Rotary Heat Pump Compressors Market Size - By Product (Air Source, Ground Source, Water Source), & Forecast, 2024 - 2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

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Rotary Heat Pump Compressors Market Size - By Product (Air Source, Ground Source, Water Source), & Forecast, 2024 - 2032

Rotary Heat Pump Compressors Market Size

Rotary Heat Pump Compressors Market was valued at USD 1.8 billion in 2023 and is anticipated to grow at a CAGR of 12.9% from2023 to 2032. The rising need for effective heating & cooling solutions, presence of favorable regulatory framework, and increasing preference for energy-efficient units are some of the key imperatives catering to the industry expansion. Moreover, these systems are gaining popularity for their operational benefits, including dependable performance, high efficiency, cost-effectiveness, and compact design.

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The increasing adoption of energy-efficient systems, coupled with a rising demand for effective heating and cooling solutions will drive the market growth. These systems provide a range of operational advantages, such as high efficiency, reliable performance, compact size, and cost-effectiveness, contributing to a positive demand outlook. In addition, the ongoing trend of replacing conventional heating and cooling systems to curb carbon emissions, along with the widespread embrace of dependable and energy-efficient solutions across variety of applications, will further propel the heat pump industry growth.

Rotary Heat Pump Compressors Market Report Attributes
Report Attribute Details
Base Year 2023
Rotary Heat Pump Compressors Market Size in 2023 USD 1.8 Billion
Forecast Period 2024 to 2032
Forecast Period 2024 to 2032 CAGR 12.9%
2032 Value Projection USD 5.5 Billion
Historical Data for 2019 to 2023
No. of Pages 255
Tables, Charts & Figures 328
Segments covered Product and Region
Growth Drivers
  • Rising demand for renewable space heating & cooling technologies
  • Favorable regulatory environment for the deployment of energy efficient technologies
  • Introduction of beneficial incentive programmes for heat pump deployment
  • Variations in climatic conditions
Pitfalls & Challenges
  • Prevalence of alternative compressor technologies

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COVID- 19 Impact

The rotary heat pump compressors market has been significantly impacted by the COVID-19 pandemic. The global outbreak has resulted in decreased manufacturing activities, facility closures, labor shortages, limitations in product deployments, and disruptions in the supply chain. However, the growing need for effective space conditioning systems with minimal carbon footprint coupled with the introduction of new initiatives by key industry players will outperform the restraining factors attributed by the pandemic outbreak.

Rotary Heat Pump Compressors Market Trends

The rotary heat pump compressors industry growth is driven by the increasing demand for energy-efficient heating and cooling solutions, growing construction industry, and the accelerating utilization of heat pumps across residential, commercial and industrial establishments. In addition, the growing adoption of heat pumps across the industrial processes is set to contribute the industry growth given their capability to operate across diverse temperature and pressure ranges, making them suitable for a variety of heat pump systems.

The growing emphasis on energy-efficient HVAC systems coupled with the adoption of advanced technologies will augment the industry landscape. Furthermore, the introduction of stringent energy efficiency targets by the respective authorities and governments to limit the carbon emissions have led the industry participants to introduce enhanced technological systems with low emission will further augment the industry landscape.

Rotary Heat Pump Compressors Market Analysis

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air source heat pumps are on the rise! They're expected to grow like crazy over the next decade, with a 13% jump in popularity. Why all the buzz? Well, these babies can heat and cool your home or business super efficiently, especially in places with mild weather. They're like the Swiss Army knives of HVAC systems, and they're surprisingly easy to install. Plus, they're a money-saver in the long run. They're affordable to buy and they don't cost much to run. And because they can be used for both heating and cooling, you don't need to buy separate systems for each one. That makes them a great option for anyone who wants a comfortable home or workspace without breaking the bank.

Increasing investments from authorities, manufacturers, and regulatory bodies to enhance the efficiency of heating and cooling systems is set to contribute to the industry's growth. Moreover, the widespread use of these units across different temperatures and processes, enabling ambient heating and cooling, will drive the adoption of air source heat pump systems with rotary compressors as this versatility makes them suitable for various applications, positively augmenting the product demand.

Human-Like Version Attention all! water source heat pumps are about to make a big splash in the market! Why? People are waking up to the fact that our heating and cooling systems are guzzling energy and pumping out greenhouse gases. And guess what? water source heat pumps are way more efficient and better for the environment. Not only that, they're also buddies with smart building systems, which helps business owners and managers save even more energy and keep their systems running smoothly. But wait, there's more! Smart companies are pouring money into making these heat pumps even better, with cool stuff like variable speed compressors, fancy inverter technology, and smart controls. They're all about making these systems the best they can be. And let's not forget the businesses that are already using these water source heat pumps. They're loving the energy savings, the reduced maintenance, and the lower operating costs. That's a win-win-win! So, it's no wonder that the market for water source heat pumps is set to boom in the years to come.

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  • The Asia Pacific rotary heat pump compressors market was worth USD 600 million in 2023. The rapidly expanding construction activities along with the introduction of stringent building energy performance directives will boost the regional industry dynamics. The introduction of enhanced technological systems, increasing comfort levels and shifting consumer’s preference for adoption of reliable and efficient systems has driven the demand for reliable heat pump solutions which has further boosted the product demand.  
  • The Asia Pacific heat pump compressors industry is anticipated to witness significant growth owing to variations in climate conditions across different regions and increasing demand for efficient space heating and cooling solutions. Additionally, various governments have introduced favorable policies to promote the adoption of energy-efficient systems, coupled with rising disposable incomes, which will positively impact the industry.
  • Moreover, the expanding urban population has led to a significant rise in the deployment of heat pumps in both residential and commercial buildings, contributing to the overall growth of the industry.

Rotary Heat Pump Compressors Market Share

Prominent manufacturers operating across rotary heat pump compressors industry are actively focusing on making strategic alliances, collaborations, and partnerships coupled with mergers and acquisitions to strengthen their industry presence. Ongoing initiatives to introduce new & advanced products along with the expansion of manufacturing capabilities by the key industry players will further augment the industry growth.

Rotary Heat Pump Compressors Market Companies

Major players in the industry include

  • Trane
  • CAREL INDUSTRIES S.p.A.
  • Johnson Controls
  • Panasonic Industry Co., Ltd.
  • Danfoss
  • Carrier
  • LG Electronics
  • Samsung
  • BITZER
  • Tecumseh Products Company LLC
  • GMCC
  • Siam Compressor Industry Co., Ltd.
  • Glen Refrigeration
  • Midea Group
  • RECHI PRECISION CO., LTD

Rotary Heat Pump Compressors Industry News

  • In June 2023, Danfoss came into agreement with Highly, a manufacturer of rotary compressors. The aim of this partnership is to bring rotary compressor technology to the residential heat pump industry along with selected refrigeration applications. This partnership helps with system design, reduces time to market, and broadens Danfoss' R290 portfolio for residential heat pumps. This agreement also enhanced the company’s position as a preferred partner in advancing the shift to cleaner heating methods.
     
  • In March 2023, Toshiba Air Conditioning showcased its latest products and business plans at HVACR Live in London's Excel Exhibition Centre. The company unveiled the latest edition of their primary Variable Refrigerant Flow (VRF) system, known as SHRM Advance. This upgraded system includes various technical enhancements to improve performance and boost energy efficiency. Users can now choose between two-pipe heat pump operation or three-pipe heat recovery system. In addition, it also features a new twin-rotary compressor with liquid injection to handle the higher discharge temperature associated with the R-32 refrigerant.

This rotary heat pump compressors market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2019 to 2032 for the following segments

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Market, By Product

 

  • Air source
  • Ground source
  • Water source

The above information has been provided for the following regions and countries

  • North America
    • U.S.
    • Canada 
  • Europe
    • Austria
    • Norway
    • Denmark
    • Finland
    • Frace
    • Germany
    • Italy
    • Switzerland
    • Spain
    • Sweden
    • UK
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • Australia
    • South Korea
  • Middle East & Africa
    • Saudi Arabia
    • Turkey
    • South Africa
  • Latin America
    • Brazil
    • Mexico
    • Argentina

 

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