Heat Pumps Global Market Report 2025

Heat Pumps Global Market Report 2025 – By Product Type (Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source), By Rated Capacity (Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW), By End User (Residential, Commercial, Industrial) – Market Size, Trends, And Global Forecast 2025-2034

Name: Heat Pumps Global Market Report 2025
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Heat Pumps Global Market Report 2025

Report Price : $4490.00 | Pages : 175 | Published : January 2025 | Delivery Time: 2-3 business days | Format : pdf

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Heat Pumps Market Definition

Heat pumps refer to an apparatus that moves heat from a cool space to a warm space, making the cool space cooler and the warm space warmer.

The main product types of heat pumps are air source, air-to-air, air-to-water, water source, and ground source. Ground-source heat pumps are highly effective space heating and cooling technologies that extract heat from the ground. The rated capacity is up to 10 kW, 10–20 kW, 20–30 kW, and above 30 kW. The various end-users involved are residential, commercial, and industrial.

Heat Pumps Market Segmentation

The heat pumps market covered in this report is segmented –

1) By Product Type: Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source

2) By Rated Capacity: Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW

3) By End User: Residential, Commercial, Industrial

Subsegments:

1) By Air Source: Air-To-Air Heat Pumps, Air-To-Water Heat Pumps

2) By Air-To-Air: Ductless Mini-Split Systems, Ducted Systems

3) By Air-To-Water: Heating For Radiant Floors, Domestic Hot Water Production

4) By Water Source: Open Loop Systems, Closed Loop Systems

5) By Ground Source: Geothermal Heat Pumps, Horizontal Loop Systems, Vertical Loop Systems

Heat Pumps Market Size and growth rate 2025 to 2029: Graph

Heat Pumps Market Size 2025 And Growth Rate

The heat pumps market size has grown strongly in recent years. It will grow from $97.14 billion in 2024 to $106.66 billion in 2025 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to innovations in renewable energy integration, energy crisis and environmental awareness, climate change concerns, urbanization and housing trends, rising energy costs.

Heat Pumps Market Growth Forecast

The heat pumps market size is expected to see rapid growth in the next few years. It will grow to $156.59 billion in 2029 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to growing energy efficiency regulations, climate change mitigation policies, rising energy prices, urbanization and building regulations, consumer demand for sustainable solutions. Major trends in the forecast period include hybrid heat pump systems, decarbonization initiatives, heat pump electrification, smart heat pump technology, cold climate heat pumps.

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Heat Pumps Market Driver: Government-Led Energy Efficiency Initiatives Drive Heat Pumps Market Growth

Government regulations and policies to improve energy efficiency are boosting demand for renewable energy sources, thereby contributing to the growth of the heat pumps market. Heat pumps offer a low carbon footprint, minimal installation time, and reduce energy consumption in household and industrial applications. Energy efficiency has tremendous potential to boost economic growth and reduce greenhouse gas emissions. The governments of various countries are adopting energy conservation policies. For instance, the UK government formed an Energy Efficiency Office, embracing various departments to monitor, coordinate, and develop energy conservation policies. Moreover, in the USA, all industries consuming more than one million GJ/A (100) are required to report their energy conservation and consumption efforts to the Department of Energy for seeking guidance on greater efficiency of energy use. Therefore, growing efforts to reduce energy usage are likely to propel demand for energy-efficient products, including the growth of the heat pumps market.

Heat Pumps Market Driver: Demand For Low Carbon Footprint To Drive Market Growth

Favorable measures to reduce carbon footprints are expected to propel the growth of the heat pumps market going forward. A carbon footprint refers to the total amount of greenhouse gases, primarily carbon dioxide (CO2), and other greenhouse gas equivalents, emitted directly or indirectly by an individual, organization, event, product, or activity over a specific period. Heat pumps are energy efficient and produce fewer carbon emissions compared to conventional heating and cooling systems. Additionally, government incentives, green building standards, and consumer awareness further promote the adoption of heat pumps as a sustainable choice. As individuals, organizations, and governments seek to mitigate climate change and reduce carbon emissions, heat pumps offer an attractive solution for lowering their environmental impact while also benefiting from cost savings and regulatory compliance. For instance, in December 2023, according to the Department for Energy Security and Net Zero, a UK-based government department, the UK government aims to cut direct emissions from public sector buildings by 50% by 2032 and by 75% by 2037. Therefore, favorable measures to reduce carbon footprints are driving the growth of the heat pumps market.

Global Heat Pumps Market Major Players

Major companies operating in the heat pumps market include Robert Bosch GmbH, Hitachi Ltd., United Technologies Corporation, LG Electronics Inc., Panasonic Corporation, Midea Group Corporation, Mitsubishi Electric Corporation, Fujitsu General Limited, Daikin Industries Ltd., Johnson Controls International PLC, Carrier Corporation, Trane Inc., Danfoss A/S, Ingersoll Rand Inc., Flamingo Heat Pumps, Viessmann Werke GmbH & Co. KG, Lennox International Inc., Vaillant Group, NIBE Industrier AB, Glen Dimplex Group, BDR Thermea Group S.p.A., Stiebel Eltron GmbH & Co. KG, Thermax Group, Wolf GmbH, Mayekawa Mfg. Co. Ltd., Enertech Global Corp., Bryant Heating & Cooling LLC, Airwell Group Limited, Emerson Climate Technologies Inc., Samsung Electronics Co. Ltd., Denso Corporation, MAN Energy Solutions SE

Global Heat Pumps Market Trend: Product Innovations Reshaping The Heat Pumps Market

Major companies operating in the heat pumps market are developing new eco-friendly products to gain a competitive edge in the market. Eco-friendly products are designed to reduce energy consumption, greenhouse gas emissions, and overall environmental impact while providing climate control for various applications. For instance, in November 2022, Mitsubishi Electric Corporation, a Japan-based electronics company, launched the Ecodan CAHV-R air source heat pump, which operates with low-GWP R454C refrigerant, making IT an eco-friendly solution for both sanitary hot water and space heating in commercial applications. This heat pump system can function as a single unit or as part of a multiple-unit system, offering flexibility for various settings, including schools and hospitals. The Ecodan CAHV-R, with its cascading and rotation capabilities, can efficiently deliver sustainable space heating and hot water year-round, making IT a valuable addition to the HVAC industry's offerings. Other key features include reduced embodied carbon, the ability to achieve a 70°C outlet temperature even at-2°C ambient temperature, and an advanced heat exchange design for shorter defrost times. Its low-frequency compressor control and the option to rotate units based on accumulated run hours enhance energy efficiency and product longevity.

Global Heat Pumps Market Trend: Hybrid Heating Systems Becoming A Growing Need In Renewable Home Heating Solutions

Major companies operating in the heat pumps market are developing renewable solutions such as hybrid heating systems to gain a competitive edge in the market. Hybrid heating systems combine two or more heating technologies to optimize energy efficiency and reduce environmental impact. For instance, in January 2023, Alpha Heating Innovation, a UK-based electrical and electronics manufacturing company, launched the E-Tec Hybrid, a hybrid heating system designed to help homeowners transition to renewable heating while retaining the reliability of a gas boiler. This system combines the Alpha E-Tec 33 boiler with an external heat pump unit (Alpha E-Tec EHP) and Smartech controls to provide efficient heating and hot water. The system intelligently selects the most cost-effective energy source based on current energy tariffs and outdoor temperatures. It offers instantaneous hot water, eliminates the need for upgrading the existing heating system, and can be installed in a single day.

Heat Pumps Market Merger And Acquisition: Johnson Controls Expands Heat Pump Portfolio With Hybrid Energy As Acquisition

In January 2023, Johnson Controls International PLC, an Ireland-based industrial machinery manufacturing company, acquired Hybrid Energy AS for an undisclosed amount. The acquisition of Hybrid Energy enhanced Johnson Controls' industrial heat pump portfolio, allowing them to provide high-temperature heat pumps with energy-efficient, sustainable solutions to rapidly growing district heating and industrial markets, particularly in Europe, while addressing decarbonization and sustainability goals. Hybrid Energy AS is a Norway-based energy management solutions company that specializes in high-temperature energy management solutions, particularly heat pumps for district heating and industrial processes.

Regional Outlook For The Global Heat Pumps Market

Asia-Pacific was the largest region in the heat pumps market in 2024. North America was the second largest region in the global heat pumps market share. The regions covered in the heat pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the heat pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

What Defines the Heat Pumps Market?

The heat pumps market consists of sales of closed loop, open loop and direct expansion ground-source heat pump. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What is the Market Assessment and Strategic Outlook for the Heat Pumps Industry?

The heat pumps market research report is one of a series of new reports from The Business Research Company that provides heat pumps market statistics, including heat pumps industry global market size, regional shares, competitors with a heat pumps market share, detailed heat pumps market segments, market trends and opportunities, and any further data you may need to thrive in the heat pumps industry. This heat pumps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Heat Pumps Market Report Forecast Analysis

Report Attribute	Details
Market Size Value In 2025	$106.66 billion
Revenue Forecast In 2034	$156.59 billion
Growth Rate	CAGR of 10.1% from 2024 to 2033
Base Year For Estimation	2024
Actual Estimates/Historical Data	2019-2024
Forecast Period	2025 - 2029 - 2034
Market Representation	Revenue in USD Billion and CAGR from 2025 to 2034
Segments Covered	1) By Product Type: Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source 2) By Rated Capacity: Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW 3) By End User: Residential, Commercial, Industrial Subsegments: 1) By Air Source: Air-To-Air Heat Pumps, Air-To-Water Heat Pumps 2) By Air-To-Air: Ductless Mini-Split Systems, Ducted Systems 3) By Air-To-Water: Heating For Radiant Floors, Domestic Hot Water Production 4) By Water Source: Open Loop Systems, Closed Loop Systems 5) By Ground Source: Geothermal Heat Pumps, Horizontal Loop Systems, Vertical Loop Systems
Regional Scope	Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Country Scope	The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. Additional countries that can be covered in the report are Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Key Companies Profiled	Robert Bosch GmbH, Hitachi Ltd., United Technologies Corporation, LG Electronics Inc., Panasonic Corporation, Midea Group Corporation, Mitsubishi Electric Corporation, Fujitsu General Limited, Daikin Industries Ltd., Johnson Controls International PLC, Carrier Corporation, Trane Inc., Danfoss A/S, Ingersoll Rand Inc., Flamingo Heat Pumps, Viessmann Werke GmbH & Co. KG, Lennox International Inc., Vaillant Group, NIBE Industrier AB, Glen Dimplex Group, BDR Thermea Group S.p.A., Stiebel Eltron GmbH & Co. KG, Thermax Group, Wolf GmbH, Mayekawa Mfg. Co. Ltd., Enertech Global Corp., Bryant Heating & Cooling LLC, Airwell Group Limited, Emerson Climate Technologies Inc., Samsung Electronics Co. Ltd., Denso Corporation, MAN Energy Solutions SE
Customization Scope	Request for Sample
Pricing And Purchase Options	Explore Purchase Options

1. Executive Summary

2. Heat Pumps Market Characteristics

3. Heat Pumps Market Trends And Strategies

4. Heat Pumps Market - Macro Economic Scenario Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics And Covid And Recovery On The Market

5. Global Heat Pumps Growth Analysis And Strategic Analysis Framework

5.1. Global Heat Pumps PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)

5.2. Analysis Of End Use Industries

5.3. Global Heat Pumps Market Growth Rate Analysis

5.4. Global Heat Pumps Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)

5.5. Global Heat Pumps Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)

5.6. Global Heat Pumps Total Addressable Market (TAM)

6. Heat Pumps Market Segmentation

6.1. Global Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Air Source

Air-to-Air

Air-to-Water

Water Source

Ground Source

6.2. Global Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Up to 10 kW

10–20 kW

20–30 kW

Above 30 kW

6.3. Global Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Residential

Commercial

Industrial

6.4. Global Heat Pumps Market, Sub-Segmentation Of Air Source, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Air-To-Air Heat Pumps

Air-To-Water Heat Pumps

6.5. Global Heat Pumps Market, Sub-Segmentation Of Air-To-Air, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Ductless Mini-Split Systems

Ducted Systems

6.6. Global Heat Pumps Market, Sub-Segmentation Of Air-To-Water, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Heating For Radiant Floors

Domestic Hot Water Production

6.7. Global Heat Pumps Market, Sub-Segmentation Of Water Source, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Open Loop Systems

Closed Loop Systems

6.8. Global Heat Pumps Market, Sub-Segmentation Of Ground Source, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Geothermal Heat Pumps

Horizontal Loop Systems

Vertical Loop Systems

7. Heat Pumps Market Regional And Country Analysis

7.1. Global Heat Pumps Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

7.2. Global Heat Pumps Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

8. Asia-Pacific Heat Pumps Market

8.1. Asia-Pacific Heat Pumps Market Overview

Region Information, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

8.2. Asia-Pacific Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

8.3. Asia-Pacific Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

8.4. Asia-Pacific Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

9. China Heat Pumps Market

9.1. China Heat Pumps Market Overview

9.2. China Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

9.3. China Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

9.4. China Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

10. India Heat Pumps Market

10.1. India Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

10.2. India Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

10.3. India Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

11. Japan Heat Pumps Market

11.1. Japan Heat Pumps Market Overview

11.2. Japan Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

11.3. Japan Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

11.4. Japan Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12. Australia Heat Pumps Market

12.1. Australia Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12.2. Australia Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12.3. Australia Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13. Indonesia Heat Pumps Market

13.1. Indonesia Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13.2. Indonesia Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13.3. Indonesia Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

14. South Korea Heat Pumps Market

14.1. South Korea Heat Pumps Market Overview

14.2. South Korea Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

14.3. South Korea Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

14.4. South Korea Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

15. Western Europe Heat Pumps Market

15.1. Western Europe Heat Pumps Market Overview

15.2. Western Europe Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

15.3. Western Europe Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

15.4. Western Europe Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16. UK Heat Pumps Market

16.1. UK Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16.2. UK Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16.3. UK Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17. Germany Heat Pumps Market

17.1. Germany Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17.2. Germany Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17.3. Germany Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18. France Heat Pumps Market

18.1. France Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18.2. France Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18.3. France Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19. Italy Heat Pumps Market

19.1. Italy Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19.2. Italy Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19.3. Italy Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20. Spain Heat Pumps Market

20.1. Spain Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20.2. Spain Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20.3. Spain Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

21. Eastern Europe Heat Pumps Market

21.1. Eastern Europe Heat Pumps Market Overview

21.2. Eastern Europe Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

21.3. Eastern Europe Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

21.4. Eastern Europe Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22. Russia Heat Pumps Market

22.1. Russia Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22.2. Russia Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22.3. Russia Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

23. North America Heat Pumps Market

23.1. North America Heat Pumps Market Overview

23.2. North America Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

23.3. North America Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

23.4. North America Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

24. USA Heat Pumps Market

24.1. USA Heat Pumps Market Overview

24.2. USA Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

24.3. USA Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

24.4. USA Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

25. Canada Heat Pumps Market

25.1. Canada Heat Pumps Market Overview

25.2. Canada Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

25.3. Canada Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

25.4. Canada Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

26. South America Heat Pumps Market

26.1. South America Heat Pumps Market Overview

26.2. South America Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

26.3. South America Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

26.4. South America Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27. Brazil Heat Pumps Market

27.1. Brazil Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27.2. Brazil Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27.3. Brazil Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

28. Middle East Heat Pumps Market

28.1. Middle East Heat Pumps Market Overview

28.2. Middle East Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

28.3. Middle East Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

28.4. Middle East Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

29. Africa Heat Pumps Market

29.1. Africa Heat Pumps Market Overview

29.2. Africa Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

29.3. Africa Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

29.4. Africa Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

30. Heat Pumps Market Competitive Landscape And Company Profiles

30.1. Heat Pumps Market Competitive Landscape

30.2. Heat Pumps Market Company Profiles

30.2.1. Robert Bosch GmbH Overview, Products and Services, Strategy and Financial Analysis

30.2.2. Hitachi Ltd. Overview, Products and Services, Strategy and Financial Analysis

30.2.3. United Technologies Corporation Overview, Products and Services, Strategy and Financial Analysis

30.2.4. LG Electronics Inc. Overview, Products and Services, Strategy and Financial Analysis

30.2.5. Panasonic Corporation Overview, Products and Services, Strategy and Financial Analysis

31. Heat Pumps Market Other Major And Innovative Companies

31.1. Midea Group Corporation

31.2. Mitsubishi Electric Corporation

31.3. Fujitsu General Limited

31.4. Daikin Industries Ltd.

31.5. Johnson Controls International PLC

31.6. Carrier Corporation

31.7. Trane Inc.

31.8. Danfoss A/S

31.9. Ingersoll Rand Inc.

31.10. Flamingo Heat Pumps

31.11. Viessmann Werke GmbH & Co. KG

31.12. Lennox International Inc.

31.13. Vaillant Group

31.14. NIBE Industrier AB

31.15. Glen Dimplex Group

32. Global Heat Pumps Market Competitive Benchmarking And Dashboard

33. Key Mergers And Acquisitions In The Heat Pumps Market

34. Recent Developments In The Heat Pumps Market

35. Heat Pumps Market High Potential Countries, Segments and Strategies

35.1 Heat Pumps Market In 2029 - Countries Offering Most New Opportunities

35.2 Heat Pumps Market In 2029 - Segments Offering Most New Opportunities

35.3 Heat Pumps Market In 2029 - Growth Strategies

35.3.1 Market Trend Based Strategies

35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations

36.2. Currencies

36.3. Historic And Forecast Inflation Rates

36.4. Research Inquiries

36.5. The Business Research Company

36.6. Copyright And Disclaimer

List Of Tables

Table 1: Global Historic Market Growth, 2019-2024, $ Billion

Table 2: Global Forecast Market Growth, 2024-2029F, 2034F, $ Billion

Table 3: Global Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 4: Global Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 5: Global Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 6: Global Heat Pumps Market, Sub-Segmentation Of Air Source, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 7: Global Heat Pumps Market, Sub-Segmentation Of Air-To-Air, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 8: Global Heat Pumps Market, Sub-Segmentation Of Air-To-Water, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 9: Global Heat Pumps Market, Sub-Segmentation Of Water Source, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 10: Global Heat Pumps Market, Sub-Segmentation Of Ground Source, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 11: Global Heat Pumps Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 12: Global Heat Pumps Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 13: Asia-Pacific, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 14: Asia-Pacific, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 15: Asia-Pacific, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 16: China, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 17: China, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 18: China, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 19: India, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 20: India, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 21: India, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 22: Japan, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 23: Japan, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 24: Japan, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 25: Australia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 26: Australia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 27: Australia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 28: Indonesia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 29: Indonesia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 30: Indonesia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 31: South Korea, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 32: South Korea, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 33: South Korea, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 34: Western Europe, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 35: Western Europe, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 36: Western Europe, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 37: UK, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 38: UK, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 39: UK, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 40: Germany, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 41: Germany, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 42: Germany, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 43: France, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 44: France, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 45: France, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 46: Italy, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 47: Italy, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 48: Italy, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 49: Spain, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 50: Spain, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 51: Spain, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 52: Eastern Europe, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 53: Eastern Europe, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 54: Eastern Europe, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 55: Russia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 56: Russia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 57: Russia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 58: North America, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 59: North America, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 60: North America, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 61: USA, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 62: USA, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 63: USA, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 64: Canada, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 65: Canada, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 66: Canada, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 67: South America, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 68: South America, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 69: South America, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 70: Brazil, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 71: Brazil, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 72: Brazil, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 73: Middle East, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 74: Middle East, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 75: Middle East, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 76: Africa, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 77: Africa, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 78: Africa, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Table 79: Robert Bosch GmbH Financial Performance

Table 80: Hitachi Ltd. Financial Performance

Table 81: United Technologies Corporation Financial Performance

Table 82: LG Electronics Inc. Financial Performance

Table 83: Panasonic Corporation Financial Performance

List Of Figures

Figure 1: Global Historic Market Growth, 2019-2024, $ Billion

Figure 2: Global Forecast Market Growth, 2024-2029F, 2034F, $ Billion

Figure 3: Global Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 4: Global Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 5: Global Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 6: Global Heat Pumps Market, Sub-Segmentation Of Air Source, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 7: Global Heat Pumps Market, Sub-Segmentation Of Air-To-Air, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 8: Global Heat Pumps Market, Sub-Segmentation Of Air-To-Water, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 9: Global Heat Pumps Market, Sub-Segmentation Of Water Source, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 10: Global Heat Pumps Market, Sub-Segmentation Of Ground Source, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 11: Global Heat Pumps Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 12: Global Heat Pumps Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 13: Asia-Pacific, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 14: Asia-Pacific, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 15: Asia-Pacific, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 16: China, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 17: China, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 18: China, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 19: India, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 20: India, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 21: India, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 22: Japan, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 23: Japan, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 24: Japan, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 25: Australia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 26: Australia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 27: Australia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 28: Indonesia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 29: Indonesia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 30: Indonesia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 31: South Korea, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 32: South Korea, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 33: South Korea, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 34: Western Europe, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 35: Western Europe, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 36: Western Europe, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 37: UK, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 38: UK, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 39: UK, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 40: Germany, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 41: Germany, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 42: Germany, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 43: France, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 44: France, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 45: France, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 46: Italy, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 47: Italy, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 48: Italy, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 49: Spain, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 50: Spain, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 51: Spain, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 52: Eastern Europe, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 53: Eastern Europe, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 54: Eastern Europe, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 55: Russia, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 56: Russia, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 57: Russia, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 58: North America, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 59: North America, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 60: North America, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 61: USA, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 62: USA, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 63: USA, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 64: Canada, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 65: Canada, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 66: Canada, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 67: South America, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 68: South America, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 69: South America, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 70: Brazil, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 71: Brazil, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 72: Brazil, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 73: Middle East, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 74: Middle East, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 75: Middle East, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 76: Africa, Heat Pumps Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 77: Africa, Heat Pumps Market, Segmentation By Rated Capacity, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 78: Africa, Heat Pumps Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Figure 79: Robert Bosch GmbH Financial Performance

Figure 80: Hitachi Ltd. Financial Performance

Figure 81: United Technologies Corporation Financial Performance

Figure 82: LG Electronics Inc. Financial Performance

Figure 83: Panasonic Corporation Financial Performance

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Frequently Asked Questions

What is the definition of the Heat Pumps market?

Heat pumps refer to an apparatus that moves heat from a cool space to a warm space, making the cool space cooler and the warm space warmer. For further insights on the Heat Pumps market, request a sample here

How will the Heat Pumps market drivers and restraints affect the market dynamics? What forces will shape the Heat Pumps industry going forward?

The Heat Pumps market major growth driver - Government-Led Energy Efficiency Initiatives Drive Heat Pumps Market Growth. For further insights on the Heat Pumps market, request a sample here

What is the forecast market size or the forecast market value of the Heat Pumps market?

The Heat Pumps market size has grown strongly in recent years. The heat pumps market size has grown strongly in recent years. It will grow from $97.14 billion in 2024 to $106.66 billion in 2025 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to innovations in renewable energy integration, energy crisis and environmental awareness, climate change concerns, urbanization and housing trends, rising energy costs. The heat pumps market size is expected to see rapid growth in the next few years. It will grow to $156.59 billion in 2029 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to growing energy efficiency regulations, climate change mitigation policies, rising energy prices, urbanization and building regulations, consumer demand for sustainable solutions. Major trends in the forecast period include hybrid heat pump systems, decarbonization initiatives, heat pump electrification, smart heat pump technology, cold climate heat pumps. For further insights on the Heat Pumps market, request a sample here

How is the Heat Pumps market segmented?

The heat pumps market covered in this report is segmented –
1) By Product Type: Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source
2) By Rated Capacity: Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW
3) By End User: Residential, Commercial, Industrial Subsegments:
1) By Air Source: Air-To-Air Heat Pumps, Air-To-Water Heat Pumps
2) By Air-To-Air: Ductless Mini-Split Systems, Ducted Systems
3) By Air-To-Water: Heating For Radiant Floors, Domestic Hot Water Production
4) By Water Source: Open Loop Systems, Closed Loop Systems
5) By Ground Source: Geothermal Heat Pumps, Horizontal Loop Systems, Vertical Loop Systems For further insights on the Heat Pumps market, request a sample here

Which region has the largest share of the Heat Pumps market? What are the other regions covered in the report?

Asia-Pacific was the largest region in the heat pumps market in 2024. North America was the second largest region in the global heat pumps market share. The regions covered in the heat pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. For further insights on the Heat Pumps market, request a sample here.

Who are the major players in the Heat Pumps market?

What are the key trends in the Heat Pumps market?

Major trends in the Heat Pumps market include Product Innovations Reshaping The Heat Pumps Market. For further insights on the Heat Pumps market, request a sample here.

What are the major opportunities in the Heat Pumps market? What are the strategies for the Heat Pumps market?

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How does the Heat Pumps market relate to the overall economy and other similar markets?

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What are the latest mergers and acquisitions in the Heat Pumps industry?

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What are the key dynamics influencing the Heat Pumps market growth? SWOT analysis of the Heat Pumps market.

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