As the global economy recovers in 2021 and the supply of the industrial chain improves, the Heat Pumps market will undergo major changes. The Global Heat Pumps Market was valued at USD 56.566 billion in 2021, and it is expected to reach USD 99.873 billion by 2027, registering a CAGR of 9.8% during the forecast period (2022-2027). Moreover, heat pumps contribute a significant market share and are expected to grow in 2022 to meet the growing consumer demand. The Heat Pump Association, which represents around 95% of the heat pump manufacturing market’s share, surveyed its members to estimate the supply of heat pumps in 2021.

The global Heat Pumps industry report provides top-notch qualitative and quantitative information including: Market size (2017-2021 value and 2022 forecast). The report also contains descriptions of key players, including key financial indicators and market competitive pressure analysis.

The report also assesses key opportunities in the market and outlines the factors that are and will drive the growth of the industry. Taking into account previous growth patterns, growth drivers, and current and future trends, we also forecast the overall growth of the global Heat Pumps market during the next few years. The global Heat Pumps market size will reach USD million in 2028, growing at a CAGR of % during the analysis period.

Highlights-Regions

The Heat Pumps market can be split based on product types, major applications, and important regions as follows:

North America
Europe
Asia Pacific
Latin America

Player list
Panasonic Corporation
Mitsubishi Electric Corporation
Daikin Industries, Ltd.
Viessmann Werke GmbH & Co KG
Flamingo Heat Pumps

Types list
Air Source
Water Source
Geothermal (Ground) Source

Application list
Industrial
Commercial
Institutional
Residential