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Report Highlights
The global market for heat pumps was valued at $88.4 billion in 2024 and is estimated to increase from $93.2 billion in 2025 to reach $134.8 billion by 2030, at a compound annual growth rate (CAGR) of 7.7% from 2025 through 2030.
Report Includes
- 113 data tables and 66 additional tables
- An overview of the global market for heat pumps
- An analysis of the global market trends, with market revenue data from 2024, 2025, forecasts for 2029, and projected CAGRs through 2030
- An evaluation of the current and future market potential, and quantification of the market by type, rated capacity, end user, and region
- In-depth facts and figures pertaining to the major factors influencing the progress of the market (drivers, restraints, opportunities, and industry-specific challenges)
- Discussion of commercialization challenges and how to overcome them
- ESG trends in the industry
- Analysis of the key companies’ market shares, proprietary technologies, strategic alliances, and patent portfolios
- Company profiles of major players within the industry, including Carrier, Daikin Industries Ltd., Johnson Controls, LG Electronics, and Trane Technologies
Report Scope
In this report, the global market for heat pumps is segmented and analyzed by type, rated capacity, end user and region. The market size is provided in value ($ millions) and volume (1,000 units). A chapter on competitive intelligence covers the market shares of leading companies based on their product offerings and revenues generated from heat pumps. It also discusses market dynamics, emerging technologies and global developments.
Also discussed are emerging trends, technological advances, economic forces and technical standards. The report also includes a Porter’s Five Forces analysis and a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis. The report also discusses the technical and commercial aspects of heat pump installation in residential, commercial, and industrial end-user segments. The report outlines the regulations and policies in different countries governing heat pump installation to ensure environmental sustainability and regulatory compliance. ESG factors are also analyzed.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2024 | ||||||||||||||||
| Forecast period considered | 2025-2030 | ||||||||||||||||
| Base year market size | $88.4 billion | ||||||||||||||||
| Market size forecast | $134.8 billion | ||||||||||||||||
| Growth rate | CAGR of 7.7% for the forecast period of 2025-2030 | ||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||
| Segments covered | Type, Rating Capacity, End User | ||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, South America, Middle East and Africa | ||||||||||||||||
| Countries covered | U.S., Canada, Mexico, France, Germany, Spain, Italy, Sweden, Norway, Netherlands, Finland, Poland, China, India, Japan, South Korea, Australia, Thailand, Singapore, Vietnam, Brazil, Chile, Argentina, Colombia, Paraguay, Peru, UAE, Saudi Arabia, South Africa, Iraq, Iran, Oman | ||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Report Highlights
The global market for heat pumps should grow from $60.4 billion in 2021 to $96.7 billion by 2026, at compound annual growth rate (CAGR) of 9.9% for the period of 2021-2026.
Report Includes
- 91 data tables and 58 additional tables
- An up-to-date analysis of current and future global markets for heat pump within the industry
- Analyses of the global market trends, with data from 2020, estimates for 2021, and projections of compound annual growth rates (CAGRs) through 2026
- Estimation of the market size (in value and volumetric terms) and revenue forecast (in USD) for global heat pump markets, and their corresponding market share analysis by type, rated capacity, end user industry and geography
- In-depth information (facts and figures) concerning the major factors influencing the progress of the market (drivers, restraints, opportunities, and industry-specific challenges) with respect to specific growth trends, upcoming prospects and contributions to the overall market
- Country specific data and analysis for the heat pump market featuring China, Japan, India, South Korea, the U.S., Canada, Mexico, France, Germany, Italy, Spain, Brazil, Chile, Argentina, the UAE, Saudi Arabia and South Africa
- Impact of COVID-19 on the progress of global heat pump market, and pandemic implications on heat pump manufacturing and supply chains industry
- Insight into the list of global market players operating; their key competitive landscape and company share analysis
- Assessment of the competitive developments such as joint ventures, mergers and acquisitions, new product development, expansions, impact of government regulations and R&D activities in the global heat pump market
- Company profiles descriptions of the leading market participants, including AAON Inc., Daikin Industries Ltd., Hitachi Ltd., Mitsubishi Electric Corp., and Panasonic Corp.
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