Heat Pump Water Heater Market reached nearly USD 2.5 Bn in 2021, Says Global Market Insights Inc.

Prominent players profiled in the heat pump water heater market report include Rheem Manufacturing Company, A. O. Smith, Vaillant Group, SmartHeat Deutschland GmbH, Bradford White Corporation, STIEBEL ELTRON GmbH & Co. among others.

Selbyville, Delaware, June 13, 2022 (GLOBE NEWSWIRE) --

Heat Pump Water Heater Market was valued above USD 2.5 billion in 2021, according to latest study by Global Market Insights Inc. The increasing power demand across residential & commercial buildings along with the adoption of innovative and clean water heating technology to reduce the overall carbon footprint is set to positively propel the business scenario.

>100 - ≤200 gallons capacity HPWHs are anticipated to witness a surge in demand on account of their growing application across large commercial buildings. Favorable government incentives & policies to promote energy-efficient and clean technologies for hospitals, educational buildings, and other commercial establishments will boost technology acceptance globally. Increasing efforts to replace conventional boilers and water heater units to reduce the overall carbon emission from heating & cooling appliances will further stimulate high-capacity systems requirements.

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The heat pump water heater market across the commercial sector will observe above 7% growth from 2022 to 2030 owing to growing investments in infrastructure development. The worldwide governments are readily investing in deploying hospitals, educational centers, retail stores, and offices to tackle the increased demand for their services. In addition, the growing urge for hot water in hotels and restaurants will fuel the need for clean and energy-efficient water heating technology, which in turn, will drive the industry statistics.

The Asia Pacific heat pump water heater industry is projected to witness significant growth due to the soaring population coupled with ongoing urbanization and commercialization across developing nations. The current investments in the development of the residential application areas will proliferate the business statistics. Additionally, regional administrations are introducing various rebates, tax credits, and incentives to support the transition towards integration of sustainable technologies influencing the heat pump water heater industry dynamics.

Some of the key findings of the heat pump water heater market report include:

  • Paradigm shift toward the renewable sector for space & water heating areas will bolster the product adoption by 2030.

  • Retrofitting & refurbishment of commercial & residential establishments to enhance energy efficiency will spur the demand for cleaner technologies including HPWH systems.

  • The upsurge for heating across residential & commercial buildings will complement the growth of heat pump water heaters in cold countries including Canada, Germany, France, and many others.

  • Favorable government rebates & initiatives to integrate clean technologies and tackle the rising GHG footprint will sway product adoption.

  • Major players operating in the heat pump water heater market include A. O. Smith, DAIKIN INDUSTRIES, Ltd., Mitsubishi Electric Trane HVAC US LLC, SmartHeat Deutschland GmbH, Vaillant Group, Glen Dimplex Group, Panasonic Corporation, Rheem Manufacturing Company, Bradford White Corporation, SAMSUNG, Nyle Systems, LG Electronics, Ariston Holding N.V., Lochinvar, Hubbell Heaters, and Rinnai Corporation, STIEBEL ELTRON GmbH & Co. KG, among others.

  • Rapid urbanization across developing nations will drive the need for sustainable technologies including heat pumps in the future

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Partial Table of Contents (ToC) of the report

Chapter 2   Executive Summary
2.1    Heat pump water heater industry 3600 synopsis, 2018 - 2030
2.1.1    Business trends
2.1.2    Capacity trends
2.1.3    Application trends
2.1.4    Regional trends
Chapter 3   Heat Pump Water Heater Industry Insights
3.1    Industry ecosystem analysis
3.2    Innovation & sustainability landscape
3.3    Regulatory landscape
3.4    COVID- 19 impact on the industry outlook
3.5    Impact of Russia-Ukraine war on the industry
3.6    Price trend analysis
3.7    Industry impact forces
3.7.1    Growth drivers    North America    Growing emphasis towards energy efficient heating systems    Encouraging regulatory framework to mitigate carbon emissions    Europe    Paradigm shift towards adoption of low carbon technologies    Growing demand for heating solutions    Asia Pacific    Growing infrastructure spending and rate of urbanization
3.7.2    Industry pitfalls & challenges    High initial implementation cost coupled with availability of conventional technologies
3.8    Growth potential analysis
3.9    Porter's Analysis
3.10    Competitive landscape, 2021
3.11    PESTEL Analysis

Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/heat-pump-water-heater-market

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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