Jan 25, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Air Source Heat Pump Market.
It was estimated prior to this unanticipated outbreak that the Air Source Heat Pump Market is likely to witness an impressive CAGR of 5% during the forecast period. The major driving factor bolstering the demand for air source heat pump is favorable regulatory framework along with clean cooling & heating programs to encourage the adoption of conventional Heating, Ventilation, and Air Conditioning (HVAC) units.
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Air Source Heat Pump is a system that helps to transfer heat from outside to inside of any building or vice versa.
Air Source Heat Pumps are of different types, such as air-to-air heat pump and air-to-water heat pump. They are used in various residential, commercial, and industrial applications.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the product type, the market is segmented as air-to-air and air-to-water. The air-to-air segment is expected to govern the market as it can either be used as an effective way of complementing the existing conventional heating and cooling system or as a stand-alone system, making its adoption suitable. It is preferred over ground source heat pump units, owing to zero expenses for ground works and cost effectiveness.
Based on the application type, the air source heat pump market is segmented as residential, commercial, and industrial. The residential segment dominates the market driven by the rising awareness toward reduction of energy bills along with the shifting trends to improve living standards, increasing adoption of innovative technologies, rising demand for high-level comfort, and efforts to improve air quality.
In terms of regions, North America is estimated to be the dominant market for air source heat pump market during the forecast period, owing to the growing concerns to effectively hold the reins of carbon footprint blended with the introduction of government initiatives to encourage the adoption of heat pump units.
Key players operating in the global Air Source Heat Pump market are-
- Carrier Corporation
- Thermea Group
- Bosch Thermotechnology, A. O
- Smith Corporation
- Mitsubishi Electric Corporation
- Panasonic Corporation
- LG Electronics
- China Yangzi Group
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Air Source Heat Pump analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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