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Heat Pump Market in the US - Demand and Sales Forecasts, Market Share, Market Size, Market Leaders

  • Study #: 3498
  • Published: 03/2017
  • Pages: 105
  • Full Study Price: US$ 4,900

Heat Pump Market in the US - Industry Market Research, Market Share, Market Size, Sales, Demand Forecast, Market Leaders, Company Profiles, Industry Trends

US demand for heat pumps is expected to grow 2.4% yearly through 2021 to $2.5 billion. Air source heat pumps are projected to record more rapid increases in demand than geothermal heat pumps. Commercial building construction will continue to account for the majority of heat pump demand, though residential applications will register faster gains. The South region will remain dominant in heat pump sales in the US. However, the West region will post the fastest sales increases.

This Freedonia industry study offers historical demand data plus forecasts for 2021 by product (air source, including air-to-air and air-to water; and geothermal, including closed loop and open loop), market (residential and commercial, and new building and existing building), US region (South, West, Midwest, Northeast), and energy source (electricity and natural gas). The study also evaluates company market share and competitive analysis on industry participants including AAON, Daikin Industries, Electrolux, GD Midea, Ingersoll-Rand, Johnson Controls, Lennox, Melrose Industries, NIBE Industrier, Paloma, and United Technologies.

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Table of Contents

EXECUTIVE SUMMARY

OVERVIEW

Key Findings

Factors Influencing Heat Pump Demand

Climate Zones

Energy Profile

Energy Efficiency & Variable Refrigerant Flow

Impact of Tax Credits on HVAC Equipment Demand

Refrigerant Regulations

Pricing Trends

Market Volatility

Foreign Trade

Imports

Exports

PRODUCTS

Key Findings

Heat Pump Historical Trends

Heat Pump Forecasts

Demand by Product

Air Source

Energy Source

Conventional Electricity

Solar & Wind Electricity

Natural Gas

Product Type

Air-to-Air

Air-to-Water

Geothermal

Closed Loop

Open Loop

MARKETS

Key Findings

Heat Pump Demand by Market

Commercial

Demand by Building Type

Residential

New Buildings

Existing Buildings

Demand by Building Type

REGIONS

Key Findings

Climatic Factors Influencing Heat Pump Installation

Heat Pump Demand by Region

South

West

Midwest

Northeast

INDUSTRY STRUCTURE

Key Findings

Industry Composition

Market Share

Competitive Strategies

Product Development & Manufacturing

Marketing

Distribution

Cooperative Agreements

Mergers, Acquisitions, & Industry Restructuring

List of Industry Participants

APPENDIX

Scope

Methodology

Sources

Associations & Agencies

Related Freedonia Group Studies

Definitions

Abbreviations

Climate Zones

Macroeconomic Assumptions

Demographic Trends

Consumer Spending

Building Construction 100

Residential

New Housing

Housing Stock

Improvements & Repairs

Nonresidential


List of Tables

OVERVIEW

Table 2-1 | Average Retail Energy Costs in the US by Source, 2006-2021 ($/mil Btu)

Table 2-2 | Heat Pump Pricing Trends, 2006-2021 (dollars/unit)

Table 2-3 | Foreign Trade in Heat Pumps, 2006-2021 (million dollars)

Table 2-4 | Heat Pump Imports by Source, 2006-2016 (million dollars)

Table 2-5 | Heat Pump Exports by Destination, 2006-2016 (million dollars)

PRODUCTS

Table 3-1 | Heat Pump Supply & Demand, 2006-2021 (million dollars)

Table 3-2 | Heat Pump Demand by Product, 2006-2021

Table 3-3 | Air Source Heat Pump Demand, 2006-2021 (million dollars)

Table 3-4 | Air Source Heat Pump Demand by Energy Source, 2006-2021 (million dollars)

Table 3-5 | Air-to-Air Heat Pump Demand, 2006-2021 (million dollars)

Table 3-6 | Air-to-Water Heat Pump Demand, 2006-2021 (million dollars)

Table 3-7 | Geothermal Heat Pump Demand, 2006-2021 (million dollars)

MARKETS

Table 4-1 | Heat Pump Demand by Market, 2006-2021 (million dollars)

Table 4-2 | Commercial Heat Pump Demand, 2006-2021 (million dollars)

Table 4-3 | Commercial Heat Pump Demand by Building Type, 2006-2021 (million dollars)

Table 4-4 | Residential Heat Pump Demand, 2006-2021 (million dollars)

Table 4-5 | Residential Heat Pump Demand by Building Type, 2006-2021 (million dollars)

REGIONS

Table 5-1 | Heat Pump Demand by Region, 2006-2021 (million dollars)

Table 5-2 | South Heat Pump Demand, 2006-2021 (million dollars)

Table 5-3 | West Heat Pump Demand, 2006-2021 (million dollars)

Table 5-4 | Midwest Heat Pump Demand, 2006-2021 (million dollars)

Table 5-5 | Northeast Heat Pump Demand, 2006-2021 (million dollars)

INDUSTRY STRUCTURE

Table 6-1 | Heat Pump Sales by Company, 2016 (million dollars)

Table 6-2 | Other Heat Pump Suppliers by Product Type

Table 6-3 | R&D Spending for Selected Heat Pump Companies, 2016 (million dollars)

Table 6-4 | Selected Cooperative Agreements

Table 6-5 | Selected Acquisitions & Divestitures

APPENDIX

Table 7-1 | Study Scope: Heat Pump Markets

Table 7-2 | Study Scope: US Regions

Table 7-3 | Relevant NAICS Codes (2012)

Table 7-4 | Abbreviations & Acronyms Used in Study

Table 7-5 | Macroeconomic Indicators, 2006-2021 (billion 2009 dollars)

Table 7-6 | Population & Households, 2006-2021 (million persons)

Table 7-7 | Personal Consumption Expenditures, 2006-2021 (billion dollars)

Table 7-8 | Building Construction Expenditures, 2006-2021 (billion dollars)

Table 7-9 | Residential Building Construction, 2006-2021 (billion dollars)

Table 7-10 | New Housing Indicators, 2006-2021 (thousand units)

Table 7-11 | Housing Stock by Type, 2006-2021 (million units)

Table 7-12 | Residential Improvement & Repair Expenditures, 2006-2021 (billion dollars)

Table 7-13 | Nonresidential Building Construction Expenditures, 2006-2021 (billion dollars)


List of Charts

EXECUTIVE SUMMARY

Figure 1-1 | Key Trends in the US Heat Pump Market

OVERVIEW

Figure 2-1 | Key Trends in the Heat Pump Market

Figure 2-2 | Heat Pump Pricing Trends, 2006-2021 (annual percent change)

Figure 2-3 | Heat Pump Demand, 2006-2016 (million dollars)

Figure 2-4 | US Foreign Trade in Heat Pumps, 2006-2016 (million dollars)

Figure 2-5 | Heat Pump Imports by Source, 2006-2016 (million dollars)

Figure 2-6 | US Heat Pump Exports by Destination, 2006-2016 (million dollars)

PRODUCTS

Figure 3-1 | Key Trends in Heat Pump Products

Figure 3-2 | Heat Pump Demand, 2006-2016 (million dollars)

Figure 3-3 | Heat Pump Demand by Value & Volume, 2016 (percent of total)

Figure 3-4 | Air Source Heat Pump Demand in Value Terms by Energy Source, 2006-2021

Figure 3-5 | Air-to-Air Heat Pump Demand by Type, 2016 (billion dollars)

MARKETS

Figure 4-1 | Key Trends in Heat Pump Markets

Figure 4-2 | Heat Pump Demand by Market, 2006-2021 (percent of value demand)

Figure 4-3 | Commercial Heat Pump Demand, 2006-2016 (million dollars)

Figure 4-4 | Commercial Heat Pump Demand by Building Type, 2016 (billion dollars)

Figure 4-5 | New Residential Building Heat Pump Demand by Value, 2006-2016

Figure 4-6 | Heat Pump Demand in Existing Buildings by Value, 2006-2016

Figure 4-7 | Residential Heat Pump Demand by Building Type, 2016 (million dollars)

REGIONS

Figure 5-1 | Key Trends in Heat Pump Regions

Figure 5-2 | Percent of New Single & Multifamily Residential Buildings with Heat Pumps Installed by Region, 2006 & 2016

Figure 5-3 | Heat Pump Demand by Region, 2016 (billion dollars)

INDUSTRY STRUCTURE

Figure 6-1 | US Heat Pump Market Share, 2016 (billion dollars)

Figure 6-2 | Heat Pumps: Overall Leading Supplier

Figure 6-3 | Heat Pumps: Second Leading Supplier

Figure 6-4 | Heat Pumps: Third Leading Supplier

Figure 6-5 | Heat Pumps: Fourth Leading Supplier

APPENDIX

Figure 7-1 | Continental US Climate Zones

Figure 7-2 | Annual Growth in Real GDP, 2000-2016, compared to 1980-2005 average (percent)

Figure 7-3 | Annual Population Growth, 2001-2016 (percent)

Figure 7-4 | Housing Stock by Year of Construction, 2016 (percent)


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