Ductless Heat Pump Market - By Application (Residential {Single Family, Multi Family}, Commercial), By System (Single Zone, Multi Zone), & Forecast, 2024 – 2032

Ductless Heat Pump Market - By Application (Residential {Single Family, Multi Family}, Commercial), By System (Single Zone, Multi Zone), & Forecast, 2024 – 2032

Ductless Heat Pump Market Size

Ductless Heat Pump Market size surpassed USD 9.1 billion in 2023 and is anticipated to register 9.7% CAGR from 2024 to 2032 due to growing emphasis on renewable technologies for residential and commercial heating & cooling requirements.

To get key market trends

  Download Free Sample

Surging demand for energy-efficient systems is propelling the business growth. The growing volatility of electricity costs is driving homeowners to upgrade their HVAC systems from a forced-air system to a ductless approach. Additionally, a paradigm shift toward clean energy solutions and the growing emphasis on renewable technologies for residential and commercial heating & cooling requirements will spur the demand for ductless heat pump. Favorable administrative policies and stringent norms pertaining to the reduction of carbon footprint and deployment of cleaner alternatives will offer lucrative prospects for the proliferation of ductless heat pumps.
 

What are the growth opportunities in this market?

 Download Free Sample

Availability of alternative products may hamper industry progression

The presence of alternatives such as advanced duct heat pumps and conventional heating and cooling technologies powered by fossil fuels may impede the demand for ductless heat pumps. However, the initial setup costs of ductless mini-split heat pumps are relatively higher, restricting adoption across low and middle-income economies. Moreover, ductless pumps are a novel technology and there are very few companies facilitating the installation of modern mini-split heating systems since the majority prefer standard HVAC systems.

Ductless Heat Pump Market Analysis

Learn more about the key segments shaping this market

 Download Free Sample

Ductless heat pump market from the residential segment is slated to foresee 9% growth during 2023 to 2032.  The rising deployment of industry across residential buildings can be attributed to the strict government regulations encouraging the espousal of cleaner and more energy-efficient HVAC systems. Various factors such as soaring energy demand, the growing need for heating & cooling technologies due to weather extremities, and the burgeoning concerns associated with carbon emissions are fostering a lucrative demand for compact & efficient mini-split heat pumps.  Furthermore, the need for these pumps is also projected to increase notably in multi-family settings on account of the growing need for heating & cooling systems.

Learn more about the key segments shaping this market

 Download Free Sample

Multi-zone systems segment dominated 75% market share in 2022. The introduction of modern infrastructure reforms is encouraging the necessity of high insulation & air-sealed equipment for space heating and cooling, thus fostering demand such pumps. These systems allow for customization and control of individual heating and cooling requirements in each room, preventing energy loss, and maximizing comfort & efficiency. Moreover, multi-zone units require a single outdoor compressor to power multiple indoor units, allowing residential users to eliminate clutter.

Looking for region specific data?

 Download Free Sample

The APAC ductless heat pump market is estimated to amass USD 5 billion by 2032. The region is set to emerge as a key hotspot for clean energy systems driven by rapid urbanization and constantly escalating population in countries such as India, and China. The province is home to a massive HVAC sector catering to the growing population with high disposable income. The market size of Europe Heat Pump is poised to surpass USD 29.1 Billion by 2030.

According to the World Population Report 2022 by the United Nations (UN), India is set to become the most populous country by 2023 with the population estimated to grow to 1.5 billion by 2030, and 1.66 billion by 2050. Hence, the presence of a robust urban population presents significant scope for the regional business progression.

Ductless Heat Pump Market Share

Major players in ductless heat pump market scenario are

• DAIKIN INDUSTRIES Ltd
• Trane
• Carrier
• FUJITSU GENERAL LIMITED
• SAMSUNG
• Johnson Controls
• Lennox International Inc
• Gree Electric Appliances Inc
• Panasonic Corporation
• Rheem Manufacturing Company
• Klimaire Products Inc
• Bosch Thermotechnology Corp
• Blue Star Limited
• Bryant Heating & Cooling
• MRCOOL
• Argoclima S.p.A.

These participants are implementing strategies such as the expansion of production capacity and business to scale up the customer reach. For instance, in October 2022, Daikin announced plans to expand its manufacturing facility in Güglingen, Germany with the aim of boosting heat pump production.

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

Click here to Buy Section of this Report

Market, By Application

• Residential
  • Single Family
  • Multi Family
• Commercial

Market, By System

• Single Zone
• Multi Zone

The above information has been provided for the following region & countries

• North America
  • U.S.
  • Canada
• Europe
  • Austria
  • Norway
  • Denmark
  • Finland
  • France
  • 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