In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Pool Heat Pump Market Report. The pool heat pump market by revenue is expected to grow at a CAGR of over 5% during the period 2019–2025.
New York, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pool Heat Pump Market - Global Outlook and Forecast 2020-2025" - https://www.reportlinker.com/p05982526/?utm_source=GNW
The industry is expected to offer opportunities as the shipment is likely to surpass two million units by 2025. The US, China, Australia, France, and Italy have been the major revenue contributors though the penetration level has remained low historically. With potential threats from solar and gas boiler heating, the competitive pool heating market is expected to be more strategic oriented with opportunities to increase global footprint. It is estimated that over 85% of the revenue is expected to come from North America and Europe during the forecast period owing to the high acceptance level and vendor concentration. Swimming pools have become a major investment site for residential and commercial spaces. While they enhance the popularity and value of outdoor spaces, they also serve as the differentiator for leading resorts, hotels, and water parks.
The following factors are likely to contribute to the growth of the pool heat pump market during the forecast period:
• Preference for Smart Pool Heat Pumps
• Boom in the Spa Industry
• Favorable Government Policies and Incentives
• Growth in Swimming Pool Construction
The study considers the present scenario of the pool heat pump market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Pool Heat Pump Market Segmentation
The global pool heat pump market research report includes a detailed segmentation by type, capacity, end-user, geography. The air source segment is estimated to grow at a CAGR of over 5% during 2019–2025. The growth is expected to be vital from India, Malaysia, Thailand, and Singapore, with China leading the market. With the highest number of outdoor pools, North American contributed the highest share in the segment in terms of unit shipment. Factors such as affordability, low maintenance, and less complexity in the installation are driving the segment.
The >20kW segment is expected to pose an absolute growth of 40% during the forecast period. Increased focus on booming commercial construction activities such as hotels, spas, and resorts can upscale market value in China, the US, and GCC countries. Pool heat pumps could be given preference in extreme weather conditions such as European markets where load requirements for pools are generally higher than others.
The residential segment is expected to pose an absolute growth of 39% by the end of 2025. As government bodies and associations are increasing the adoption of these pumps via rebates, financial incentives, the growth is expected to be certain during the next five years. The growth in sustainable housing construction projects is acting as an effective driver for pool heat pumps. North America is expected to generate an incremental growth of $590 million during the forecast period.
• Air Source
• Water/Geothermal Source
o Hotels and Resorts
o Educational Institutes
o Water Parks
o Sports Clubs
INSIGHTS BY GEOGRAPHY
In terms of revenue, North America accounted for over 47% market share in the pool heat pump market in 2019. The market is expected to witness traction and high demand post-2020, as economic and pool construction activities are expected to revive. While air-source heat pumps have the largest penetration and acceptance level in the US, vendors’ efforts could make consumers’ invest in ground-breaking geothermal heat pumps in the coming years. Similarly, the residential heat pumps with a capacity of <10kW can be targeted in Canadian households where the efforts are maximized for renovation activities and indoor pool maintenance. The replacement demand in the country, where the conventional heating appliances are to be replaced with energy efficient heat pumps, can be a valuable contribution market during the forecast period.
• North America
o South Korea
• Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
INSIGHTS BY VENDORS
The global pool heat pump market is fragmented as it is characterized by a significant number of global and domestic vendors across geographies. Global players such as Rheem Manufacturing, Hayward, AquaCal, Pentair, Jandy are trying to expand their markets through profitable partnerships and merger strategies. In contrast, the domestic vendors capitalize on the product portfolio that best suits the domestic needs and wants. However, being a technology-oriented product, the scope of differentiation lies with sophistication and deployment of advanced features such as energy efficiency, eco-friendly refrigerant, installation costs, analysis of geographical climate and services, and much more through which the product can stay away from the competitive environment.
• Rheem Manufacturing Company
• Hayward Industries Inc.
• Fluidra S.A.
Other Prominent Vendors
• Aqualux International
• Nirvana Chauffe-piscine Inc
• Viessmann Group
• PHNIX Eco-energy Solution Ltd.
• Venus Home Appliances
• Dantherm Ltd.
• Evo Industries Australia
• Guangzhou Sprsun New Energy Technology Development Co.
• AquaPro Systems
• GulfStream Manufacturing
• Thermeau Industries Inc.
KEY QUESTIONS ANSWERED
1. What is the pool heat pump market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the pool heat pump market shares?
3. What is the growth of Asia Pacific pool heat pump market during the forecast period?
4. Who are the leading vendors in the market?
Read the full report: https://www.reportlinker.com/p05982526/?utm_source=GNW
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