Global Heat Pump Market to 2032
Overview
The Global Heat Pump Market is expected to reach a 158.72 USD Billion by 2032 and is projected to grow at a CAGR of 18.42% from 2025 to 2032.
Revenue, 2024 (USD Billion)
38.80
Forecast, 2032 (USD Billion)
158.72
CAGR, 2024 - 2032
18.42%
Report Coverage
Global
Global Heat Pump Market 2018-2032 USD Billion
Global Heat Pump Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 38.80 USD Billion
- Projected Market Size (2032): 158.72 USD Billion
- CAGR (2025-2032): 18.42%
Key Findings of Global Heat Pump Market
- The Global Heat Pump Market was valued at 158.72 USD Billion in 2024.
- The Global Heat Pump Market is likely to grow at a CAGR of 18.42% 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 25.63 USD Billion
- The fastest growing segment Reversible Air-Air W/Heating in Category Segment grew Fastest with a CAGR of 19.36% during the forecast period from 2024 to 2032.
Global Heat Pump Market Scope
Global Heat Pump Market Segmentation & Scope
Sector
- Industrial
- Commercial
- Residential
Category
- Exhaust Air
- Reversible Others
- Sanitary Hot Water
- H-Ground/Water
- H-Air/Water
- Reversible Air-Air W/Heating
Energy Source
- Ground Source
- Air/Air
- Air/Water
Type
- Ductless
- Ducted
Capacity
- Units > 20 KW
- Units < 20KW
Global Heat Pump Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2019 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 38.80 USD Billion |
| Market Value in 2032 | 158.72 USD Billion |
| CAGR (2025-2032) | 18.42% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Sector,Category,Energy Source,Type,Capacity |
Regional Insights:
-
Leading Market (2024-2032): Global, leading in terms of revenue 38.80 USD Billion in 2024
- Key Country: U.S., leading in terms of revenue with value of 5,003.62 USD Million in 2024.
Segments and Scope
-
Global Heat Pump Market to 2032, By Sector
- Residential is the largest segment in Global Heat Pump Market to 2032 with a revenue of 18.53 USD Billion in the year 2024.
- Commercial is the Fastest growing segment in Global Heat Pump Market to 2032 with a Growth rate of 18.12 % in forecast period 2025-2032.
-
Global Heat Pump Market to 2032, By Category
- Reversible Air-Air W/Heating is the largest segment in Global Heat Pump Market to 2032 with a revenue of 21.17 USD Billion in the year 2024.
- Reversible Air-Air W/Heating is the Fastest growing segment in Global Heat Pump Market to 2032 with a Growth rate of 19.36 % in forecast period 2025-2032.
-
Global Heat Pump Market to 2032, By Energy Source
- Air/Water is the largest segment in Global Heat Pump Market to 2032 with a revenue of 18.69 USD Billion in the year 2024.
- Air/Water is the Fastest growing segment in Global Heat Pump Market to 2032 with a Growth rate of 18.86 % in forecast period 2025-2032.
-
Global Heat Pump Market to 2032, By Type
- Ducted is the largest segment in Global Heat Pump Market to 2032 with a revenue of 23.87 USD Billion in the year 2024.
- Ducted is the Fastest growing segment in Global Heat Pump Market to 2032 with a Growth rate of 18.65 % in forecast period 2025-2032.
-
Global Heat Pump Market to 2032, By Capacity
- Units < 20KW is the largest segment in Global Heat Pump Market to 2032 with a revenue of 25.63 USD Billion in the year 2024.
- Units > 20 KW is the Fastest growing segment in Global Heat Pump Market to 2032 with a Growth rate of 18.03 % in forecast period 2025-2032.
Global Heat Pump Market Company Share Analysis
| Company Name |
|
||
| Mitsubishi Electric Corporation | |||
| Panasonic Corporation | |||
| Danfoss | |||
| NIBE Industrier AB | |||
| Bosch Thermotechnik GmbH | |||
Global Heat Pump Market Geographical Sales Distribution, 2018-2032 USD Billion
Global Heat Pump Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Global Heat Pump Market is segmented based on Segmentation Sector,Category,Energy Source,Type,Capacity.
Global Heat Pump Market was valued at USD 38.80(Revenue in USD Billion) in 2019.
Global Heat Pump Market is projected to grow at a CAGR of 18.42% during the forecast period of 2024 to 2032.
The Units < 20KW segment is expected to dominate the Global Heat Pump Market, holding a largest market share of 25.63 USD Billion in 2024
Global Heat Pump Market Scope
Global Heat Pump Market Segmentation & Scope
Sector
- Industrial
- Commercial
- Residential
Category
- Exhaust Air
- Reversible Others
- Sanitary Hot Water
- H-Ground/Water
- H-Air/Water
- Reversible Air-Air W/Heating
Energy Source
- Ground Source
- Air/Air
- Air/Water
Type
- Ductless
- Ducted
Capacity
- Units > 20 KW
- Units < 20KW
Frequently Asked Questions
The Global Heat Pump Market is segmented based on Segmentation Sector,Category,Energy Source,Type,Capacity.
Global Heat Pump Market was valued at USD 38.80(Revenue in USD Billion) in 2019.
Global Heat Pump Market is projected to grow at a CAGR of 18.42% during the forecast period of 2024 to 2032.
The estimated market value of the Global Heat Pump Market for final year is USD 158.72 (USD Billion).
Global Heat Pump Market Company Profiling
Frequently Asked Questions
The Global Heat Pump Market is segmented based on Segmentation Sector,Category,Energy Source,Type,Capacity.
Global Heat Pump Market was valued at USD 38.80(Revenue in USD Billion) in 2019.
Global Heat Pump Market is projected to grow at a CAGR of 18.42% during the forecast period of 2024 to 2032.
The estimated market value of the Global Heat Pump Market for final year is USD 158.72 (USD Billion).
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