Australia 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 & Oppor
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 CustomizationThe Australia air source heat pump market is anticipated to register an impressive CAGR during the forecast period. In Australia, heat pumps are commonly used in applications for space heating/cooling and hot water systems because Australia's climate varies significantly throughout the country. They can be utilized in residential and commercial sectors for space heating. Heat pump hot water systems are used for bathing and sanitation, thus driving the market's growth.
Air Source Heat pumps? Think of them like magic boxes that grab warmth from the air around you and use it to heat water. They run on electricity, but here's the cool partthey have a clever system that uses a refrigerant gas to boost the water's temperature, so you don't need as much electricity. The hot water is then stored, ready for you to use! You'll find two main types of Air Source Heat pumps (ASPH)air-to-water and air-to-air. With air-to-water pumps, they snatch heat from the outside air and transfer it to water. This warm water can then heat your rooms through radiators or underfloor heating, plus provide hot water for your showers. Air-to-air heat pumps, on the other hand, circulate warm air around your home to heat it, but they can also cool it down using energy they've collected from the air – pretty neat, huh? You can even learn more here.
So, in 2022, Australia really embraced heat pumps! The Clean Energy Regulator, that's the Aussie government's clean energy watchdog, says about 423,075 air source heat pumps were installed. Cool, right? Plus, all those energy conservation programs at the state and federal level? They're loaded with incentives and rebates for renovations. For instance, with the VEU (Victorian Energies Upgrade), you might snag a heat pump instead of an electric hot water system for nothing! And the REPS (Retailer Energy Productivity Scheme) could get you a new one for just AUD 39. If you have a concession card or meet other qualifications, you could even get a free upgrade. On top of that, various federal programs offer supply and installation of new heat pumps at a seriously low price – we're talking up to 70% less energy consumption! Basically, these government rebates are getting everyone excited about air-source heat pumps, which is totally going to boost the market.
Download Free Sample ReportPreference for Energy Efficient Technologies Fuels the Market Growth
Think of heat pumps as super-efficient heating and cooling systems that run entirely on electricity. They're way better than old-school fossil fuel setups! The big deal? They skip fossil fuels like gas, oil, coal, or propane. These clever devices use very little electricity to move heat around, and while making that electricity does release some CO2, it's a lot less than burning fuel directly like other heaters do. Imagine pulling heat straight from the air to warm your water – that's energy saved, money in your pocket, and less bad stuff going into the atmosphere! Heat pump water heaters are especially amazing, using only about 30% of the energy compared to regular electric ones. That's why places like Australia are seeing a big jump in the popularity of air-source heat pumps. They're just so much more energy-efficient than what we're used to.
Consistent Heating Feature Drives the Market Growth
Traditional water heaters, well, they're not always the best at giving you that nice, consistent hot water experience. You know how after a few gallons, the water starts getting colder, no matter how big the tank is? That can be super annoying, leaving you with a chilly surprise mid-shower! But a heat pump water heater? That's designed to give you a continuous flow of hot water, so you don't have to worry about running out at the worst possible moment. Think about itwith proper heat pump installation, you can enjoy warm water for as long as you need it, for everything from showers to laundry. For example, Racold's domestic heat pump guarantees a constant supply of hot water thanks to its high-efficiency compressor, which speeds up heat exchange for more hot water, faster. Because of this never-ending hot water perk compared to those old-fashioned heaters, more and more people are choosing heat pumps, and that's expected to fuel the demand for air source heat pumps, especially in the Australia market.
Low Maintenance Cost and High Durability Drives the Market Growth
Air source heat pumps? They're built to last! Thanks to durable designs and smart tech, you can expect them to stick around for quite a while. Sure, an air source heat pump water heater might cost more upfront than your old-fashioned kind, but hear me outthey actually save you money in the long run. Why? Because they're tough cookies! Conventional water heaters often need replacing way sooner. Plus, air source heat pumps are low-maintenance, which is a huge win. Nobody wants a high-maintenance water heater adding to their stress and bills. These are pretty simple to run, meaning less fuss than other systems. Ecovantage, an environmental consultant down in Australia, even says air source heat pumps have such a great lifespan that you could save a bunch of cash over their 15 years. And get thisupgrade to one, and you could cut your water heating costs by up to 70% and save hundreds on your energy bills every year. All these awesome features? That's why the air source heat pump market is booming in Australia.
Market Segmentation
The Australia air source heat pump market is segmented into the process, end use, and sales channel, regional distribution and competitive landscape. Based on process, the market is segmented into Air to Air (Ducts, Ductless), Air to Water (Split, Integrated). Based on end use, the market is segmented into Residential, Hotels & Resorts, Gyms & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.). Based on sales channel, the market is segmented into Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and Others (Distributors, Builders, etc.).
Market Players
Stiebel Eltron (Aust) Pty Ltd, Daikin Australia Pty Ltd, Rheem Australia Pty Ltd, Aquamax Australia Pty. Limited, Robert Bosch (Australia) Pty Ltd, Evo Industries Australia Pty Ltd., Smart Lifestyle Australia Pty Ltd, Rinnai Australia Pty Ltd, Solargain Pty Ltd (iStore),
| 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 | Australia Capital Territory & New South Wales, Victoria & Tasmania, Northern Territory & Southern Australia, , Queensland, Western Australia |
| Key companies profiled | Stiebel Eltron (Aust) Pty Ltd, Daikin Australia Pty Ltd, Rheem Australia Pty Ltd, Aquamax Australia Pty. Limited, Robert Bosch (Australia) Pty Ltd, Evo Industries Australia Pty Ltd., Smart Lifestyle Australia Pty Ltd, Rinnai Australia Pty Ltd, Solargain Pty Ltd (iStore), Mitsubishi Electric Australia Pty Ltd.etc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to 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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