CO2 Heat Pump Water Heater Market size was valued at USD 1.2 Billion in 2024 and is projected to reach USD 3.5 Billion by 2033, exhibiting a CAGR of 12.5% from 2026 to 2033.
In 2022, the global CO₂ heat pump water heater market was valued at USD 1.50 billion and is projected to reach USD 3.00 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.20% from 2024 to 2030. Asia Pacific leads the market, accounting for approximately 60% of global installations. Japan contributes 40% of regional demand, with 90% of newly built homes integrating CO₂ heat pumps due to government mandates and efficiency standards. China holds a 30% share, driven by increased industrial adoption and government investments in energy efficient infrastructure. South Korea accounts for 15% of demand, supported by building efficiency laws.Europe represents 25% of the market, with Germany, France, and the U.K. accounting for 65% of demand. The EUs ban on gas water heaters by 2030 has accelerated adoption, with heat pump installations increasing by 35% in residential applications. France and the Netherlands have introduced subsidies covering 30% of installation costs, encouraging consumers to shift to low carbon heating solutions. North America is experiencing significant growth, with the U.S. accounting for 80% of regional demand, driven by state level incentives covering 25% of installation costs. Canada follows with a 12% market share, supported by green energy programs. The Middle East & Africa market is emerging, showing a 20% increase in installations, with the UAE and Saudi Arabia leading the market, and 50% of demand coming from the commercial sector.
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DENSO
Sanden
Mitsubishi
Nihon Itomic
Daikin
AAON
DunAn Group
Sujing Group
enEX
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. 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 CO2 Heat Pump Water Heater Market
Air-source CO2 Heat Pumps
Water-source CO2 Heat Pumps
Ground-source CO2 Heat Pumps
Hybrid CO2 Heat Pumps
Residential
Commercial
Industrial
Agricultural
Below 50 Liters
50 to 100 Liters
100 to 200 Liters
Above 200 Liters
Hospitality
Healthcare
Education
Retail
Direct Sales
Online Sales
Retail Outlets
Distributor/Wholesaler
US (United States, US 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 CO2 Heat Pump Water Heater 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 CO2 Heat Pump Water Heater Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global CO2 Heat Pump Water Heater Market, By Type
6. Global CO2 Heat Pump Water Heater Market, By Application
7. Global CO2 Heat Pump Water Heater Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global CO2 Heat Pump Water Heater Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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