Canada Heat Pump Market to 2032
Overview
The Canada Heat Pump Market is expected to reach a 2,850.05 USD Million by 2032 and is projected to grow at a CAGR of 37.60% from 2025 to 2032.
Revenue, 2024 (USD Million)
642.69
Forecast, 2032 (USD Million)
2,850.05
CAGR, 2024 - 2032
37.60%
Report Coverage
Canada
Canada Heat Pump Market 2018-2032 USD Million
Canada Heat Pump Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 642.69 USD Million
- Projected Market Size (2032): 2,850.05 USD Million
- CAGR (2025-2032): 37.60%
Key Findings of Canada Heat Pump Market
- The Canada Heat Pump Market was valued at 642.69 USD Million in 2024.
- The Canada Heat Pump Market is likely to grow at a CAGR of 37.60% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Units < 20KW in Capacity Segment accounted for the largest share of the market with a revenue of 425.56 USD Million
- The fastest growing segment Reversible Air-Air W/Heating in Category Segment grew Fastest with a CAGR of 39.80% during the forecast period from 2024 to 2032.
Canada Heat Pump Market Scope
Canada Heat Pump Market Segmentation & Scope
Type
- Ductless
- Ducted
Energy Source
- Air/Air
- Air/Water
- Ground Source
Capacity
- Units > 20 KW
- Units < 20KW
Sector
- Industrial
- Commercial
- Residential
Category
- Exhaust Air
- Reversible Others
- Sanitary Hot Water
- H-Ground/Water
- H-Air/Water
- Reversible Air-Air W/Heating
Canada Heat Pump Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2019 |
| Unit | Revenue in USD Million |
| Market Value in 2024 | 642.69 USD Million |
| Market Value in 2032 | 2,850.05 USD Million |
| CAGR (2025-2032) | 37.60% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Type,Energy Source,Capacity,Sector,Category |
Regional Insights:
-
Leading Market (2024-2032): Canada, leading in terms of revenue 642.69 USD Million in 2024
- Key Country: Canada, leading in terms of revenue with value of 642.69 USD Million in 2024.
Segments and Scope
-
Canada Heat Pump Market to 2032, By Type
- Ducted is the largest segment in Canada Heat Pump Market to 2032 with a revenue of 386.70 USD Million in the year 2024.
- Ducted is the Fastest growing segment in Canada Heat Pump Market to 2032 with a Growth rate of 38.23 % in forecast period 2025-2032.
-
Canada Heat Pump Market to 2032, By Energy Source
- Ground Source is the largest segment in Canada Heat Pump Market to 2032 with a revenue of 337.69 USD Million in the year 2024.
- Ground Source is the Fastest growing segment in Canada Heat Pump Market to 2032 with a Growth rate of 38.65 % in forecast period 2025-2032.
-
Canada Heat Pump Market to 2032, By Capacity
- Units < 20KW is the largest segment in Canada Heat Pump Market to 2032 with a revenue of 425.56 USD Million in the year 2024.
- Units > 20 KW is the Fastest growing segment in Canada Heat Pump Market to 2032 with a Growth rate of 36.77 % in forecast period 2025-2032.
-
Canada Heat Pump Market to 2032, By Sector
- Residential is the largest segment in Canada Heat Pump Market to 2032 with a revenue of 322.65 USD Million in the year 2024.
- Commercial is the Fastest growing segment in Canada Heat Pump Market to 2032 with a Growth rate of 37.19 % in forecast period 2025-2032.
-
Canada Heat Pump Market to 2032, By Category
- Reversible Air-Air W/Heating is the largest segment in Canada Heat Pump Market to 2032 with a revenue of 365.00 USD Million in the year 2024.
- Reversible Air-Air W/Heating is the Fastest growing segment in Canada Heat Pump Market to 2032 with a Growth rate of 39.80 % in forecast period 2025-2032.
Canada Heat Pump Market Company Share Analysis
| Company Name |
|
||
| Mitsubishi Electric Corporation | |||
| Panasonic Corporation | |||
| Danfoss | |||
| NIBE Industrier AB | |||
| Bosch Thermotechnik GmbH | |||
Canada Heat Pump Market Geographical Sales Distribution, 2018-2032 USD Million
Canada Heat Pump Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Canada Heat Pump Market is segmented based on Segmentation Type,Energy Source,Capacity,Sector,Category.
Canada Heat Pump Market was valued at USD 642.69(Revenue in USD Million) in 2019.
Canada Heat Pump Market is projected to grow at a CAGR of 37.60% during the forecast period of 2024 to 2032.
The Units < 20KW segment is expected to dominate the Canada Heat Pump Market, holding a largest market share of 425.56 USD Million in 2024
Canada Heat Pump Market Scope
Canada Heat Pump Market Segmentation & Scope
Type
- Ductless
- Ducted
Energy Source
- Air/Air
- Air/Water
- Ground Source
Capacity
- Units > 20 KW
- Units < 20KW
Sector
- Industrial
- Commercial
- Residential
Category
- Exhaust Air
- Reversible Others
- Sanitary Hot Water
- H-Ground/Water
- H-Air/Water
- Reversible Air-Air W/Heating
Frequently Asked Questions
The Canada Heat Pump Market is segmented based on Segmentation Type,Energy Source,Capacity,Sector,Category.
Canada Heat Pump Market was valued at USD 642.69(Revenue in USD Million) in 2019.
Canada Heat Pump Market is projected to grow at a CAGR of 37.60% during the forecast period of 2024 to 2032.
The estimated market value of the Canada Heat Pump Market for final year is USD 2,850.05 (USD Million).
Canada Heat Pump Market Company Profiling
Frequently Asked Questions
The Canada Heat Pump Market is segmented based on Segmentation Type,Energy Source,Capacity,Sector,Category.
Canada Heat Pump Market was valued at USD 642.69(Revenue in USD Million) in 2019.
Canada Heat Pump Market is projected to grow at a CAGR of 37.60% during the forecast period of 2024 to 2032.
The estimated market value of the Canada Heat Pump Market for final year is USD 2,850.05 (USD Million).
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