Global heat pump demand is projected to rise 5.9% per year to $36.2 billion in 2022. Heat pumps will outperform other HVAC equipment types due to their energy efficiency and ability to provide both heating and cooling without need for additional equipment. This and other trends are presented in Global HVAC Equipment, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The Asia/Pacific region will account for the vast majority of global heat pump demand. Countries such as China are promoting the installation of heat pumps as an energy-efficient, eco-friendly alternative to traditional HVAC equipment, while buildings in the region often feature the necessary infrastructure for heat pumps.
Heat pumps will increase their share of global HVAC equipment demand to 27% in 2022. The energy-efficient properties of heat pumps also make them an appealing alternative to unitary air conditioning systems in Western Europe and in the southern states of the US.
Global HVAC Equipment (published 08/2018, 378 pages) is available for $6500 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
Related studies include:
#3643 Global Commercial Refrigeration Equipment, 10th Edition (April 2018)
#3643 Commercial Refrigeration Equipment in the US, 14th Edition (April 2018)