United States Air Source Heat Pump Market By Process (Air to Air (Ducts, Ductless), Air to Water (Split, Integrated)) By End Use (Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.)), By Sales Channel (Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and Others (Distributors, Builders, etc.)), By Region, Competition, Forecast & O
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationUnited States Air Source Heat Pump Market By Process (Air to Air (Ducts, Ductless), Air to Water (Split, Integrated)) By End Use (Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.)), By Sales Channel (Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and Others (Distributors, Builders, etc.)), By Region, Competition, Forecast & O
The United States air source heat pump market is driven by rising awareness about the adverse effects of greenhouse gas, infrastructure development growth to cater to the increasing population, and various government schemes.
Heat pumps adequately replace furnaces and air conditioners for all climates. Like refrigerators, heat pumps use electricity to move heat from a perfect space to a warm room, warming the latter while making the space cooler. Heat pumps transfer heat from the cold outside to the warm interior of the building throughout the heating season. And Heat pumps transfer indoor heat to the outside during the winter season. Heat pumps effectively create warm temperatures for the home since they transfer heat rather than produce it. Air source heat pumps come in two processes air-to-air and air-to-water.
A heat pump that transfers heat directly from the outside air into a building's interior using a fan system is known as an air-to-air heat pump. In addition, air-to-water
, in 2021, more than 17.5 million heat pumps were installed across the United States. Heat pumps heat more than 40% of homes in South Carolina, North Carolina, and Alabama, compared to 17% nationally and barely 5% in the state California.
Older models of heat pumps did not function efficiently in subfreezing temperatures, which is another reason their penetration in northern regions has been delayed. However, modern heat pumps perform better in this area. Newer heat pumps were shown by a recent study in 2021 by the U.S. Energy Information Administration in Maine to be both efficient and effective at keeping homes warm throughout the state's notoriously frigid winters.
According to the U.S. Energy Information Administration, 12 new central air conditioning units are installed every minute in American houses.
Ban on Usage of Fossil Fuels is Driving the Market Growth
Ten percent of the greenhouse gas emissions in the United States are caused by using natural gas in buildings for heating and cooking, and methane, which traps heat, is also released when natural gas is transported from oil and gas fields to facilities. Cities have begun to enact legislation that encourages all-electric households or outlaws the purchase of new natural gas appliances. For instance, the state of Florida outlawed the construction of new pipelines, power plants, and compressor stations in 2021. As customers turn toward efficient and effective technologies, these measures by the state government are boosting the market for air-source heat pumps.
Along with that, various companies are also coming up with new products to support this initiative by the government. For instance, The Heat2O CO2 (R744) heat pump water heater was launched by Mitsubishi Electric Trane HVAC US in 2021 for commercial and industrial applications to focus on expanded decarbonization and ongoing efforts to replace fossil fuel heaters continued to be made in the country. These changes are fueling the market growth.
Rebates from Government on Heat Pumps are Fueling the Market Growth
For example, a customer who wants to install a heat pump for water heating will receive a reimbursement of up to USD 1,250.
USD 2,000 or USD 3,000 if they are a Low and Moderate Income (LMI) household. The overall reimbursements would also be set at USD 10,000 if someone had other home electrification plans or 50% of the project costs.
Energy Efficient Heat Pump Water Heaters Fuels Market Growth
An average heat pump water heater's lifespan adds up to almost USD 3,400. A 50-gallon heat pump water heater typically costs roughly USD 1,200, compared to USD 300 for an electric water heater.
Market Segmentation
The United States air source heat pump market is segmented into process, end use, sales channel, region, and company. Based on the process, the market is segmented into air-to-air (ducts, ductless), air to water (split, integrated). Based on end use, the market is divided into residential, hotels & resorts, gyms & spas, education, food service, and others. Based on sales channel, the market is split into plumbers, dealers & contractors, retail, direct sales, online, and others.
Market Players
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| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in Thousand Units and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Process · End Use · Sales Channel · Region |
| Regional scope | South, West, Mid-West, North-East |
| Key companies profiled | Daikin U.S. Corporation, Carrier Corporation, Rheem Manufacturing Company, Trane US, Inc., Johnson Controls, Inc., Lennox International Inc., Bosch Thermotechnology Corp., Emerson Electric Co., GE Appliances, Stiebel Eltron, Inc., etc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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