カテゴリー： MarketsandMarkets, 世界, 産業機械/建設

世界のヒートポンプ市場（～2029年）：技術別（空対空、空対水、水源、地熱、ハイブリッド、PVT）、冷媒別（R410A、R407C、R744、R290、R717）、種類別（可逆、非可逆）、定格容量別、エンドユーザー別、用途別、地域別

◆英語タイトル：Heat Pump Market by Technology (Air-to-Air, Air-to-Water, Water Source, Geothermal, Hybrid, PVT), Refrigerant (R410A, R407C, R744, R290, R717), Type (Reversible, Non-reversible), Rated Capacity, End User, Application and Region - Global Forecast to 2029

MarketsandMarketsが発行した調査報告書（EP6413-24）◆商品コード：EP6413-24
◆発行会社（リサーチ会社）：MarketsandMarkets
◆発行日：2024年3月
◆ページ数：298
◆レポート形式：英語 / PDF
◆納品方法：Eメール（受注後24時間以内）
◆調査対象地域：グローバル
◆産業分野：産業装置
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❖ レポートの概要 ❖

“世界のヒートポンプ市場は、2024年の901億米ドルから2029年1,578億米ドルまで、予測期間中にCAGR 11.8%で成長すると予測”ヒートポンプは、太陽光発電や風力発電などの再生可能エネルギー源と統合することができ、より持続可能で環境に優しい冷暖房ソリューションを可能にします。

“空対水ヒートポンプが技術別で市場第2位に”
ヒートポンプ市場は技術別に、空対空気ヒートポンプ、空対水ヒートポンプ、水源ヒートポンプ、地中熱ヒートポンプ、ハイブリッドヒートポンプ、太陽光熱ヒートポンプに分類されます。予測期間中、空対水ヒートポンプは2番目に大きなセグメントになる見込みです。空対水ヒートポンプの利用は、従来の住宅用途を超え、商業ビル、産業施設、プールなどのレクリエーション施設を含む多様な分野で急激な成長が見られます。このような幅広い採用は、冷暖房ソリューションのパラダイムシフトを意味し、空対水ヒートポンプは汎用性が高く効率的な代替手段として台頭しています。

“タイプ別では、リバーシブルヒートポンプセグメントが予測期間中に2番目に急成長する見込み”
ヒートポンプ市場はタイプ別に、リバーシブルヒートポンプと非リバーシブルヒートポンプに区分されます。リバーシブルヒートポンプ分野は、予測期間中、ヒートポンプ市場で2番目に急成長する分野となる見込みです。リバーシブルヒートポンプの顕著な特徴の1つは、エネルギー入力を暖房または冷房出力に変換する効率を定量化する顕著な成績係数（COP）です。リバーシブルヒートポンプのCOP値は一般的に3～5で、消費エネルギーに対して最大300～500%の冷暖房能力を発揮します。この優れた効率性は、大幅な省エネにつながるだけでなく、長期的には住宅所有者や企業の大幅なコスト削減にもつながります。

“冷媒別では、R410Aセグメントが予測期間中に最も急成長する見込み”
冷媒に基づき、ヒートポンプ市場はR410A、R407C、R744、R290、R717、その他の冷媒に区分されます。予測期間中、ヒートポンプ市場ではR410Aセグメントが最も急成長する見込み。R410Aヒートポンプの産業用途は、食品加工、製薬、製造など幅広い分野に及びますが、そこでは製品の品質維持、プロセス効率の確保、規制基準の遵守のために正確な温度制御が不可欠です。食品加工産業では、R410Aヒートポンプは、生鮮品の鮮度と安全性を維持するための冷蔵、冷凍、温度管理された貯蔵などの作業に利用されています。これらのヒートポンプは、信頼性が高くエネルギー効率の高い冷却ソリューションを提供し、食品の腐敗を防ぎ、保存期間を延ばし、厳しい食品安全規制を満たすのに役立ちます。

“10～20 kW： ヒートポンプ市場の定格容量別で2番目に大きいセグメント”
定格容量に基づき、ヒートポンプ市場は10kWまで、10～20kW、20～30kW、30kW以上に区分されます。予測期間中、10-20 kWセグメントが2番目に大きなセグメントになる見込み。消費者は、特に厳しい気象条件下でも安定した信頼性の高い運転が可能な暖房ソリューションを求めています。高度なエンジニアリングと製造プロセスにより、最新の10～20kWヒートポンプは、頻繁な使用とさまざまな環境ストレスの厳しさに耐えられるように作られています。この信頼性の向上により、故障や誤作動の可能性が低くなり、消費者に安心を提供します。

“欧州：ヒートポンプ市場で最も急成長する地域となる見込み”
予測期間中、欧州はヒートポンプ市場において最も急成長する地域となる見込みです。電気を使って環境から熱を取り出すヒートポンプは、特に太陽光発電のような再生可能エネルギー源と組み合わせた場合、運用コストを大幅に削減できます。さらに、エネルギー安全保障に関する懸念や、野心的な気候変動目標の達成に向けた動きが、ヒートポンプの魅力をさらに確固たるものにしています。ヨーロッパ諸国が輸入化石燃料への依存を減らし、よりクリーンなエネルギー源への移行を目指す中、ヒートポンプは実行可能で効率的なソリューションです。政府の奨励策、技術の進歩、環境面での利点に対する意識の高まりにより、ヨーロッパにおける暖房の未来は、ヒートポンプを筆頭に、ますます電化され、持続可能なものになっていくと思われます。

主要企業の内訳
重要な定性的・定量的情報を入手・検証し、将来の市場展望を評価するため、様々な主要産業参加者、主題専門家、主要市場プレイヤーのCレベル幹部、産業コンサルタントなどの専門家に詳細なインタビューを実施しました。
一次インタビューの分布は以下の通り：
　企業タイプ別 ティア1 60%、ティア2 25%、ティア3 15%
　役職別 階層別：Cレベル35％、ディレクターレベル25％、その他40%
　地域別 米州13％、欧州16％、アジア太平洋56％、中東・アフリカ15%
　注：その他には、営業マネージャー、エンジニア、地域マネージャーを含みます。
　注：企業の階層は、2022年時点の総収入に基づいて定義されています。ティア1：10億米ドル超、ティア2：5億米ドルから10億米ドル、ティア3：5億米ドル未満

ヒートポンプ市場は、幅広い地域で存在感を示す少数の大手企業によって支配されています。ヒートポンプ市場の大手企業は、SAMSUNG（韓国）、株式会社デンソー（日本）、Midea（中国）、パナソニックホールディングス株式会社（日本）、三菱電機株式会社（日本）です。 各社が採用した主な戦略には、新製品の発売、契約、協定、パートナーシップ、ジョイントベンチャー、買収、投資＆拡張などがあります。

調査範囲
本調査レポートは、世界のヒートポンプ市場を技術、タイプ、冷媒、定格容量、エンドユーザー、用途、地域別に定義、記述、予測しています。また、市場の詳細な質的・量的分析も行っています。主要な市場促進要因、阻害要因、機会、課題を包括的にレビューしています。また、市場の様々な重要な側面もカバーしています。競争環境、市場ダイナミクス、金額ベースの市場予測、ヒートポンプ市場の将来動向などの分析が含まれます。

レポート購入の主な利点
- ヒートポンプ市場への投資の影響を増幅させる国内および国際レベルでの政府の取り組み。強力な政策枠組みは、多くの場合、財政的インセンティブ、補助金、規制支援を伴い、ヒートポンプの普及を促進します。初期費用が高い、インフラが整っていないなどの要因が、市場の成長を抑制しています。再生可能エネルギー源へのエネルギー転換の進展と急速な都市化は、ヒートポンプ市場で事業を展開するプレーヤーに有利な機会をもたらすと期待されています。
- 製品開発/イノベーション： ヒートポンプ市場は、環境に優しく、安全で持続可能な製品に対する需要の高まりに後押しされ、大幅な製品開発と技術革新が行われています。各企業は、様々な用途向けの高度なヒートポンプ技術の開発に投資しています。
- 市場開発： SAMSUNGは、英国のスマートビルディング企業であるEtopia社と提携し、英国の住宅部門にヒートポンプを導入することを発表しました。SAMSUNGは、英国における5年間のスマートホームプロジェクトの一環として、6,000台のTDSプラスヒートポンプを展開します。
- 市場の多様化 パナソニックホールディングスは、2026年3月期までにチェコ工場に約1億5,000万米ドルを投資し、欧州で需要が拡大している空対水ヒートポンプ（A2W）の生産を強化すると発表しました。
- 競争力評価： SAMSUNG（韓国）、株式会社デンソー（日本）、Midea（中国）、パナソニックホールディングス株式会社（日本）、三菱電機株式会社（日本）など、ヒートポンプ市場における主要企業の市場シェア、成長戦略、サービス内容を詳細に評価しています。

1 はじめに
2 調査方法
3 エグゼクティブサマリー
4 プレミアムインサイト
5 市場概要
6 ヒートポンプ市場：種類別
7 ヒートポンプ市場：技術別
8 ヒートポンプ市場：定格容量別
9 ヒートポンプ市場：冷媒別
10 ヒートポンプ市場：用途別
11ヒートポンプ市場：エンドユーザー別
12 ヒートポンプ市場：地域別
13 競争状況
14 企業プロファイル
15 付録

❖ レポートの目次 ❖

1 INTRODUCTION 43
1.1 STUDY OBJECTIVES 43
1.2 MARKET DEFINITION 44
1.2.1 INCLUSIONS AND EXCLUSIONS 44
1.3 STUDY SCOPE 45
1.3.1 MARKETS COVERED 45
1.3.2 REGIONAL SCOPE 46
1.3.3 YEARS CONSIDERED 46
1.3.4 CURRENCY CONSIDERED 47
1.3.5 UNITS CONSIDERED 47
1.4 LIMITATIONS 47
1.5 STAKEHOLDERS 47
1.6 SUMMARY OF CHANGES 47
1.7 IMPACT OF RECESSION 48
2 RESEARCH METHODOLOGY 49
2.1 RESEARCH DATA 49
FIGURE 1 HEAT PUMP MARKET: RESEARCH DESIGN 50
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 51
FIGURE 2 DATA TRIANGULATION 51
2.3 PRIMARY AND SECONDARY RESEARCH 52
2.3.1 SECONDARY DATA 52
TABLE 1 LIST OF MAJOR SECONDARY SOURCES 52
2.3.1.1 Key secondary sources 52
2.3.2 PRIMARY DATA 53
TABLE 2 LIST OF PRIMARY INTERVIEW PARTICIPANTS 53
2.3.2.1 Key industry insights 53
2.3.2.2 Breakdown of primaries 54
FIGURE 3 BREAKDOWN OF PRIMARIES: BY COMPANY TYPE, DESIGNATION, AND REGION 54
2.4 MARKET SIZE ESTIMATION 55
2.4.1 BOTTOM-UP APPROACH 55
FIGURE 4 HEAT PUMP MARKET: BOTTOM-UP APPROACH 55
2.4.2 TOP-DOWN APPROACH 56
FIGURE 5 HEAT PUMP MARKET: TOP-DOWN APPROACH 56
2.5 DEMAND-SIDE ANALYSIS 57
2.5.1 DEMAND-SIDE METRICS 57
FIGURE 6 METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR HEAT PUMPS 57
2.5.1.1 Assumptions for demand-side analysis 57
2.5.1.2 Calculations for demand-side analysis 58
2.6 SUPPLY-SIDE ANALYSIS 58
2.6.1 SUPPLY-SIDE METRICS 58
FIGURE 7 KEY FACTORS CONSIDERED TO ASSESS SUPPLY OF HEAT PUMPS 58
FIGURE 8 HEAT PUMP MARKET: SUPPLY-SIDE ANALYSIS 59
2.6.1.1 Calculations for supply-side analysis 59
2.6.1.2 Assumptions for supply-side analysis 59
2.7 FORECAST 59
2.8 RISK ASSESSMENT 60
2.9 RECESSION IMPACT 60
3 EXECUTIVE SUMMARY 61
TABLE 3 HEAT PUMP MARKET SNAPSHOT 61
FIGURE 9 ASIA PACIFIC HELD LARGEST SHARE OF HEAT PUMP MARKET IN 2023 62
FIGURE 10 AIR-TO-AIR HEAT PUMPS SEGMENT TO LEAD HEAT PUMP MARKET IN 2029 63
FIGURE 11 NON-REVERSIBLE HEAT PUMPS SEGMENT TO HOLD LARGER SHARE OF HEAT PUMP MARKET IN 2029 63
FIGURE 12 R410A SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029 64
FIGURE 13 UP TO 10 KW SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029 64
FIGURE 14 RESIDENTIAL SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029 65
FIGURE 15 DISTRICT AND SPACE HEATING SEGMENT TO DOMINATE HEAT PUMP MARKET BY HEATING APPLICATION IN 2029 65
4 PREMIUM INSIGHTS 66
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HEAT PUMP MARKET 66
FIGURE 16 INTEGRATION OF INTERNET OF THINGS (IOT) TECHNOLOGY INTO HEAT PUMPS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS 66
4.2 HEAT PUMP MARKET, BY REGION 67
FIGURE 17 EUROPEAN HEAT PUMP MARKET TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD 67
4.3 HEAT PUMP MARKET, BY TECHNOLOGY 67
FIGURE 18 AIR-TO-AIR HEAT PUMPS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029 67
4.4 HEAT PUMP MARKET, BY TYPE 68
FIGURE 19 NON-REVERSIBLE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2029 68
4.5 HEAT PUMP MARKET, BY REFRIGERANT 68
FIGURE 20 R410A SEGMENT TO HOLD LARGER MARKET SHARE IN 2029 68
4.6 HEAT PUMP MARKET, BY RATED CAPACITY 68
FIGURE 21 UP TO 10 KW SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029 68
4.7 HEAT PUMP MARKET, BY END USER 69
FIGURE 22 RESIDENTIAL SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029 69
 
4.8 HEAT PUMP MARKET, BY APPLICATION 69
FIGURE 23 HEATING SEGMENT TO DOMINATE HEAT PUMP MARKET IN 2029 69
5 MARKET OVERVIEW 70
5.1 INTRODUCTION 70
5.2 MARKET DYNAMICS 70
FIGURE 24 HEAT PUMP MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 70
5.2.1 DRIVERS 71
5.2.1.1 Growing use of heat pumps beyond traditional heating and cooling applications 71
5.2.1.2 Capability of heat pumps to be integrated with renewable energy systems 71
5.2.1.3 Implementation of government policies and initiatives to promote use of energy-efficient heating and cooling systems 72
5.2.2 RESTRAINTS 72
5.2.2.1 Difficulties in installation and unaesthetic appearance 72
5.2.2.2 Limited public awareness regarding benefits of heat pumps and lack of knowledge about heat pump standards among contractors 73
5.2.3 OPPORTUNITIES 73
5.2.3.1 High focus of manufacturers on integrating IoT, ML, and AI technologies into heat pumps 73
TABLE 4 BENEFITS OF SMART THERMOSTATS OFFERED BY KEY PLAYERS 73
5.2.3.2 Positive outlook toward use of geothermal energy 74
5.2.3.3 Increased sales of heat pumps in Europe 74
FIGURE 25 ANNUAL SALES GROWTH OF HEAT PUMPS WORLDWIDE AND SELECTED MARKETS BETWEEN 2021 AND 2022 75
5.2.4 CHALLENGES 75
5.2.4.1 Dependency on energy source for heat pump efficiency 75
5.2.4.2 High installation cost 75
TABLE 5 AVERAGE HEAT PUMP INSTALLATION COST, BY TYPE (USD) 76
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 76
FIGURE 26 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 76
5.4 PRICING ANALYSIS 77
5.4.1 AVERAGE SELLING PRICE TREND OF HEAT PUMPS, BY REGION 77
TABLE 6 INDICATIVE PRICING ANALYSIS OF HEAT PUMPS, BY REGION, 2023–2029 (USD) 77
FIGURE 27 INDICATIVE PRICING TREND OF HEAT PUMPS, BY REGION, 2019–2029 (USD) 77
5.4.2 INDICATIVE PRICING ANALYSIS OF HEAT PUMPS, BY TECHNOLOGY 78
TABLE 7 INDICATIVE PRICING ANALYSIS OF HEAT PUMPS, BY TECHNOLOGY, 2023–2029 (USD) 78
FIGURE 28 INDICATIVE PRICING TREND OF HEAT PUMPS, BY TECHNOLOGY, 2019–2029 (USD) 78
 
5.5 SUPPLY CHAIN ANALYSIS 79
FIGURE 29 HEAT PUMP MARKET: SUPPLY CHAIN ANALYSIS 79
5.5.1 RAW MATERIAL SUPPLIERS 79
5.5.2 ORIGINAL EQUIPMENT MANUFACTURERS (OEMS) 79
5.5.3 DISTRIBUTORS 79
5.5.4 END USERS 79
5.6 ECOSYSTEM/MARKET MAP 80
FIGURE 30 HEAT PUMP MARKET MAP 80
TABLE 8 COMPANIES AND THEIR ROLES IN HEAT PUMP ECOSYSTEM 80
FIGURE 31 HEAT PUMP MARKET: ECOSYSTEM MAPPING 81
5.7 REGULATORY LANDSCAPE 81
5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 81
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 81
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 82
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 82
TABLE 12 LATIN AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 82
TABLE 13 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 83
5.7.2 REGULATIONS 83
TABLE 14 HEAT PUMP MARKET: REGULATIONS 83
5.8 PATENT ANALYSIS 84
FIGURE 32 INNOVATIONS AND PATENT REGISTRATIONS, 2013–2023 84
5.8.1 LIST OF MAJOR PATENTS 84
TABLE 15 HEAT PUMP MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2018–2022 84
5.9 CASE STUDY ANALYSIS 86
5.9.1 CITY SUITES HOTEL INSTALLED DAIKIN VRV IV+ HEAT PUMP SYSTEM WITH INDIVIDUAL ROOM CONTROLS TO REDUCE ENERGY CONSUMPTION AND ENHANCE GUEST EXPERIENCE 86
5.9.1.1 Problem statement 86
5.9.1.2 Solution 86
5.9.2 INDUSTRIAL PLANT IMPLEMENTED CARRIER AQUAEDGE 19DV WATER-COOLED CHILLER WITH HEAT RECOVERY TO REVOLUTIONIZE INDUSTRIAL PROCESSES 86
5.9.2.1 Problem statement 86
5.9.2.2 Solution 86
5.9.3 HOTEL DEPLOYED A. O. SMITH VOLTEX HYBRID ELECTRIC HEAT PUMP WATER HEATER TO REDUCE ENERGY CONSUMPTION AND COST 86
5.9.3.1 Problem statement 86
5.9.3.2 Solution 86
5.10 TECHNOLOGY ANALYSIS 87
5.10.1 KEY TECHNOLOGIES 87
5.10.1.1 Photovoltaic-thermal solar-assisted heat pump systems 87
5.10.1.2 Hybrid heat pumps 87
5.10.1.3 Air-to-air heat pumps 87
5.10.1.4 Air-to-water heat pumps 87
5.10.1.5 Water-source heat pumps 87
5.10.1.6 Ground-source heat pumps 87
5.10.1.7 Solid-state heat pumps 88
5.10.2 COMPLEMENTARY TECHNOLOGIES 88
5.10.2.1 Thermal storage 88
5.10.2.2 Smart controls and automation technologies 88
5.10.3 ADJACENT TECHNOLOGIES 88
5.10.3.1 Heat recovery ventilation (HRV) systems 88
5.10.3.2 Internet of Things (IoT) devices 89
5.10.4 SEASONAL COEFFICIENT OF PERFORMANCE (SCOP) 89
TABLE 16 SCOP OF KEY PLAYERS 89
5.11 KEY CONFERENCES AND EVENTS, 2024 89
TABLE 17 HEAT PUMP MARKET: KEY CONFERENCES AND EVENTS, 2023–2024 89
5.12 TRADE ANALYSIS 90
5.12.1 EXPORT SCENARIO 90
TABLE 18 EXPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND) 90
FIGURE 33 EXPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND) 91
5.12.2 IMPORT SCENARIO 91
TABLE 19 IMPORT SCENARIO FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2022 (USD THOUSAND) 91
FIGURE 34 IMPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2020–2022 (USD THOUSAND) 92
5.13 PORTER’S FIVE FORCES ANALYSIS 92
FIGURE 35 HEAT PUMP MARKET: PORTER’S FIVE FORCES ANALYSIS 93
TABLE 20 HEAT PUMP MARKET: PORTER’S FIVE FORCES ANALYSIS 93
5.13.1 THREAT OF SUBSTITUTES 93
5.13.2 BARGAINING POWER OF SUPPLIERS 94
5.13.3 BARGAINING POWER OF BUYERS 94
5.13.4 THREAT OF NEW ENTRANTS 94
5.13.5 INTENSITY OF COMPETITIVE RIVALRY 94
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 95
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 95
FIGURE 36 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS, BY END USER 95
TABLE 21 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER (%) 95
5.14.2 BUYING CRITERIA 95
FIGURE 37 KEY BUYING CRITERIA, BY END USER 95
TABLE 22 KEY BUYING CRITERIA, BY END USER 96
5.15 INVESTMENT AND FUNDING SCENARIO 96
FIGURE 38 INVESTMENT AND FUNDING SCENARIO 96
6 HEAT PUMP MARKET, BY TYPE 97
6.1 INTRODUCTION 98
FIGURE 39 HEAT PUMP MARKET, BY TYPE, 2023 98
TABLE 23 HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION) 98
TABLE 24 HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION) 99
6.2 REVERSIBLE HEAT PUMPS 99
6.2.1 IMPLEMENTATION OF ENERGY EFFICIENCY REGULATIONS TO MITIGATE CLIMATE CHANGE AND PROMOTE SUSTAINABLE DEVELOPMENT TO DRIVE DEMAND 99
TABLE 25 REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 99
TABLE 26 REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 100
6.3 NON-REVERSIBLE HEAT PUMPS 100
6.3.1 LOW INITIAL INSTALLATION COSTS TO DRIVE DEMAND 100
TABLE 27 NON-REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 100
TABLE 28 NON-REVERSIBLE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 101
7 HEAT PUMP MARKET, BY TECHNOLOGY 102
7.1 INTRODUCTION 103
FIGURE 40 HEAT PUMP MARKET, BY TECHNOLOGY, 2023 103
TABLE 29 HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION) 103
TABLE 30 HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION) 104
TABLE 31 HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (MILLION UNITS) 104
TABLE 32 HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (MILLION UNITS) 105
7.2 AIR-TO-AIR HEAT PUMPS 105
7.2.1 RISING PREFERENCE FOR ENERGY-EFFICIENT AND ENVIRONMENTALLY FRIENDLY HEATING AND COOLING SOLUTIONS TO DRIVE DEMAND 105
TABLE 33 AIR-TO-AIR HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 105
TABLE 34 AIR-TO-AIR HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 106
7.3 AIR-TO-WATER HEAT PUMPS 106
7.3.1 RISING FOCUS ON CURBING GREENHOUSE GAS EMISSIONS TO DRIVE DEMAND 106
TABLE 35 AIR-TO-WATER HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 106
TABLE 36 AIR-TO-WATER HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 107
7.4 WATER-SOURCE HEAT PUMPS 107
7.4.1 HIGH OPERATIONAL EFFICIENCY OF WATER-SOURCE HEAT PUMPS TO BOOST ADOPTION 107
TABLE 37 WATER-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 107
TABLE 38 WATER-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 108
7.5 GROUND-SOURCE (GEOTHERMAL) HEAT PUMPS 108
7.5.1 GOVERNMENT-LED SUBSIDIES FOR BOOSTING DEPLOYMENT OF GEOTHERMAL HEAT PUMPS TO DRIVE MARKET 108
TABLE 39 GROUND-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 108
TABLE 40 GROUND-SOURCE HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 109
7.6 HYBRID HEAT PUMPS 109
7.6.1 TECHNOLOGICAL ADVANCEMENTS AND SEAMLESS INTEGRATION WITH EXISTING INFRASTRUCTURE TO DRIVE DEMAND 109
TABLE 41 HYBRID HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 109
TABLE 42 HYBRID HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 110
7.7 PHOTOVOLTAIC-THERMAL (PVT) HEAT PUMPS 110
7.7.1 INCLINATION TOWARD USE OF AIR AS RENEWABLE ENERGY SOURCE TO DRIVE MARKET 110
TABLE 43 PHOTOVOLTAIC-THERMAL (PVT) HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 110
TABLE 44 PHOTOVOLTAIC-THERMAL (PVT) HEAT PUMPS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 111
8 HEAT PUMP MARKET, BY RATED CAPACITY 112
8.1 INTRODUCTION 113
FIGURE 41 HEAT PUMP MARKET, BY RATED CAPACITY, 2023 113
TABLE 45 HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 113
TABLE 46 HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 114
8.2 UP TO 10 KW 114
8.2.1 SUITABILITY FOR SINGLE-FAMILY HOUSES TO DRIVE DEMAND 114
TABLE 47 UP TO 10 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 114
TABLE 48 UP TO 10 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 115
8.3 10–20 KW 115
8.3.1 IMPROVED ENERGY SAVING, HIGH EFFICIENCY, AND LOW CARBON FOOTPRINT TO FUEL DEMAND 115
TABLE 49 10–20 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 115
TABLE 50 10–20 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 116
8.4 20–30 KW 116
8.4.1 GROWING USE IN COMMERCIAL SECTOR TO DRIVE MARKET 116
TABLE 51 20–30 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 116
TABLE 52 20–30 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 117
8.5 ABOVE 30 KW 117
8.5.1 HIGH USE IN FOOD & BEVERAGES, PULP & PAPER, CHEMICALS, AND PETROCHEMICALS INDUSTRIES TO DRIVE MARKET 117
TABLE 53 ABOVE 30 KW: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 117
TABLE 54 ABOVE 30 KW: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 118
9 HEAT PUMP MARKET, BY REFRIGERANT 119
9.1 INTRODUCTION 120
FIGURE 42 HEAT PUMP MARKET, BY REFRIGERANT, 2023 120
TABLE 55 HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION) 120
TABLE 56 HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION) 121
9.2 R410A 121
9.2.1 LOWEST CONTRIBUTION OF R410A REFRIGERANTS TO OZONE DEPLETION TO DRIVE DEMAND 121
TABLE 57 R410A: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 121
TABLE 58 R410A: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 122
9.3 R407C 122
9.3.1 INCREASED USE OF ECO-FRIENDLY REFRIGERANTS IN HEAT PUMPS TO FUEL DEMAND 122
TABLE 59 R407C: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 122
TABLE 60 R407C: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 123
9.4 R744 123
9.4.1 HIGH VOLUMETRIC COOLING CAPACITY OF R744 REFRIGERANTS TO DRIVE DEMAND 123
TABLE 61 R744: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 123
TABLE 62 R744: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 124
9.5 R290 124
9.5.1 EXPANDING RETROFIT MARKET FOR HEATING AND COOLING SYSTEMS TO DRIVE DEMAND 124
TABLE 63 R290: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 124
TABLE 64 R290: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 125
9.6 R717 125
9.6.1 EXCELLENT THERMODYNAMIC PROPERTIES AND ENVIRONMENTAL FRIENDLINESS TO DRIVE DEMAND 125
TABLE 65 R717: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 125
TABLE 66 R717: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 126
9.7 OTHER REFRIGERANTS 126
TABLE 67 OTHER REFRIGERANTS: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 126
TABLE 68 OTHER REFRIGERANTS: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 127
10 HEAT PUMP MARKET, BY APPLICATION 128
10.1 INTRODUCTION 129
FIGURE 43 HEAT PUMP MARKET, BY APPLICATION, 2023 129
TABLE 69 HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION) 129
TABLE 70 HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 129
10.2 HEATING 130
TABLE 71 HEATING: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION) 130
TABLE 72 HEATING: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 130
TABLE 73 HEATING: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 131
TABLE 74 HEATING: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 131
10.2.1 WATER HEATING 131
10.2.1.1 Implementation of regulations and standards to improve energy efficiency of water heaters to drive demand 131
TABLE 75 WATER HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2019–2023 (USD MILLION) 132
TABLE 76 WATER HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2024–2029 (USD MILLION) 132
10.2.2 DISTRICT AND SPACE HEATING 132
10.2.2.1 Stringent building codes and standards to fuel demand for energy-efficient heating systems and drive market 132
TABLE 77 DISTRICT AND SPACE HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2019–2023 (USD MILLION) 133
TABLE 78 DISTRICT AND SPACE HEATING: HEAT PUMP MARKET FOR HEATING, BY REGION, 2024–2029 (USD MILLION) 133
10.3 HEATING AND COOLING 133
10.3.1 LONG-TERM COST SAVINGS ASSOCIATED WITH USE OF HEAT PUMPS FOR HEATING AND COOLING PURPOSES TO DRIVE DEMAND 133
TABLE 79 HEAT AND COOLING: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 134
TABLE 80 HEATING AND COOLING: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 134
11 HEAT PUMP MARKET, BY END USER 135
11.1 INTRODUCTION 136
FIGURE 44 HEAT PUMP MARKET, BY END USER, 2023 136
TABLE 81 HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 136
TABLE 82 HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 137
11.2 RESIDENTIAL 137
11.2.1 GOVERNMENT INITIATIVES TO PROMOTE ENERGY EFFICIENCY TO DRIVE DEMAND 137
TABLE 83 RESIDENTIAL: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 137
TABLE 84 RESIDENTIAL: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 138
 
11.3 COMMERCIAL 138
11.3.1 RISE IN HIGH-TEMPERATURE HEATING REQUIREMENTS TO FUEL DEMAND 138
TABLE 85 COMMERCIAL: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 139
TABLE 86 COMMERCIAL: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 139
11.4 INDUSTRIAL 139
11.4.1 GROWING GLOBAL EMPHASIS ON SUSTAINABILITY AND REDUCING CARBON FOOTPRINTS TO DRIVE DEMAND 139
TABLE 87 INDUSTRIAL: HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 140
TABLE 88 INDUSTRIAL: HEAT PUMP MARKET, BY REGION, 2024–2029 (USD MILLION) 140
12 HEAT PUMP MARKET, BY REGION 141
12.1 INTRODUCTION 142
FIGURE 45 EUROPEAN HEAT PUMP MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 142
FIGURE 46 HEAT PUMP MARKET, BY REGION, 2023 143
TABLE 89 HEAT PUMP MARKET, BY REGION, 2019–2023 (USD MILLION) 143
TABLE 90 HEAT PUMP MARKET, BY REGION, 2023–2028 (USD MILLION) 143
TABLE 91 HEAT PUMP MARKET, BY REGION, 2019–2023 (MILLION UNITS) 144
TABLE 92 HEAT PUMP MARKET, BY REGION, 2024–2029 (MILLION UNITS) 144
12.2 ASIA PACIFIC 144
FIGURE 47 ASIA PACIFIC: HEAT PUMP MARKET SNAPSHOT 145
12.2.1 ASIA PACIFIC HEAT PUMP MARKET: RECESSION IMPACT 145
12.2.2 BY TECHNOLOGY 146
TABLE 93 ASIA PACIFIC: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION) 146
TABLE 94 ASIA PACIFIC: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION) 146
12.2.3 BY TYPE 146
TABLE 95 ASIA PACIFIC: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION) 146
TABLE 96 ASIA PACIFIC: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION) 147
12.2.4 BY REFRIGERANT 147
TABLE 97 ASIA PACIFIC: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION) 147
TABLE 98 ASIA PACIFIC: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION) 147
12.2.5 BY RATED CAPACITY 148
TABLE 99 ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 148
TABLE 100 ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 148
12.2.6 BY END USER 148
TABLE 101 ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 148
TABLE 102 ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 149
12.2.7 BY APPLICATION 149
TABLE 103 ASIA PACIFIC: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION) 149
TABLE 104 ASIA PACIFIC: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 149
TABLE 105 ASIA PACIFIC: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION) 149
TABLE 106 ASIA PACIFIC: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION) 150
12.2.8 BY COUNTRY 150
TABLE 107 ASIA PACIFIC: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 150
TABLE 108 ASIA PACIFIC: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 150
12.2.8.1 China 151
12.2.8.1.1 Government focus on reducing pollution and increasing use of energy-efficient systems to fuel demand 151
12.2.8.2 By rated capacity 151
TABLE 109 CHINA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 151
TABLE 110 CHINA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 152
12.2.8.2.1 By End User 152
TABLE 111 CHINA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 152
TABLE 112 CHINA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 152
12.2.8.3 India 152
12.2.8.3.1 Rising use of renewable energy sources and increasing focus on minimizing carbon footprint to fuel market growth 152
12.2.8.3.2 By Rated Capacity 153
TABLE 113 INDIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 153
TABLE 114 INDIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 153
12.2.8.3.3 By End User 153
TABLE 115 INDIA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 153
TABLE 116 INDIA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 154
12.2.8.4 Japan 154
12.2.8.4.1 Ongoing energy conservation initiatives by government to drive market 154
12.2.8.4.2 By Rated Capacity 154
TABLE 117 JAPAN: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 154
TABLE 118 JAPAN: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 155
12.2.8.4.3 By End User 155
TABLE 119 JAPAN: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 155
TABLE 120 JAPAN: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 155
12.2.8.5 South Korea 155
12.2.8.5.1 High demand for energy-efficient and environmentally friendly heating solutions to drive market 155
12.2.8.5.2 By Rated Capacity 156
TABLE 121 SOUTH KOREA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 156
TABLE 122 SOUTH KOREA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 156
12.2.8.5.3 By End User 156
TABLE 123 SOUTH KOREA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 156
TABLE 124 SOUTH KOREA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 157
12.2.8.6 Australia 157
12.2.8.6.1 Favorable environmental conditions and focus on boosting renewable energy sector to drive market 157
12.2.8.6.2 By Rated Capacity 157
TABLE 125 AUSTRALIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 157
TABLE 126 AUSTRALIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 158
12.2.8.6.3 By End User 158
TABLE 127 AUSTRALIA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 158
TABLE 128 AUSTRALIA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 158
12.2.8.7 Rest of Asia Pacific 158
12.2.8.7.1 By Rated Capacity 159
TABLE 129 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 159
TABLE 130 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 159
12.2.8.7.2 By End User 159
TABLE 131 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 159
TABLE 132 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 160
12.3 EUROPE 160
FIGURE 48 EUROPE: HEAT PUMP MARKET SNAPSHOT 161
12.3.1 EUROPEAN HEAT PUMP MARKET: RECESSION IMPACT 161
12.3.2 BY TECHNOLOGY 162
TABLE 133 EUROPE: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION) 162
TABLE 134 EUROPE: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION) 162
12.3.3 BY TYPE 162
TABLE 135 EUROPE: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION) 162
TABLE 136 EUROPE: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION) 163
12.3.4 BY REFRIGERANT 163
TABLE 137 EUROPE: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION) 163
TABLE 138 EUROPE: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION) 163
12.3.5 BY RATED CAPACITY 164
TABLE 139 EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 164
TABLE 140 EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 164
12.3.6 BY END USER 164
TABLE 141 EUROPE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 164
TABLE 142 EUROPE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 165
12.3.7 BY APPLICATION 165
TABLE 143 EUROPE: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION) 165
TABLE 144 EUROPE: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 165
TABLE 145 EUROPE: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION) 165
TABLE 146 EUROPE: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION) 166
12.3.8 BY COUNTRY 166
TABLE 147 EUROPE: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 166
TABLE 148 EUROPE: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 166
12.3.8.1 France 167
12.3.8.1.1 Increased use of heating and cooling systems in residential, commercial, and industrial sectors to drive market 167
12.3.8.1.2 By Rated Capacity 167
TABLE 149 FRANCE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 167
TABLE 150 FRANCE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 168
12.3.8.1.3 By End User 168
TABLE 151 FRANCE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 168
TABLE 152 FRANCE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 168
12.3.8.2 Italy 169
12.3.8.2.1 Government-led schemes to increase installation of heat pumps to drive market 169
12.3.8.2.2 By Rated Capacity 169
TABLE 153 ITALY: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 169
TABLE 154 ITALY: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 170
12.3.8.2.3 By End User 170
TABLE 155 ITALY: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 170
TABLE 156 ITALY: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 170
12.3.8.3 Germany 171
12.3.8.3.1 Government focus on boosting adoption of heat pumps powered by renewable electricity for residential use to drive market 171
12.3.8.3.2 By Rated Capacity 171
TABLE 157 GERMANY: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 171
TABLE 158 GERMANY: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 171
12.3.8.3.3 By End User 172
TABLE 159 GERMANY: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 172
TABLE 160 GERMANY: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 172
12.3.8.4 UK 172
12.3.8.4.1 Expansion of residential sector and rise in domestic renewable heat generation to drive market 172
12.3.8.4.2 By Rated Capacity 173
TABLE 161 UK: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 173
TABLE 162 UK: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 173
12.3.8.4.3 By End User 173
TABLE 163 UK: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 173
TABLE 164 UK: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 174
12.3.8.5 Spain 174
12.3.8.5.1 Growing need to save energy by utilizing advanced technologies to drive demand 174
12.3.8.5.2 By Rated Capacity 174
TABLE 165 SPAIN: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 174
TABLE 166 SPAIN: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 175
12.3.8.5.3 By End User 175
TABLE 167 SPAIN: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 175
TABLE 168 SPAIN: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 175
12.3.8.6 Rest of Europe 175
12.3.8.6.1 By Rated Capacity 176
TABLE 169 REST OF EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 176
TABLE 170 REST OF EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 176
12.3.8.6.2 By End User 176
TABLE 171 REST OF EUROPE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 176
TABLE 172 REST OF EUROPE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 177
 
12.4 NORTH AMERICA 177
12.4.1 NORTH AMERICAN HEAT PUMP MARKET: RECESSION IMPACT 177
12.4.2 BY TECHNOLOGY 177
TABLE 173 NORTH AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION) 177
TABLE 174 NORTH AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION) 178
12.4.3 BY TYPE 178
TABLE 175 NORTH AMERICA: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION) 178
TABLE 176 NORTH AMERICA: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION) 178
12.4.4 BY REFRIGERANT 179
TABLE 177 NORTH AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION) 179
TABLE 178 NORTH AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION) 179
12.4.5 BY RATED CAPACITY 179
TABLE 179 NORTH AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 179
TABLE 180 NORTH AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 180
12.4.6 BY END USER 180
TABLE 181 NORTH AMERICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 180
TABLE 182 NORTH AMERICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 180
12.4.7 BY APPLICATION 180
TABLE 183 NORTH AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION) 180
TABLE 184 NORTH AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 181
TABLE 185 NORTH AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION) 181
TABLE 186 NORTH AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION) 181
12.4.8 BY COUNTRY 181
TABLE 187 NORTH AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 181
TABLE 188 NORTH AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 182
12.4.8.1 US 182
12.4.8.1.1 Increased demand for energy-efficient water heating and cooling systems in residential and commercial sectors to drive market 182
12.4.8.1.2 By Rated Capacity 182
TABLE 189 US: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 182
TABLE 190 US: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 183
12.4.8.1.3 By End User 183
TABLE 191 US: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 183
TABLE 192 US: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 183
12.4.8.2 Canada 183
12.4.8.2.1 Rising focus on adopting innovative technologies to reduce energy wastage and loss to drive demand 183
12.4.8.2.2 By Rated Capacity 184
TABLE 193 CANADA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 184
TABLE 194 CANADA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 184
12.4.8.2.3 By End User 184
TABLE 195 CANADA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 184
TABLE 196 CANADA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 185

12.5 MIDDLE EAST & AFRICA 185
12.5.1 MIDDLE EASTERN & AFRICAN HEAT PUMP MARKET: RECESSION IMPACT 185
12.5.2 BY TECHNOLOGY 185
TABLE 197 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION) 185
TABLE 198 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION) 186
12.5.3 BY TYPE 186
TABLE 199 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION) 186
TABLE 200 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION) 186
12.5.4 BY REFRIGERANT 187
TABLE 201 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION) 187
TABLE 202 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION) 187
12.5.5 BY RATED CAPACITY 187
TABLE 203 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 187
TABLE 204 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 188
12.5.6 BY END USER 188
TABLE 205 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 188
TABLE 206 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 188
12.5.7 BY APPLICATION 189
TABLE 207 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION) 189
TABLE 208 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 189
TABLE 209 MIDDLE EAST & AFRICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION) 189
TABLE 210 MIDDLE EAST & AFRICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION) 189
12.5.8 BY COUNTRY 190
TABLE 211 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 190
TABLE 212 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 190
TABLE 213 GCC COUNTRIES: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 190
TABLE 214 GCC COUNTRIES: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 191
12.5.8.1 GCC Countries 191
12.5.8.1.1 Saudi Arabia 191
12.5.8.1.1.1 Increasing investments in industrial sector to boost demand 191
12.5.8.1.1.2 By Rated Capacity 191
TABLE 215 SAUDI ARABIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 191
TABLE 216 SAUDI ARABIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 192
12.5.8.1.1.3 By End User 192
TABLE 217 SAUDI ARABIA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 192
TABLE 218 SAUDI ARABIA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 192
12.5.8.1.2 UAE 192
12.5.8.1.2.1 Growing social consciousness about sustainable and environmentally friendly practices to fuel demand 192
12.5.8.1.2.2 By Rated Capacity 193
TABLE 219 UAE: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 193
TABLE 220 UAE: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 193
12.5.8.1.2.3 By End User 194
TABLE 221 UAE: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 194
TABLE 222 UAE: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 194
12.5.8.1.3 Rest of GCC countries 194
12.5.8.1.3.1 By Rated Capacity 195
TABLE 223 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 195
TABLE 224 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 195
12.5.8.1.3.2 By End User 195
TABLE 225 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 195
TABLE 226 REST OF GCC COUNTRIES: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 196
 
12.5.8.2 South Africa 196
12.5.8.2.1 Increasing investments in different projects to drive demand 196
12.5.8.2.2 By Rated Capacity 196
TABLE 227 SOUTH AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 196
TABLE 228 SOUTH AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 197
12.5.8.2.3 By End User 197
TABLE 229 SOUTH AFRICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 197
TABLE 230 SOUTH AFRICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 197
12.5.8.3 Rest of Middle East & Africa 197
12.5.8.3.1 By Rated Capacity 198
TABLE 231 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 198
TABLE 232 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 198
12.5.8.3.2 By End User 199
TABLE 233 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 199
TABLE 234 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 199
12.5.9 LATIN AMERICA 199
12.5.10 LATIN AMERICAN HEAT PUMP MARKET: RECESSION IMPACT 199
12.5.11 BY TECHNOLOGY 200
TABLE 235 LATIN AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2019–2023 (USD MILLION) 200
TABLE 236 LATIN AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2024–2029 (USD MILLION) 200
12.5.12 BY TYPE 200
TABLE 237 LATIN AMERICA: HEAT PUMP MARKET, BY TYPE, 2019–2023 (USD MILLION) 200
TABLE 238 LATIN AMERICA: HEAT PUMP MARKET, BY TYPE, 2024–2029 (USD MILLION) 201
12.5.13 BY REFRIGERANT 201
TABLE 239 LATIN AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2019–2023 (USD MILLION) 201
TABLE 240 LATIN AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2024–2029 (USD MILLION) 201
12.5.14 BY RATED CAPACITY 202
TABLE 241 LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 202
TABLE 242 LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 202
12.5.15 BY END USER 202
TABLE 243 LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 202
TABLE 244 LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 203
12.5.16 BY APPLICATION 203
TABLE 245 LATIN AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2019–2023 (USD MILLION) 203
TABLE 246 LATIN AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 203
TABLE 247 LATIN AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2019–2023 (USD MILLION) 203
TABLE 248 LATIN AMERICA: HEAT PUMP MARKET FOR HEATING, BY APPLICATION, 2024–2029 (USD MILLION) 204
12.5.17 BY COUNTRY 204
TABLE 249 LATIN AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 204
TABLE 250 LATIN AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 204
12.5.17.1 Brazil 204
12.5.17.1.1 Climate considerations to fuel adoption 204
12.5.17.1.2 By Rated Capacity 205
TABLE 251 BRAZIL: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 205
TABLE 252 BRAZIL: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 205
12.5.17.1.3 By End User 205
TABLE 253 BRAZIL: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 205
TABLE 254 BRAZIL: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 206
12.5.17.2 Mexico 206
12.5.17.2.1 Energy-saving initiatives to drive demand 206
12.5.17.2.2 By Rated Capacity 206
TABLE 255 MEXICO: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 206
TABLE 256 MEXICO: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 207
12.5.17.2.3 By End User 207
TABLE 257 MEXICO: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 207
TABLE 258 MEXICO: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 207
12.5.17.3 Rest of Latin America 207
12.5.17.3.1 By Rated Capacity 208
TABLE 259 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2019–2023 (USD MILLION) 208
TABLE 260 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2024–2029 (USD MILLION) 208
12.5.17.3.2 By End User 208
TABLE 261 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2019–2023 (USD MILLION) 208
TABLE 262 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2024–2029 (USD MILLION) 209
13 COMPETITIVE LANDSCAPE 210
13.1 OVERVIEW 210
13.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023 210
TABLE 263 HEAT PUMP MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023 210
13.3 MARKET SHARE ANALYSIS, 2022 212
FIGURE 49 HEAT PUMP MARKET: MARKET SHARE ANALYSIS, 2023 213
13.4 MARKET EVALUATION FRAMEWORK, 2019–2023 213
TABLE 265 MARKET EVALUATION FRAMEWORK, 2019–2023 213
13.5 REVENUE ANALYSIS, 2019–2023 215
FIGURE 50 HEAT PUMP MARKET: SEGMENTAL REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2019–2023 215
13.6 COMPANY VALUATION AND FINANCIAL MATRIX, 2024 216
FIGURE 51 HEAT PUMP MARKET: COMPANY VALUATION, 2024 216
FIGURE 52 HEAT PUMP MARKET: FINANCIAL MATRIX, 2024 216
13.7 COMPETITIVE SCENARIOS AND TRENDS 217
13.7.1 PRODUCT LAUNCHES 217
TABLE 266 HEAT PUMP MARKET: PRODUCT LAUNCHES, FEBRUARY 2019–DECEMBER 2023 217
13.7.2 DEALS 218
TABLE 267 HEAT PUMP MARKET: DEALS, JANUARY 2023–JANUARY 2024 218
13.7.3 EXPANSIONS 219
TABLE 268 HEAT PUMP MARKET: EXPANSIONS, MAY 2022–NOVEMBER 2023 219
13.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 220
13.8.1 STARS 220
13.8.2 EMERGING LEADERS 220
13.8.3 PERVASIVE PLAYERS 220
13.8.4 PARTICIPANTS 221
FIGURE 53 HEAT PUMP MARKET: COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 221
13.8.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 222
13.8.5.1 Product footprint 222
FIGURE 54 COMPANY PRODUCT FOOTPRINT 222
13.8.5.2 Market footprint 223
FIGURE 55 COMPANY MARKET FOOTPRINT 223
13.8.5.3 Regional footprint 224
TABLE 269 COMPANY REGION FOOTPRINT 224
13.8.5.4 Technology footprint 225
TABLE 270 COMPANY TECHNOLOGY FOOTPRINT 225
13.8.5.5 Type footprint 226
TABLE 271 COMPANY TYPE FOOTPRINT 226
13.8.5.6 Rated capacity footprint 227
TABLE 272 COMPANY RATED CAPACITY FOOTPRINT 227
13.8.5.7 Refrigerant footprint 228
TABLE 273 COMPANY REFRIGERANT FOOTPRINT 228
13.8.5.8 End user footprint 229
TABLE 274 COMPANY END USER FOOTPRINT 229
13.8.5.9 Application footprint 230
TABLE 275 COMPANY APPLICATION FOOTPRINT 230
13.9 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023 231
13.9.1 PROGRESSIVE COMPANIES 231
13.9.2 RESPONSIVE COMPANIES 231
13.9.3 DYNAMIC COMPANIES 231
13.9.4 STARTING BLOCKS 231
FIGURE 56 HEAT PUMP MARKET: COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023 232
13.9.5 COMPETITIVE BENCHMARKING: START-UPS/SMES, 2023 233
13.9.5.1 List of key start-ups/SMEs 233
TABLE 276 HEAT PUMP MARKET: LIST OF KEY START-UPS/SMES 233
13.9.5.2 Regional footprint (Start-ups/SMEs) 233
TABLE 277 START-UP/SME REGION FOOTPRINT 233
13.9.5.3 Technology footprint (Start-ups/SMEs) 234
TABLE 278 START-UP/SME TECHNOLOGY FOOTPRINT 234
13.9.5.4 Type footprint (Start-ups/SMEs) 234
TABLE 279 START-UP/SME TYPE FOOTPRINT 234
13.9.5.5 Rated capacity footprint (Start-ups/SMEs) 234
TABLE 280 START-UP/SME RATED CAPACITY FOOTPRINT 234
13.9.5.6 Refrigerant footprint (Start-ups/SMEs) 235
TABLE 281 START-UP/SME REFRIGERANT FOOTPRINT 235
13.9.5.7 End user footprint (Start-ups/SMEs) 235
TABLE 282 START-UP/SME END USER FOOTPRINT 235
13.9.5.8 Application footprint (Start-ups/SMEs) 235
TABLE 283 START-UP/SME APPLICATION FOOTPRINT 235
13.10 BRAND/PRODUCT COMPARISON 236
FIGURE 57 BRAND/PRODUCT COMPARISON 236
14 COMPANY PROFILES 237
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*
14.1 KEY PLAYERS 237
14.1.1 SAMSUNG 237
TABLE 284 SAMSUNG: COMPANY OVERVIEW 237
FIGURE 58 SAMSUNG: COMPANY SNAPSHOT 238
TABLE 285 SAMSUNG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 238
TABLE 286 SAMSUNG: PRODUCT LAUNCHES 239
TABLE 287 SAMSUNG: DEALS 239
14.1.2 DENSO CORPORATION 241
TABLE 288 DENSO CORPORATION: COMPANY OVERVIEW 241
FIGURE 59 DENSO CORPORATION: COMPANY SNAPSHOT 242
TABLE 289 DENSO CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 242
TABLE 290 DENSO CORPORATION: OTHERS 243
14.1.3 MIDEA 244
TABLE 291 MIDEA: COMPANY OVERVIEW 244
FIGURE 60 MIDEA: COMPANY SNAPSHOT 245
TABLE 292 MIDEA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 245
TABLE 293 MIDEA: PRODUCT LAUNCHES 246
TABLE 294 MIDEA: DEALS 246
TABLE 295 MIDEA: OTHERS 247
14.1.4 PANASONIC HOLDINGS CORPORATION 248
TABLE 296 PANASONIC HOLDINGS CORPORATION: COMPANY OVERVIEW 248
FIGURE 61 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT 249
TABLE 297 PANASONIC HOLDINGS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 249
TABLE 298 PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES 250
TABLE 299 PANASONIC HOLDINGS CORPORATION: DEALS 251
TABLE 300 PANASONIC HOLDINGS CORPORATION: OTHERS 251
14.1.5 MITSUBISHI ELECTRIC CORPORATION 253
TABLE 301 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW 253
FIGURE 62 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT 254
TABLE 302 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 254
TABLE 303 MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES 255
TABLE 304 MITSUBISHI ELECTRIC CORPORATION: DEALS 255
TABLE 305 MITSUBISHI ELECTRIC CORPORATION: OTHERS 256
14.1.6 LG ELECTRONICS 257
TABLE 306 LG ELECTRONICS: COMPANY OVERVIEW 257
FIGURE 63 LG ELECTRONICS: COMPANY SNAPSHOT 258
TABLE 307 LG ELECTRONICS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 258
TABLE 308 LG ELECTRONICS: PRODUCT LAUNCHES 259
TABLE 309 LG ELECTRONICS: DEALS 260
TABLE 310 LG ELECTRONICS: OTHERS 260
14.1.7 LENNOX INTERNATIONAL INC. 261
TABLE 311 LENNOX INTERNATIONAL INC.: COMPANY OVERVIEW 261
FIGURE 64 LENNOX INTERNATIONAL INC.: COMPANY SNAPSHOT 262
TABLE 312 LENNOX INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 262
TABLE 313 LENNOX INTERNATIONAL INC.: PRODUCT LAUNCHES 263
TABLE 314 LENNOX INTERNATIONAL INC.: DEALS 263
14.1.8 FUJITSU GENERAL 264
TABLE 315 FUJITSU GENERAL: COMPANY OVERVIEW 264
FIGURE 65 FUJITSU GENERAL: COMPANY SNAPSHOT 265
TABLE 316 FUJITSU GENERAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 265
TABLE 317 FUJITSU GENERAL: DEALS 266
14.1.9 DAIKIN INDUSTRIES, LTD. 267
TABLE 318 DAIKIN INDUSTRIES, LTD.: COMPANY OVERVIEW 267
FIGURE 66 DAIKIN INDUSTRIES, LTD.: COMPANY SNAPSHOT 268
TABLE 319 DAIKIN INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 268
TABLE 320 DAIKIN INDUSTRIES, LTD.: PRODUCT LAUNCHES 269
TABLE 321 DAIKIN INDUSTRIES, LTD.: OTHERS 270
14.1.10 CARRIER 272
TABLE 322 CARRIER: COMPANY OVERVIEW 272
FIGURE 67 CARRIER: COMPANY SNAPSHOT 273
TABLE 323 CARRIER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 273
TABLE 324 CARRIER: PRODUCT LAUNCHES 274
TABLE 325 CARRIER: DEALS 275
TABLE 326 CARRIER: OTHERS 275
14.1.11 JOHNSON CONTROLS 276
TABLE 327 JOHNSON CONTROLS: COMPANY OVERVIEW 276
FIGURE 68 JOHNSON CONTROLS: COMPANY SNAPSHOT 277
TABLE 328 JOHNSON CONTROLS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 277
TABLE 329 JOHNSON CONTROLS: PRODUCT LAUNCHES 278
TABLE 330 JOHNSON CONTROLS: DEALS 278
14.1.12 THERMAX LIMITED 280
TABLE 331 THERMAX LIMITED: COMPANY OVERVIEW 280
FIGURE 69 THERMAX LIMITED: COMPANY SNAPSHOT 281
TABLE 332 THERMAX LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 281
TABLE 333 THERMAX LIMITED: OTHERS 282
14.1.13 GEA GROUP AKTIENGESELLSCHAFT 283
TABLE 334 GEA GROUP AKTIENGESELLSCHAFT: COMPANY OVERVIEW 283
FIGURE 70 GEA GROUP AKTIENGESELLSCHAFT: COMPANY SNAPSHOT 284
TABLE 335 GEA GROUP AKTIENGESELLSCHAFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 284
TABLE 336 GEA GROUP AKTIENGESELLSCHAFT: OTHERS 285
14.1.14 TRANE TECHNOLOGIES PLC 286
TABLE 337 TRANE TECHNOLOGIES PLC: COMPANY OVERVIEW 286
FIGURE 71 TRANE TECHNOLOGIES PLC: COMPANY SNAPSHOT 287
TABLE 338 TRANE TECHNOLOGIES PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 287
TABLE 339 TRANE TECHNOLOGIES PLC: PRODUCT LAUNCHES 288
TABLE 340 TRANE TECHNOLOGIES PLC: DEALS 288
14.1.15 BOSCH THERMOTECHNOLOGY CORP. 289
TABLE 341 BOSCH THERMOTECHNOLOGY CORP.: COMPANY OVERVIEW 289
TABLE 342 BOSCH THERMOTECHNOLOGY CORP.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 289
TABLE 343 BOSCH THERMOTECHNOLOGY CORP.: PRODUCT LAUNCHES 290
TABLE 344 BOSCH THERMOTECHNOLOGY CORP.: OTHERS 292
14.2 OTHER PLAYERS 293
14.2.1 GUANGZHOU SPRSUN NEW ENERGY TECHNOLOGY DEVELOPMENT CO.,LTD. 293
14.2.2 GLEN DIMPLEX GROUP 294
14.2.3 NIBE 295
14.2.4 RHEEM MANUFACTURING COMPANY 296
14.2.5 ENERGEN HYBRID SYSTEMS LIMITED 297
14.2.6 EVO ENERGY TECHNOLOGIES 298
14.2.7 NAMMASWADESHI 298
14.2.8 ECO TECH SOLUTIONS 299
14.2.9 DANDELION 299
14.2.10 ZEALUX ELECTRIC LIMITED 300
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
15 APPENDIX 301
15.1 INSIGHTS FROM INDUSTRY EXPERTS 301
15.2 DISCUSSION GUIDE 302
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 307
15.4 CUSTOMIZATION OPTIONS 309
15.5 RELATED REPORTS 309
15.6 AUTHOR DETAILS 310

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