Residential Heat Pump Market Size, Share & Trends Analysis Report By Technology (Air to Air, Water Source), By Power Source (Electric Powered, Gas Powered), By Region, And Segment Forecasts, 2019 - 2025

Published: Sep, 2019 | Pages: 80 | Publisher: Grand View Research
Industry: Consumer Goods | Report Format: Electronic (PDF)

The global residential heat pumps market size is expected to reach USD 17.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.5% over the forecast period. Rising spending on construction of new environmental friendly buildings in order to cut down the greenhouse gas emissions is expected to be a key driver for the market. In addition, consumers are increasingly adopting these eco-friendly, cost-effective, and sustainable HVAC solutions on account of their shifting inclination towards renovation, along with introduction of technologically advanced HVAC infrastructure in home.

Energy produced around the globe is primarily used for heating and cooling in buildings around the globe. The governments have been focusing on reducing the burden of carbon footprints across the globe, which leads to climate change, by eliminating the wide use of fossil fuels in generating energy and other related purposes. In addition, they are framing stringent policies and regulations for cutting down the greenhouse gas emissions through various initiatives such as offering incentives for installing heat pumps in the houses.

For instance, the governments of various countries including U.S., Japan, Australia, and some European countries are providing subsidies for installation of heat pumps in order to cut down the carbon footprints. Moreover, it helps encouraging and promoting the consumers to adopt renewable energy for heating and cooling.

The air to air technology segment held the largest share of more than 60.0% in 2018 owing to its less requirement of energy, along with higher output. Air sourced heat pumps can usually deliver around three times more heat energy than the amount of electricity they consume. For instance, in June 2017, Stiebel Eltron, introduced its one of its popular WPL air source heat pumps in a plug and play version. This pump has various qualities such as modern compact design and active cooling.

Asia Pacific was the largest market for residential heat pump, accounting for more than 40.0% share of the global revenue in 2018. The growth is attributed to increasing step towards adoption of clean energy by the governments of various countries including China, Japan, and South Korea. Additionally, growing middle-income population in developing countries including China and India has been playing a crucial role in increasing the spending on new residential structures, which, in turn, will promote the utility of various residential heat pumps over the next few years.

Further key findings from the report suggest:

• By technology, water source residential heat pumps are expected to expand at a CAGR of 11.5% from 2019 to 2025

• Europe is expected to be the fastest growing market, expanding at a CAGR of 12.2% for 2019 to 2025 as a result of increasing awareness regarding global warming in key countries including Germany, U.K., and France

• Key players in residential heat pumps market include Daikin Industries, Ltd., Emerson Electric Co., Carrier Corporation, Vaillant Group, Mitsubishi Electric Corporation, Robert Bosch LLC, Trane, Viessmann Limited, Nortek Global HVAC LLC, and GLEN DIMPLEX GROUP

• Product innovation is expected to remain a key strategy among the industry participants.

 Table of Contents

Chapter 1. Methodology and Scope
                  1.1. Market Segmentation & Scope
                  1.2. Market Definition
                  1.3. Information Procurement
                      1.3.1. Purchased Database
                      1.3.2. GVR's Internal Database
                      1.3.3. Secondary Sources & Third-Party Perspectives
                      1.3.4. Primary Research
                  1.4. Information Analysis
                      1.4.1. Data Analysis Models
                  1.5. Market Formulation & Data Visualization
                  1.6. Data Validation & Publishing
Chapter 2. Executive Summary
                  2.1. Market Outlook
                  2.2. Segmental Outlook
                  2.3. Competitive Insights
Chapter 3. Residential Heat Pumps Market Variables, Trends & Scope
                  3.1. Market Introduction
                  3.2. Penetration & Growth Prospect Mapping
                  3.3. Industry Value Chain Analysis
                      3.3.1. Sales/Retail Channel Analysis
                      3.3.2. Profit Margin Analysis
                  3.4. Market Dynamics
                      3.4.1. Market Driver Analysis
                      3.4.2. Market Restraint Analysis
                      3.4.3. Industry Challenges
                      3.4.4. Industry Opportunities
                  3.5. Business Environment Analysis
                      3.5.1. Industry Analysis - Porter's
                          3.5.1.1. Supplier Power
                          3.5.1.2. Buyer Power
                          3.5.1.3. Substitution Threat
                          3.5.1.4. Threat from New Entrant
                          3.5.1.5. Competitive Rivalry
                  3.6. Roadmap of Residential Heat Pumps Market
                  3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
                  4.1. Consumer Trends and Preferences
                  4.2. Factors Affecting Buying Decision
                  4.3. Consumer Application Adoption
                  4.4. Observations & Recommendations
Chapter 5. Residential Heat Pumps Market: Technology Estimates & Trend Analysis
                  5.1. Technology Movement Analysis & Market Share, 2018 & 2025
                  5.2. Air to Air
                      5.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                  5.3. Water Source
                      5.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                  5.4. Others
                      5.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
Chapter 6. Residential Heat Pumps Market: Power Source Estimates & Trend Analysis
                  6.1. Power Source Movement Analysis & Market Share, 2018 & 2025
                  6.2. Electric Powered
                      6.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                  6.3. Gas Powered
                      6.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                  6.4. Others
                      6.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
Chapter 7. Residential Heat Pumps Market: Regional Estimates & Trend Analysis
                  7.1. Regional Movement Analysis & Market Share, 2018 & 2025
                  7.2. North America
                      7.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                      7.2.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                      7.2.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                      7.2.4. U.S.
                          7.2.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                          7.2.4.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                          7.2.4.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                  7.3. Europe
                      7.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                      7.3.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                      7.3.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                      7.3.4. Germany
                          7.3.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                          7.3.4.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                          7.3.4.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                      7.3.5. Sweden
                          7.3.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                          7.3.5.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                          7.3.5.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                      7.3.6. France
                          7.3.6.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                          7.3.6.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                          7.3.6.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                  7.4. Asia Pacific
                      7.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                      7.4.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                      7.4.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                      7.4.4. China
                          7.4.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                          7.4.4.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                          7.4.4.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                      7.4.5. Japan
                          7.4.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                          7.4.5.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                          7.4.5.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                      7.4.6. South Korea
                          7.4.6.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                          7.4.6.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                          7.4.6.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                  7.5. Central & South America
                      7.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                      7.5.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                      7.5.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                  7.6. Middle East & Africa (MEA)
                      7.6.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                      7.6.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                      7.6.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
                      7.6.4. Saudi Arabia
                          7.6.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
                          7.6.4.2. Market estimates and forecast, by technology, 2015 - 2025 (USD Million)
                          7.6.4.3. Market estimates and forecast, by power source, 2015 - 2025 (USD Million)
Chapter 8. Competitive Analysis
                  8.1. Key global players, recent developments & their impact on the industry
                  8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
                  8.3. Vendor Landscape
                      8.3.1. Key company market share analysis, 2018
Chapter 9. Company Profiles
                  9.1. Daikin Industries, Ltd.
                      9.1.1. Company Overview
                      9.1.2. Financial Performance
                      9.1.3. Technology Benchmarking
                      9.1.4. Strategic Initiatives
                  9.2. Emerson Electric Co.
                      9.2.1. Company Overview
                      9.2.2. Financial Performance
                      9.2.3. Technology Benchmarking
                      9.2.4. Strategic Initiatives
                  9.3. Carrier Corporation
                      9.3.1. Company Overview
                      9.3.2. Financial Performance
                      9.3.3. Technology Benchmarking
                      9.3.4. Strategic Initiatives
                  9.4. Vaillant Group
                      9.4.1. Company Overview
                      9.4.2. Financial Performance
                      9.4.3. Technology Benchmarking
                      9.4.4. Strategic Initiatives
                  9.5. Mitsubishi Electric Corporation
                      9.5.1. Company Overview
                      9.5.2. Financial Performance
                      9.5.3. Technology Benchmarking
                      9.5.4. Strategic Initiatives
                  9.6. Robert Bosch LLC
                      9.6.1. Company Overview
                      9.6.2. Financial Performance
                      9.6.3. Technology Benchmarking
                      9.6.4. Strategic Initiatives
                  9.7. Trane
                      9.7.1. Company Overview
                      9.7.2. Financial Performance
                      9.7.3. Technology Benchmarking
                      9.7.4. Strategic Initiatives
                  9.8. Viessmann Limited
                      9.8.1. Company Overview
                      9.8.2. Financial Performance
                      9.8.3. Technology Benchmarking
                      9.8.4. Strategic Initiatives
                  9.9. Nortek Global HVAC LLC
                      9.9.1. Company Overview
                      9.9.2. Financial Performance
                      9.9.3. Technology Benchmarking
                      9.9.4. Strategic Initiatives
                  9.10. GLEN DIMPLEX GROUP
                      9.10.1. Company Overview
                      9.10.2. Financial Performance
                      9.10.3. Technology Benchmarking
                      9.10.4. Strategic Initiatives

List of Tables

1. Residential heat pumps - Key market driver analysis
2. Residential heat pumps - Key market restraint analysis
3. Global air to air residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
4. Global water source residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
5. Global others residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
6. Global electric powered residential heat pumps market estimates and forecast, by online, 2015 - 2025 (USD Million)
7. Global gas powered residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
8. Global others powered residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
9. North America residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
10. North America residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
11. North America residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
12. U.S. residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
13. U.S. residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
14. U.S. residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
15. Europe residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
16. Europe residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
17. Europe residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
18. Germany residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
19. Germany residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
20. Germany residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
21. Sweden residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
22. Sweden residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
23. Sweden residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
24. France residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
25. France residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
26. France residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
27. Asia Pacific residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
28. Asia Pacific residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
29. Asia Pacific residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
30. China residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
31. China residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
32. China residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
33. Japan residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
34. Japan residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
35. Japan residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
36. South Korea residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
37. South Korea residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
38. South Korea residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
39. Central & South America residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
40. Central & South America Residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
41. Central & South America residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
42. Middle East & Africa residential heat pumps market estimates and forecast, 20145- 2025 (USD Million)
43. Middle East & Africa residential heat pumps market revenue estimates and forecast by technology 2015- 2025 (USD Million)
44. Middle East & Africa residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
45. Saudi Arabia residential heat pumps market estimates and forecast, 2015 - 2025 (USD Million)
46. Saudi Arabia residential heat pumps market revenue estimates and forecast by technology, 2015 - 2025 (USD Million)
47. Saudi Arabia residential heat pumps market revenue estimates and forecast by power source, 2015 - 2025 (USD Million)
48. Vendor landscape

List of Figures

1. Residential heat pumps market snapshot
2. Residential heat pumps market segmentation & scope
3. Residential heat pumps market penetration & growth prospect mapping
4. Residential heat pumps value chain analysis
5. Residential heat pumps market dynamics
6. Residential heat pumps market Porter's analysis
7. Residential heat pumps market: Technology movement analysis
8. Residential heat pumps market: Power Source movement analysis
9. Residential heat pumps market: Regional movement analysis