Heat Pump Market to Expand 2.3X Owing to Advancements in Energy-efficient Devices: Fact.MR Research

Sales of heat pumps are expected to reach a valuation of US$ 140 Bn by 2031, rising at a robust CAGR of around 9% over the forecast period (2021 to 2031).

Key Takeaways from Market Study

• Global heat pump market to top US$ 140 Bn by 2031.
• Air source heat pumps projected to reach around US$ 80 Bn by 2031.
• Water source heat pumps projected to record above 6% CAGR over the next 10 years.
• Ground source heat pumps expected to reach valuation of US$ 20 Bn by 2031.
• Market in East Asia holds share of more than 50%.
• Market in Japan to record 5% CAGR over forecast period of 2021- 2031.

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of heat pumps across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of heat pumps during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

• Which are the most lucrative markets for heat pumps?
• Which factors will impact the growth of the market?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the heat pump industry?
• What are the winning strategies of stakeholders in the market?