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

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.

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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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The air source heat pumps segment is s set to observe gains at nearly 13% up to 2032, on account of their wide adoption across both residential and commercial applications for heating & cooling purposes. These systems offer enhanced efficiency, typically in mild to moderate climates, owing to their capability to deliver both heating and cooling functionalities within a single system, they emerged as highly versatile and cost-effective option. Ease of installation along with the ability of these units to serve variety of applications has led to accelerated product demand. These systems are adopted across residential and commercial establishments owing to their relatively simple installation process, the cost-effectiveness and versatile operations.

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.

The water source heat pumps market is slated to observe a substantial growth owing to rising awareness about the environmental impact of HVAC systems on energy consumption and GHG emissions. Integration of these units with building automation systems has become important for both building owners and managers as it boosts energy efficiency and improves HVAC system control. Various manufacturers are investing in research and technology advancements, such as variable speed compressors, inverter technology, and smart controls, to enhance system performance and expand business opportunities. The growing popularity of these systems in commercial establishments, driven by increased energy efficiency, easy maintenance, and lower operating costs, will further complement the industry landscape. 

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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