New Zealand Air Source Heat Pump Market By Process (Air to Air (Ducts Vs. Ductless), Air to Water (Split Vs. 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, By Company, Forecast

The New Zealand air source heat pump market size is anticipated to register an impressive CAGR during the forecast period. Heat pumps have evolved into the most energy-efficient electric heating/cooling systems found at in New Zealand.

Heat pumps heat home by absorbing heat from the outside and transferring it inside. When it's hot outdoors, it reverses direction and functions as an air conditioner, eliminating heat from home. Heat pumps are an effective technique to heat a room in the winter. They typically take 10-20 minutes to bring a room to the ideal temperature and easily maintain it.

Due to the high demand of air source heat pump in the country, heat pump manufacturers are prompted to offer new products

Download Free Sample ReportIncreasing Energy Efficiency of Air Source Heat Pump Will Fuel The Market Growth

Increasing Humidity in New Zealand Will Boost the Market Growth

Heating, insulation, and ventilation are the three most important components which help in maintaining good indoor air quality. Unflued gas heaters emit carbon dioxide and fill the air with hazardous amounts of moisture. Without sufficient ventilation, this can be hazardous to customers’ health. Rainfall in New Zealand is rather significant, contributing to the country's high humidity, which is concentrated primarily in North Island. For instance, the average annual humidity in Auckland is 82%. Air source heat pumps can dehumidify in cooling or "dry" modes, allowing them to combat excess moisture such as condensation and humidity. Thus, this acts as a driving factor for air source heat pump market.

New Housing Projects By Government Will Fuel Market Growth

The growing preference for new homes in New Zealand, along with a growth in the number of construction projects, is boosting demand for air source heat pumps across the country. In 2022 the government-initiated Mangere, which is a major housing project for Auckland, with the goal of replacing approximately 2,700 state housing units with up to 10,000 new healthy houses. Over the next 10-15 years, approximately 3,000 new state houses, as well as 3,500 affordable and 3,500 market homes, will be developed. These new homes and building projects are regarded as key market drivers since they promote the product throughout the country. The increasing demand for air source heat pumps from builders is anticipated to further fuel the market growth during the forecast period.

Market Segmentation

New Zealand air source heat pump market is segmented based on process, end use, sales channel, region, and competitive landscape. Based on process, the market is further fragmented into air to air (ducts vs. ductless) and air to water (split vs. integrated). Based on end use the market is segmented into residential, hotels & resorts, gym & spas, education, food service, and others (healthcare, offices, etc.). Based on sales channels, the market is segmented into plumbers, dealers & contractors, retail, direct sales, online, and others (distributors, builders, etc.). The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North Island and South Island.

Market Players

Rheem New Zealand Ltd