Asia Pacific Residential Heat Pump Market Size, Trends by 2028

Asia Pacific Residential Heat Pump Market Size, Share & Industry Trends Analysis Report By Power Source (Electric Powered and Gas Powered), By Type (Air Source, Geothermal, and Water Source), By Country and Growth Forecast, 2022 - 2028

Published Date: June-2022 | Number of Pages: 83 | Format: PDF | Report ID: KBV-18866

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Market Report Description

The Asia Pacific Residential Heat Pump Market would witness market growth of 9.3% CAGR during the forecast period (2022-2028).

Two-speed compressors, unlike normal compressors that can only work at full capacity, enable residential heat pump to run close to the heating or cooling capacity required at any given external temperature, conserving energy and minimizing compressor wear. Zone control systems perform effectively with two-speed residential heat pump. Automatic dampers are used in zone control systems, which are commonly found in larger homes, to permit the residential heat pump to maintain separate rooms at various temperatures.

Indoor fans (blowers), outdoor blowers, both are supplied with changeable or dual-speed motors in some heat pump models. The variable-speed settings of these fans work to maintain an appropriate airflow, eliminating cool breezes and maximizing energy savings. Additionally, it lessens the noise the blower makes when operating at maximum capacity.

The rising disposable income of consumers in this region's developing countries is one of the key reasons driving the regional air conditioning systems market forward. Furthermore, the continued development of commercial and residential construction activities in China and India, as well as increasing consumer expenditure on luxury products, will drive the regional residential heat pump market forward.

The income of the regional market is expected to expand as a result of stiff rivalry from numerous Chinese producers who sell products at lower prices than global well-known brands. Furthermore, in a number of countries in this region, increased product availability combined with increasing electrification has increased the consumption for air conditioning systems. In addition, the growing building activity in this region's developing countries will help to promote regional market growth.

The China market dominated the Asia Pacific Residential Heat Pump Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6,943.4 million by 2028. The Japan market is experiencing a CAGR of 8.7% during (2022 - 2028). Additionally, The India market is exhibiting a CAGR of 10% during (2022 - 2028).

Based on Power Source, the market is segmented into Electric Powered and Gas Powered. Based on Type, the market is segmented into Air Source, Geothermal, and Water Source. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

Free Valuable Insights: The Worldwide Residential Heat Pump Market is Projected to reach USD 53 Billion by 2028, at a CAGR of 9%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, Mitsubishi Electric Corporation, The Danfoss Group, Daikin Industries, Ltd., Carrier Global Corporation, Midea Group Co., Ltd., NIBE Industrier AB, Viessmann Group, Stiebel Eltron GmbH & Co. KG, The Glen Dimplex Group

Scope of the Study

Market Segments Covered in the Report:

By Power Source

  • Electric Powered
  • Gas Powered

By Type

  • Air Source
  • Geothermal
  • Water Source

By Country

  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific

Key Market Players

List of Companies Profiled in the Report:

  • Johnson Controls International PLC
  • Mitsubishi Electric Corporation
  • The Danfoss Group
  • Daikin Industries, Ltd.
  • Carrier Global Corporation
  • Midea Group Co., Ltd.
  • NIBE Industrier AB
  • Viessmann Group
  • Stiebel Eltron GmbH & Co. KG
  • The Glen Dimplex Group

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Related Reports:

Global Residential Heat Pump Market Report 2022-2028

North America Residential Heat Pump Market Report 2022-2028

Europe Residential Heat Pump Market Report 2022-2028

LAMEA Residential Heat Pump Market Report 2022-2028

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