Press release
Heat Pump Coil Market Set for 9.2% CAGR Growth Through 2035: New Insights from Meticulous Research®
According to the new analysis from Meticulous Research®, the global heat pump coil market was valued at USD 3.8 billion in 2024 and is projected to rise to USD 4.14 billion in 2025, eventually reaching USD 9.97 billion by 2035. This represents a CAGR of 9.2% during the forecast period from 2025 to 2035.
This robust growth reflects the increasing adoption of energy-efficient heating and cooling technologies, strong government push toward electrification and decarbonization, and rising demand from both residential and commercial construction sectors.
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Energy Efficiency Driving Market Growth
Heat pumps are gaining widespread adoption due to their exceptional energy efficiency. With a coefficient of performance (COP) between 3 and 5, they generate three to five times more energy than they consume, far outperforming conventional heating systems. According to the International Energy Agency, global heat pump sales rose 11% in 2023, surpassing 20 million units sold worldwide. Supportive government policies are further accelerating demand-Europe's REPowerEU initiative targets 10 million new installations between 2023 and 2027, while the U.S. Inflation Reduction Act offers homeowners tax credits of up to $2,000 for new heat pump installations.
Advancements in Coil Technology
Technological innovation is transforming heat pump coil performance. Microchannel aluminum coils offer up to 30% higher heat transfer efficiency and require 50% less refrigerant compared to traditional fin-and-tube coils. Modern manufacturing processes-including brazing and laser welding-enable more compact, durable, and efficient coil designs. Enhanced surface coatings also play a key role: hydrophilic layers improve moisture management, while anti-corrosion treatments extend coil lifespan. Many manufacturers now offer extended warranties of 5 to 7 years, particularly valuable in coastal or industrial environments.
Growing Adoption in Cold Climates
New cold-climate heat pump systems are engineered to maintain strong heating performance even in extreme conditions, operating reliably at temperatures as low as -25°C. This capability has opened significant opportunities in northern regions. For example, over 60% of households in Norway now use heat pumps despite its long, harsh winters. Advanced coil technologies-such as variable refrigerant flow systems and improved defrost mechanisms-are essential to ensuring consistent efficiency and performance in sub-zero temperatures.
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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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