10.12.2022 00:55

Heat pump water heater market: Growth opportunities led by A. O. Smith Corp, Ariston Holding NV, Bradford White Corp - Technavio

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NEW YORK, Dec. 9, 2022 /PRNewswire/ -- The heat pump water heater market size is forecasted to increase by USD 7,218.42 million from 2022 to 2027, at a CAGR of 24.07%, according to the recent market study by Technavio. The advantages of heat pump water heaters and new product launches will drive the market's growth.

Technavio has announced its latest market research report titled Global Heat Pump Water Heater Market 2023-2027

Technavio categorizes the global heat pump water heater market as a part of the electrical components and equipment market, which covers products and companies engaged in the manufacturing of electric cables and wires, electrical components, and electrical equipment.

Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download the Sample Report.

Technavio has extensively analyzed 15 major vendors, including A. O. Smith Corp., Ariston Holding NV, Bradford White Corp., Carrier Global Corp., Daikin Industries Ltd., Fujitsu General Ltd., Glen Dimplex Group, Guangdong PHNIX Eco Energy Solution Ltd., Haier Smart Home Co. Ltd., LG Corp., MIDEA Group Co. Ltd., Mitsubishi Heavy Industries Ltd., NIBE Industrier AB, Nyle Systems LLC, Panasonic Holdings Corp., Rheem Manufacturing Co., Rinnai Corp., STIEBEL ELTRON GmbH and Co. KG, V Guard Industries Ltd., and Vaillant Group.

Key Benefits for Industry Players & Stakeholders –

  • The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
  • It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
  • The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Expand operations in the future - To get requisite details, ask for a custom report.

Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

  • One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
  • Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
  • Furthermore, market adoption rates for all regions have been covered.

Download the sample to get a holistic overview of the heat pump water heater market by industry experts to evaluate and develop growth strategies.

The market is segmented by application (residential and commercial), type (air source heat pump and geothermal heat pump), and geography (Europe, North America, APAC, Middle East and Africa, and South America).

Segmentation by application (Residential/Commercial)

  • Residential: Heat pump water heaters are quite popular in residential buildings due to their various advantages, including their high efficiency and sustainable alternative to conventional heating systems. Since heat pump water heaters are becoming more and more important in residential structures, changes in residential building construction directly affect demand for them. The market for heat pump water heaters is being driven by the growing requirement for goods that are energy-efficient and specifically developed for use in applications for producing hot water in homes and flats. Due to positive government initiatives and tax breaks granted for the installation of energy-saving devices, the market for heat pump water heaters is anticipated to rise in the residential sector.

To get detailed insights about inclusions and exclusions, buy a report.

Related Reports -

Geothermal Heat Pump Market by End-user and Geography - Forecast and Analysis 2022-2026– size is estimated to increase by USD 4.89 billion from 2022 to 2027, with an accelerated CAGR of 8.36%, according to the recent market study by Technavio. Furthermore, this report extensively covers geothermal heat pump market segmentation by end-user (residential and non-residential) and geography (Europe, North America, APAC, South America, and Middle East and Africa). 

Submersible Pump Market by Application and Geography - Forecast and Analysis 2022-2026– size is estimated to increase by USD 5.05 billion from 2022 to 2027, with an accelerated CAGR of 3.63%, according to the recent market study by Technavio. Furthermore, this report extensively covers the submersible pump market segmentation by application (bore well and open well) and geography (APAC, Europe, North America, the Middle East and Africa, and South America)

What are the key data covered in the heat pump water heater market?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the heat pump water heater market between 2023 and 2027
  • Precise estimation of the size of the heat pump water heater market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the heat pump water heater market across APAC, North America, Europe, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of heat pump water heater market vendors

Heat Pump Water Heater Market Scope

Report Coverage

Details

Page number

166

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 24.07%

Market growth 2023-2027

USD 7218.42 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

20.5

Regional analysis

Europe, North America, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 54%

Key countries

US, China, France, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

A. O. Smith Corp., Ariston Holding NV, Bradford White Corp., Carrier Global Corp., Daikin Industries Ltd., Fujitsu General Ltd., Glen Dimplex Group, Guangdong PHNIX Eco energy Solution Ltd., Haier Smart Home Co. Ltd., LG Corp., MIDEA Group Co. Ltd., Mitsubishi Heavy Industries Ltd., NIBE Industrier AB, Nyle Systems LLC, Panasonic Holdings Corp., Rheem Manufacturing Co., Rinnai Corp., STIEBEL ELTRON GmbH and Co. KG, V Guard Industries Ltd., and Vaillant Group

Market dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio "Industrials" Research Reports

Table of Contents

1 Executive Summary

  • 1.1 Market Overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
    • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global heat pump water heater market 2017 - 2021
    • Exhibit 18: Historic Market Size – Data Table on Global heat pump water heater market 2017 - 2021 ($ million)
  • 4.2 Applicaton Segment Analysis 2017 - 2021
    • Exhibit 19: Historic Market Size – Applicaton Segment 2017 - 2021 ($ million)
  • 4.3 Type Segment Analysis 2017 - 2021 
    • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
  • 4.4 Geography Segment Analysis 2017 - 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
  • 4.5 Country Segment Analysis 2017 - 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

  • 5.1 Five forces summary 
    • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry 
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition 
    • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

  • 6.1 Market segments 
    • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
  • 6.2 Comparison by Application 
    • Exhibit 32: Chart on Comparison by Application
    • Exhibit 33: Data Table on Comparison by Application
  • 6.3 Residential - Market size and forecast 2022-2027
    • Exhibit 34: Chart on Residential - Market size and forecast 2022-2027 ($ million)
    • Exhibit 35: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
    • Exhibit 36: Chart on Residential - Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Residential - Year-over-year growth 2022-2027 (%)
  • 6.4 Commercial - Market size and forecast 2022-2027
    • Exhibit 38: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
    • Exhibit 39: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
    • Exhibit 40: Chart on Commercial - Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Commercial - Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Application 
    • Exhibit 42: Market opportunity by Application ($ million)

7 Market Segmentation by Type

  • 7.1 Market segments 
    • Exhibit 43: Chart on Type - Market share 2022-2027 (%)
    • Exhibit 44: Data Table on Type - Market share 2022-2027 (%)
  • 7.2 Comparison by Type 
    • Exhibit 45: Chart on Comparison by Type
    • Exhibit 46: Data Table on Comparison by Type
  • 7.3 Air source heat pump - Market size and forecast 2022-2027
    • Exhibit 47: Chart on Air source heat pump - Market size and forecast 2022-2027 ($ million)
    • Exhibit 48: Data Table on Air source heat pump - Market size and forecast 2022-2027 ($ million)
    • Exhibit 49: Chart on Air source heat pump - Year-over-year growth 2022-2027 (%)
    • Exhibit 50: Data Table on Air source heat pump - Year-over-year growth 2022-2027 (%)
  • 7.4 Geothermal heat pump - Market size and forecast 2022-2027
    • Exhibit 51: Chart on Geothermal heat pump - Market size and forecast 2022-2027 ($ million)
    • Exhibit 52: Data Table on Geothermal heat pump - Market size and forecast 2022-2027 ($ million)
    • Exhibit 53: Chart on Geothermal heat pump - Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Geothermal heat pump - Year-over-year growth 2022-2027 (%)
  • 7.5 Market opportunity by Type 
    • Exhibit 55: Market opportunity by Type ($ million)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 59: Chart on Geographic comparison
    • Exhibit 60: Data Table on Geographic comparison
  • 9.3 Europe - Market size and forecast 2022-2027
    • Exhibit 61: Chart on Europe - Market size and forecast 2022-2027 ($ million)
    • Exhibit 62: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
    • Exhibit 63: Chart on Europe - Year-over-year growth 2022-2027 (%)
    • Exhibit 64: Data Table on Europe - Year-over-year growth 2022-2027 (%)
  • 9.4 North America - Market size and forecast 2022-2027
    • Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
    • Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
  • 9.5 APAC - Market size and forecast 2022-2027
    • Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
    • Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
    • Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
    • Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)
  • 9.6 Middle East and Africa - Market size and forecast 2022-2027 
    • Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
    • Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
    • Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
  • 9.7 South America - Market size and forecast 2022-2027
    • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
  • 9.8 US - Market size and forecast 2022-2027
    • Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
    • Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
    • Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)
  • 9.9 France - Market size and forecast 2022-2027
    • Exhibit 85: Chart on France - Market size and forecast 2022-2027 ($ million)
    • Exhibit 86: Data Table on France - Market size and forecast 2022-2027 ($ million)
    • Exhibit 87: Chart on France - Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on France - Year-over-year growth 2022-2027 (%)
  • 9.10 Germany - Market size and forecast 2022-2027
    • Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
    • Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
    • Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
  • 9.11 China - Market size and forecast 2022-2027
    • Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
    • Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
    • Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)
  • 9.12 UK - Market size and forecast 2022-2027
    • Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
    • Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
    • Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 102: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape 
    • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption 
    • Exhibit 104: Overview on factors of disruption
  • 11.4 Industry risks 
    • Exhibit 105: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered 
    • Exhibit 106: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 107: Matrix on vendor position and classification
  • 12.3 A. O. Smith Corp. 
    • Exhibit 108: A. O. Smith Corp. - Overview
    • Exhibit 109: A. O. Smith Corp. - Business segments
    • Exhibit 110: A. O. Smith Corp. - Key offerings
    • Exhibit 111: A. O. Smith Corp. - Segment focus
  • 12.4 Bradford White Corp. 
    • Exhibit 112: Bradford White Corp. - Overview
    • Exhibit 113: Bradford White Corp. - Product / Service
    • Exhibit 114: Bradford White Corp. - Key offerings
  • 12.5 Daikin Industries Ltd. 
    • Exhibit 115: Daikin Industries Ltd. - Overview
    • Exhibit 116: Daikin Industries Ltd. - Business segments
    • Exhibit 117: Daikin Industries Ltd. - Key news
    • Exhibit 118: Daikin Industries Ltd. - Key offerings
    • Exhibit 119: Daikin Industries Ltd. - Segment focus
  • 12.6 Fujitsu General Ltd. 
    • Exhibit 120: Fujitsu General Ltd. - Overview
    • Exhibit 121: Fujitsu General Ltd. - Business segments
    • Exhibit 122: Fujitsu General Ltd. - Key offerings
    • Exhibit 123: Fujitsu General Ltd. - Segment focus
  • 12.7 Glen Dimplex Group 
    • Exhibit 124: Glen Dimplex Group - Overview
    • Exhibit 125: Glen Dimplex Group - Product / Service
    • Exhibit 126: Glen Dimplex Group - Key offerings
  • 12.8 Guangdong PHNIX Eco energy Solution Ltd.
    • Exhibit 127: Guangdong PHNIX Eco energy Solution Ltd. - Overview
    • Exhibit 128: Guangdong PHNIX Eco energy Solution Ltd. - Product / Service
    • Exhibit 129: Guangdong PHNIX Eco energy Solution Ltd. - Key offerings
  • 12.9 Haier Smart Home Co. Ltd. 
    • Exhibit 130: Haier Smart Home Co. Ltd. - Overview
    • Exhibit 131: Haier Smart Home Co. Ltd. - Business segments
    • Exhibit 132: Haier Smart Home Co. Ltd. - Key offerings
    • Exhibit 133: Haier Smart Home Co. Ltd. - Segment focus
  • 12.10 LG Corp. 
    • Exhibit 134: LG Corp. - Overview
    • Exhibit 135: LG Corp. - Business segments
    • Exhibit 136: LG Corp. - Key offerings
    • Exhibit 137: LG Corp. - Segment focus
  • 12.11 MIDEA Group Co. Ltd. 
    • Exhibit 138: MIDEA Group Co. Ltd. - Overview
    • Exhibit 139: MIDEA Group Co. Ltd. - Business segments
    • Exhibit 140: MIDEA Group Co. Ltd. - Key offerings
    • Exhibit 141: MIDEA Group Co. Ltd. - Segment focus
  • 12.12 Mitsubishi Heavy Industries Ltd. 
    • Exhibit 142: Mitsubishi Heavy Industries Ltd. - Overview
    • Exhibit 143: Mitsubishi Heavy Industries Ltd. - Business segments
    • Exhibit 144: Mitsubishi Heavy Industries Ltd. - Key news
    • Exhibit 145: Mitsubishi Heavy Industries Ltd. - Key offerings
    • Exhibit 146: Mitsubishi Heavy Industries Ltd. - Segment focus
  • 12.13 NIBE Industrier AB 
    • Exhibit 147: NIBE Industrier AB - Overview
    • Exhibit 148: NIBE Industrier AB - Business segments
    • Exhibit 149: NIBE Industrier AB - Key offerings
    • Exhibit 150: NIBE Industrier AB - Segment focus
  • 12.14 Panasonic Holdings Corp. 
    • Exhibit 151: Panasonic Holdings Corp. - Overview
    • Exhibit 152: Panasonic Holdings Corp. - Business segments
    • Exhibit 153: Panasonic Holdings Corp. - Key news
    • Exhibit 154: Panasonic Holdings Corp. - Key offerings
    • Exhibit 155: Panasonic Holdings Corp. - Segment focus
  • 12.15 Rheem Manufacturing Co. 
    • Exhibit 156: Rheem Manufacturing Co. - Overview
    • Exhibit 157: Rheem Manufacturing Co. - Product / Service
    • Exhibit 158: Rheem Manufacturing Co. - Key offerings
  • 12.16 Rinnai Corp. 
    • Exhibit 159: Rinnai Corp. - Overview
    • Exhibit 160: Rinnai Corp. - Business segments
    • Exhibit 161: Rinnai Corp. - Key offerings
    • Exhibit 162: Rinnai Corp. - Segment focus
  • 12.17 STIEBEL ELTRON GmbH and Co. KG 
    • Exhibit 163: STIEBEL ELTRON GmbH and Co. KG - Overview
    • Exhibit 164: STIEBEL ELTRON GmbH and Co. KG - Product / Service
    • Exhibit 165: STIEBEL ELTRON GmbH and Co. KG - Key offerings

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 166: Inclusions checklist
    • Exhibit 167: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 168: Currency conversion rates for US$
  • 13.4 Research methodology 
    • Exhibit 169: Research methodology
    • Exhibit 170: Validation techniques employed for market sizing
    • Exhibit 171: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 172: List of abbreviations 
About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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Email: media@technavio.com
Website: www.technavio.com/

Global Heat Pump Water Heater Market 2023-2027

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