The global market for Heat Pumps was estimated to be worth US$ 84,353 million in 2023 and is forecast to a readjusted size of US$ 133,666 million by 2030 with a CAGR of 6.75% during the forecast period 2024-2030.
North American market for Heat Pumps was valued at $ 19,231 million in 2023 and will reach $ 29,662 million by 2030, at a CAGR of 6.37% during the forecast period of 2024 through 2030.
Asia-Pacific market for Heat Pumps was valued at $ 50,330 million in 2023 and will reach $ 81,540 million by 2030, at a CAGR of 7.07% during the forecast period of 2024 through 2030.
Europe market for Heat Pumps was valued at $ 12,190 million in 2023 and will reach $ 18,941 million by 2030, at a CAGR of 6.47% during the forecast period of 2024 through 2030.
The global key companies of Heat Pumps include Daikin, Carrier, Midea, Mitsubishi, Hitachi, Bosch, LG Electronics, NIBE Industrier, Fujitsu, Panasonic and Vaillant, etc. In 2023, the global five largest players hold a share approximately 25.44% in terms of revenue.
This report aims to provide a comprehensive presentation of the global market for Heat Pumps, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Heat Pumps by region & country, by Type, and by Application.
The Heat Pumps market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Heat Pumps.
Market Segmentation
By Company
- 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
Segment by Type
- Air Source
- Water Source
- Geothermal
Segment by Application
- Residential
- Industrial
- Commercial
By Region
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- South Korea
- China Taiwan
- India
- Southeast Asia
- Rest of Asia-Pacific
- Europe
- Germany
- UK
- France
- Sweden
- Italy
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Heat Pumps manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Heat Pumps in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Heat Pumps in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Table of Contents
1 Market Overview
- 1.1 Heat Pumps Product Introduction
- 1.2 Global Heat Pumps Market Size Forecast
- 1.2.1 Global Heat Pumps Sales Value (2019-2030)
- 1.2.2 Global Heat Pumps Sales Volume (2019-2030)
- 1.2.3 Global Heat Pumps Sales Price (2019-2030)
- 1.3 Heat Pumps Market Trends & Drivers
- 1.3.1 Heat Pumps Industry Trends
- 1.3.2 Heat Pumps Market Drivers & Opportunity
- 1.3.3 Heat Pumps Market Challenges
- 1.3.4 Heat Pumps Market Restraints
- 1.4 Assumptions and Limitations
- 1.5 Study Objectives
- 1.6 Years Considered
2 Competitive Analysis by Company
- 2.1 Global Heat Pumps Players Revenue Ranking (2023)
- 2.2 Global Heat Pumps Revenue by Company (2019-2024)
- 2.3 Global Heat Pumps Players Sales Volume Ranking (2023)
- 2.4 Global Heat Pumps Sales Volume by Company Players (2019-2024)
- 2.5 Global Heat Pumps Average Price by Company (2019-2024)
- 2.6 Key Manufacturers Heat Pumps Manufacturing Base and Area Served
- 2.7 Global Key Manufacturers of Heat Pumps, Established Date
- 2.8 Heat Pumps Market Competitive Analysis
- 2.8.1 Heat Pumps Market Concentration Rate (2019-2024)
- 2.8.2 Global 5 and 10 Largest Manufacturers by Heat Pumps Revenue in 2023
- 2.8.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Heat Pumps as of 2023)
- 2.9 Mergers & Acquisitions, Expansion
3 Segmentation by Type
- 3.1 Introduction by Type
- 3.1.1 Air Source
- 3.1.2 Water Source
- 3.1.3 Geothermal
- 3.2 Global Heat Pumps Sales Value by Type
- 3.2.1 Global Heat Pumps Sales Value by Type (2019 VS 2023 VS 2030)
- 3.2.2 Global Heat Pumps Sales Value, by Type (2019-2030)
- 3.2.3 Global Heat Pumps Sales Value, by Type (%) (2019-2030)
- 3.3 Global Heat Pumps Sales Volume by Type
- 3.3.1 Global Heat Pumps Sales Volume by Type (2019 VS 2023 VS 2030)
- 3.3.2 Global Heat Pumps Sales Volume, by Type (2019-2030)
- 3.3.3 Global Heat Pumps Sales Volume, by Type (%) (2019-2030)
- 3.4 Global Heat Pumps Average Price by Type (2019-2030)
4 Segmentation by Application
- 4.1 Introduction by Application
- 4.1.1 Residential
- 4.1.2 Industrial
- 4.1.3 Commercial
- 4.2 Global Heat Pumps Sales Value by Application
- 4.2.1 Global Heat Pumps Sales Value by Application (2019 VS 2023 VS 2030)
- 4.2.2 Global Heat Pumps Sales Value, by Application (2019-2030)
- 4.2.3 Global Heat Pumps Sales Value, by Application (%) (2019-2030)
- 4.3 Global Heat Pumps Sales Volume by Application
- 4.3.1 Global Heat Pumps Sales Volume by Application (2019 VS 2023 VS 2030)
- 4.3.2 Global Heat Pumps Sales Volume, by Application (2019-2030)
- 4.3.3 Global Heat Pumps Sales Volume, by Application (%) (2019-2030)
- 4.4 Global Heat Pumps Average Price by Application (2019-2030)
5 Segmentation by Region
- 5.1 Global Heat Pumps Sales Value by Region
- 5.1.1 Global Heat Pumps Sales Value by Region: 2019 VS 2023 VS 2030
- 5.1.2 Global Heat Pumps Sales Value by Region (2019-2024)
- 5.1.3 Global Heat Pumps Sales Value by Region (2025-2030)
- 5.1.4 Global Heat Pumps Sales Value by Region (%), (2019-2030)
- 5.2 Global Heat Pumps Sales Volume by Region
- 5.2.1 Global Heat Pumps Sales Volume by Region: 2019 VS 2023 VS 2030
- 5.2.2 Global Heat Pumps Sales Volume by Region (2019-2024)
- 5.2.3 Global Heat Pumps Sales Volume by Region (2025-2030)
- 5.2.4 Global Heat Pumps Sales Volume by Region (%), (2019-2030)
- 5.3 Global Heat Pumps Average Price by Region (2019-2030)
- 5.4 North America
- 5.4.1 North America Heat Pumps Sales Value, 2019-2030
- 5.4.2 North America Heat Pumps Sales Value by Country (%), 2023 VS 2030
- 5.5 Europe
- 5.5.1 Europe Heat Pumps Sales Value, 2019-2030
- 5.5.2 Europe Heat Pumps Sales Value by Country (%), 2023 VS 2030
- 5.6 Asia Pacific
- 5.6.1 Asia Pacific Heat Pumps Sales Value, 2019-2030
- 5.6.2 Asia Pacific Heat Pumps Sales Value by Region (%), 2023 VS 2030
- 5.7 Latin America
- 5.7.1 Latin America Heat Pumps Sales Value, 2019-2030
- 5.7.2 Latin America Heat Pumps Sales Value by Country (%), 2023 VS 2030
- 5.8 Middle East & Africa
6 Segmentation by Key Countries/Regions
- 6.1 Key Countries/Regions Heat Pumps Sales Value Growth Trends, 2019 VS 2023 VS 2030
- 6.2 Key Countries/Regions Heat Pumps Sales Value
- 6.2.1 Key Countries/Regions Heat Pumps Sales Value, 2019-2030
- 6.2.2 Key Countries/Regions Heat Pumps Sales Volume, 2019-2030
- 6.3 United States
- 6.3.1 United States Heat Pumps Sales Value, 2019-2030
- 6.3.2 United States Heat Pumps Sales Value by Type (%), 2023 VS 2030
- 6.3.3 United States Heat Pumps Sales Value by Application, 2023 VS 2030
- 6.4 Europe
- 6.4.1 Europe Heat Pumps Sales Value, 2019-2030
- 6.4.2 Europe Heat Pumps Sales Value by Type (%), 2023 VS 2030
- 6.4.3 Europe Heat Pumps Sales Value by Application, 2023 VS 2030
- 6.5 China
- 6.5.1 China Heat Pumps Sales Value, 2019-2030
- 6.5.2 China Heat Pumps Sales Value by Type (%), 2023 VS 2030
- 6.5.3 China Heat Pumps Sales Value by Application, 2023 VS 2030
- 6.6 Japan
- 6.6.1 Japan Heat Pumps Sales Value, 2019-2030
- 6.6.2 Japan Heat Pumps Sales Value by Type (%), 2023 VS 2030
- 6.6.3 Japan Heat Pumps Sales Value by Application, 2023 VS 2030
- 6.7 South Korea
- 6.7.1 South Korea Heat Pumps Sales Value, 2019-2030
- 6.7.2 South Korea Heat Pumps Sales Value by Type (%), 2023 VS 2030
- 6.7.3 South Korea Heat Pumps Sales Value by Application, 2023 VS 2030
- 6.8 Southeast Asia
- 6.8.1 Southeast Asia Heat Pumps Sales Value, 2019-2030
- 6.8.2 Southeast Asia Heat Pumps Sales Value by Type (%), 2023 VS 2030
- 6.8.3 Southeast Asia Heat Pumps Sales Value by Application, 2023 VS 2030
- 6.9 India
- 6.9.1 India Heat Pumps Sales Value, 2019-2030
- 6.9.2 India Heat Pumps Sales Value by Type (%), 2023 VS 2030
- 6.9.3 India Heat Pumps Sales Value by Application, 2023 VS 2030
7 Company Profiles
- 7.1 Daikin
- 7.1.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.1.2 Heat Pumps Product Overview
- 7.1.3 Daikin Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.1.4 Main Business/Business Overview
- 7.2 Carrier
- 7.2.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.2.2 Heat Pumps Product Overview
- 7.2.3 Carrier Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.2.4 Main Business/Business Overview
- 7.3 Midea
- 7.3.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.3.2 Heat Pumps Product Overview
- 7.3.3 Midea Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.3.4 Main Business/Business Overview
- 7.4 Mitsubishi
- 7.4.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.4.2 Heat Pumps Product Overview
- 7.4.3 Mitsubishi Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.4.4 Main Business/Business Overview
- 7.5 Hitachi
- 7.5.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.5.2 Heat Pumps Product Overview
- 7.5.3 Hitachi Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.5.4 Main Business/Business Overview
- 7.6 Bosch
- 7.6.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.6.2 Heat Pumps Product Overview
- 7.6.3 Bosch Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.6.4 Main Business/Business Overview
- 7.7 LG Electronics
- 7.7.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.7.2 Heat Pumps Product Overview
- 7.7.3 LG Electronics Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.7.4 Main Business/Business Overview
- 7.8 NIBE Industrier
- 7.8.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.8.2 Heat Pumps Product Overview
- 7.8.3 NIBE Industrier Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.8.4 Main Business/Business Overview
- 7.9 Fujitsu
- 7.9.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.9.2 Heat Pumps Product Overview
- 7.9.3 Fujitsu Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.9.4 Main Business/Business Overview
- 7.10 Panasonic
- 7.10.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.10.2 Heat Pumps Product Overview
- 7.10.3 Panasonic Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.10.4 Main Business/Business Overview
- 7.11 Vaillant
- 7.11.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.11.2 Heat Pumps Product Overview
- 7.11.3 Vaillant Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.11.4 Main Business/Business Overview
- 7.12 GREE Electric
- 7.12.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.12.2 Heat Pumps Product Overview
- 7.12.3 GREE Electric Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.12.4 Main Business/Business Overview
- 7.13 Atlantic
- 7.13.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.13.2 Heat Pumps Product Overview
- 7.13.3 Atlantic Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.13.4 Main Business/Business Overview
- 7.14 Stiebel Eltron
- 7.14.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.14.2 Heat Pumps Product Overview
- 7.14.3 Stiebel Eltron Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.14.4 Main Business/Business Overview
- 7.15 Rheem
- 7.15.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.15.2 Heat Pumps Product Overview
- 7.15.3 Rheem Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.15.4 Main Business/Business Overview
- 7.16 AMITIME
- 7.16.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.16.2 Heat Pumps Product Overview
- 7.16.3 AMITIME Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.16.4 Main Business/Business Overview
- 7.17 Thermia
- 7.17.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.17.2 Heat Pumps Product Overview
- 7.17.3 Thermia Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.17.4 Main Business/Business Overview
- 7.18 Johnson Controls
- 7.18.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.18.2 Heat Pumps Product Overview
- 7.18.3 Johnson Controls Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.18.4 Main Business/Business Overview
- 7.19 Aermec
- 7.19.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.19.2 Heat Pumps Product Overview
- 7.19.3 Aermec Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.19.4 Main Business/Business Overview
- 7.20 Zhengxu
- 7.20.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.20.2 Heat Pumps Product Overview
- 7.20.3 Zhengxu Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.20.4 Main Business/Business Overview
- 7.21 Maritime Geothermal Ltd.
- 7.21.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.21.2 Heat Pumps Product Overview
- 7.21.3 Maritime Geothermal Ltd. Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.21.4 Main Business/Business Overview
- 7.22 Kensa
- 7.22.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.22.2 Heat Pumps Product Overview
- 7.22.3 Kensa Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.22.4 Main Business/Business Overview
- 7.23 Calorex
- 7.23.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.23.2 Heat Pumps Product Overview
- 7.23.3 Calorex Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.23.4 Main Business/Business Overview
- 7.24 Sirac
- 7.24.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.24.2 Heat Pumps Product Overview
- 7.24.3 Sirac Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.24.4 Main Business/Business Overview
- 7.25 Tongyi Electrical
- 7.25.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
- 7.25.2 Heat Pumps Product Overview
- 7.25.3 Tongyi Electrical Heat Pumps Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2019-2024)
- 7.25.4 Main Business/Business Overview
8 Industry Chain Analysis
- 8.1 Heat Pumps Industrial Chain
- 8.2 Heat Pumps 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 Heat Pumps Sales Model
- 8.5.2 Sales Channel
- 8.5.3 Heat Pumps Distributors
9 Research Findings and Conclusion
10 Appendix
- 10.1 Research Methodology
- 10.1.1 Methodology/Research Approach
- 10.1.2 Data Source
- 10.2 Author Details
- 10.3 Disclaimer