What is the current United States Heat Pump Market size?

The United States Heat Pump Market is projected to register a CAGR of 9.40% during the forecast period (2024-2029) Read More

Who are the key players in United States Heat Pump Market?

Lennox International Inc., Nortek Air Management, Carrier Corporation, Rheem Manufacturing Company and Johnson Controls International PLC are the major companies operating in the United States Heat Pump Market. Read More

What years does this United States Heat Pump Market cover?

The report covers the United States Heat Pump Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Heat Pump Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key factors driving the U.S. Heat Pump Market?

The key factors driving the U.S. Heat Pump Market are a) Heat pumps offer efficient heating and cooling, potentially leading to lower energy bills compared to traditional HVAC systems b) Increasing energy costs for traditional heating and cooling systems can make heat pumps a more attractive alternative Read More

US Heat Pump Market Analysis | Industry Trends, Size & Report Insights

US Heat Pump Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers US Heat Pump Market Trends and it is segmented by Type (air-source, water-source, ground-source), by End-User (Industrial, Commercial and Institutional), by efficiency (low efficiency (HSPF: 8.0-8.99), high efficiency (HSPF: 9 and above)).

US Heat Pump Industry Overview

The competitive rivalry in the heat pump market is moderately high owing to the presence of some major players such as Lennox, Daikin, Carrier amongst others. Their ability to continually innovate their offerings has enabled them to gain a competitive advantage over other players in the market. Through research & development activities, mergers & acquisitions these players have been able to expand their market footprint.

August 2021 - Gradient announced to devlop home window heat pump that will be designed toprovide heating and coolin throught the year by making use of climate-friendly refrigerant that can possibly propane (R290) and help reduce greenhouse gas emissions by 75% compared to conventional systems.
October 2021 - Mitsubishi Electric Trane HVAC US launched CO2 (R744) heat pump water heater, the Heat2O, for commercial and industrial applications as emphasis on decarbonization increased in the country and continious efforts to replace fossil fuel heaters prevails in the country.