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North America Air to Water Heat Pump Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: October, 2022
No of Pages: 159
Delivery Format: PDF+Excel

$2,950.00

Industry Trends

North America air to water heat pump market size exceeded USD 600 million in 2020 and its annual installation is estimated to exceed 270 thousand units by 2027. Increasing investment towards the development of green building infrastructure will thrust industry demand for renewable energy technologies including air to water heat pump systems.

The government of several nations have issued strict regulations in compliance with the growing carbon footprint and thus have introduced favorable policies and schemes for the adoption of energy efficient renewable energy products. Technological advancement and rise in consumer spending have stimulated a positive change in North America air to water heat pump market trends, which is further complemented by the growing space heating requirement in the region.

However, since early 2020, the global economy has been majorly impacted by the COVID-19 pandemic. A large number of residential construction projects and commercial offices have been temporarily shut down in compliance with the lockdown protocols. However, mass vaccination drives and further reduction in the number of cases have rejuvenated the economy across the region.

Furthermore, the pandemic has made consumers more conscious of heating system and air circulation across closed spaces including homes, leading to have positive affect on the North America air to water heat pump market size in 2020. However, despite the economic subdued for short period of time, the market growth is anticipated to recover in 2021, as revival of economy from Q3 of 2021 is anticipated with increased production activity across the region.

The study features a detailed analysis of industry trends across the North America segmented on a regional & state basis across application and country. Moreover, the market forecasts & estimates are in line with the data represented by authorities including the International Energy Agency (IEA), Energy Information Administration (EIA), ASHRAE, government regulatory bodies, and company press releases.

Smooth integration across different energy sources will stimulate the North America commercial air to water heat pump industry growth

North America air to water heat pump market share from commercial sector is expected to register a growth of around 9% over the forecast timeframe. Commercial sectors including healthcare system, education and restaurants among others have high requirement of heated water on daily basis, which complements the product deployment. In addition, one-time high installation cost along with low maintenance associated with instant heat pumps will augment the market demand of air to water heat pumps.

Increasing per capita income levels across the North American region have provided adequate improvement in the consumer spending behavior resulting in increased adoption of comfortable and efficient heating technologies. The higher operational suitability and low weight to output ratio of these products are propelling the industry dynamics across small businesses and retail outlets. Rising climate change awareness will further enhance the North America air to water heat pump market statistics in the forthcoming years.

Increasing integration of renewable energy along with expanding commercial infrastructure across U.S. will complement the market expansion

Burgeoning investment toward development of healthcare infrastructure along with rapid expansion of real estate sector have stimulated the growth of U.S. air to water heat pump market size. Increasing integration of clean energy sources coupled with accessibility to renewable energy products have proliferated the market demand of these units. These products are becoming preferred among users owing to considerable reduction in electricity bills and further cost savings with payback period. Point-of-use application and low power consumption will provide momentum to North America air to water heat pump market forecast.

R & D and business acquisition strategy acting as the focal point of market players

Major market players are focusing on developing technological advanced products with numerous features to enhance their market share in the North America air to water heat pump industry. In addition, research & development and mergers are among the key strategies followed by the leading market players to gain a competitive edge in the industry. Further, leading market participants are focusing toward forward and backward linkage integration by manufacturing air to water heat pump components to achieve economies of scale and subsequently increase their market share.

The prominent players profiled in the North Americas air to water heat pump market report includes Trane, Viessmann, Danfoss, Daikin, Carrier Corporation, NIBE Industrier AB, A. O. Smith Corporation, Johnson Controls, Inc., Systemair AB, Samsung HVAC, Llc. and Toshiba Carrier Corporation amongst others.

North America air to water heat pump market research report includes in-depth coverage of the market with estimates & forecast in terms of “Units, and ‘USD” from 2017 to 2027, for the following segments:

By Application

  • Residential
  • Commercial

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada

Chapter 1   Methodology & Scope

1.1    Methodology

1.2    Market definitions

1.3    Market estimates & forecast parameters

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    North America air to water heat pump market industry 3600 synopsis, 2017 – 2027

2.1.1    Business trends

Chapter 3   North America Air To Water Heat Pump Industry Insights

3.1    Industry segmentation

3.2    Industry ecosystem analysis

3.2.1    Vendor matrix

3.3    Innovation & sustainability

3.3.1    Daikin

3.3.2    Viessmann

3.3.3    Toshiba Corporation

3.3.4    Danfoss

3.3.5    Stiebel Eltron

3.3.6    Nortek HVAC

3.3.7    Glen Dimplex Group

3.3.8    Other innovations

3.4    Regulatory landscape

3.4.1    Canada

3.4.1.1    Amendment 16 to the Energy Efficiency Regulations

3.4.1.2    Single package central air conditioners and heat pumps

3.4.1.3    CAN/CSA-C22.2 No.236-95 (R2004) – Heating and Cooling Equipment

3.4.2    U.S.

3.4.2.1    Bipartisan Budget Act of 2018

3.4.2.2    Fannie Mae Green Initiative

3.4.2.3    Energy Improvement and Extension Act of 2008 (EIEA2008)

3.4.2.4    Air-Source Heat Pump Program

3.4.2.5    Residential Air Source Heat Pump Schedules and Product Codes

3.4.2.6    International Organization for Standardization

3.4.2.7    Federal Energy Management Program

3.5    COVID-19 impact on the overall industry outlook

3.5.1    Optimistic scenario

3.5.2    Realistic scenario

3.5.3    Pessimistic scenario

3.6    Industry impact forces

3.6.1    Growth drivers

3.6.1.1    Increasing demand for energy-efficient systems

3.6.1.2    Favorable measures to reduce carbon footprints

3.6.2    Industry pitfalls & challenges

3.6.2.1    Availability of competitive substitutes

3.6.2.2    Low co-efficient of performance (COP) levels

3.7    Growth potential analysis

3.8    Porter’s analysis

3.8.1    Supplier power

3.8.2    Buyer power

3.8.3    Threat of substitutes

3.8.4    Threat of new entrants

3.9    Competitive landscape, 2020

3.9.1    Strategy dashboard

3.9.1.1    Daikin

3.9.1.1.1    Strategic Investment

3.9.1.1.2    Product Launch

3.9.1.1.3    Acquisition

3.9.1.2    Carrier Corporation

3.9.1.2.1    Product Launch

3.9.1.2.2    Participation

3.9.1.3    Mitsubishi Electric

3.9.1.3.1    Agreement

3.9.1.4    Glen Dimplex

3.9.1.4.1    Acquisition

3.9.1.5    Danfoss

3.9.1.5.1    New Business Segment

3.9.1.5.2    Product Launch

3.9.1.5.3    Acquisition

3.9.1.5.4    Other initiatives

3.9.1.6    Viessmann

3.9.1.6.1    New Facility

3.9.1.6.2    Strategic Collaboration

3.9.1.6.3    Product Launch

3.9.1.7    NIBE Industrier AB

3.9.1.8    Panasonic Corporation

3.9.1.9    Swegon Group AB

3.10    PESTEL analysis

Chapter 4   North America Air To Water Heat Pump Market, By Application

4.1    North America air to water heat pump market share by application, 2020 & 2027

4.2    Residential

4.2.1    North America market from residential, 2017 – 2027

4.2.2    North America market from residential, by country, 2017 – 2027

4.3    Commercial

4.3.1    North America market from commercial, 2017 – 2027

4.3.2    North America market from commercial, by country, 2017 – 2027

Chapter 5   North America Air To Water Heat Pump Market, By Country

5.1    North America air to water heat pump market share by country, 2020 & 2027

5.2    U.S.

5.2.1    U.S. market, 2017 – 2027

5.2.2    U.S. market by application, 2017 – 2027

5.3    Canada

5.3.1    Canada market, 2017 – 2027

5.3.2    Canada market by application, 2017 – 2027

Chapter 6   Company Profiles

6.1    Trane

6.1.1    Business Overview

6.1.2    Financial Data

6.1.3    Product Landscape

6.1.4    Strategic Outlook

6.1.5    SWOT Analysis

6.2    Viessmann Limited

6.2.1    Business Overview

6.2.2    Financial Data

6.2.3    Product Landscape

6.2.4    Strategic Outlook

6.2.5    SWOT Analysis

6.3    Glen Dimplex Group

6.3.1    Business Overview

6.3.2    Financial Data

6.3.3    Product Landscape

6.3.4    Strategic Outlook

6.3.5    SWOT Analysis

6.4    Stiebel Eltron GmbH & Co.

6.4.1    Business Overview

6.4.2    Financial Data

6.4.3    Product Landscape

6.4.4    Strategic Outlook

6.4.5    SWOT Analysis

6.5    Danfoss

6.5.1    Business Overview

6.5.2    Financial Data

6.5.3    Product Landscape

6.5.4    Strategic Outlook

6.5.5    SWOT Analysis

6.6    Daikin

6.6.1    Business Overview

6.6.2    Financial Data

6.6.3    Product Landscape

6.6.4    Strategic Outlook

6.6.5    SWOT Analysis

6.7    Carrier Corporation

6.7.1    Business Overview

6.7.2    Financial Data

6.7.3    Product Landscape

6.7.4    Strategic Outlook

6.7.5    SWOT Analysis

6.8    NIBE Industrier AB

6.8.1    Business Overview

6.8.2    Financial Data

6.8.3    Product Landscape

6.8.4    Strategic Outlook

6.8.5    SWOT Analysis

6.9    Mitsubishi Electric Corporation

6.9.1    Business Overview

6.9.2    Financial Data

6.9.3    Product Landscape

6.9.4    Strategic Outlook

6.9.5    SWOT Analysis

6.10    Swegon Group AB

6.10.1    Business Overview

6.10.2    Financial Data

6.10.3    Product Landscape

6.10.4    Strategic Outlook

6.10.5    SWOT Analysis

6.11    Panasonic Corporation

6.11.1    Business Overview

6.11.2    Financial Data

6.11.3    Product Landscape

6.11.4    Strategic Outlook

6.11.5    SWOT Analysis

6.12    A. O. Smith

6.12.1    Business Overview

6.12.2    Financial Data

6.12.3    Product Landscape

6.12.4    Strategic Outlook

6.12.5    SWOT Analysis

6.13    Johnson Controls

6.13.1    Business Overview

6.13.2    Financial Data

6.13.3    Product Landscape

6.13.4    Strategic Outlook

6.13.5    SWOT Analysis

6.14    Toshiba Corporation

6.14.1    Business Overview

6.14.2    Financial Data

6.14.3    Product Landscape

6.14.4    Strategic Outlook

6.14.5    SWOT Analysis

6.15    FUJITSU GENERAL

6.15.1    Business Overview

6.15.2    Financial Data

6.15.3    Product Landscape

6.15.4    Strategic Outlook

6.15.5    SWOT Analysis

6.16    Systemair AB

6.16.1    Business Overview

6.16.2    Financial Data

6.16.3    Product Landscape

6.16.4    Strategic Outlook

6.16.5    SWOT Analysis

6.17    Samsung HVAC, LLC.

6.17.1    Business Overview

6.17.2    Financial Data

6.17.3    Product Landscape

6.17.4    SWOT Analysis

6.18    Toshiba Carrier Corporation

6.18.1    Business Overview

6.18.2    Financial Data

6.18.3    Product Landscape

6.18.4    Strategic Outlook

6.18.5    SWOT Analysis

Data Tables

TABLE 1    North America market, 2017 – 2020, (Volume & Revenue)

TABLE 2    North America market, 2021 – 2027, (Volume & Revenue)

TABLE 3    Industry impact forces

TABLE 4    North America market from residential, 2017 – 2020 (Volume & Revenue)

TABLE 5    North America market from residential, 2021 – 2027 (Volume & Revenue)

TABLE 6    North America market from residential, by country, 2017 – 2020 (Units)

TABLE 7    North America market from residential, by country, 2021 – 2027 (Units)

TABLE 8    North America market from residential, by country, 2017 – 2020 (USD Million)

TABLE 9    North America market from residential, by country, 2021 – 2027 (USD Million)

TABLE 10    North America market from commercial, 2017 – 2020 (Volume & Revenue)

TABLE 11    North America market from commercial, 2021 – 2027 (Volume & Revenue)

TABLE 12    North America market from commercial, by country, 2017 – 2020 (Units)

TABLE 13    North America market from commercial, by country, 2021 – 2027 (Units)

TABLE 14    North America market from commercial, by country, 2017 – 2020 (USD Million)

TABLE 15    North America market from commercial, by country, 2021 – 2027 (USD Million)

TABLE 16    U.S. market, 2017 – 2020, (Volume & Revenue)

TABLE 17    U.S. market, 2021 – 2027, (Volume & Revenue)

TABLE 18    U.S. market by application, 2017 – 2020, (Units)

TABLE 19    U.S. market by application, 2021 – 2027, (Units)

TABLE 20    U.S. market by application, 2017 – 2020, (USD Million)

TABLE 21    U.S. market by application, 2021 – 2027, (USD Million)

TABLE 22    Canada market, 2017 – 2020, (Volume & Revenue)

TABLE 23    Canada market, 2021 – 2027, (Volume & Revenue)

TABLE 24    Canada market by application, 2017 – 2020, (Units)

TABLE 25    Canada market by application, 2021 – 2027, (Units)

TABLE 26    Canada market by application, 2017 – 2020, (USD Million)

TABLE 27    Canada market by application, 2021 – 2027, (USD Million)
Charts & Figures

FIG. 1    North America air to water heat pump industry 3600 synopsis, 2017 – 2027

FIG. 2    Industry segmentation

FIG. 3    Industry ecosystem analysis

FIG. 4    Impact of COVID-19 on overall industry outlook, 2021 – 2027 (USD Million)

FIG. 5    U.S. Dollar Green Bond Issuance (USD Billion)

FIG. 6    U.S. carbon dioxide emission by economic sector, 2019

FIG. 7    Growth potential analysis

FIG. 8    Porter’s analysis

FIG. 9    PESTEL analysis

FIG. 10    North America air to water heat pump market revenue share by application, 2020 & 2027

FIG. 11    North America air to water heat pump market revenue share by country, 2020 & 2027

FIG. 12    SWOT Analysis, Trane

FIG. 13    SWOT Analysis, Viessmann Limited

FIG. 14    SWOT Analysis, Glen Dimplex Group

FIG. 15    SWOT Analysis, Stiebel Eltron GmbH & Co.

FIG. 16    SWOT Analysis, Danfoss

FIG. 17    SWOT Analysis, Daikin

FIG. 18    SWOT Analysis, Carrier Corporation

FIG. 19    SWOT Analysis, NIBE Industrier AB

FIG. 20    SWOT Analysis, Mitsubishi Electric Corporation

FIG. 21    SWOT Analysis, Swegon Group AB

FIG. 22    SWOT Analysis, Panasonic Corporation

FIG. 23    SWOT Analysis, A. O. Smith

FIG. 24    SWOT Analysis, Johnson Controls

FIG. 25    SWOT Analysis, Toshiba Corporation

FIG. 26    SWOT Analysis, Fujitsu General

FIG. 27    SWOT Analysis, Systemair AB

FIG. 28    SWOT Analysis, Samsung HVAC

FIG. 29    SWOT Analysis, Toshiba Carrier Corporation

By Application

  • Residential
  • Commercial

Trane, Viessmann, Danfoss, Daikin, Carrier Corporation, NIBE Industrier AB, A. O. Smith Corporation, Johnson Controls, Inc., Systemair AB, Samsung HVAC, Llc. and Toshiba Carrier Corporation amongst others.

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