Air Source Heat Pump Market Growth Trends, Opportunities, Demand Factors and Forecast 2025 to 2031

Market Summary -

The global market for Air Source Heat Pump was estimated to be worth US$ 71029 million in 2024 and is forecast to a readjusted size of US$ 115346 million by 2031 with a CAGR of 7.1% during the forecast period 2025-2031.

Accourding to QY Research has released a new publication titled "Global Air Source Heat Pump Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031." This comprehensive study provides an in-depth evaluation of the worldwide Air Source Heat Pump industry, uncovering the major forces influencing market growth and delivering high-value insights for investors, industry leaders, and strategic decision-makers. The report examines critical elements such as market dynamics, evolving technologies, segmentation trends, regional developments, and the competitive landscape. With data backed by rigorous research and expert interpretation, it offers an authoritative guide to understanding the macroeconomic and microeconomic factors reshaping the global market.

Get Full PDF Sample Copy of the Report: (Including Full TOC, Tables & Charts): https://qyresearch.in/request-sample/machinery-equipment-air-source-heat-pump-market-share-and-ranking-overall-sales-and-demand-forecast-2025-2031

This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Air Source Heat Pump cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.

Air Source Heat Pump (ASHP) is a device which uses a vapor compression cycle to transfer heat between outdoor air and indoor air or water. There are two type of air source heat pumps including air-to-air heat pumps and air-to-water heat pumps. As the name implies, these systems heat or cool indoor air or move energy into water. An air-source heat pump can provide efficient heating and cooling for your home, especially if you live in a warm climate. When properly installed, an air-source heat pump can deliver one-and-a-half to three times more heat energy to a home than the electrical energy it consumes. This is possible because a heat pump moves heat rather than converting it from a fuel, like in combustion heating systems.

Recent Developments -

The authors of the report have put forward recent developments by key participants. Other strategic activities by manufacturers such as M&A, joint ventures, collaborations, innovation, product offerings, and research and development activities are highlighted in this research study. This will keep the users up-to-date about the undertakings and give the users a crystal-clear understanding of the key advancements emerging in the business.

Key Growth Drivers -

Policy Support: -

China's "Action Plan for Promoting High-Quality Development of the Heat Pump Industry" aims to improve heat pump energy efficiency by over 20% by 2030.

The EU's "Green Deal" targets 4 million heat pump installations per year by 2030.

The US Inflation Reduction Act (IRA) offers up to $8,000 in subsidies.

Energy Transition: Global energy price fluctuations are driving the replacement of fossil fuels with heat pumps, with China's northern "coal-to-electricity" projects covering over 10 million households.

Technological Advancements: Breakthroughs in ultra-low-temperature technology (e.g., Fenni operating stably at -41°C) are driving market penetration in northern regions.

Technological Innovation Directions -

Low-Temperature Performance Breakthroughs:

Jet-Enhanced Vapor Injection (EVI) technology extends heating limits to -35°C, with a COP of 2.14 at -20°C.

The Fenni Kirin HP series maintains over 90% heating efficiency at -41°C through bidirectional jet-enhanced vapor injection technology.

Multi-energy complementary systems: -

Photovoltaic-heat pump integration (e.g., Fenni Smart Drive System) achieves "zero-carbon heating," reducing purchased electricity by 60%.

Combining heat pumps with thermal storage tanks addresses grid load fluctuations.

Intelligent upgrades: -

IoT monitoring (e.g., Gree Cloud Control System) enables remote fault alerts, reducing maintenance response time to 30 minutes.

AI algorithms optimize defrosting cycles, improving defrosting efficiency by 30%.

The air-source heat pump industry is currently in a golden period of technological breakthroughs and market expansion. As policy incentives are released, technological costs decline, and application scenarios expand, future competition will focus on three key areas: ultra-low-temperature technology R&D, multi-energy complementary system integration, and intelligent operation and maintenance services. Manufacturers with full-industry-chain integration capabilities (such as Haier, Midea, and Fenni) will dominate the market landscape. The industry should prioritize low-temperature energy efficiency improvements, standardized installation services, and the development of emerging markets to address the opportunities and challenges brought by the energy transition.

Market Segmentation and Regional -

By Type

Air-to-Air
Air-to-Water

By Application

Residential
Commercial
Industrial

Regional Analysis -

✔ North America (U.S., Canada, China)
✔ Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
✔ Asia-Pacific (Japan, South Korea, China Taiwan, Southeast Asia, India)
✔ Middle East, Africa, Latin America (Brazil, Mexico, Turkey, Israel, GCC Countries)

The analysis spans from 2024 (base year) to 2031 (forecast period).

Major Company Included: -

Daikin
Carrier
Midea
Mitsubishi
Hitachi
Bosch
LG Electronics
NIBE Industrier
Fujitsu
Panasonic
Vaillant
GREE Electric
Atlantic
Stiebel Eltron
Rheem
AMITIME
Thermia
Johnson Controls
Aermec
Zhengxu
Maritime Geothermal
Kensa
Calorex
Sirac
Tongyi Electrical

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Why should you purchase this report?

Purchasing this report provides you with a comprehensive and data-driven understanding of the market landscape, enabling informed business decisions and strategic planning. The report comes with free customization based on client requirements, including a country-level breakdown of any five countries of your choice and a competitive analysis of segment revenue by key market players. With detailed insights into market trends, growth drivers, challenges, competitive dynamics, and emerging opportunities, this report equips stakeholders, manufacturers, and investors with actionable intelligence to identify profitable prospects, optimize operations, and maintain a competitive edge in the industry.

How Can the Research Study Help your Business?

✔ The information presented in the Air Source Heat Pump report helps your decision makers to become prudent and make the best business choices.
✔ The report enables you to see the future of the global Air Source Heat Pump market and accordingly take decisions that will be in the best interest of your business.
✔ It offers you a forward-looking perspective of the global Air Source Heat Pump market drivers and how you can secure significant market gains in the near future.
✔ It provides SWOT analysis of the global Air Source Heat Pump market along with useful graphics and detailed statistics providing quick information about the market's overall progress throughout the forecast period.
✔ It also assesses the changing competitive dynamics of the global Air Source Heat Pump market using pin-point evaluation.

Key Questions Answered in the Report -

✔ What is the size and estimated growth rate of the global and regional Air Source Heat Pump market?
✔ Which countries are expected to display the strongest growth?
✔ Which region will dominate the market throughout the forecast period?
✔ What are the main factors driving or restraining market expansion?
✔ What technological advancements are shaping future demand?
✔ Where are the key opportunities for new entrants and established players?
✔ Which companies currently hold the highest market share?
✔ How will market dynamics evolve from 2025 to 2031?

Table of Contents - Major Key Points:

1 Market Overview
1.1 Air Source Heat Pump Product Introduction
1.2 Global Air Source Heat Pump Market Size Forecast
1.2.1 Global Air Source Heat Pump Sales Value (2020-2031)
1.2.2 Global Air Source Heat Pump Sales Volume (2020-2031)
1.2.3 Global Air Source Heat Pump Sales Price (2020-2031)
1.3 Air Source Heat Pump Market Trends & Drivers
1.3.1 Air Source Heat Pump Industry Trends
1.3.2 Air Source Heat Pump Market Drivers & Opportunity
1.3.3 Air Source Heat Pump Market Challenges
1.3.4 Air Source Heat Pump Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Air Source Heat Pump Players Revenue Ranking (2024)
2.2 Global Air Source Heat Pump Revenue by Company (2020-2025)
2.3 Global Air Source Heat Pump Players Sales Volume Ranking (2024)
2.4 Global Air Source Heat Pump Sales Volume by Company Players (2020-2025)
2.5 Global Air Source Heat Pump Average Price by Company (2020-2025)
2.6 Key Manufacturers Air Source Heat Pump Manufacturing Base and Headquarters
2.7 Key Manufacturers Air Source Heat Pump Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of Air Source Heat Pump
2.9 Air Source Heat Pump Market Competitive Analysis
2.9.1 Air Source Heat Pump Market Concentration Rate (2020-2025)
2.9.2 Global 5 and 10 Largest Manufacturers by Air Source Heat Pump Revenue in 2024
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Air Source Heat Pump as of 2024)
2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 Air-to-Air
3.1.2 Air-to-Water
3.2 Global Air Source Heat Pump Sales Value by Type
3.2.1 Global Air Source Heat Pump Sales Value by Type (2020 VS 2024 VS 2031)
3.2.2 Global Air Source Heat Pump Sales Value, by Type (2020-2031)
3.2.3 Global Air Source Heat Pump Sales Value, by Type (%) (2020-2031)
3.3 Global Air Source Heat Pump Sales Volume by Type
3.3.1 Global Air Source Heat Pump Sales Volume by Type (2020 VS 2024 VS 2031)
3.3.2 Global Air Source Heat Pump Sales Volume, by Type (2020-2031)
3.3.3 Global Air Source Heat Pump Sales Volume, by Type (%) (2020-2031)
3.4 Global Air Source Heat Pump Average Price by Type (2020-2031)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Residential
4.1.2 Commercial
4.1.3 Industrial
4.2 Global Air Source Heat Pump Sales Value by Application
4.2.1 Global Air Source Heat Pump Sales Value by Application (2020 VS 2024 VS 2031)
4.2.2 Global Air Source Heat Pump Sales Value, by Application (2020-2031)
4.2.3 Global Air Source Heat Pump Sales Value, by Application (%) (2020-2031)
4.3 Global Air Source Heat Pump Sales Volume by Application
4.3.1 Global Air Source Heat Pump Sales Volume by Application (2020 VS 2024 VS 2031)
4.3.2 Global Air Source Heat Pump Sales Volume, by Application (2020-2031)
4.3.3 Global Air Source Heat Pump Sales Volume, by Application (%) (2020-2031)
4.4 Global Air Source Heat Pump Average Price by Application (2020-2031)
5 Segmentation by Region
5.1 Global Air Source Heat Pump Sales Value by Region
5.1.1 Global Air Source Heat Pump Sales Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global Air Source Heat Pump Sales Value by Region (2020-2025)
5.1.3 Global Air Source Heat Pump Sales Value by Region (2026-2031)
5.1.4 Global Air Source Heat Pump Sales Value by Region (%), (2020-2031)
5.2 Global Air Source Heat Pump Sales Volume by Region
5.2.1 Global Air Source Heat Pump Sales Volume by Region: 2020 VS 2024 VS 2031
5.2.2 Global Air Source Heat Pump Sales Volume by Region (2020-2025)
5.2.3 Global Air Source Heat Pump Sales Volume by Region (2026-2031)
5.2.4 Global Air Source Heat Pump Sales Volume by Region (%), (2020-2031)
5.3 Global Air Source Heat Pump Average Price by Region (2020-2031)
5.4 North America
5.4.1 North America Air Source Heat Pump Sales Value, 2020-2031
5.4.2 North America Air Source Heat Pump Sales Value by Country (%), 2024 VS 2031
5.5 Europe
5.5.1 Europe Air Source Heat Pump Sales Value, 2020-2031
5.5.2 Europe Air Source Heat Pump Sales Value by Country (%), 2024 VS 2031
5.6 Asia Pacific
5.6.1 Asia Pacific Air Source Heat Pump Sales Value, 2020-2031
5.6.2 Asia Pacific Air Source Heat Pump Sales Value by Region (%), 2024 VS 2031
5.7 South America
5.7.1 South America Air Source Heat Pump Sales Value, 2020-2031
5.7.2 South America Air Source Heat Pump Sales Value by Country (%), 2024 VS 2031
5.8 Middle East & Africa
5.8.1 Middle East & Africa Air Source Heat Pump Sales Value, 2020-2031
5.8.2 Middle East & Africa Air Source Heat Pump Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions Air Source Heat Pump Sales Value Growth Trends, 2020 VS 2024 VS 2031
6.2 Key Countries/Regions Air Source Heat Pump Sales Value and Sales Volume
6.2.1 Key Countries/Regions Air Source Heat Pump Sales Value, 2020-2031
6.2.2 Key Countries/Regions Air Source Heat Pump Sales Volume, 2020-2031
6.3 United States
6.3.1 United States Air Source Heat Pump Sales Value, 2020-2031
6.3.2 United States Air Source Heat Pump Sales Value by Type (%), 2024 VS 2031
6.3.3 United States Air Source Heat Pump Sales Value by Application, 2024 VS 2031
6.4 Europe
6.4.1 Europe Air Source Heat Pump Sales Value, 2020-2031
6.4.2 Europe Air Source Heat Pump Sales Value by Type (%), 2024 VS 2031
6.4.3 Europe Air Source Heat Pump Sales Value by Application, 2024 VS 2031
6.5 China
6.5.1 China Air Source Heat Pump Sales Value, 2020-2031
6.5.2 China Air Source Heat Pump Sales Value by Type (%), 2024 VS 2031
6.5.3 China Air Source Heat Pump Sales Value by Application, 2024 VS 2031
6.6 Japan
6.6.1 Japan Air Source Heat Pump Sales Value, 2020-2031
6.6.2 Japan Air Source Heat Pump Sales Value by Type (%), 2024 VS 2031
6.6.3 Japan Air Source Heat Pump Sales Value by Application, 2024 VS 2031
6.7 South Korea
6.7.1 South Korea Air Source Heat Pump Sales Value, 2020-2031
6.7.2 South Korea Air Source Heat Pump Sales Value by Type (%), 2024 VS 2031
6.7.3 South Korea Air Source Heat Pump Sales Value by Application, 2024 VS 2031
6.8 Southeast Asia
6.8.1 Southeast Asia Air Source Heat Pump Sales Value, 2020-2031
6.8.2 Southeast Asia Air Source Heat Pump Sales Value by Type (%), 2024 VS 2031
6.8.3 Southeast Asia Air Source Heat Pump Sales Value by Application, 2024 VS 2031
6.9 India
6.9.1 India Air Source Heat Pump Sales Value, 2020-2031
6.9.2 India Air Source Heat Pump Sales Value by Type (%), 2024 VS 2031
6.9.3 India Air Source Heat Pump Sales Value by Application, 2024 VS 2031
7 Company Profiles
7.1 Daikin
7.1.1 Daikin Company Information
7.1.2 Daikin Introduction and Business Overview
7.1.3 Daikin Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.1.4 Daikin Air Source Heat Pump Product Offerings
7.1.5 Daikin Recent Development
7.2 Carrier
7.2.1 Carrier Company Information
7.2.2 Carrier Introduction and Business Overview
7.2.3 Carrier Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.2.4 Carrier Air Source Heat Pump Product Offerings
7.2.5 Carrier Recent Development
7.3 Midea
7.3.1 Midea Company Information
7.3.2 Midea Introduction and Business Overview
7.3.3 Midea Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.3.4 Midea Air Source Heat Pump Product Offerings
7.3.5 Midea Recent Development
7.4 Mitsubishi
7.4.1 Mitsubishi Company Information
7.4.2 Mitsubishi Introduction and Business Overview
7.4.3 Mitsubishi Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.4.4 Mitsubishi Air Source Heat Pump Product Offerings
7.4.5 Mitsubishi Recent Development
7.5 Hitachi
7.5.1 Hitachi Company Information
7.5.2 Hitachi Introduction and Business Overview
7.5.3 Hitachi Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.5.4 Hitachi Air Source Heat Pump Product Offerings
7.5.5 Hitachi Recent Development
7.6 Bosch
7.6.1 Bosch Company Information
7.6.2 Bosch Introduction and Business Overview
7.6.3 Bosch Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.6.4 Bosch Air Source Heat Pump Product Offerings
7.6.5 Bosch Recent Development
7.7 LG Electronics
7.7.1 LG Electronics Company Information
7.7.2 LG Electronics Introduction and Business Overview
7.7.3 LG Electronics Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.7.4 LG Electronics Air Source Heat Pump Product Offerings
7.7.5 LG Electronics Recent Development
7.8 NIBE Industrier
7.8.1 NIBE Industrier Company Information
7.8.2 NIBE Industrier Introduction and Business Overview
7.8.3 NIBE Industrier Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.8.4 NIBE Industrier Air Source Heat Pump Product Offerings
7.8.5 NIBE Industrier Recent Development
7.9 Fujitsu
7.9.1 Fujitsu Company Information
7.9.2 Fujitsu Introduction and Business Overview
7.9.3 Fujitsu Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.9.4 Fujitsu Air Source Heat Pump Product Offerings
7.9.5 Fujitsu Recent Development
7.10 Panasonic
7.10.1 Panasonic Company Information
7.10.2 Panasonic Introduction and Business Overview
7.10.3 Panasonic Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.10.4 Panasonic Air Source Heat Pump Product Offerings
7.10.5 Panasonic Recent Development
7.11 Vaillant
7.11.1 Vaillant Company Information
7.11.2 Vaillant Introduction and Business Overview
7.11.3 Vaillant Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.11.4 Vaillant Air Source Heat Pump Product Offerings
7.11.5 Vaillant Recent Development
7.12 GREE Electric
7.12.1 GREE Electric Company Information
7.12.2 GREE Electric Introduction and Business Overview
7.12.3 GREE Electric Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.12.4 GREE Electric Air Source Heat Pump Product Offerings
7.12.5 GREE Electric Recent Development
7.13 Atlantic
7.13.1 Atlantic Company Information
7.13.2 Atlantic Introduction and Business Overview
7.13.3 Atlantic Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.13.4 Atlantic Air Source Heat Pump Product Offerings
7.13.5 Atlantic Recent Development
7.14 Stiebel Eltron
7.14.1 Stiebel Eltron Company Information
7.14.2 Stiebel Eltron Introduction and Business Overview
7.14.3 Stiebel Eltron Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.14.4 Stiebel Eltron Air Source Heat Pump Product Offerings
7.14.5 Stiebel Eltron Recent Development
7.15 Rheem
7.15.1 Rheem Company Information
7.15.2 Rheem Introduction and Business Overview
7.15.3 Rheem Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.15.4 Rheem Air Source Heat Pump Product Offerings
7.15.5 Rheem Recent Development
7.16 AMITIME
7.16.1 AMITIME Company Information
7.16.2 AMITIME Introduction and Business Overview
7.16.3 AMITIME Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.16.4 AMITIME Air Source Heat Pump Product Offerings
7.16.5 AMITIME Recent Development
7.17 Thermia
7.17.1 Thermia Company Information
7.17.2 Thermia Introduction and Business Overview
7.17.3 Thermia Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.17.4 Thermia Air Source Heat Pump Product Offerings
7.17.5 Thermia Recent Development
7.18 Johnson Controls
7.18.1 Johnson Controls Company Information
7.18.2 Johnson Controls Introduction and Business Overview
7.18.3 Johnson Controls Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.18.4 Johnson Controls Air Source Heat Pump Product Offerings
7.18.5 Johnson Controls Recent Development
7.19 Aermec
7.19.1 Aermec Company Information
7.19.2 Aermec Introduction and Business Overview
7.19.3 Aermec Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.19.4 Aermec Air Source Heat Pump Product Offerings
7.19.5 Aermec Recent Development
7.20 Zhengxu
7.20.1 Zhengxu Company Information
7.20.2 Zhengxu Introduction and Business Overview
7.20.3 Zhengxu Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.20.4 Zhengxu Air Source Heat Pump Product Offerings
7.20.5 Zhengxu Recent Development
7.21 Maritime Geothermal
7.21.1 Maritime Geothermal Company Information
7.21.2 Maritime Geothermal Introduction and Business Overview
7.21.3 Maritime Geothermal Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.21.4 Maritime Geothermal Air Source Heat Pump Product Offerings
7.21.5 Maritime Geothermal Recent Development
7.22 Kensa
7.22.1 Kensa Company Information
7.22.2 Kensa Introduction and Business Overview
7.22.3 Kensa Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.22.4 Kensa Air Source Heat Pump Product Offerings
7.22.5 Kensa Recent Development
7.23 Calorex
7.23.1 Calorex Company Information
7.23.2 Calorex Introduction and Business Overview
7.23.3 Calorex Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.23.4 Calorex Air Source Heat Pump Product Offerings
7.23.5 Calorex Recent Development
7.24 Sirac
7.24.1 Sirac Company Information
7.24.2 Sirac Introduction and Business Overview
7.24.3 Sirac Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.24.4 Sirac Air Source Heat Pump Product Offerings
7.24.5 Sirac Recent Development
7.25 Tongyi Electrical
7.25.1 Tongyi Electrical Company Information
7.25.2 Tongyi Electrical Introduction and Business Overview
7.25.3 Tongyi Electrical Air Source Heat Pump Sales, Revenue, Price and Gross Margin (2020-2025)
7.25.4 Tongyi Electrical Air Source Heat Pump Product Offerings
7.25.5 Tongyi Electrical Recent Development
8 Industry Chain Analysis
8.1 Air Source Heat Pump Industrial Chain
8.2 Air Source Heat Pump Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 Air Source Heat Pump Sales Model
8.5.2 Sales Channel
8.5.3 Air Source Heat Pump Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer

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