims for 10 million new installations from 2023 to 2027. Meanwhile, the U.S. Inflation Reduction Act offers up to $2,000 in tax credits for installations.
Technological Innovation:
Microchannel aluminum coils provide 30% better heat transfer efficiency than traditional fin-and-tube designs and use 50% less refrigerant. New manufacturing techniques, such as brazing and laser welding, allow for compact and efficient designs. Improved surface coatings enhance durability; hydrophilic coatings manage moisture while anti-corrosion treatments extend coil life. Some manufacturers provide 5 to 7 year warranty extensions for advanced coils, which is especially beneficial for coastal and industrial applications.
Cold Climate Expansion:
Modern cold climate heat pumps maintain their heating capacity at temperatures as low as -25°C, allowing them to enter northern markets. In Norway, over 60% of households use them despite harsh winters. Advanced coil designs that feature variable refrigerant flow and improved defrosting capabilities are essential for performance in cold climates.
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Market Segmentation and Regional Leadership:
Copper-aluminum coils hold 40% to 50% of the market share, balancing heat transfer efficiency with cost. The residential segment leads with a 50% to 55% share, driven mainly by single-family homes and retrofit opportunities. Europe accounts for 30% to 40% of the global market share, while Asia-Pacific shows the highest growth at an 11.1% CAGR, primarily due to production and consumption in China.
Competitive Landscape:
The market has a variety of players competing on efficiency, durability, and customization. Global manufacturers include Modine Manufacturing Company (USA), Lennox International Inc. (USA), Johnson Controls International (USA), Carrier Global Corporation (USA), and Daikin Industries (Japan). Specialized suppliers are EVAPCO Inc. (USA), Colmac Coil Manufacturing (USA), Super Radiator Coils (USA), Luvata (Finland), and Shanghai Shenglin M&E Technology (China). Regional leaders are Kelvion Holdings GmbH (Germany), Stefani S.p.A. (Italy), Roller Group (Italy), Blue Star Limited (India), and Thermokey S.p.A. (Italy). Emerging players include Kaltra (Germany), Coilmaster Corporation (USA), Capital Coil & Air (USA), Fridgehub (China), and HC Coils Limited (UK).
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Key Questions Answered in this Report:
What is the size of the heat pump coil market, and at what CAGR is this market projected to grow during 2025-2035?
Which material segment is projected to hold the major share of the heat pump coil market?
Which application segment is slated to record the highest growth rate?
Related Reports:
Ductless Heat Pumps Market: https://www.meticulousresearch.com/product/ductless-heat-pumps-market-6268
Rotary Heat Pump Compressor Market: https://www.meticulousresearch.com/product/rotary-heat-pump-compressor-market-6204
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Each year, we conduct over 300 syndicated studies and manage 60+ consulting engagements across eight key industry sectors and 20+ geographic markets. With a focus on solving the complex challenges facing global business leaders, our research enables informed decision-making that propels sustainable growth and operational excellence. We are dedicated to delivering high-impact solutions that transform business performance and fuel innovation in the competitive global marketplace.
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