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Report World - Heat Pumps (Other Than Air Conditioning Machines) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

World - Heat Pumps (Other Than Air Conditioning Machines) - Market Analysis, Forecast, Size, Trends and Insights

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Global Heat Pump Market 2024

Heat Pump Market Size

In 2021, the global heat pump market increased by 4.3% to $X, rising for the fourth consecutive year after five years of decline. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the maximum level in 2021 and is likely to see gradual growth in the near future.

Heat Pump Production

In value terms, heat pump production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13%. Global production peaked at $X in 2020, and then contracted in the following year.

Heat Pump Exports

Exports

In 2021, overseas shipments of heat pumps (other than air conditioning machines) increased by 60% to X units, rising for the fifth consecutive year after three years of decline. Overall, exports enjoyed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, heat pump exports surged to $X in 2021. In general, exports enjoyed a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the largest exporting country with an export of around X units, which accounted for 37% of total exports. France (X units) took the second position in the ranking, followed by Germany (X units), Sweden (X units), the Czech Republic (X units), Italy (X units) and Belgium (X units). All these countries together held approx. 42% share of total exports. Japan (X units), Slovakia (X units), Poland (X units), Spain (X units) and Austria (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to heat pump exports from China stood at +24.6%. At the same time, the Czech Republic (+44.6%), Poland (+42.4%), Belgium (+38.5%), Slovakia (+16.8%), Germany (+8.7%), Sweden (+8.6%), Japan (+7.5%), Spain (+7.2%), Austria (+5.3%), Italy (+2.5%) and France (+2.5%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +44.6% from 2012-2021. From 2012 to 2021, the share of China, the Czech Republic, Belgium and Poland increased by +25, +4.9, +4 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest heat pump supplying countries worldwide were China ($X), France ($X) and Germany ($X), with a combined 48% share of global exports. These countries were followed by Sweden, the Czech Republic, Italy, Japan, Belgium, Austria, Slovakia, Poland and Spain, which together accounted for a further 40%.

In terms of the main exporting countries, the Czech Republic, with a CAGR of +44.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average heat pump export price stood at $X per unit in 2021, which is down by -2.6% against the previous year. In general, the export price showed a perceptible contraction. The growth pace was the most rapid in 2017 when the average export price increased by 0.6%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+4.1%), while the other global leaders experienced more modest paces of growth.

Heat Pump Imports

Imports

In 2021, overseas purchases of heat pumps (other than air conditioning machines) increased by 52% to X units, rising for the fourth consecutive year after three years of decline. In general, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, heat pump imports skyrocketed to $X in 2021. Over the period under review, imports showed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X units) and Germany (X units) represented roughly 31% of total imports in 2021. It was distantly followed by Italy (X units), Switzerland (X units), Belgium (X units) and Canada (X units), together mixing up a 22% share of total imports. The following importers - the Netherlands (X units), Poland (X units), Australia (X units), Spain (X units), the UK (X units), Austria (X units) and the Czech Republic (X units) - together made up 24% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +27.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Italy ($X) were the countries with the highest levels of imports in 2021, with a combined 38% share of global imports. Switzerland, the Netherlands, Poland, Belgium, the UK, Austria, Spain, the Czech Republic, Australia and Canada lagged somewhat behind, together accounting for a further 37%.

The Netherlands, with a CAGR of +25.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average heat pump import price amounted to $X per unit, rising by 5.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 14%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($X per unit), while Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.4%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of heat pump consumption in 2020 were China, the United States and India, together comprising 46% of global consumption. These countries were followed by Japan, Indonesia, Mexico, Canada, Germany, Democratic Republic of the Congo, South Korea, France, Thailand and Italy, which together accounted for a further 30%.
The country with the largest volume of heat pump production was China, comprising approx. 30% of total volume. Moreover, heat pump production in China exceeded the figures recorded by the second-largest producer, India, threefold. The United States ranked third in terms of total production with a 9.6% share.
In value terms, France, Germany and China were the countries with the highest levels of exports in 2020, together accounting for 48% of global exports. Sweden, Italy, Japan, the Czech Republic, Austria, Slovakia, Mexico, Spain and Belgium lagged somewhat behind, together accounting for a further 40%.
In value terms, Germany, France and Switzerland were the countries with the highest levels of imports in 2020, with a combined 32% share of global imports. The Netherlands, Poland, Italy, the UK, Austria, the United States, Belgium, Spain, Australia and Canada lagged somewhat behind, together accounting for a further 36%.
The average heat pump export price stood at $1,276 per unit in 2020, waning by -5.9% against the previous year.
The average heat pump import price stood at $1,343 per unit in 2020, waning by -1.9% against the previous year.

This report provides an in-depth analysis of the global heat pump market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 28251380 - Heat pumps other than air conditioning machines of HS

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Samsung, LG, Hitachi, Bosch, Viessmann, Daikin, Vaillant, Nibe, Grant, Calorex, Mitsubishi, Carrier Corporation, Johnson Controls, Danfoss Power Solutions Co., Ingersoll-Rand Company, OCHSNER, LENNOX, TRANE, RHEEM, American Standard

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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