Heat Pump Water Heater Market

Heat Pump Water Heater - Global Market Outlook (2019 -2027)

4.1 (43 reviews)
Published: March 2021 ID: SMRC20302
4.1 (43 reviews)
Published: March 2021 ID: SMRC20302

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Heat Pump Water Heater Market is accounted for $1.33 billion in 2019 and is expected to reach $2.64 billion by 2027 growing at a CAGR of 8.9% during the forecast period. Some of the factors such as the reduction in CO2 emissions and governmental incentives and regulations to enhance energy efficiency are the major factors propelling the market growth. However, the lack of awareness regarding the benefits of heat pump water heaters in developing and underdeveloped countries is hindering the market growth.

Heat pump water heaters normally use electricity to move heat from one place to another instead of generating heat directly, which helps in reducing energy consumption by three times compared with conventional electric resistance water heaters. To move the heat from one place to another, the heat pump water heaters work like a refrigerator but in reverse, as the heat pump water heaters pull the heat from the surrounding air and keep it at a higher temperature in a tank to heat water.

Based on the storage refrigerant type, the R410A segment is estimated to have a lucrative growth during the forecast period as R410A is a low-pressure gas that is stored in copper coils and absorbs the heat that passes through various copper components. R410A is a gas that is used as a refrigerant in HVAC for heating and cooling applications. By geography, Asia Pacific is going to have a huge demand during the forecast period due to the increase in the use of renewable energy and energy-efficient products and various initiatives to enhance the installation of heat pump water heater to increase energy efficiency and reduce environmental pollution by the Asia Pacific countries. 

Some of the key players profiled in the Heat Pump Water Heater Market include A.O. Smith Corporation, Alpha-Innotec, Darkin, GE Appliances, Hangzhou Jinjiang Solar, Hitachi, BOSCH, Lennox International Inc, Midea Group, Mitsubishi Electric Corporation, Panasonic, Pentair, Stiebel-Eltron, Wotech, EMERSON, LG Electronics, Johnson Controls-Hitachi Air Conditioning, Fujitsu General, Haier, and United Technologies.
Types Covered:

• Air Source Heat Pump
• Geothermal Heat Pump/Ground Source Heat Pump (GSHP)
• Water Source Heat Pump

Rated Capacities Covered:
• Up to 10 kW
• 10-20 kW
• 20-30 kW
• 30-100 kW
• 100–150 kW
• Above 150 kW

Storage Tank Capacities Covered:
• Up to 500 Liters
• 500-1,000 Liters
• Above 1,000 Liters

Storage Refrigerant Types Covered:
• R410A
• R407C
• R744

Sales Channels Covered:
• Direct Sales
• Distributor

End Users Covered:
• Commercial Use
• Industrial Use
• Residential Use

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Select License Type

Allows one person to have access to the ordered product.The ordered product cannot be distributed to anyone else.
Allows the ordered product to be shared among a maximum of 5 people within your organisation.
Allows the product to be shared among all employees of your organisation at one particular location.
Allows the product to be shared among all employees of your organisation regardless of their geographical location.


Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.