Heat Pump Market

研究執行與發布：MarketsandMarkets　·　發布日期 2026-08-26　·　369 頁
由量子訊息有限公司（Quantum Information）在台灣代理銷售與提供授權諮詢。

完整報告名稱與涵蓋範圍

Heat Pump Market by Technology (Air-to-Air, Air-to-Water, Water Source, Geothermal, Hybrid, PVT), Refrigerant (R410A, R407C, R744, R290, R717), Type (Reversible, Non-reversible), Rated Capacity, End User, Application, and Region - Global Forecast to 2031

報告摘要

The global heat pump market is projected to grow from USD 88.81 billion in 2026 to USD 169.04 billion by 2031, at a CAGR of 13.7%. Market growth is supported by the rapid expansion of building electrification programs, increasing government subsidies and incentive schemes, and rising replacement of aging fossil fuel boilers across residential and commercial buildings. Manufacturers are deploying air-source, water-source, and ground-source heat pump architectures to improve energy efficiency, enable dual heating-cooling functionality, and integrate with renewable energy systems. Increasing adoption of hybrid heat pump systems, smart thermostats, demand response programs, and battery-backed home energy management is further accelerating demand for advanced heat pump and control platforms. Growing investments in low-global warming potential (GWP) refrigerants, inverter-driven variable-speed compressors, and intelligent grid-edge technologies are transforming the way manufacturers and utilities manage increasingly electrified heating loads. Advances in AI-driven diagnostics, connected/IoT-enabled controls, cloud-based monitoring platforms, and real-time performance optimization are enabling faster cold climate adoption while reducing operating costs and improving system efficiency. As utilities and governments continue to push building electrification and support higher levels of renewable energy penetration, heat pump solutions are expected to play an increasingly important role in building resilient, low-carbon, and digitally connected heating infrastructure. “Air-to-water heat pumps, by technology, are expected to maintain their leading position throughout the forecast period.” Air-to-water heat pumps are expected to witness strong growth as electrification of space heating and domestic hot water accelerates, particularly in Europe. These systems can replace fossil fuel boilers while providing heating, cooling, and hot-water functions, making them suitable for both new construction and retrofit applications. The IEA identifies Europe as a major market for hydronic heat pumps and notes that heat pump deployment in buildings is the near-term engine of global growth. The increasing adoption of low-GWP refrigerants, including R290 and R32, is further supporting product development and expanding the addressable market for air-to-water systems. “The commercial segment is expected to witness strong growth during the forecast period.” Commercial buildings are expected to experience increasing heat-pump adoption as businesses seek to electrify space heating and cooling, reduce fossil fuel consumption, and improve building energy efficiency. Heat pumps are particularly attractive in commercial applications because the same system can provide heating and cooling, while larger systems can integrate with building controls and thermal storage solutions. The IEA identifies buildings as the primary near-term growth engine for heat pumps, and highlights continued opportunities for larger heat pump systems in commercial buildings, district heating, and other applications. Breakdown of Primaries: In-depth interviews with key industry participants, subject-matter experts, C-level executives of key market players, and directors, among other experts, were conducted to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The primary interviews were distributed as follows: By Company Type: Tier 1 - 65%, Tier 2 - 24%, and Tier 3 - 11% By Designation: C-Level Executives - 30%, Directors - 25%, Others - 45% By Region: North America - 20%, Europe - 25%, Asia Pacific - 30%, Middle East & Africa - 10%, South and Central America - 15%. Well-established technology companies and heat pump manufacturers predominantly govern the heat pump market. Key players profiled in the report include Daikin (Japan), Mitsubishi Electric (Japan), Panasonic (Japan), Bosch Home Comfort Group (Germany), Vaillant Group (Germany), Stiebel Eltron (Germany), NIBE Group (Sweden), Ariston Holding N.V. (Italy), Midea Building Technologies (China), Carrier Global (US), A.O. Smith Corporation (US), Aira/Vargas Group (Sweden), Dandelion Energy (US), and EVO Energy Technologies (Australia). Their strong manufacturing footprints, refrigerant technology leadership, and continued investments in low-GWP transition and regional capacity expansion continue to shape the competitive landscape. Research Coverage: The report provides a comprehensive definition, description, and forecast of the heat pump market by technology (air-to-air heat pumps, air-to-water heat pumps, water source heat pumps, ground source (geothermal) heat pumps, hybrid heat pumps, and photovoltaic-thermal (PVT) heat pumps), by type (reversible heat pumps, non-reversible heat pumps), by refrigerant (r410a, r407c, r744, r290, R717 and other refrigerants), by rated capacity (up to 10 kW, 10-20 kW, 20-30 kW, and above 30 kW), by end user (residential, commercial, and industrial), by application (heating (water heating, district and space heating), heating and cooling), and by region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). It delivers qualitative and quantitative analysis of market drivers, restraints, opportunities, and challenges. The study also includes competitive landscape assessment, market sizing and forecasts, technology trends, ecosystem analysis, commercial use cases, company benchmarking, and recent developments to provide a comprehensive view of the heat pump market. Key Benefits of Buying the Report The report is designed to support OEMs, installers, utilities, policymakers, investors, and other stakeholders in understanding the evolving heat pump market. It provides reliable market forecasts across all major segments and regions while delivering insights into technology adoption, competitive positioning, and future growth opportunities. The report enables stakeholders to make informed business decisions through detailed market intelligence and strategic analysis. • Analysis of key market dynamics: Covers the major drivers (Rising decarbonization mandates, Government subsidies and incentive programs, and Increasing replacement of fossil-fuel boilers), restraints (High upfront installation costs, Cold-climate performance limitations, and Electrician/installer shortages), opportunities (Smart home energy integration, Hybrid heat pump systems, and Emerging markets in Asia Pacific and North America), and challenges (F-Gas regulatory transitions, Grid capacity constraints, and Supply chain dependencies for compressors and refrigerants) influencing market growth • Technology and Product Innovation: Examines advancements in low-GWP refrigerants (R-290, R-32), inverter-driven variable-speed compressors, hybrid heat pump systems, and AI-enabled smart controls that are transforming residential and commercial heating • Market Development: Highlights how building electrification programs, EU F-Gas phase-down regulations, rising energy costs, and utility electrification incentives are accelerating heat pump adoption across global heating markets • Market Diversification: Evaluates expanding heat pump applications beyond traditional residential heating into industrial process heat, data center thermal management, district heating networks, and combined heat-and-power integration, creating new revenue opportunities for market participants • Competitive Assessment: Provides detailed analysis of leading companies, including DAIKIN INDUSTRIES, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Panasonic Holdings Corporation (Japan), Bosch Thermotechnology Corp. (Germany), Vaillant Group International GmbH (Germany), NIBE Industrier AB (Sweden), Ariston Holding N.V. (Italy), Midea Group Co., Ltd. (China), Carrier Global Corporation (US), A.O. Smith Corporation (US), Dandelion Energy, Inc. (US), and EVO Energy Technologies (Australia), covering their product portfolios, strategic initiatives, technological capabilities, and competitive positioning.

授權報價

Single User Licence	$4,950 USD
Multi User Licence	$6,650 USD
Corporate User Licence	$8,150 USD
Global User Licence	$10,000 USD

目錄 Table of Contents

1 INTRODUCTION 32 1.1 STUDY OBJECTIVES 32 1.2 MARKET DEFINITION 32 1.3 STUDY SCOPE 33 1.3.1 MARKETS COVERED AND REGIONAL SCOPE 33 1.3.2 INCLUSIONS AND EXCLUSIONS 34 1.3.3 YEARS CONSIDERED 35 1.4 CURRENCY CONSIDERED 36 1.5 UNIT CONSIDERED 36 1.6 LIMITATIONS 36 1.7 STAKEHOLDERS 36 1.8 SUMMARY OF CHANGES 37 2 EXECUTIVE SUMMARY 38 2.1 MARKET HIGHLIGHTS AND KEY INSIGHTS 38 2.2 KEY MARKET PARTICIPANTS: MAPPING OF STRATEGIC DEVELOPMENTS 39 2.3 DISRUPTIVE TRENDS IN HEAT PUMP MARKET 39 2.4 HIGH-GROWTH SEGMENTS 40 2.5 REGIONAL SNAPSHOT: MARKET SIZE, GROWTH RATE, AND FORECAST 41 3 PREMIUM INSIGHTS 42 3.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HEAT PUMP MARKET 42 3.2 HEAT PUMP MARKET, BY APPLICATION AND REGION 43 3.3 HEAT PUMP MARKET, BY TECHNOLOGY 43 3.4 HEAT PUMP MARKET, BY RATED CAPACITY 44 3.5 HEAT PUMP MARKET, BY END USER 44 3.6 HEAT PUMP MARKET, BY APPLICATION 45 3.7 HEAT PUMP MARKET, BY TYPE 45 3.8 HEAT PUMP MARKET, BY REFRIGERANT 46 3.9 HEAT PUMP MARKET, BY COUNTRY 46 4 MARKET OVERVIEW 47 4.1 INTRODUCTION 47 4.2 MARKET DYNAMICS 47 4.2.1 DRIVERS 48 4.2.1.1 Rising electrification of space and water heating 48 4.2.1.2 Increasing government initiatives to enhance building efficiency and decarbonization 48 4.2.2 RESTRAINTS 49 4.2.2.1 High upfront and installation costs 49 4.2.2.2 Unfavorable electricity-to-gas price ratio 49 4.2.3 OPPORTUNITIES 50 4.2.3.1 Enhanced performance of CO2 heat pumps amid technological advances 50 4.2.3.2 Rapid transition toward low-GWP refrigerants 51 4.2.4 CHALLENGES 52 4.2.4.1 Development and compliance requirements of low-GWP refrigerants 52 4.2.4.2 Volatility in heat pump demand due to policy uncertainty 52 4.2.4.3 Technical and regulatory complexities 52 4.3 INTERCONNECTED MARKETS AND CROSS-SECTOR OPPORTUNITIES 53 4.4 STRATEGIC MOVES BY TIER-1/2/3 PLAYERS 54 5 INDUSTRY TRENDS 56 5.1 PORTER’S FIVE FORCES ANALYSIS 56 5.1.1 THREAT OF NEW ENTRANTS 57 5.1.2 THREAT OF SUBSTITUTES 57 5.1.3 BARGAINING POWER OF SUPPLIERS 57 5.1.4 BARGAINING POWER OF BUYERS 57 5.1.5 INTENSITY OF COMPETITIVE RIVALRY 58 5.2 MACROECONOMIC OUTLOOK 58 5.2.1 INTRODUCTION 58 5.2.2 GDP TRENDS AND FORECAST 58 5.2.3 TRENDS IN GLOBAL COMMERCIAL SECTOR 60 5.2.4 TRENDS IN GLOBAL INDUSTRIAL SECTOR 61 5.3 SUPPLY CHAIN ANALYSIS 61 5.4 ECOSYSTEM ANALYSIS 62 5.5 PRICING ANALYSIS 64 5.5.1 PRICING RANGE OF HEAT PUMPS, BY TECHNOLOGY, 2025 64 5.5.2 AVERAGE SELLING PRICE TREND OF HEAT PUMPS, BY REGION, 2023–2025 64 5.6 TRADE ANALYSIS 65 5.6.1 IMPORT SCENARIO (HS CODE 841861) 65 5.6.2 EXPORT SCENARIO (HS CODE 841861) 66 5.7 KEY CONFERENCES AND EVENTS, 2026–2027 67 5.8 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 68 5.9 INVESTMENT AND FUNDING SCENARIO 68 5.10 CASE STUDY ANALYSIS 69 5.10.1 ECOCUTE HEAT-PUMP WATER HEATER DEPLOYMENT TO REDUCE ENERGY CONSUMPTION AND FOSSIL-FUEL DEPENDENCE 69 5.10.2 LARGE HEAT PUMP CONSTRUCTION IN HAMBURG, GERMANY TO SUPPORT DECARBONIZATION 70 5.10.3 US DOE’S HIGH-TEMPERATURE HEAT-PUMP SYSTEM DEVELOPMENT FOR COMMERCIAL BUILDINGS 70 5.11 IMPACT OF US TARIFF – HEAT PUMP MARKET 70 5.11.1 INTRODUCTION 70 5.11.2 KEY TARIFF RATES 71 5.11.3 PRICE IMPACT ANALYSIS 72 5.11.4 IMPACT ON COUNTRIES/REGIONS 72 5.11.4.1 US 72 5.11.4.2 Europe 73 5.11.4.3 Asia Pacific 73 5.11.5 IMPACT ON END USERS 73 6 TECHNOLOGICAL ADVANCEMENTS, AI-DRIVEN IMPACT, PATENTS, INNOVATIONS, AND FUTURE APPLICATIONS 75 6.1 KEY TECHNOLOGIES 75 6.1.1 PHOTOVOLTAIC-THERMAL SOLAR-ASSISTED HEAT PUMP SYSTEMS 75 6.1.2 HYBRID HEAT PUMPS 75 6.1.3 AIR-TO-AIR HEAT PUMPS 75 6.1.4 AIR-TO-WATER HEAT PUMPS 76 6.1.5 WATER-SOURCE HEAT PUMPS 76 6.1.6 GROUND-SOURCE HEAT PUMPS 76 6.1.7 SOLID-STATE HEAT PUMPS 76 6.2 COMPLEMENTARY TECHNOLOGIES 76 6.2.1 THERMAL STORAGE SYSTEMS 76 6.2.2 SMART CONTROLS AND AUTOMATION 77 6.3 ADJACENT TECHNOLOGIES 77 6.3.1 HEAT RECOVERY VENTILATION SYSTEMS 77 6.3.2 INTERNET OF THINGS DEVICES 77 6.4 TECHNOLOGY ROADMAP 77 6.4.1 REFRIGERANT TRANSITION 77 6.4.2 HIGH-TEMPERATURE HEAT PUMPS 78 6.4.3 INVERTER AND VARIABLE-SPEED TECHNOLOGY 78 6.4.4 INTEGRATED HEATING, COOLING, AND HOT-WATER SYSTEMS 78 6.4.5 SMART AND CONNECTED HEAT PUMPS 79 6.4.6 GRID-INTERACTIVE HEAT PUMPS 79 6.4.7 AI-ENABLED AUTONOMOUS OPERATION 80 6.5 PATENT ANALYSIS 80 6.6 FUTURE APPLICATIONS 81 6.7 IMPACT OF AI/GEN AI ON HEAT PUMP MARKET 83 6.7.1 TOP USE CASES AND MARKET POTENTIAL 83 6.7.2 BEST PRACTICES FOLLOWED BY MANUFACTURERS/OEMS IN HEAT PUMP MARKET 83 6.7.3 CASE STUDIES RELATED TO AI/GEN AI IMPLEMENTATION IN HEAT PUMP MARKET 84 6.7.4 INTERCONNECTED ECOSYSTEMS AND IMPACT ON MARKET PLAYERS 85 6.7.5 CLIENTS’ READINESS TO ADOPT AI/GEN AI-INTEGRATED HEAT PUMPS 85 7 REGULATORY LANDSCAPE AND SUSTAINABILITY INITIATIVES 86 7.1 REGIONAL REGULATIONS AND COMPLIANCE 86 7.1.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 86 7.1.2 GLOBAL F-GAS REGULATIONS AND REFRIGERANT POLICIES 88 7.1.3 EUROPEAN F-GAS REGULATIONS AND REFRIGERANT POLICIES 90 7.1.4 EUROPEAN REGULATIONS, SUBSIDIES, AND POLICIES 92 7.1.5 ASIA PACIFIC REGULATIONS, SUBSIDIES, AND POLICIES 93 7.1.6 NORTH AMERICAN REGULATIONS, SUBSIDIES, AND POLICIES 94 7.1.7 MIDDLE EAST & AFRICAN REGULATIONS, SUBSIDIES, AND POLICIES 96 7.1.8 LATIN AMERICAN REGULATIONS, SUBSIDIES, AND POLICIES 98 7.1.9 EUROPEAN HEAT PUMP POLICIES 98 7.2 SUSTAINABILITY INITIATIVES 105 7.3 IMPACT OF REGULATORY POLICIES ON SUSTAINABILITY INITIATIVES 106 8 CUSTOMER LANDSCAPE AND BUYER BEHAVIOR 107 8.1 DECISION-MAKING PROCESS 107 8.1.1 REPLACEMENT NEED AND HEATING-SYSTEM ASSESSMENT 107 8.1.2 HEATING AND COOLING PERFORMANCE REQUIREMENT ASSESSMENT 107 8.1.3 TECHNICAL PRODUCT EVALUATION 108 8.1.4 ECONOMIC AND TOTAL-COST-OF-OWNERSHIP EVALUATION 108 8.1.5 INSTALLER VALIDATION AND SYSTEM DESIGN 109 8.1.6 INCENTIVE, REGULATORY, AND TARIFF ASSESSMENT 109 8.2 KEY STAKEHOLDERS INVOLVED IN BUYING PROCESS AND THEIR EVALUATION CRITERIA 110 8.2.1 KEY STAKEHOLDERS IN BUYING PROCESS 111 8.2.2 BUYING CRITERIA 112 8.3 ADOPTION BARRIERS AND INTERNAL CHALLENGES 113 8.3.1 HIGH UPFRONT COST AND RETROFIT EXPENDITURE 113 8.3.2 OPERATING COST AND ELECTRICITY-TO-GAS PRICE ECONOMICS 113 8.3.3 HEATING CAPACITY AND COLD-CLIMATE PERFORMANCE 113 8.3.4 RETROFIT COMPATIBILITY AND INSTALLATION COMPLEXITY 113 8.3.5 ENERGY EFFICIENCY AND TOTAL COST OF OWNERSHIP 114 8.3.6 REFRIGERANT SELECTION AND REGULATORY COMPLIANCE 114 8.3.7 RELIABILITY, SERVICE AVAILABILITY, AND WARRANTY 114 8.3.8 SMART CONTROLS AND CONNECTIVITY 114 8.3.9 INCENTIVES AND PAYBACK PERIOD 114 8.3.10 INSTALLER EXPERTISE AND PRODUCT AVAILABILITY 115 8.4 UNMET NEEDS OF VARIOUS END USERS 115 8.5 MARKET PROFITABILITY 116 9 HEAT PUMP MARKET, BY TYPE 117 9.1 INTRODUCTION 118 9.2 REVERSIBLE 119 9.2.1 SUITABILITY FOR BUILDINGS WITH VARYING THERMAL REQUIREMENTS TO BOOST SEGMENTAL GROWTH 119 9.3 NON-REVERSIBLE 120 9.3.1 USE IN DEDICATED HEATING AND HOT-WATER APPLICATIONS TO EXPEDITE SEGMENTAL GROWTH 120 10 HEAT PUMP MARKET, BY RATED CAPACITY 121 10.1 INTRODUCTION 122 10.2 UP TO 10 KW 123 10.2.1 INCREASING REPLACEMENT OF CONVENTIONAL BOILERS AND RESIDENTIAL ELECTRIFICATION TO FOSTER SEGMENTAL GROWTH 123 10.3 10–20 KW 124 10.3.1 GROWING SPACE-HEATING REQUIREMENTS IN LARGE RESIDENTIAL AND LIGHT-COMMERCIAL PROPERTIES TO SPUR DEMAND 124 10.4 20–30 KW 125 10.4.1 RISING NEED FOR EFFICIENT CLIMATE CONTROL IN HYBRID ENVIRONMENTS TO FUEL SEGMENTAL GROWTH 125 10.5 ABOVE 30 KW 126 10.5.1 INCREASING COMMERCIAL BUILDING ELECTRIFICATION, DISTRICT HEATING, AND WASTE-HEAT RECOVERY TO DRIVE MARKET 126 11 HEAT PUMP MARKET, BY REFRIGERANT 128 11.1 INTRODUCTION 129 11.2 R410A 130 11.2.1 ESTABLISHED ARCHITECTURE, COMPONENT AVAILABILITY, AND PROVEN OPERATING PERFORMANCE TO SPUR DEMAND 130 11.3 R407C 131 11.3.1 CUSTOMER FOCUS ON EXTENDING EQUIPMENT OPERATING LIFE TO ACCELERATE SEGMENTAL GROWTH 131 11.4 R744 132 11.4.1 ABILITY TO DELIVER HIGH-TEMPERATURE HOT WATER TO CONTRIBUTE TO SEGMENTAL GROWTH 132 11.5 R290 133 11.5.1 TRANSITION FROM HIGH-GWP REFRIGERANTS TOWARD NATURAL ALTERNATIVES TO BOLSTER SEGMENTAL GROWTH 133 11.6 R717 134 11.6.1 STRONG THERMODYNAMIC PERFORMANCE AND SUITABILITY FOR HIGH-TEMPERATURE PROCESS HEATING TO DRIVE MARKET 134 11.7 OTHER REFRIGERANTS 136 12 HEAT PUMP MARKET, BY TECHNOLOGY 137 12.1 INTRODUCTION 138 12.2 AIR-TO-AIR 140 12.2.1 SIMPLE INSTALLATION AND LIMITED DEPENDENCE ON HYDRONIC INFRASTRUCTURE TO AUGMENT SEGMENTAL GROWTH 140 12.3 AIR-TO-WATER 141 12.3.1 ELECTRIFICATION OF HYDRONIC HEATING SYSTEMS TO CONTRIBUTE TO SEGMENTAL GROWTH 141 12.4 WATER-SOURCE 142 12.4.1 DEMAND FOR LOW-CARBON CENTRALIZED HEATING TO EXPEDITE SEGMENTAL GROWTH 142 12.5 GROUND-SOURCE (GEOTHERMAL) 143 12.5.1 STABLE GROUND TEMPERATURES AND LONG-TERM EFFICIENCY TO FACILITATE SEGMENTAL GROWTH 143 12.6 HYBRID 144 12.6.1 RETROFIT FLEXIBILITY AND TRANSITIONAL HEATING POLICIES TO SUPPORT ADOPTION 144 12.7 PHOTOVOLTAIC-THERMAL (PVT) 145 12.7.1 INTEGRATION OF SOLAR ENERGY WITH ELECTRIFIED HEATING AND COOLING SYSTEMS TO BOOST SEGMENTAL GROWTH 145 13 HEAT PUMP MARKET, BY APPLICATION 147 13.1 INTRODUCTION 148 13.2 HEATING 149 13.2.1 WATER HEATING 150 13.2.1.1 Mounting demand for high-efficiency heat-pump systems to bolster segmental growth 150 13.2.2 DISTRICT & SPACE HEATING 151 13.2.2.1 Increasing implementation of increasingly stringent building energy-performance requirements to fuel segmental growth 151 13.3 HEATING & COOLING 152 13.3.1 REQUIREMENT FOR INTEGRATED SYSTEMS ADDRESSING SEASONAL THERMAL REQUIREMENTS TO FACILITATE SEGMENTAL GROWTH 152 14 HEAT PUMP MARKET, BY END USER 154 14.1 INTRODUCTION 155 14.2 RESIDENTIAL 156 14.2.1 INCREASING REPLACEMENT OF GAS AND OIL BOILERS, HOUSEHOLD ELECTRIFICATION, AND GOVERNMENT INCENTIVES TO DRIVE MARKET 156 14.3 COMMERCIAL 157 14.3.1 GROWING RELIANCE ON RENEWABLE ENERGY SOURCES FOR HEATING TO ACCELERATE SEGMENTAL GROWTH 157 14.4 INDUSTRIAL 158 14.4.1 RISING EFFORTS TO ENHANCE SUSTAINABILITY AND LOWER CARBON EMISSIONS TO EXPEDITE SEGMENTAL GROWTH 158 15 HEAT PUMP MARKET, BY REGION 160 15.1 INTRODUCTION 161 15.2 ASIA PACIFIC 163 15.2.1 CHINA 169 15.2.1.1 Rising industrial electrification and government-led decarbonization strategies to accelerate market growth 169 15.2.2 INDIA 171 15.2.2.1 Increasing electricity consumption, cooling requirements, and expanding commercial infrastructure to fuel market growth 171 15.2.3 JAPAN 173 15.2.3.1 Growing focus on high-efficiency heating in manufacturing sector to bolster market growth 173 15.2.4 SOUTH KOREA 175 15.2.4.1 High emphasis on electrifying building thermal energy and advanced HVAC manufacturing ecosystem to drive market 175 15.2.5 AUSTRALIA 176 15.2.5.1 Mounting demand for energy-efficient systems and rooftop-solar penetration to contribute to market growth 176 15.2.6 REST OF ASIA PACIFIC 178 15.3 EUROPE 180 15.3.1 FRANCE 185 15.3.1.1 Rising building-renovation activity and replacement of conventional heating systems to expedite market growth 185 15.3.2 ITALY 187 15.3.2.1 Growing focus on replacing fossil-fuel heating systems with electric counterparts to augment market growth 187 15.3.3 GERMANY 189 15.3.3.1 Increasing replacement of conventional heating systems and retrofit applications to facilitate market growth 189 15.3.4 UK 191 15.3.4.1 Rising financial incentives and decarbonization policies to accelerate market growth 191 15.3.5 SPAIN 193 15.3.5.1 High emphasis on renovating buildings and renewable energy strategies to drive market 193 15.3.6 REST OF EUROPE 194 15.4 NORTH AMERICA 196 15.4.1 US 202 15.4.1.1 Large HVAC equipment installed base and replacement of conventional heating systems to support market growth 202 15.4.2 CANADA 204 15.4.2.1 Government programs to replace conventional oil- and gas-fired heating systems with electric heat pumps to fuel market growth 204 15.5 MIDDLE EAST & AFRICA 205 15.5.1 GCC 210 15.5.1.1 Saudi Arabia 212 15.5.1.1.1 Strong focus on strengthening energy-efficiency standards to support market growth 212 15.5.1.2 UAE 213 15.5.1.2.1 Extensive air-conditioning requirements across residential and commercial buildings to foster market growth 213 15.5.1.3 Rest of GCC 215 15.5.2 SOUTH AFRICA 217 15.5.2.1 Greater emphasis on building energy performance to contribute to market growth 217 15.5.3 REST OF MIDDLE EAST & AFRICA 218 15.6 LATIN AMERICA 220 15.6.1 BRAZIL 225 15.6.1.1 Continued focus on energy efficiency and electrification to accelerate market growth 225 15.6.2 MEXICO 227 15.6.2.1 Strong focus on energy-efficiency standards for air-conditioning equipment to expedite market growth 227 15.6.3 REST OF LATIN AMERICA 228 16 COMPETITIVE LANDSCAPE 231 16.1 OVERVIEW 231 16.2 KEY PLAYER COMPETITIVE STRATEGIES/RIGHT TO WIN, 2023–2026 231 16.3 MARKET SHARE ANALYSIS, 2025 233 16.4 MARKET EVALUATION FRAMEWORK, 2021–2025 235 16.5 REVENUE ANALYSIS, 2021–2025 237 16.6 PRODUCT COMPARISON 238 16.6.1 PANASONIC HOLDINGS CORPORATION (JAPAN) 238 16.6.2 MITSUBISHI ELECTRIC CORPORATION (JAPAN) 238 16.6.3 MIDEA (CHINA) 239 16.6.4 SAMSUNG (SOUTH KOREA) 239 16.6.5 DENSO CORPORATION (JAPAN) 239 16.7 COMPANY VALUATION AND FINANCIAL METRICS 239 16.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2025 240 16.8.1 STARS 240 16.8.2 EMERGING LEADERS 240 16.8.3 PERVASIVE PLAYERS 240 16.8.4 PARTICIPANTS 241 16.8.5 COMPANY FOOTPRINT: KEY PLAYERS, 2025 242 16.8.5.1 Company footprint 242 16.8.5.2 Region footprint 243 16.8.5.3 Technology footprint 244 16.8.5.4 Type footprint 245 16.8.5.5 Rated capacity footprint 246 16.8.5.6 Refrigerant footprint 247 16.8.5.7 Application footprint 248 16.8.5.8 End user footprint 249 16.9 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2025 250 16.9.1 PROGRESSIVE COMPANIES 250 16.9.2 RESPONSIVE COMPANIES 250 16.9.3 DYNAMIC COMPANIES 250 16.9.4 STARTING BLOCKS 250 16.9.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2025 252 16.9.5.1 Detailed list of key startups/SMEs 252 16.9.5.2 Competitive benchmarking of key startups/SMEs 252 16.10 COMPETITIVE SCENARIO 253 16.10.1 PRODUCT LAUNCHES 253 16.10.2 DEALS 254 16.10.3 EXPANSIONS 256 16.10.4 OTHER DEVELOPMENTS 256 17 COMPANY PROFILES 258 17.1 KEY PLAYERS 258 17.1.1 PANASONIC HOLDINGS CORPORATION 258 17.1.1.1 Business overview 258 17.1.1.2 Products/Solutions/Services offered 259 17.1.1.3 Recent developments 260 17.1.1.3.1 Product launches 260 17.1.1.3.2 Deals 261 17.1.1.3.3 Expansions 261 17.1.1.3.4 Other developments 262 17.1.1.4 MnM view 262 17.1.1.4.1 Key strengths/Right to win 262 17.1.1.4.2 Strategic choices 263 17.1.1.4.3 Weaknesses/Competitive threats 263 17.1.2 MITSUBISHI ELECTRIC CORPORATION 264 17.1.2.1 Business overview 264 17.1.2.2 Products/Solutions/Services offered 265 17.1.2.3 Recent developments 266 17.1.2.3.1 Product launches 266 17.1.2.3.2 Expansions 267 17.1.2.3.3 Other developments 268 17.1.3 SAMSUNG 269 17.1.3.1 Business overview 269 17.1.3.2 Products/Solutions/Services offered 270 17.1.3.3 Recent developments 271 17.1.3.3.1 Product launches 271 17.1.3.3.2 Deals 272 17.1.3.3.3 Expansions 272 17.1.3.3.4 Other developments 273 17.1.3.4 MnM view 273 17.1.3.4.1 Key strengths/Right to win 273 17.1.3.4.2 Strategic choices 274 17.1.3.4.3 Weaknesses/Competitive threats 274 17.1.4 MIDEA 275 17.1.4.1 Business overview 275 17.1.4.2 Products/Solutions/Services offered 276 17.1.4.3 Recent developments 277 17.1.4.3.1 Product launches 277 17.1.4.3.2 Deals 278 17.1.4.3.3 Expansions 278 17.1.4.3.4 Other developments 279 17.1.4.4 MnM view 279 17.1.4.4.1 Key strengths/Right to win 279 17.1.4.4.2 Strategic choices 279 17.1.4.4.3 Weaknesses/Competitive threats 279 17.1.5 DENSO CORPORATION 280 17.1.5.1 Business overview 280 17.1.5.2 Products/Solutions/Services offered 281 17.1.5.3 Recent developments 282 17.1.5.3.1 Expansions 282 17.1.5.3.2 Other developments 282 17.1.5.4 MnM view 283 17.1.5.4.1 Key strengths/Right to win 283 17.1.5.4.2 Strategic choices 283 17.1.5.4.3 Weaknesses/Competitive threats 283 17.1.6 DAIKIN 284 17.1.6.1 Business overview 284 17.1.6.2 Products/Solutions/Services offered 285 17.1.6.3 Recent developments 287 17.1.6.3.1 Product launches 287 17.1.6.3.2 Deals 287 17.1.6.3.3 Other developments 288 17.1.7 CARRIER 289 17.1.7.1 Business overview 289 17.1.7.2 Products/Solutions/Services offered 290 17.1.7.3 Recent developments 291 17.1.7.3.1 Product launches 291 17.1.7.3.2 Expansions 293 17.1.7.3.3 Other developments 294 17.1.8 TRANE TECHNOLOGIES PLC 295 17.1.8.1 Business overview 295 17.1.8.2 Products/Solutions/Services offered 296 17.1.8.3 Recent developments 298 17.1.8.3.1 Product launches 298 17.1.8.3.2 Deals 298 17.1.8.3.3 Expansions 299 17.1.8.3.4 Other developments 299 17.1.9 JOHNSON CONTROLS 300 17.1.9.1 Business overview 300 17.1.9.2 Products/Solutions/Services offered 301 17.1.9.3 Recent developments 303 17.1.9.3.1 Product launches 303 17.1.9.3.2 Deals 304 17.1.9.3.3 Expansions 305 17.1.9.3.4 Other developments 305 17.1.10 BOSCH THERMOTECHNOLOGY LTD. 307 17.1.10.1 Business overview 307 17.1.10.2 Products/Solutions/Services offered 307 17.1.10.3 Recent developments 308 17.1.10.3.1 Product Launches 308 17.1.10.3.2 Deals 309 17.1.10.3.3 Expansions 309 17.1.10.3.4 Other developments 310 17.1.11 LG ELECTRONICS 311 17.1.11.1 Business overview 311 17.1.11.2 Products/Solutions/Services offered 312 17.1.11.3 Recent developments 313 17.1.11.3.1 Product launches 313 17.1.11.3.2 Deals 313 17.1.11.3.3 Expansions 314 17.1.11.3.4 Other developments 314 17.1.12 FUJITSU GENERAL 316 17.1.12.1 Business overview 316 17.1.12.2 Products/Solutions/Services offered 317 17.1.12.3 Recent developments 319 17.1.12.3.1 Product launches 319 17.1.12.3.2 Deals 320 17.1.13 THERMAX LIMITED 321 17.1.13.1 Business overview 321 17.1.13.2 Products/Solutions/Services offered 322 17.1.13.3 Recent developments 324 17.1.13.3.1 Deals 324 17.1.14 GEA GROUP AKTIENGESELLSCHAFT 325 17.1.14.1 Business overview 325 17.1.14.2 Products/Solutions/Services offered 327 17.1.14.3 Recent developments 328 17.1.14.3.1 Deals 328 17.1.14.3.2 Other developments 329 17.1.15 LENNOX INTERNATIONAL INC 330 17.1.15.1 Business overview 330 17.1.15.2 Products/Solutions/Services offered 331 17.1.15.3 Recent developments 332 17.1.15.3.1 Product launches 332 17.1.15.3.2 Deals 333 17.2 OTHER PLAYERS 334 17.2.1 GUANGZHOU SPRSUN NEW ENERGY TECHNOLOGY DEVELOPMENT CO., LTD. 334 17.2.2 GLEN DIMPLEX GROUP 335 17.2.3 NIBE LIMITED 336 17.2.4 RHEEM MANUFACTURING COMPANY 337 17.2.5 DANDELION ENERGY 338 17.2.6 ZEALUX ELECTRIC LIMITED 338 17.2.7 VAILLANT GROUP 339 17.2.8 EVO ENERGY TECHNOLOGIES 340 17.2.9 ARISTON HOLDING N.V. 341 17.2.10 A. O. SMITH 342 17.2.11 ENERGEN HYBRID SYSTEMS LIMITED 343 17.2.12 NAMMASWADESHI 344 17.2.13 ECOTECH SOLUTIONS 345 18 RESEARCH METHODOLOGY 346 18.1 RESEARCH DATA 346 18.1.1 SECONDARY DATA 347 18.1.1.1 List of key secondary sources 348 18.1.1.2 Key data from secondary sources 348 18.1.2 PRIMARY DATA 348 18.1.2.1 List of primary interview participants 349 18.1.2.2 Key industry insights 349 18.1.2.3 Breakdown of primaries 350 18.1.2.4 Key data from primary sources 350 18.2 DATA TRIANGULATION 351 18.3 MARKET SIZE ESTIMATION 353 18.3.1 BOTTOM-UP APPROACH 353 18.3.2 TOP-DOWN APPROACH 353 18.4 MARKET FORECAST APPROACH 354 18.4.1 DEMAND-SIDE 354 18.4.1.1 Demand-side assumptions 355 18.4.1.2 Demand-side calculations 355 18.4.2 SUPPLY-SIDE 356 18.4.2.1 Supply-side assumptions 357 18.4.2.2 Supply-side calculations 357 18.5 INDUSTRY CONCENTRATION 358 18.6 GROWTH FORECAST ASSUMPTIONS 358 18.7 RESEARCH LIMITATIONS 359 18.8 RISK ANALYSIS 359 19 APPENDIX 360 19.1 INSIGHTS FROM INDUSTRY EXPERTS 360 19.2 DISCUSSION GUIDE 360 19.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 365 19.4 CUSTOMIZATION OPTIONS 367 19.5 RELATED REPORTS 367 19.6 AUTHOR DETAILS 368

圖表清單 List of Tables & Figures

TABLE 1 HEAT PUMP MARKET: INCLUSIONS AND EXCLUSIONS 34 TABLE 2 REFRIGERANTS AND THEIR COMMON APPLICATIONS 51 TABLE 3 INTERCONNECTED MARKETS 53 TABLE 4 KEY MOVES AND STRATEGIC FOCUS OF TIER-1/2/3 PLAYERS 55 TABLE 5 IMPACT OF PORTER’S FIVE FORCES ANALYSIS 56 TABLE 6 GDP PERCENTAGE CHANGE, BY COUNTRY, 2021–2029 59 TABLE 7 ROLE OF COMPANIES IN HEAT PUMP ECOSYSTEM 63 TABLE 8 PRICING RANGE OF HEAT PUMPS, BY TECHNOLOGY, 2025 (USD) 64 TABLE 9 ASP TREND OF HEAT PUMPS, BY REGION, 2023–2025 (USD) 65 TABLE 10 IMPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2025 (USD) 65 TABLE 11 EXPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2025 (USD) 66 TABLE 12 LIST OF KEY CONFERENCES AND EVENTS, 2026–2027 67 TABLE 13 US-ADJUSTED RECIPROCAL TARIFF RATES, 2025 (USD BILLION) 71 TABLE 14 EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON APPLICATIONS DUE TO TARIFF IMPACT 72 TABLE 15 LIST OF KEY PATENTS, 2022–2025 81 TABLE 16 HEAT PUMP FUTURE APPLICATIONS 82 TABLE 17 KEY USE CASES AND MARKET POTENTIAL 83 TABLE 18 BEST PRACTICES FOLLOWED BY MAJOR COMPANIES 84 TABLE 19 CASE STUDIES RELATED TO AI/GEN AI IMPLEMENTATION 84 TABLE 20 INTERCONNECTED ECOSYSTEMS AND IMPACT ON HEAT PUMP MARKET PLAYERS 85 TABLE 21 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 86 TABLE 22 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 86 TABLE 23 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 87 TABLE 24 MIDDLE EAST & AFRICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 87 TABLE 25 LATIN AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 87 TABLE 26 GLOBAL REFRIGERANT POLICIES AND INITIATIVES 88 TABLE 27 EUROPE REFRIGERANT POLICIES AND INITIATIVES 90 TABLE 28 REGULATORY FRAMEWORK IN EUROPE HEAT PUMP MARKET: KEY REGULATIONS, SUBSIDIES, AND POLICIES 92 TABLE 29 REGULATORY FRAMEWORK IN ASIA PACIFIC HEAT PUMP MARKET: KEY REGULATIONS, SUBSIDIES, AND POLICIES 93 TABLE 30 REGULATORY FRAMEWORK IN NORTH AMERICA HEAT PUMP MARKET: KEY REGULATIONS, SUBSIDIES, AND POLICIES 94 TABLE 31 REGULATORY FRAMEWORK IN MIDDLE EAST & AFRICA HEAT PUMP MARKET: KEY REGULATIONS, SUBSIDIES AND POLICIES 96 TABLE 32 REGULATORY FRAMEWORK IN LATIN AMERICA HEAT PUMP MARKET: KEY REGULATIONS, SUBSIDIES, AND POLICIES 98 TABLE 33 HEAT PUMP POLICIES IN EUROPE: TECHNOLOGY AND CAPACITY IMPACT BY PROGRAM 98 TABLE 34 IMPACT OF REGULATORY POLICIES ON SUSTAINABILITY INITIATIVES 106 TABLE 35 KEY STAKEHOLDERS IN HEAT PUMP MARKET 110 TABLE 36 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER (%) 112 TABLE 37 BUYING CRITERIA, BY END USER 112 TABLE 38 HEAT PUMP MARKET, BY TYPE, 2021–2025 (USD MILLION) 118 TABLE 39 HEAT PUMP MARKET, BY TYPE, 2026–2031 (USD MILLION) 118 TABLE 40 REVERSIBLE: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 119 TABLE 41 REVERSIBLE: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 119 TABLE 42 NON-REVERSIBLE: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 120 TABLE 43 NON-REVERSIBLE: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 120 TABLE 44 HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 122 TABLE 45 HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 123 TABLE 46 UP TO 10 KW: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 123 TABLE 47 UP TO 10 KW: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 124 TABLE 48 10–20 KW: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 124 TABLE 49 10–20 KW: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 125 TABLE 50 20–30 KW: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 125 TABLE 51 20–30 KW: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 126 TABLE 52 ABOVE 30 KW: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 126 TABLE 53 ABOVE 30 KW: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 127 TABLE 54 HEAT PUMP MARKET, BY REFRIGERANT, 2021–2025 (USD MILLION) 129 TABLE 55 HEAT PUMP MARKET, BY REFRIGERANT, 2026–2031 (USD MILLION) 130 TABLE 56 R410A: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 130 TABLE 57 R410A: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 131 TABLE 58 R407C: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 131 TABLE 59 R407C: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 132 TABLE 60 R744: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 133 TABLE 61 R744: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 133 TABLE 62 R290: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 134 TABLE 63 R290: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 134 TABLE 64 R717: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 135 TABLE 65 R717: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 135 TABLE 66 OTHER REFRIGERANTS: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 136 TABLE 67 OTHER REFRIGERANTS: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 136 TABLE 68 HEAT PUMP MARKET, BY TECHNOLOGY, 2021–2025 (USD MILLION) 138 TABLE 69 HEAT PUMP MARKET, BY TECHNOLOGY, 2026–2031 (USD MILLION) 139 TABLE 70 HEAT PUMP MARKET, BY TECHNOLOGY, 2021–2025 (MILLION UNITS) 139 TABLE 71 HEAT PUMP MARKET, BY TECHNOLOGY, 2026–2031 (MILLION UNITS) 139 TABLE 72 AIR-TO-AIR: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 140 TABLE 73 AIR-TO-AIR: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 140 TABLE 74 AIR-TO-WATER: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 141 TABLE 75 AIR-TO-WATER: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 141 TABLE 76 WATER-SOURCE: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 142 TABLE 77 WATER-SOURCE: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 142 TABLE 78 GROUND-SOURCE (GEOTHERMAL): HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 143 TABLE 79 GROUND-SOURCE (GEOTHERMAL): HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 143 TABLE 80 HYBRID: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 144 TABLE 81 HYBRID: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 145 TABLE 82 PHOTOVOLTAIC-THERMAL (PVT): HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 146 TABLE 83 PHOTOVOLTAIC-THERMAL (PVT): HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 146 TABLE 84 HEAT PUMP MARKET, BY APPLICATION, 2021–2025 (USD MILLION) 148 TABLE 85 HEAT PUMP MARKET, BY APPLICATION, 2026–2031 (USD MILLION) 148 TABLE 86 HEATING: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 149 TABLE 87 HEATING: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 149 TABLE 88 HEATING: HEAT PUMP MARKET, BY HEATING TYPE, 2021–2025 (USD MILLION) 150 TABLE 89 HEATING: HEAT PUMP MARKET, BY HEATING TYPE, 2026–2031 (USD MILLION) 150 TABLE 90 WATER HEATING: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 151 TABLE 91 WATER HEATING: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 151 TABLE 92 DISTRICT & SPACE HEATING: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 152 TABLE 93 DISTRICT & SPACE HEATING: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 152 TABLE 94 HEATING & COOLING: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 153 TABLE 95 HEATING & COOLING: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 153 TABLE 96 HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 155 TABLE 97 HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 155 TABLE 98 RESIDENTIAL: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 156 TABLE 99 RESIDENTIAL: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 156 TABLE 100 COMMERCIAL: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 157 TABLE 101 COMMERCIAL: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 158 TABLE 102 INDUSTRIAL: HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 158 TABLE 103 INDUSTRIAL: HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 159 TABLE 104 HEAT PUMP MARKET, BY REGION, 2021–2025 (USD MILLION) 162 TABLE 105 HEAT PUMP MARKET, BY REGION, 2026–2031 (USD MILLION) 162 TABLE 106 HEAT PUMP MARKET, BY REGION, 2021–2025 (MILLION UNITS) 162 TABLE 107 HEAT PUMP MARKET, BY REGION, 2026–2031 (MILLION UNITS) 163 TABLE 108 ASIA PACIFIC: HEAT PUMP MARKET, BY TECHNOLOGY, 2021–2025 (USD MILLION) 164 TABLE 109 ASIA PACIFIC: HEAT PUMP MARKET, BY TECHNOLOGY, 2026–2031 (USD MILLION) 165 TABLE 110 ASIA PACIFIC: HEAT PUMP MARKET, BY TYPE, 2021–2025 (USD MILLION) 165 TABLE 111 ASIA PACIFIC: HEAT PUMP MARKET, BY TYPE, 2026–2031 (USD MILLION) 165 TABLE 112 ASIA PACIFIC: HEAT PUMP MARKET, BY REFRIGERANT, 2021–2025 (USD MILLION) 166 TABLE 113 ASIA PACIFIC: HEAT PUMP MARKET, BY REFRIGERANT, 2026–2031 (USD MILLION) 166 TABLE 114 ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 166 TABLE 115 ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 167 TABLE 116 ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 167 TABLE 117 ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 167 TABLE 118 ASIA PACIFIC: HEAT PUMP MARKET, BY APPLICATION, 2021–2025 (USD MILLION) 167 TABLE 119 ASIA PACIFIC: HEAT PUMP MARKET, BY APPLICATION, 2026–2031 (USD MILLION) 168 TABLE 120 ASIA PACIFIC: HEAT PUMP MARKET, BY HEATING TYPE, 2021–2025 (USD MILLION) 168 TABLE 121 ASIA PACIFIC: HEAT PUMP MARKET, BY HEATING TYPE, 2026–2031 (USD MILLION) 168 TABLE 122 ASIA PACIFIC: HEAT PUMP MARKET, BY COUNTRY, 2021–2025 (USD MILLION) 168 TABLE 123 ASIA PACIFIC: HEAT PUMP MARKET, BY COUNTRY, 2026–2031 (USD MILLION) 169 TABLE 124 CHINA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 170 TABLE 125 CHINA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 170 TABLE 126 CHINA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 170 TABLE 127 CHINA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 171 TABLE 128 INDIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 172 TABLE 129 INDIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 172 TABLE 130 INDIA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 172 TABLE 131 INDIA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 172 TABLE 132 JAPAN: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 173 TABLE 133 JAPAN: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 174 TABLE 134 JAPAN: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 174 TABLE 135 JAPAN: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 174 TABLE 136 SOUTH KOREA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 175 TABLE 137 SOUTH KOREA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 175 TABLE 138 SOUTH KOREA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 176 TABLE 139 SOUTH KOREA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 176 TABLE 140 AUSTRALIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 177 TABLE 141 AUSTRALIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 177 TABLE 142 AUSTRALIA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 177 TABLE 143 AUSTRALIA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 178 TABLE 144 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 179 TABLE 145 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 179 TABLE 146 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 179 TABLE 147 REST OF ASIA PACIFIC: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 179 TABLE 148 EUROPE: HEAT PUMP MARKET, BY TECHNOLOGY, 2021–2025 (USD MILLION) 181 TABLE 149 EUROPE: HEAT PUMP MARKET, BY TECHNOLOGY, 2026–2031 (USD MILLION) 181 TABLE 150 EUROPE: HEAT PUMP MARKET, BY TYPE, 2021–2025 (USD MILLION) 181 TABLE 151 EUROPE: HEAT PUMP MARKET, BY TYPE, 2026–2031 (USD MILLION) 182 TABLE 152 EUROPE: HEAT PUMP MARKET, BY REFRIGERANT, 2021–2025 (USD MILLION) 182 TABLE 153 EUROPE: HEAT PUMP MARKET, BY REFRIGERANT, 2026–2031 (USD MILLION) 182 TABLE 154 EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 183 TABLE 155 EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 183 TABLE 156 EUROPE: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 183 TABLE 157 EUROPE: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 183 TABLE 158 EUROPE: HEAT PUMP MARKET, BY APPLICATION, 2021–2025 (USD MILLION) 184 TABLE 159 EUROPE: HEAT PUMP MARKET, BY APPLICATION, 2026–2031 (USD MILLION) 184 TABLE 160 EUROPE: HEAT PUMP MARKET, BY HEATING TYPE, 2021–2025 (USD MILLION) 184 TABLE 161 EUROPE: HEAT PUMP MARKET, BY HEATING TYPE, 2026–2031 (USD MILLION) 184 TABLE 162 EUROPE: HEAT PUMP MARKET, BY COUNTRY, 2021–2025 (USD MILLION) 185 TABLE 163 EUROPE: HEAT PUMP MARKET, BY COUNTRY, 2026–2031 (USD MILLION) 185 TABLE 164 FRANCE: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 186 TABLE 165 FRANCE: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 186 TABLE 166 FRANCE: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 186 TABLE 167 FRANCE: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 187 TABLE 168 ITALY: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 188 TABLE 169 ITALY: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 188 TABLE 170 ITALY: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 188 TABLE 171 ITALY: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 188 TABLE 172 GERMANY: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 189 TABLE 173 GERMANY: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 190 TABLE 174 GERMANY: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 190 TABLE 175 GERMANY: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 190 TABLE 176 UK: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 191 TABLE 177 UK: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 192 TABLE 178 UK: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 192 TABLE 179 UK: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 192 TABLE 180 SPAIN: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 193 TABLE 181 SPAIN: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 193 TABLE 182 SPAIN: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 194 TABLE 183 SPAIN: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 194 TABLE 184 REST OF EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 195 TABLE 185 REST OF EUROPE: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 195 TABLE 186 REST OF EUROPE: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 195 TABLE 187 REST OF EUROPE: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 195 TABLE 188 NORTH AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2021–2025 (USD MILLION) 197 TABLE 189 NORTH AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2026–2031 (USD MILLION) 198 TABLE 190 NORTH AMERICA: HEAT PUMP MARKET, BY TYPE, 2021–2025 (USD MILLION) 198 TABLE 191 NORTH AMERICA: HEAT PUMP MARKET, BY TYPE, 2026–2031 (USD MILLION) 198 TABLE 192 NORTH AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2021–2025 (USD MILLION) 199 TABLE 193 NORTH AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2026–2031 (USD MILLION) 199 TABLE 194 NORTH AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 199 TABLE 195 NORTH AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 200 TABLE 196 NORTH AMERICA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 200 TABLE 197 NORTH AMERICA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 200 TABLE 198 NORTH AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2021–2025 (USD MILLION) 200 TABLE 199 NORTH AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2026–2031 (USD MILLION) 201 TABLE 200 NORTH AMERICA: HEAT PUMP MARKET, BY HEATING TYPE, 2021–2025 (USD MILLION) 201 TABLE 201 NORTH AMERICA: HEAT PUMP MARKET, BY HEATING TYPE, 2026–2031 (USD MILLION) 201 TABLE 202 NORTH AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2021–2025 (USD MILLION) 201 TABLE 203 NORTH AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2026–2031 (USD MILLION) 202 TABLE 204 US: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 202 TABLE 205 US: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 203 TABLE 206 US: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 203 TABLE 207 US: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 203 TABLE 208 CANADA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 204 TABLE 209 CANADA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 204 TABLE 210 CANADA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 205 TABLE 211 CANADA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 205 TABLE 212 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2021–2025 (USD MILLION) 206 TABLE 213 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2026–2031 (USD MILLION) 206 TABLE 214 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TYPE, 2021–2025 (USD MILLION) 206 TABLE 215 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY TYPE, 2026–2031 (USD MILLION) 207 TABLE 216 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY REFRIGERANT, 2021–2025 (USD MILLION) 207 TABLE 217 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY REFRIGERANT, 2026–2031 (USD MILLION) 207 TABLE 218 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 208 TABLE 219 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 208 TABLE 220 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 208 TABLE 221 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 208 TABLE 222 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY APPLICATION, 2021–2025 (USD MILLION) 209 TABLE 223 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY APPLICATION, 2026–2031 (USD MILLION) 209 TABLE 224 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY HEATING TYPE, 2021–2025 (USD MILLION) 209 TABLE 225 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY HEATING TYPE, 2026–2031 (USD MILLION) 209 TABLE 226 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY COUNTRY, 2021–2025 (USD MILLION) 210 TABLE 227 MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY COUNTRY, 2026–2031 (USD MILLION) 210 TABLE 228 GCC: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 211 TABLE 229 GCC: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 211 TABLE 230 GCC: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 211 TABLE 231 GCC: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 211 TABLE 232 SAUDI ARABIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 212 TABLE 233 SAUDI ARABIA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 213 TABLE 234 SAUDI ARABIA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 213 TABLE 235 SAUDI ARABIA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 213 TABLE 236 UAE: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 214 TABLE 237 UAE: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 214 TABLE 238 UAE: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 214 TABLE 239 UAE: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 215 TABLE 240 REST OF GCC: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 215 TABLE 241 REST OF GCC: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 216 TABLE 242 REST OF GCC: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 216 TABLE 243 REST OF GCC: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 216 TABLE 244 SOUTH AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 217 TABLE 245 SOUTH AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 217 TABLE 246 SOUTH AFRICA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 218 TABLE 247 SOUTH AFRICA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 218 TABLE 248 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 219 TABLE 249 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 219 TABLE 250 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 219 TABLE 251 REST OF MIDDLE EAST & AFRICA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 220 TABLE 252 LATIN AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2021–2025 (USD MILLION) 221 TABLE 253 LATIN AMERICA: HEAT PUMP MARKET, BY TECHNOLOGY, 2026–2031 (USD MILLION) 221 TABLE 254 LATIN AMERICA: HEAT PUMP MARKET, BY TYPE, 2021–2025 (USD MILLION) 221 TABLE 255 LATIN AMERICA: HEAT PUMP MARKET, BY TYPE, 2026–2031 (USD MILLION) 221 TABLE 256 LATIN AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2021–2025 (USD MILLION) 222 TABLE 257 LATIN AMERICA: HEAT PUMP MARKET, BY REFRIGERANT, 2026–2031 (USD MILLION) 222 TABLE 258 LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 222 TABLE 259 LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 223 TABLE 260 LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 223 TABLE 261 LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 223 TABLE 262 LATIN AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2021–2025 (USD MILLION) 223 TABLE 263 LATIN AMERICA: HEAT PUMP MARKET, BY APPLICATION, 2026–2031 (USD MILLION) 224 TABLE 264 LATIN AMERICA: HEAT PUMP MARKET, BY HEATING TYPE, 2021–2025 (USD MILLION) 224 TABLE 265 LATIN AMERICA: HEAT PUMP MARKET, BY HEATING TYPE, 2026–2031 (USD MILLION) 224 TABLE 266 LATIN AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2021–2025 (USD MILLION) 224 TABLE 267 LATIN AMERICA: HEAT PUMP MARKET, BY COUNTRY, 2026–2031 (USD MILLION) 225 TABLE 268 BRAZIL: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 225 TABLE 269 BRAZIL: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 226 TABLE 270 BRAZIL: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 226 TABLE 271 BRAZIL: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 226 TABLE 272 MEXICO: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 227 TABLE 273 MEXICO: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 227 TABLE 274 MEXICO: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 228 TABLE 275 MEXICO: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 228 TABLE 276 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2021–2025 (USD MILLION) 229 TABLE 277 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY RATED CAPACITY, 2026–2031 (USD MILLION) 229 TABLE 278 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2021–2025 (USD MILLION) 229 TABLE 279 REST OF LATIN AMERICA: HEAT PUMP MARKET, BY END USER, 2026–2031 (USD MILLION) 230 TABLE 280 HEAT PUMP MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, JANUARY 2023–JULY 2026 231 TABLE 281 HEAT PUMP MARKET: DEGREE OF COMPETITION, 2025 233 TABLE 282 HEAT PUMP MARKET EVALUATION FRAMEWORK, 2021–2025 236 TABLE 283 HEAT PUMP MARKET: REGION FOOTPRINT 243 TABLE 284 HEAT PUMP MARKET: TECHNOLOGY FOOTPRINT 244 TABLE 285 HEAT PUMP MARKET: TYPE FOOTPRINT 245 TABLE 286 HEAT PUMP MARKET: RATED CAPACITY FOOTPRINT 246 TABLE 287 HEAT PUMP MARKET: REFRIGERANT FOOTPRINT 247 TABLE 288 HEAT PUMP MARKET: APPLICATION FOOTPRINT 248 TABLE 289 HEAT PUMP MARKET: END USER FOOTPRINT 249 TABLE 290 HEAT PUMP MARKET: DETAILED LIST OF KEY STARTUPS/SMES 252 TABLE 291 HEAT PUMP MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (1/2) 252 TABLE 292 HEAT PUMP MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (2/2) 252 TABLE 293 HEAT PUMP MARKET: PRODUCT LAUNCHES, JANUARY 2023–JULY 2026 253 TABLE 294 HEAT PUMP MARKET: DEALS, JANUARY 2023–JULY 2026 254 TABLE 295 HEAT PUMP MARKET: EXPANSIONS, JANUARY 2023–JULY 2026 256 TABLE 296 HEAT PUMP MARKET: OTHER DEVELOPMENTS, JANUARY 2023–JULY 2026 256 TABLE 297 PANASONIC HOLDINGS CORPORATION: COMPANY OVERVIEW 258 TABLE 298 PANASONIC HOLDINGS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 259 TABLE 299 PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES 260 TABLE 300 PANASONIC HOLDINGS CORPORATION: DEALS 261 TABLE 301 PANASONIC HOLDINGS CORPORATION: EXPANSIONS 261 TABLE 302 PANASONIC HOLDINGS CORPORATION: OTHER DEVELOPMENTS 262 TABLE 303 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW 264 TABLE 304 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 265 TABLE 305 MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES 266 TABLE 306 MITSUBISHI ELECTRIC CORPORATION: EXPANSIONS 267 TABLE 307 MITSUBISHI ELECTRIC CORPORATION: OTHER DEVELOPMENTS 268 TABLE 308 SAMSUNG: COMPANY OVERVIEW 269 TABLE 309 SAMSUNG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 270 TABLE 310 SAMSUNG: PRODUCT LAUNCHES 271 TABLE 311 SAMSUNG: DEALS 272 TABLE 312 SAMSUNG: EXPANSIONS 272 TABLE 313 SAMSUNG: OTHER DEVELOPMENTS 273 TABLE 314 MIDEA: COMPANY OVERVIEW 275 TABLE 315 MIDEA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 276 TABLE 316 MIDEA: PRODUCT LAUNCHES 277 TABLE 317 MIDEA: DEALS 278 TABLE 318 MIDEA: EXPANSIONS 278 TABLE 319 MIDEA: OTHER DEVELOPMENTS 279 TABLE 320 DENSO CORPORATION: COMPANY OVERVIEW 280 TABLE 321 DENSO CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 281 TABLE 322 DENSO CORPORATION: EXPANSIONS 282 TABLE 323 DENSO CORPORATION: OTHER DEVELOPMENTS 282 TABLE 324 DAIKIN: COMPANY OVERVIEW 284 TABLE 325 DAIKIN: PRODUCTS/SOLUTIONS/SERVICES OFFERED 285 TABLE 326 DAIKIN: PRODUCT LAUNCHES 287 TABLE 327 DAIKIN: DEALS 287 TABLE 328 DAIKIN: OTHER DEVELOPMENTS 288 TABLE 329 CARRIER: COMPANY OVERVIEW 289 TABLE 330 CARRIER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 290 TABLE 331 CARRIER: PRODUCT LAUNCHES 291 TABLE 332 CARRIER: EXPANSIONS 293 TABLE 333 CARRIER: OTHER DEVELOPMENTS 294 TABLE 334 TRANE TECHNOLOGIES PLC: COMPANY OVERVIEW 295 TABLE 335 TRANE TECHNOLOGIES PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 296 TABLE 336 TRANE TECHNOLOGIES PLC: PRODUCT LAUNCHES 298 TABLE 337 TRANE TECHNOLOGIES PLC: DEALS 298 TABLE 338 TRANE TECHNOLOGIES PLC: EXPANSIONS 299 TABLE 339 TRANE TECHNOLOGIES PLC: OTHER DEVELOPMENTS 299 TABLE 340 JOHNSON CONTROLS: COMPANY OVERVIEW 300 TABLE 341 JOHNSON CONTROLS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 301 TABLE 342 JOHNSON CONTROLS: PRODUCT LAUNCHES 303 TABLE 343 JOHNSON CONTROLS: DEALS 304 TABLE 344 JOHNSON CONTROLS: EXPANSIONS 305 TABLE 345 JOHNSON CONTROLS: OTHER DEVELOPMENTS 305 TABLE 346 BOSCH THERMOTECHNOLOGY LTD.: COMPANY OVERVIEW 307 TABLE 347 BOSCH THERMOTECHNOLOGY LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 307 TABLE 348 BOSCH THERMOTECHNOLOGY LTD.: PRODUCT LAUNCHES 308 TABLE 349 BOSCH THERMOTECHNOLOGY LTD.: DEALS 309 TABLE 350 BOSCH THERMOTECHNOLOGY LTD.: EXPANSIONS 309 TABLE 351 BOSCH THERMOTECHNOLOGY LTD.: OTHER DEVELOPMENTS 310 TABLE 352 LG ELECTRONICS: COMPANY OVERVIEW 311 TABLE 353 LG ELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 312 TABLE 354 LG ELECTRONICS: PRODUCT LAUNCHES 313 TABLE 355 LG ELECTRONICS: DEALS 313 TABLE 356 LG ELECTRONICS: EXPANSIONS 314 TABLE 357 LG ELECTRONICS: OTHER DEVELOPMENTS 314 TABLE 358 FUJITSU GENERAL: COMPANY OVERVIEW 316 TABLE 359 FUJITSU GENERAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 317 TABLE 360 FUJITSU GENERAL: PRODUCT LAUNCHES 319 TABLE 361 FUJITSU GENERAL: DEALS 320 TABLE 362 THERMAX LIMITED: COMPANY OVERVIEW 321 TABLE 363 THERMAX LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 322 TABLE 364 THERMAX LIMITED: DEALS 324 TABLE 365 GEA GROUP AKTIENGESELLSCHAFT: COMPANY OVERVIEW 325 TABLE 366 GEA GROUP AKTIENGESELLSCHAFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 327 TABLE 367 GEA GROUP AKTIENGESELLSCHAFT: DEALS 328 TABLE 368 GEA GROUP AKTIENGESELLSCHAFT: OTHER DEVELOPMENTS 329 TABLE 369 LENNOX INTERNATIONAL INC.: COMPANY OVERVIEW 330 TABLE 370 LENNOX INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 331 TABLE 371 LENNOX INTERNATIONAL INC.: PRODUCT LAUNCHES 332 TABLE 372 LENNOX INTERNATIONAL INC.: DEALS 333 TABLE 373 GUANGZHOU SPRSUN NEW ENERGY TECHNOLOGY DEVELOPMENT CO., LTD.: COMPANY OVERVIEW 334 TABLE 374 GLEN DIMPLEX GROUP: COMPANY OVERVIEW 335 TABLE 375 NIBE LIMITED: COMPANY OVERVIEW 336 TABLE 376 RHEEM MANUFACTURING COMPANY: COMPANY OVERVIEW 337 TABLE 377 DANDELION ENERGY: COMPANY OVERVIEW 338 TABLE 378 ZEALUX ELECTRIC LIMITED: COMPANY OVERVIEW 338 TABLE 379 VAILLANT GROUP: COMPANY OVERVIEW 339 TABLE 380 EVO ENERGY TECHNOLOGIES: COMPANY OVERVIEW 340 TABLE 381 ARISTON HOLDINGS N.V.: COMPANY OVERVIEW 341 TABLE 382 A.O. SMITH: COMPANY OVERVIEW 342 TABLE 383 ENERGEN HYBRID SYSTEMS LIMITED: COMPANY OVERVIEW 343 TABLE 384 NAMMASWADESHI: COMPANY OVERVIEW 344 TABLE 385 ECOTECH SOLUTIONS: COMPANY OVERVIEW 345 TABLE 386 MAJOR SECONDARY SOURCES 348 TABLE 387 PRIMARY INTERVIEW PARTICIPANTS 349 TABLE 388 DATA CAPTURED FROM PRIMARY SOURCES 350 TABLE 389 HEAT PUMP MARKET: RISK ANALYSIS 359 FIGURE 1 HEAT PUMP MARKET SEGMENTATION AND REGIONAL SCOPE 33 FIGURE 2 HEAT PUMP MARKET: DURATION CONSIDERED 35 FIGURE 3 HEAT PUMP MARKET SCENARIO 38 FIGURE 4 GLOBAL HEAT PUMP MARKET SIZE, 2022–2031 38 FIGURE 5 MAJOR STRATEGIES ADOPTED BY KEY PLAYERS IN HEAT PUMP MARKET, 2023–2026 39 FIGURE 6 DISRUPTIONS INFLUENCING GROWTH OF HEAT PUMP MARKET 39 FIGURE 7 HIGH-GROWTH SEGMENTS IN HEAT PUMP MARKET, 2026–2031 40 FIGURE 8 NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 41 FIGURE 9 RISING ENERGY CONSUMPTION AND ELECTRIFICATION TO DRIVE HEAT PUMP MARKET 42 FIGURE 10 HEATING SEGMENT AND ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2025 43 FIGURE 11 AIR-TO-AIR SEGMENT TO DOMINATE HEAT PUMP MARKET FROM 2026 TO 2031 43 FIGURE 12 UP TO 10 KW SEGMENT TO HOLD LARGEST MARKET SHARE IN 2026 AND 2031 44 FIGURE 13 COMMERCIAL SEGMENT TO EXHIBIT HIGHEST CAGR BETWEEN 2026 AND 2031 44 FIGURE 14 HEATING & COOLING SEGMENT TO RECORD HIGHER CAGR BETWEEN 2026 AND 2031 45 FIGURE 15 NON-REVERSIBLE SEGMENT TO REGISTER HIGHER SHARE BETWEEN 2026 AND 2031 45 FIGURE 16 R410 SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2026 46 FIGURE 17 US TO REGISTER HIGHEST CAGR IN GLOBAL HEAT PUMP MARKET DURING FORECAST PERIOD 46 FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 47 FIGURE 19 HEAT PUMP PENETRATION IN SPACE AND WATER HEATING, 2025–2026 48 FIGURE 20 ANNUAL OWNERSHIP COSTS OF HEAT PUMPS VS. GAS AND BIOMASS BOILERS, 2025 50 FIGURE 21 PORTER’S FIVE FORCES ANALYSIS 56 FIGURE 22 HEAT PUMP SUPPLY CHAIN ANALYSIS 61 FIGURE 23 HEAT PUMP ECOSYSTEM 62 FIGURE 24 AVERAGE SELLING PRICE TREND OF HEAT PUMPS, BY REGION, 2023–2025 64 FIGURE 25 IMPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2021–2025 66 FIGURE 26 EXPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2021–2025 67 FIGURE 27 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS 68 FIGURE 28 INVESTMENT AND FUNDING SCENARIO, 2025 69 FIGURE 29 PATENTS APPLIED AND GRANTED, 2016–2025 80 FIGURE 30 FUTURE APPLICATIONS OF HEAT PUMPS 82 FIGURE 31 DECISION-MAKING FACTORS 109 FIGURE 32 BUYING EVALUATION CRITERIA IN HEAT PUMP MARKET 111 FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER 111 FIGURE 34 KEY BUYING CRITERIA, BY END USER 112 FIGURE 35 NON-REVERSIBLE SEGMENT CAPTURED LARGER MARKET SHARE IN 2025 118 FIGURE 36 UP TO 10 KW SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2025 122 FIGURE 37 R410A SEGMENT CAPTURED LARGEST SHARE OF HEAT PUMP MARKET IN 2025 129 FIGURE 38 AIR-TO-AIR SEGMENT HELD LARGEST SHARE OF HEAT PUMP MARKET IN 2025 138 FIGURE 39 HEATING SEGMENT CAPTURED LARGER MARKET SHARE IN 2025 148 FIGURE 40 RESIDENTIAL SEGMENT HELD LARGEST MARKET SHARE IN 2025 155 FIGURE 41 ASIA PACIFIC HELD LARGEST SHARE OF HEAT PUMP MARKET IN 2025 161 FIGURE 42 NORTH AMERICA TO REGISTER HIGHEST CAGR IN GLOBAL HEAT PUMP MARKET DURING FORECAST PERIOD 161 FIGURE 43 ASIA PACIFIC: HEAT PUMP MARKET SNAPSHOT 164 FIGURE 44 NORTH AMERICA: HEAT PUMP MARKET SNAPSHOT 197 FIGURE 45 MARKET SHARE ANALYSIS OF COMPANIES OFFERING HEAT PUMPS, 2025 234 FIGURE 46 HEAT PUMP MARKET: REVENUE ANALYSIS OF TOP FOUR PLAYERS, 2021–2025 237 FIGURE 47 PRODUCT COMPARATIVE ANALYSIS 238 FIGURE 48 COMPANY VALUATION 239 FIGURE 49 FINANCIAL METRICS (EV/EBITDA) 240 FIGURE 50 HEAT PUMP MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2025 241 FIGURE 51 HEAT PUMP MARKET: COMPANY FOOTPRINT 242 FIGURE 52 HEAT PUMP MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2025 251 FIGURE 53 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT 259 FIGURE 54 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT 265 FIGURE 55 SAMSUNG: COMPANY SNAPSHOT 270 FIGURE 56 MIDEA: COMPANY SNAPSHOT 276 FIGURE 57 DENSO CORPORATION: COMPANY SNAPSHOT 281 FIGURE 58 DAIKIN : COMPANY SNAPSHOT 285 FIGURE 59 CARRIER: COMPANY SNAPSHOT 290 FIGURE 60 TRANE TECHNOLOGIES PLC: COMPANY SNAPSHOT 296 FIGURE 61 JOHNSON CONTROLS: COMPANY SNAPSHOT 301 FIGURE 62 LG ELECTRONICS: COMPANY SNAPSHOT 312 FIGURE 63 FUJITSU GENERAL: COMPANY SNAPSHOT 317 FIGURE 64 THERMAX LIMITED: COMPANY SNAPSHOT 322 FIGURE 65 GEA GROUP AKTIENGESELLSCHAFT: COMPANY SNAPSHOT 326 FIGURE 66 LENNOX INTERNATIONAL INC.: COMPANY SNAPSHOT 331 FIGURE 67 HEAT PUMP MARKET: RESEARCH DESIGN 347 FIGURE 68 DATA CAPTURED FROM SECONDARY SOURCES 348 FIGURE 69 CORE FINDINGS FROM INDUSTRY EXPERTS 349 FIGURE 70 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION, AND REGION 350 FIGURE 71 HEAT PUMP MARKET: DATA TRIANGULATION 352 FIGURE 72 HEAT PUMP MARKET: BOTTOM-UP APPROACH 353 FIGURE 73 HEAT PUMP MARKET: TOP-DOWN APPROACH 354 FIGURE 74 HEAT PUMP MARKET: DEMAND-SIDE ANALYSIS 354 FIGURE 75 KEY METRICS CONSIDERED TO ASSESS SUPPLY OF HEAT PUMPS 356 FIGURE 76 HEAT PUMP MARKET: SUPPLY-SIDE ANALYSIS 357 FIGURE 77 HEAT PUMP MARKET: INDUSTRY CONCENTRATION, 2025 358 FIGURE 78 HEAT PUMP MARKET: RESEARCH LIMITATIONS 359 FIGURE 79 HEAT PUMP MARKET: INDUSTRY EXPERT INSIGHTS 360

常見問題

這份報告可以先索取樣本嗎？

可以。建議購買前先申請樣本，提出申請後約 2 個工作天內提供，您可以先確認內容涵蓋範圍是否符合需求。

報告價格如何計算？

報告以美元標價，台幣報價依當日匯率換算並加計 5% 營業稅。不同授權版本（單人／多人／企業全站）價格不同，量子訊息會評估您的使用情境後提供最優惠報價。

下單後多久交付？如何付款？

一般 3–7 個工作天交付，實際依出版商狀況於下單前確認。收到報告確認無誤後開立台幣發票，30 天內電匯付款即可。

量子訊息有限公司為 MarketsandMarkets 在台灣的授權代理，提供報告購買、樣本申請與授權諮詢。電話 +886 2 7751 5192 ・聯絡我們