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Opportunities in the Global Heat Pumps Market to 2026: CAGR of 9.9% Forecast in the Period 2021-2026, to Reach a Market Value of $96.7 billion by 2026

·4-min read

Dublin, Aug. 23, 2021 (GLOBE NEWSWIRE) -- The "Heat Pumps: Global Markets to 2026" report has been added to's offering.

In 2020, the global market for heat pumps was significantly impacted due to the COVID-19 pandemic. In 2021, market players are hoping that the market will recover due to the increasing availability of the COVID-19 vaccine. However, second and third-wave COVID-19 outbreaks are also disrupting industrial operations.

The global heat pump market is categorized into four notable segments on the basis of type, rating capacity, end-user industry and region.

On the basis of type, the heat pump market is segmented into the following: air source, water source and geothermal/ground source heat pump. The air source heat pump is expected to dominate the market due to its features such as energy efficiency, less noise and low carbon emissions.

On the basis of end-user, the heat pump market is segmented into the following: residential, commercial and industrial. The residential segment is expected to dominate the market followed by the commercial and industrial segments. The commercial segment includes education, retail, healthcare, logistics, hospitality, etc. The industrial segment includes various industries like paper and pulp, chemical, F&B, automobile, iron and steel, textile, non-metallic minerals, etc.

The global market for heat pumps is forecast to grow from $60.4 billion in 2021 to $96.7 billion by 2026, at a compound annual growth rate (CAGR) of 9.9% for the period of 2021-2026.

The major companies in the global heat pump market are Midea Group, Daikin, Nibe AG, Ingersoll Rand, Panasonic, Mitsubishi Electric, Danfoss, Hitachi, Carrier Corp., Rheem Mfg. Co. and Johnson Controls, among others.

Key report features:

  • 91 data tables and 58 additional tables

  • An up-to-date analysis of current and future global markets for heat pump within the industry

  • Analyses of the global market trends, with data from 2020, estimates for 2021, and projections of compound annual growth rates (CAGRs) through 2026

  • Estimation of the market size (in value and volumetric terms) and revenue forecast (in USD) for global heat pump markets, and their corresponding market share analysis by type, rated capacity, end-user industry and geography

  • In-depth information (facts and figures) concerning the major factors influencing the progress of the market (drivers, restraints, opportunities, and industry-specific challenges) with respect to specific growth trends, upcoming prospects and contributions to the overall market

  • Country specific data and analysis for the heat pump market featuring China, Japan, India, South Korea, the U.S., Canada, Mexico, France, Germany, Italy, Spain, Brazil, Chile, Argentina, the UAE, Saudi Arabia and South Africa

  • Impact of COVID-19 on the progress of global heat pump market, and pandemic implications on heat pump manufacturing and supply chains industry

  • Insight into the list of global market players operating; their key competitive landscape and company share analysis

  • Assessment of the competitive developments such as joint ventures, mergers and acquisitions, new product development, expansions, the impact of government regulations and R&D activities in the global heat pump market

  • Company profiles descriptions of the leading market participants, including AAON Inc., Daikin Industries Ltd., Hitachi Ltd., Mitsubishi Electric Corp., and Panasonic Corp.

Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Market Overview

  • Introduction

  • Market Potential

  • Components of HVAC Systems

  • Heating

  • Ventilation

  • Air Conditioning

  • Heat Pump Market Overview

  • Market Dynamics

  • Drivers

  • Market Challenges

  • Market Trends

  • Heat Pump Supply Chain

  • COVID-19 Impact on Global Heat Pump Market

  • SWOT Analysis

Chapter 4 Heat Pump Market by Type

Chapter 5 Heat Pump Market by Rating Capacity

Chapter 6 Heat Pump Market by End-Use Sector

Chapter 7 Heat Pump Market by Region

Chapter 8 Competitive Landscape

  • Competitive Landscape: Global

  • List of Market Players

Chapter 9 Company Profiles

  • Aaon Inc.

  • Carrier Corp.

  • Daikin Industries Ltd.

  • Danfoss

  • Gree Electric Appliances Inc.

  • Hitachi Ltd.

  • Ingersoll Rand Inc.

  • Johnson Controls

  • Lennox International

  • Midea Group

  • Mitsubishi Electric Corp.

  • Nibe Industries Ab

  • Nortek Global Hvac

  • Panasonic Corp.

  • Thermax Ltd.

For more information about this report visit

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