“The integration of heat pump water heater with IoT helps in tracking abnormalities in heat pump water heaters, thus reducing system failure. Thus, the integration is expected to provide profitable opportunities for heat pump water heater market growth during the forecast period,” says an analyst at Fact .MR
/EIN News/ – US, Rockville MD, August 4, 2022 (GLOBE NEWSWIRE) – The global heat pump water heater market was valued at $1.4 billion in fiscal year 2021, to reach $1.6 billion in 2022, according to a research study. For Market was recently published by Fact.MR. During the forecast period from 2022 to 2032, the market is poised to rise at a compound annual growth rate of 6.8%, concluding with a valuation of $3.08 billion. The use of air, water or geothermal heat to generate hot water is one of the outstanding features offered by heat pump water heaters, which in turn will raise the expectations of its industry in the coming years.
Demand for heat pump water heaters has increased, registering a compound annual growth rate of 2.0% from 2017 to 2021. Stringent government regulations and policies to limit emissions from HVAC equipment across the residential and commercial sectors will increase product penetration. Governments across key regions including North America and Asia Pacific are adjusting heating and cooling equipment across buildings to meet their emissions targets, which will further advance technology advancement.
For important insights into this market, request more information at:
The growing need for sustainable technologies from the residential sector will enhance product requirements. The majority of governments around the world are implementing various policies and schemes to promote the distribution of clean technologies in the residential and commercial sectors, leading to improved technology awareness. In addition, strict emissions rules and regulations will force manufacturers to install energy-saving and renewable technologies, and stimulate demand in the heat pump water heater market.
The main takeaway from the market study
- Global Heat Pump Water Heater Market Growth Doubles To 2032
- By application, residential applications will achieve maximum growth, at a compound annual growth rate of 4.8% through 2032
- US to be an opportunistic market for heat pump water heaters, generating 30.5% of revenue in 2022
- To be one of the most opportunistic markets across the Asia Pacific region, with revenue of 17.8% in 2022
Penetration into new geographies, collaboration with government agencies or service providers and rebranding initiatives include some of the key strategies adopted by prominent heat pump water heater service providers. Some of the notable developments in the market are as follows:
- In August 2020, Panasonic Corporation partnered with Systemair on technology to launch heating and cooling products to provide its customers with more choices for HVAC products, including heat pumps. Both companies will have separate sales channels and brands for these products.
- In August 2020, Bosch Thermotechnology launched the Bosch Tronic 3000, a line of instant electric water heaters that dramatically reduce hot water wait times in light commercial applications. The new series, which includes four new types, represents the first stage in the range of new dynamic instantaneous electric water heaters from Bosch.
- In July 2020, Daikin launched the Daikin SmartSource, a dedicated Outdoor Air System (DOAS) heat pump system that enables efficient and cost-effective cooling and heating in all conditions using 100% pure outdoor air. It also taps the hot gas reheat coil of the water source heat pump as well as the unit’s primary DX coil; To enhance the efficiency of the heat pump.
To gain in-depth insights about Heat pump water heaters marketdemand methodology in
Analysis by category
Based on the application, Fact.MR has forecast that heat pump water heaters for residential applications will be in more demand yet. According to the report, the sector is expected to witness a compound annual growth rate of 4.8% during the assessment period 2022-2032. Increasing urbanization in developing countries has complemented the construction of new residential buildings, prompting the need for energy-efficient HVAC systems.
Heat pump water heater providers such as HoCoSto, Nostromo, and Malta Inc. And Inficold, Stash Energy, Nexol Photovoltermic, OffGridBox, Gelsons Corporate, and Solar Water Solutions, among others, offer various marketing strategies such as new product launches, geographic expansion, mergers, acquisitions, partnerships and collaborations to identify potential buyers’ interests and create a larger customer base. for example,
- In June 2022, BotswineLtd., which specializes in energy storage in buildings, has signed an agreement with Clalit Group’s Soroka University Medical Center to install an energy storage system – the first to be installed in a hospital in Israel. The system will be installed in the energy center after being renovated in the hospital operating rooms.
- The collaboration between the two bodies was created as part of the Zero Carbon Hospital Challenge to promote energy efficiency solutions and reduce carbon emissions at Soroka Medical Center, held at the initiative of the HealthIL community and the climate change community PLANETech.
Major Segments Covered in Heat Pump Water Heater Market Report
- by Request :
- Residential applications
- one family
- several families
- commercial applications
- Residential applications
- by Eligibility:
- less than 50 gallons
- 50-100 gallons
- 00-200 gallons
- over 200 gallons
- by region :
- North Amarica
- Latin america
- Asia Pacific
- Middle East and Africa
Interested in getting data? Inquire here
More insights available
In its new presentation, Fact.MR provides an unbiased analysis of the global heat pump water heaters market, providing historical analysis from 2017 to 2021 and forecast statistics for the period 2022 to 2032.
The study reveals key insights based on application (residential and commercial), and capacity (under 50 gallons, 50-100 gallons, 100-200 gallons, and over 200 gallons) across five major regions (North America, Latin America, Europe and Asia Pacific). Middle East and Africa).
Fact.MR field of knowledge in industrial goods
Our Industrial Goods Consulting team guides organizations at every step of their business strategy by helping you understand how the newest influencers account for operational and strategic transformation in the Industrial Goods sector. Our experience in recognizing the challenges and trends affecting the global industrial goods industry provides indispensable insights and support – encapsulating a strategic perspective that helps you identify critical issues and devise appropriate solutions.
explore Reality cover on industrial goods specialization-
Carbon Fiber Market – Carbon fiber consumption in the aerospace and defense industry is expected to grow rapidly at a compound annual growth rate of 10.3%. Government organizations are investing huge sums in the aerospace and defense industry, which increases the demand for carbon fibers across regions.
Resilient Flooring Market – Based on the above forecasts, the Fact.MR report predicts that the global resilient flooring industry will grow at a compound annual growth rate of approximately 7% through 2031, surpassing a valuation of over US$14 billion by the end of the evaluation period.
Ammunition Market Demand is primarily driven by increased defense spending to counter external aggression. Another driving factor for ammunition manufacturers is the development of lightweight bullets with polymer casings.
Personal Protective Equipment Market – According to Fact.MR, a market research and competitive intelligence provider, the Personal Protective Equipment market grew at a CAGR of 4.8% from 2015 to 2021. The adoption of stringent worker safety regulatory frameworks has expanded the personal protective equipment market.
Construction Equipment Rental Market – Demand for Earth-moving Materials It will continue to thrive, with a documented compound annual growth rate of 5% during the 2015-2022 assessment historical period, while demand for material handling machinery has spread at a rate of 5.1% over the same period. China will dominate the global market, recording a growth opportunity of US$90 billion from 2022 to 2032.
Brushless DC Motors Market – Worldwide Brushless DC Motors Market was valued at USD 18 Billion in 2021 and is expected to grow at a CAGR of 6.3% during the forecast period from 2022 to 2032. As of 2022, The industry is also expected to be worth $19 billion, representing a year-on-year increase of 5.5%.
Air purifiers market – Demand is particularly strong for HEPA filtered air purifiers, while activated carbon filter and UV based purifiers are also growing. The demand for activated carbon filter air purifiers, as well as the demand for ionic filter air purifiers, is increasing across regions.
Portable Generators Market – The global portable generators market is expected to be valued at USD 850 million in 2021 and is expected to reach USD 1.5 billion by 2031, registering a compound annual growth rate of 6.5% during the forecast period 2021-2031.
Gardening Equipment Market – The growth in demand and sales can be attributed to the technological developments taking place in the industry. Lawn mowers, lawn aerators, and power tools are gardening equipment that runs on either electricity or fuel, therefore, efficiency is what consumers strive for.
Non-Destructive Testing Market – The Non-Destructive Testing (NDT) Market was valued at US$8.5 billion by the end of 2021 and expected to reach US$15.2 billion by 2031, at a compound annual growth rate of 6% over the forecast period 2021-2031 Projected That the manufacturing sector accounts for 20% of non-destructive testing revenue.
information about us:
Market research and consulting agency with a difference! This is why 80% of Fortune 1,000 companies trust us to make their most important decisions. While our experienced consultants use the latest technology to extract hard-to-find insights, we believe our USP is clients’ trust in our expertise. Our coverage spans a wide range – from Automotive and Industry 4.0 to Healthcare and Retail, but we ensure analysis of even the most specialized categories. Our sales offices are in the United States and Dublin, Ireland. Headquarters in Dubai, United Arab Emirates. Reach out to us with your goals, and we’ll be a capable partner in your search.
US sales office:
11140 Rockville Pike
400 . suite
Rockville, MD 20852
Email: [email protected]
Tel: +1 (628) 251-158