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
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Residential Heat Pump Market, by Power Source
1.4.2 Asia Pacific Residential Heat Pump Market, by Type
1.4.3 Asia Pacific Residential Heat Pump Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2018, Mar – 2022, May) Leading Players
Chapter 4. Asia Pacific Residential Heat Pump Market by Power Source
4.1 Asia Pacific Electric Powered Market by Country
4.2 Asia Pacific Gas Powered Market by Country
Chapter 5. Asia Pacific Residential Heat Pump Market by Type
5.1 Asia Pacific Air Source Market by Country
5.2 Asia Pacific Geothermal Market by Country
5.3 Asia Pacific Water Source Market by Country
Chapter 6. Asia Pacific Residential Heat Pump Market by Country
6.1 China Residential Heat Pump Market
6.1.1 China Residential Heat Pump Market by Power Source
6.1.2 China Residential Heat Pump Market by Type
6.2 Japan Residential Heat Pump Market
6.2.1 Japan Residential Heat Pump Market by Power Source
6.2.2 Japan Residential Heat Pump Market by Type
6.3 India Residential Heat Pump Market
6.3.1 India Residential Heat Pump Market by Power Source
6.3.2 India Residential Heat Pump Market by Type
6.4 South Korea Residential Heat Pump Market
6.4.1 South Korea Residential Heat Pump Market by Power Source
6.4.2 South Korea Residential Heat Pump Market by Type
6.5 Singapore Residential Heat Pump Market
6.5.1 Singapore Residential Heat Pump Market by Power Source
6.5.2 Singapore Residential Heat Pump Market by Type
6.6 Malaysia Residential Heat Pump Market
6.6.1 Malaysia Residential Heat Pump Market by Power Source
6.6.2 Malaysia Residential Heat Pump Market by Type
6.7 Rest of Asia Pacific Residential Heat Pump Market
6.7.1 Rest of Asia Pacific Residential Heat Pump Market by Power Source
6.7.2 Rest of Asia Pacific Residential Heat Pump Market by Type
Chapter 7. Company Profiles
7.1 Johnson Controls International PLC
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.1.5.2 Acquisition and Mergers:
7.2 Mitsubishi Electric Corporation
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Product Launches and Product Expansions:
7.2.5.2 Geographical Expansions:
7.3 The Danfoss Group
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.4 Daikin Industries, Ltd.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional & Segmental Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Product Launches and Product Expansions:
7.5 Carrier Global Corporation
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Product Launches and Product Expansions:
7.6 Midea Group Co., Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segment and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 Recent strategies and developments:
7.6.5.1 Partnerships, Collaborations, and Agreements:
7.6.5.2 Product Launches and Product Expansions:
7.7 NIBE Industrier AB
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 Recent strategies and developments:
7.7.5.1 Product Launches and Product Expansions:
7.7.5.2 Acquisition and Mergers:
7.8 Viessmann Group
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Product Launches and Product Expansions:
7.9 Stiebel Eltron GmbH & Co. KG
7.9.1 Company Overview
7.10. The Glen Dimplex Group
7.10.1 Company Overview
TABLE 1 Asia Pacific Residential Heat Pump Market, 2018 - 2021, USD Million
TABLE 2 Asia Pacific Residential Heat Pump Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Residential Heat Pump Market
TABLE 4 Product Launches And Product Expansions– Residential Heat Pump Market
TABLE 5 Acquisition and Mergers– Residential Heat Pump Market
TABLE 6 Geogrpahical Expansions- Residential heat pump market
TABLE 7 Asia Pacific Residential Heat Pump Market by Power Source, 2018 - 2021, USD Million
TABLE 8 Asia Pacific Residential Heat Pump Market by Power Source, 2022 - 2028, USD Million
TABLE 9 Asia Pacific Electric Powered Market by Country, 2018 - 2021, USD Million
TABLE 10 Asia Pacific Electric Powered Market by Country, 2022 - 2028, USD Million
TABLE 11 Asia Pacific Gas Powered Market by Country, 2018 - 2021, USD Million
TABLE 12 Asia Pacific Gas Powered Market by Country, 2022 - 2028, USD Million
TABLE 13 Asia Pacific Residential Heat Pump Market by Type, 2018 - 2021, USD Million
TABLE 14 Asia Pacific Residential Heat Pump Market by Type, 2022 - 2028, USD Million
TABLE 15 Asia Pacific Air Source Market by Country, 2018 - 2021, USD Million
TABLE 16 Asia Pacific Air Source Market by Country, 2022 - 2028, USD Million
TABLE 17 Asia Pacific Geothermal Market by Country, 2018 - 2021, USD Million
TABLE 18 Asia Pacific Geothermal Market by Country, 2022 - 2028, USD Million
TABLE 19 Asia Pacific Water Source Market by Country, 2018 - 2021, USD Million
TABLE 20 Asia Pacific Water Source Market by Country, 2022 - 2028, USD Million
TABLE 21 Asia Pacific Residential Heat Pump Market by Country, 2018 - 2021, USD Million
TABLE 22 Asia Pacific Residential Heat Pump Market by Country, 2022 - 2028, USD Million
TABLE 23 China Residential Heat Pump Market, 2018 - 2021, USD Million
TABLE 24 China Residential Heat Pump Market, 2022 - 2028, USD Million
TABLE 25 China Residential Heat Pump Market by Power Source, 2018 - 2021, USD Million
TABLE 26 China Residential Heat Pump Market by Power Source, 2022 - 2028, USD Million
TABLE 27 China Residential Heat Pump Market by Type, 2018 - 2021, USD Million
TABLE 28 China Residential Heat Pump Market by Type, 2022 - 2028, USD Million
TABLE 29 Japan Residential Heat Pump Market, 2018 - 2021, USD Million
TABLE 30 Japan Residential Heat Pump Market, 2022 - 2028, USD Million
TABLE 31 Japan Residential Heat Pump Market by Power Source, 2018 - 2021, USD Million
TABLE 32 Japan Residential Heat Pump Market by Power Source, 2022 - 2028, USD Million
TABLE 33 Japan Residential Heat Pump Market by Type, 2018 - 2021, USD Million
TABLE 34 Japan Residential Heat Pump Market by Type, 2022 - 2028, USD Million
TABLE 35 India Residential Heat Pump Market, 2018 - 2021, USD Million
TABLE 36 India Residential Heat Pump Market, 2022 - 2028, USD Million
TABLE 37 India Residential Heat Pump Market by Power Source, 2018 - 2021, USD Million
TABLE 38 India Residential Heat Pump Market by Power Source, 2022 - 2028, USD Million
TABLE 39 India Residential Heat Pump Market by Type, 2018 - 2021, USD Million
TABLE 40 India Residential Heat Pump Market by Type, 2022 - 2028, USD Million
TABLE 41 South Korea Residential Heat Pump Market, 2018 - 2021, USD Million
TABLE 42 South Korea Residential Heat Pump Market, 2022 - 2028, USD Million
TABLE 43 South Korea Residential Heat Pump Market by Power Source, 2018 - 2021, USD Million
TABLE 44 South Korea Residential Heat Pump Market by Power Source, 2022 - 2028, USD Million
TABLE 45 South Korea Residential Heat Pump Market by Type, 2018 - 2021, USD Million
TABLE 46 South Korea Residential Heat Pump Market by Type, 2022 - 2028, USD Million
TABLE 47 Singapore Residential Heat Pump Market, 2018 - 2021, USD Million
TABLE 48 Singapore Residential Heat Pump Market, 2022 - 2028, USD Million
TABLE 49 Singapore Residential Heat Pump Market by Power Source, 2018 - 2021, USD Million
TABLE 50 Singapore Residential Heat Pump Market by Power Source, 2022 - 2028, USD Million
TABLE 51 Singapore Residential Heat Pump Market by Type, 2018 - 2021, USD Million
TABLE 52 Singapore Residential Heat Pump Market by Type, 2022 - 2028, USD Million
TABLE 53 Malaysia Residential Heat Pump Market, 2018 - 2021, USD Million
TABLE 54 Malaysia Residential Heat Pump Market, 2022 - 2028, USD Million
TABLE 55 Malaysia Residential Heat Pump Market by Power Source, 2018 - 2021, USD Million
TABLE 56 Malaysia Residential Heat Pump Market by Power Source, 2022 - 2028, USD Million
TABLE 57 Malaysia Residential Heat Pump Market by Type, 2018 - 2021, USD Million
TABLE 58 Malaysia Residential Heat Pump Market by Type, 2022 - 2028, USD Million
TABLE 59 Rest of Asia Pacific Residential Heat Pump Market, 2018 - 2021, USD Million
TABLE 60 Rest of Asia Pacific Residential Heat Pump Market, 2022 - 2028, USD Million
TABLE 61 Rest of Asia Pacific Residential Heat Pump Market by Power Source, 2018 - 2021, USD Million
TABLE 62 Rest of Asia Pacific Residential Heat Pump Market by Power Source, 2022 - 2028, USD Million
TABLE 63 Rest of Asia Pacific Residential Heat Pump Market by Type, 2018 - 2021, USD Million
TABLE 64 Rest of Asia Pacific Residential Heat Pump Market by Type, 2022 - 2028, USD Million
TABLE 65 Key Information – JOHNSON CONTROLS INTERNATIONAL PLC
TABLE 66 key information – Mitsubishi Electric Corporation
TABLE 67 Key Information – The Danfoss Group
TABLE 68 Key information – Daikin Industries, Ltd.
TABLE 69 Key Information – Carrier Global Corporation
TABLE 70 key information – Midea Group Co., Ltd.
TABLE 71 key information – NIBE Industrier AB
TABLE 72 Key Information – Viessmann Group
TABLE 73 Key Information – Stiebel Eltron GmbH & Co. KG
TABLE 74 Key information – The Glen Dimplex Group
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2018, Mar – 2022, May) Leading Players
FIG 5 Recent strategies and developments: Johnson Controls International PLC
FIG 6 Recent strategies and developments: Mitsubishi Electric Corporation
FIG 7 Recent strategies and developments: Midea Group Co., Ltd.
FIG 8 Recent strategies and developments: NIBE Industrier AB