Us Module Heat Pump Units Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Module Heat Pump Units Market was valued at USD 5.6 Billion in 2022 and is projected to reach USD 10.2 Billion by 2030, growing at a CAGR of 8.0% from 2024 to 2030.
The United States is witnessing a significant surge in the adoption of module heat pump units, driven by the increasing demand for energy-efficient heating and cooling solutions. In 2024, the U.S. heat pump market was valued at approximately USD 11.2 billion and is projected to grow at a compound annual growth rate (CAGR) of 8.4% from 2025 to 2034. This growth is largely attributed to rising greenhouse gas emissions and a consumer shift towards low-carbon technologies.
Several factors contribute to this upward trend:
Government Initiatives: Policies promoting energy efficiency and the reduction of carbon footprints have incentivized both manufacturers and consumers to transition to heat pump systems.
Technological Advancements: Innovations, such as the integration of R-32 refrigerant with low global warming potential and highly efficient inverter compressors, have enhanced the performance and appeal of modern heat pump units.
Environmental Concerns: Growing awareness of environmental issues has led consumers to seek sustainable alternatives for heating and cooling, positioning heat pumps as a preferred choice.
In the residential sector, the market reached USD 5.8 billion in 2023 and is expected to witness a CAGR of over 9.6% between 2024 and 2032. This growth is driven by the demand for energy-efficient solutions and supportive government policies. Notably, air-source heat pumps are anticipated to surpass USD 12 billion by 2032, owing to their efficiency in converting ambient air into heating or cooling with minimal energy consumption.
Leading industry players, including American Standard, Bosch, Carrier, Daikin, and Lennox, are actively expanding their product portfolios to meet the evolving needs of consumers. For instance, in July 2024, Daikin Applied expanded its Rebel Applied and Rebel packaged rooftop systems to include air-source heat pumps, featuring R-32 refrigerant and advanced inverter compressors. These systems are designed to enhance comfort, reduce operational costs, and minimize carbon emissions in buildings.
Despite the positive trajectory, the market faces challenges. The potential rollback of tax incentives, such as the $7,500 credit for electric vehicle purchases, could impact consumer adoption rates. However, industry experts believe that the momentum towards electrification and energy-efficient solutions will persist, albeit with possible adjustments in growth timelines.
In conclusion, the U.S. module heat pump units market is poised for substantial growth in the coming decade. With technological innovations, supportive policies, and a heightened focus on sustainability, heat pumps are set to play a pivotal role in the nation's heating and cooling landscape.
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Johnson Controls
Mc Quay International
Carrier
Trane
Dunham Bush
Daikin
Hitachi
Toshiba
Mitsubishi Electric
GREE
Midea
Haier
Nanjing TICA
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Module Heat Pump Units Market
Air Source Heat Pumps
Ground Source Heat Pumps
Water Source Heat Pumps
Hybrid Heat Pumps
Residential Applications
Commercial Applications
Industrial Applications
Agricultural Applications
Split-System Heat Pumps
Packaged Heat Pumps
Multi-Split Heat Pumps
Variable Refrigerant Flow (VRF) Systems
Inverter Technology
Geothermal Technology
Thermal Storage Technology
Smart Thermostat Integration
Compressors
Evaporators
Condensers
Expansion Valves
Refrigerants
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Module Heat Pump Units Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Module Heat Pump Units Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Module Heat Pump Units Market, By Type
6. Global Module Heat Pump Units Market, By Application
7. Global Module Heat Pump Units Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Module Heat Pump Units Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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