commercial heat pump water heater market

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Introduction
The commercial heat pump water heater market was
valued at 299.4 million in 2022, and is
estimated to reach 608.5 million by 2032,
growing at a CAGR of 7.4 from 2023 to 2032. heat
pump water heater uses energy-efficient
technology to heat water for various commercial
applications. It operates on the same principles
as a heat pump used for space heating cooling
but is specifically configured to heat water.
   In addition, rise in need for sustainable
technologies from the commercial sector will
bolster the product requirement. The majority of
governments around the globe are implementing
various policies and schemes to promote the
distribution of clean technologies in the
commercial sectors, and improving the technology
perception. Furthermore, the 500L-1000L segment
is anticipated to register a CAGR of 5.0 over
the commercial heat pump water heater forecast
period owing to rapid urbanization and rise in
demand for commercial space.
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Increase in construction activities during the
forecast period is expected to contribute to the
Europe commercial heat pump water heater market
growth. Moreover, stringent emission norms
regulations will compel constructors to install
energy-efficient and renewable technologies,
which is anticipated to stimulate the commercial
heat pump water heater market demand.    Air
source heat pump water heater is expected to
dominate commercial heat pump water heater market
during forecast period owing to the need for
energy-efficient and environmentally friendly
water heating solutions in various industries. In
addition, owing to rise in hospitality,
restaurants, healthcare, agriculture, retail and
commercial buildings, recreation and sports
facilities further drives the demand for air
source heat pump water heater.
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• Key Findings Of The Study  
• On the basis of type, the air source segment
  accounts for more than four-fifths of the market
  share, in terms of revenue, in 2022.  
• On the basis of storage, the 500-1,000 L segment
  accounts for more than half of the market share,
  in terms of revenue, in 2022.  
• On the basis of capacity, the above 10 kW segment
  accounts for more than three-fourths of the
  market share, in terms of revenue, in 2022.  
• On the basis of refrigerant, the R410A
  segments accounts for more than two-fifths of the
  market share, in terms of revenue, in 2022. 
• Region-wise, Asia-Pacific accounts for nearly
  two-fifths of the market share, in terms of
  revenue, in 2022.  

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Key Market Players

• Viessmann Group
• Midea Group Co. Ltd.
• Daikin Industries Ltd.
• Valliant Group
• Rheem Manufacturing Company Inc.
• NIBE Energy Systems
• Ingersoll Rand
• Bosch Industries

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