Heat Pump Water Heater Market

Heat Pump Water Heater Market by type (Air Source, Geothermal), Storage (Up to 500 L, 500–1000 L, Above 1000 L), Capacity (Up to 10 kW, above 10 kW), Refrigerant (R410A, R407C, R744), End-User (Residential, Commercial, Industrial), Region - Global Forecast to 2026

Report Code: EP 7740 Sep, 2020, by marketsandmarkets.com

[261 Pages Report] The global heat pump water heater market size is projected to reach USD 2.1 billion by 2026 from an estimated value of USD 1.4 billion in 2020, at a CAGR of 6.8%. Factors driving the growth of the heat pump water heater market include the energy efficient technology along with the usage of non conventional sources of energy to heat the water. In addition, supportive regulations and grants for using renewable sources of energy in different applications are also expected to play a key role in the growth of this market during the forecast period.

Heat Pump Water Heater Market

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Heat Pump Water Heater Market Dynamics

Driver: Reduction in CO2 Emission

The production and consumption of energy lead to the emission of carbon dioxide (CO2), which is released in substantial amounts through the burning of fossil fuels, such as coal, oil, and natural gas. Many countries are aiming to reduce their primary energy demand due to the increasing CO2 emissions and implement policies to restrict the emission of greenhouse gases. Heat pump water heater is one of the most promising technologies for reducing greenhouse gas emissions. A heat pump water heater offers an energy-efficient way to provide heating through aerothermal and geothermal technologies. Exhaust air, groundwater, and surface water (lake, river, or pond) are the other examples of commonly used heat sources. Heat pump water heaters take the ambient heat from air, water, and ground at low temperatures and increase the water temperature level through energy input, mostly from electricity. To heat the water, air source or water source heat pump uses 66 to 80% of the heat from renewable heat sources in the environment and 20 to 33% electrical energy for the heat pump compressor. Hence, carbon emissions associated with energy consumption and generation can be reduced significantly by using heat pump water heater systems instead of fossil fuel-based systems. This is driving the increase in the number of installation of heat pump water heaters in residential, commercial, and industrial segments.

Restraint: Lack of awareness regarding benefits of heat pump water heaters in developing and underdeveloped countries

The awareness regarding energy efficiency, cost efficiency, and environmental benefits of heat pump water heaters is low among all end user segments. This is because they are typically perceived to be expensive, which acts as a restraint for market penetration in developing as well as underdeveloped economies. There is also a lack of awareness regarding the opportunities that heat pump water heaters provide for energy conservation and reduction of CO2 emissions.

According to a report published by the United Nations Environment Programme, there is a lack of awareness among the contractors regarding the International Organization for Standardization (ISO) standards for heat pumps. Thus, the lack of awareness of heat pump technology across the entire supply chain (technicians, consultants, engineers, contractors, and end users) is a barrier to the adoption of heat pump water heaters in developing and underdeveloped countries.

Opportunity: Integration of Iot with heat pump water heaters

Internet of Things (IoT)-enabled heat pump water heater systems are expected to offer real-time monitoring, predictive maintenance, and remote diagnostics for heat pump water heaters. IoT-enabled heat pump water heater systems consist of smart thermostats that help in monitoring environmental changes and communicating with the heat pump water heater equipment. Technologically advanced software enable heat pump water heater systems to leverage data for continuous improvements in efficiency and energy-savings. For instance, building management systems (BMS) involve the installation of sensors, software, a network, and a cloud-based data store. Their functions include the management of boilers, chillers, pumps, air handling units, rooftop units, heat pumps, VAV boxes, radiators, fan coil units, exhaust fans, and security & safety operations. Such systems help facility managers to easily manage heat pump water heater systems, thus saving time and cost. Integration with IoT helps in tracking the abnormalities in heat pump water heaters, subsequently reducing system failure. Thus, the integration of IoT with heat pump water heaters is providing significant opportunities for the growth of the market.

Challenge: High installation cost

Heat pump water heater systems are used to increase the energy-efficiency, reduce energy costs, and lower the carbon emissions in residential, commercial, and industrial sectors. Heat pump water heaters are of two types: aerothermal heat pumps (air source heat pumps) and geothermal heat pumps (ground source heat pumps). Air source heat pump water heaters are more common, as they are less expensive and efficient enough to service most homes and small commercial buildings. Geothermal heat pump water heaters are typically costlier to install because of underground installation. High-density polyethylene pipes are required to be put in the ground, which takes a team of specialists at least three days to install the pipes and the entire system, although they are more efficient and can service bigger buildings.

The installation cost of heat pump water heater equipment for residential, commercial, and industrial applications depends on various factors. For instance, in the residential application, the installation cost of all heat pump systems depends on the size of homes, additional ductwork, type of equipment, and British Thermal Unit (BTU) value of the equipment. The cost of installation of a heat pump water heater also depends on the complexity, type, brand, and size of the heat pump. Thus, the high installation cost is a challenge that can hamper the growth of the heat pump market.

By type, the air source segment is the largest contributor in the heat pump water heaters market during the forecast period.

The air source segment is estimated to be the largest- segment of the heat pump water heate market, by type, from 2020 to 2026. The demand for air source heat pump is growing majorly in the residential sector owing to its low installation cost and environmental friendly technology. They are mainly used in Asia Pacific owing to the fact that countries such as China, Australia, Thailand, and New Zealand are focusing on limiting their carbon footprint resulting from the use of fossil fuels.

By storage tank capacity, the up to 500 LT segment is expected to grow at the fastest rate during the forecast period.

Heat pump water heaters falling under this category are compact and hence, are easy to install. They provide ample hot water for almost all small commercial applications and residential sector. Hence, water heaters with this capacity are suitable for less hot water requirement applications in small commercial establishments and residential sector that includes homes and multi family buildings. Small individual heat pump water heaters of up to 500 liters capacity are used in the hospitality sector for holiday homes and motels as they ensure interruption-free availability of hot water for bathing, personal laundry, etc. applications.

By rated capacity, the 10–20 kW segment is expected to be the largest contributor during the forecast period.

The 10–20kW segment is estimated to dominate the market from 2020 to 2026. In the residential sector, the requirement of instant hot water has been rising at a significant rate. This led to the deployment of low-powered heat pump water heater to cater to this instant hot water requirements majorly for residential sector. Heat pump water heater with 10–20 kW rated capacity are easy to use, offer high operational efficiency.

By refrigerant type, R410A segment is expected to be the largest market during the forecast period.

The R410A is expected to be the largest market from 2020 to 2026. R410A is a low-pressure gas that is stored in copper coils. When incorporated with copper, it absorbs the heat that passes through various copper components. R410A is a gas which is used as a refrigerant in HVAC for heating and cooling applications. It used in heat pump water heater as it does not contribute to ozone depletion and is non toxic in nature.

By end user, residential sector is expected to be the largest market during the forecast period.

The residential segment of the heat pump water heater market, by end user, is expected to contribute the largest share in the heat pump water heater market during the forecast period. The adoption of heat pump water heaters is increasing in the residential sector, majorly due to its energy-efficiency technology and various government initiatives in the form of subsidy or tax benefit offered in order to enhance the demand for heat pump water heater.

Asia Pacific is expected to account for the fastest growing market size during the forecast period.

Asia Pacific is expected to dominate the heat pump water heater market during the forecast period as owing to the increase in the use of renewable energy and energy efficient products. Several leading players in the heat pump water heater market such as A.O. Smith Corporation, Midea Group, RHEEM Manufacturing, and Mitsubishi Electric have their manufacturing facilities in countries such as China, India, and Thailand. The region is home to a number of emerging economies such as China, India, New Zealand, and Malaysia. These countries are taking various initiatives to enhance the installation of het pump water heater in order to increase the energy efficiency and reduce environmental pollution. The figure below shows the projected market sizes of various regions with respective CAGRs for 2026.

Heat Pump Water Heater Market by Region

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Key Market Players

The key players in the heat pump water heater market include Midea Group (China), RHEEM Manufacturing Company (US), Daikin (Japan), A.O. Smith Corporation (US), Bosch Industries (Germany), and Ingersoll Rand (US), etc. and other players such as Viessmann Group (Germany), NIBE Energy Systems (Sweden), Valliant Group (Germany), Daikin (Japan), Mitsubishi Electric (Japan), Glen Dimplex (Ireland), Stiebel Eltron (Germany), and more

Scope of the Report

Report Metric

Details

Market Size available for years

2016–2026

Base year considered

2019

Forecast period

2020–2026

Forecast units

Value (USD)

Segments covered

Type, Storage Tank Capacity, Rated Capacity, End User and Region.

Geographies covered

Asia Pacific, South America, North America, Europe.

Companies covered

Midea Group (China), RHEEM Manufacturing Company (US), Daikin (Japan), A.O. Smith Corporation (US), Bosch Industries (Germany), and Ingersoll Rand (US), etc. (25 total)

This research report categorizes the heat pump water heater market based on Type, Storage Tank Capacity, Rated Capacity, end user, and Region.

Based on the Type :

  • Air source
  • Geothermal

Based on the Rated Capacity:

  • Up to 10 kW
  • 10‒20 kW
  • 20‒30 kW
  • 30‒100 kW
  • 10–150 kW
  • Above 150 kW

Based on the Storage Tank Capacity:

  • Up to 500 LT
  • 500‒1,000 LT
  • Above 1,000 LT

Based on the region:

  • Asia Pacific
  • Europe
  • North America
  • South America

Recent Developments

  • In July 2020, Daikin launched Daikin SmartSource, a dedicated outdoor air system (DOAS) for heat pumps that enables efficient and cost effective cooling and heating in all conditions using 100% fresh outside air. It also taps a water source heat pump's hot gas reheat coil in addition to the unit's primary DX coil; to enhances the efficiency of the heat pump
  • In August 2020, Panasonic Corporation partnered with Systemair on technology to launch heating and cooling products for offering its customers with more options related to HVAC products, including heat pumps. Both companies will have their separate sales channels and branding for these products.
  • RHEEM Manufacturing Company acquired Intergas, which was into the manufacturing of high-efficiency residential gas boilers and water heaters. The acquisition will help the company to obtain a first-class platform in the European heating and hot water market and an increase in the market share.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 34)
    1.1 OBJECTIVES OF THE STUDY
    1.2 DEFINITION
           1.2.1 HEAT PUMP WATER HEATER MARKET, BY TYPE: INCLUSIONS & EXCLUSIONS
                 TABLE 1 HEAT PUMP WATER HEATER MARKET, BY TYPE: INCLUSIONS & EXCLUSIONS
           1.2.2 HEAT PUMP WATER HEATER MARKET, BY END USER: INCLUSIONS & EXCLUSIONS
                 TABLE 2 HEAT PUMP WATER HEATER MARKET, BY END USER: INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 39)
    2.1 RESEARCH DATA
        FIGURE 1 HEAT PUMP WATER HATER MARKET: DATA TRIANGULATION AND RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
           2.1.3 BREAK-UP OF PRIMARIES
    2.2 SCOPE
        FIGURE 2 MAIN METRICS CONSIDERED WHILE ASSESSING GLOBAL DEMAND FOR HEAT PUMP WATER HEATERS
    2.3 MARKET SIZE ESTIMATION
           2.3.1 APPROACH 1: DEMAND-SIDE ANALYSIS THROUGH BOTTOM-UP APPROACH
                 FIGURE 3 YEAR-ON-YEAR ADDITION OF TYPES OF HEAT PUMP WATER HEATERS ACROSS COUNTRIES IS THE KEY DETERMINING FACTOR FOR MARKET SIZE ESTIMATION
           2.3.2 KEY ASSUMPTIONS
           2.3.3 CALCULATIONS
           2.3.4 FORECAST
           2.3.5 APPROACH 2: SUPPLY-SIDE ANALYSIS
                 FIGURE 4 REVENUE OF KEY MANUFACTURERS OF HEAT PUMP WATER HEATERS ACROSS DIFFERENT REGIONS IS THE KEY DETERMINING FACTOR FOR MARKET SIZE ESTIMATION
           2.3.6 SUPPLY-SIDE CALCULATION
                 FIGURE 5 MARKET SIZE ESTIMATION FROM REVENUE ANALYSIS OF KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET

3 EXECUTIVE SUMMARY (Page No. - 50)
  TABLE 3 HEAT PUMP WATER HEATER MARKET SNAPSHOT
  FIGURE 6 AIR SOURCE SEGMENT IS EXPECTED TO DOMINATE THE HEAT PUMP WATER HEATER MARKET, BY TYPE, DURING THE FORECAST PERIOD
  FIGURE 7 UP TO 500 LITERS SEGMENT IS EXPECTED TO DOMINATE THE HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY, DURING THE FORECAST PERIOD
  FIGURE 8 10–20 KW SEGMENT IS EXPECTED TO HOLD THE LARGEST SHARE OF THE HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, DURING THE FORECAST PERIOD
  FIGURE 9 R410A SEGMENT IS EXPECTED TO HOLD THE LARGEST SHARE OF THE HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE, DURING THE FORECAST PERIOD
  FIGURE 10 RESIDENTIAL SEGMENT IS EXPECTED TO HOLD THE LARGEST SHARE OF THE HEAT PUMP WATER HEATER MARKET, BY END USER, DURING THE FORECAST PERIOD
  FIGURE 11 ASIA PACIFIC DOMINATED THE HEAT PUMP WATER HEATER MARKET IN 2019

4 PREMIUM INSIGHTS (Page No. - 56)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE HEAT PUMP WATER HEATER MARKET DURING THE FORECAST PERIOD
        FIGURE 12 ENVIRONMENT-FRIENDLY HEATING TECHNOLOGY AND FAVORABLE GOVERNMENT INCENTIVES ARE EXPECTED TO DRIVE THE HEAT PUMP WATER HEATER MARKET FROM 2020 TO 2026
    4.2 HEAT PUMP WATER HEATER MARKET, BY REGION
        FIGURE 13 ASIA PACIFIC HEAT PUMP WATER HEATER MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
    4.3 HEAT PUMP WATER HEATER MARKET, BY TYPE
        FIGURE 14 AIR SOURCE SEGMENT DOMINATED THE HEAT PUMP WATER HEATER MARKET, BY TYPE, IN 2019
    4.4 HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY
        FIGURE 15 UP TO 500 LITERS SEGMENT DOMINATED THE HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY, IN 2019
    4.5 HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY
        FIGURE 16 10–20 KW SEGMENT DOMINATED THE HEAT PUMP WATER HEATER MARKET,  BY RATED POWER, IN 2019
    4.6 HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE
        FIGURE 17 R410A SEGMENT DOMINATED THE HEAT PUMP WATER HEATER MARKET,  BY REFRIGERANT TYPE, IN 2019
    4.7 HEAT PUMP WATER HEATER MARKET, BY END USER
        FIGURE 18 RESIDENTIAL SEGMENT DOMINATED THE HEAT PUMP WATER HEATER MARKET, BY END USER, IN 2019

5 MARKET OVERVIEW (Page No. - 60)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
        FIGURE 19 HEAT PUMP WATER HEATER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Reduction in CO2 emissions
                    5.2.1.2 Governmental incentives and regulations to enhance energy efficiency
                            TABLE 4 LATEST POLICIES/INCENTIVES
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of awareness regarding benefits of heat pump water heaters in developing and underdeveloped countries
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Integration of IoT with heat pump water heaters
                    5.2.3.2 Positive outlook toward use of geothermal energy
           5.2.4 CHALLENGES
                    5.2.4.1 High installation costs
                    5.2.4.2 COVID-19 impact

6 WATER HEATER HEAT PUMP MARKET, BY TYPE (Page No. - 65)
    6.1 INTRODUCTION
    6.2 INSIGHTS OF INDUSTRY EXPERTS
        FIGURE 20 WATER HEATER HEAT PUMP MARKET, BY TYPE, 2019
        TABLE 5 HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
    6.3 AIR SOURCE
           6.3.1 LOW INSTALLATION COST IS BOOSTING DEMAND FOR AIR SOURCE HEAT PUMPS
                 TABLE 6 AIR SOURCE HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
    6.4 GEOTHERMAL HEAT PUMP
           6.4.1 HIGH EFFICIENCY AND GOVERNMENT SUBSIDIES ARE EXPECTED TO DRIVE THE MARKET FOR GEOTHERMAL HEAT PUMPS
                 TABLE 7 GEOTHERMAL HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)

7 HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY (Page No. - 69)
    7.1 INTRODUCTION
    7.2 INSIGHTS OF INDUSTRY EXPERTS
        FIGURE 21 HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2019
        TABLE 8 HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
    7.3 UP TO 10 KW
           7.3.1 SUITABILITY FOR SINGLE-FAMILY HOUSES IS EXPECTED TO DRIVE THIS SEGMENT
                 TABLE 9 UP TO 10 KW: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
    7.4 10–20 KW
           7.4.1 GROWING DEMAND FROM RESIDENTIAL SECTOR IS EXPECTED TO DRIVE THIS SEGMENT
                 TABLE 10 10–20 KW: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
    7.5 20–30 KW
           7.5.1 ABILITY TO MEET HEATING DEMAND OF COMMERCIAL SECTOR IS EXPECTED TO DRIVE THIS SEGMENT
                 TABLE 11 20–30 KW: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
    7.6 30–100 KW
           7.6.1 DEMAND FROM SMALL AND MEDIUM-SIZED COMMERCIAL BUILDINGS IS EXPECTED TO DRIVE THE MARKET
                 TABLE 12 30–100 KW: HEAT PUMP WATER HEATER MARKET, BY REGION,  2016–2026 (USD THOUSAND)
    7.7 100–150 KW
           7.7.1 HEATING DEMAND OF LARGE COMMERCIAL OPERATORS AND GOVERNMENT INITIATIVES ARE EXPECTED TO DRIVE THE MARKET
                 TABLE 13 100–150 KW: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
    7.8 ABOVE 150 KW
           7.8.1 HIGH-VOLUME HOT WATER DEMAND IN INDUSTRIES IS DRIVING THE MARKET
                 TABLE 14 ABOVE 150 KW: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)

8 WATER HEATER HEAT PUMP MARKET, BY REFRIGERANT TYPE (Page No. - 76)
    8.1 INTRODUCTION
    8.2 INSIGHTS OF INDUSTRY EXPERTS
        FIGURE 22 WATER HEATER HEAT PUMP MARKET, BY REFRIGERANT TYPE, 2019
        TABLE 15 WATER HEATER HEAT PUMP MARKET, BY REFRIGERANT TYPE, 2016–2026 (USD THOUSAND)
    8.3 R410A
           8.3.1 NO CONTRIBUTION TO OZONE DEPLETION IS EXPECTED TO DRIVE THE MARKET FOR THE R410 SEGMENT
                 TABLE 16 R410A: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
    8.4 R407C
           8.4.1 HIGHER TEMPERATURE OPERATIONS IS EXPECTED TO DRIVE THE MARKET FOR THIS SEGMENT
                 TABLE 17 R407C: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
    8.5 R744
           8.5.1 ECO-FRIENDLY OPERATIONAL CHARACTERISTIC IS EXPECTED TO DRIVE THE MARKET FOR R744 SEGMENT
                 TABLE 18 R744: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
    8.6 OTHERS
        TABLE 19 OTHERS: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)

9 HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY (Page No. - 81)
    9.1 INTRODUCTION
    9.2 INSIGHTS OF INDUSTRY EXPERTS
        FIGURE 23 HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY, 2019
        TABLE 20 HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
    9.3 UP TO 500 LITERS
           9.3.1 GOVERNMENT SUBSIDIES FOR RESIDENTIAL HEAT PUMPS ARE DRIVING THE MARKET
                 TABLE 21 UP TO 500 LITERS: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
    9.4 500–1,000 LITERS
           9.4.1 ABILITY TO PROVIDE HEATING TO SMALL COMMERCIAL INDUSTRIES IS DRIVING THE MARKET
                 TABLE 22 500–1,000 LITERS: HEAT PUMP WATER HEATER MARKET, BY REGION,  2016–2026 (USD THOUSAND)
    9.5 ABOVE 1,000 LITERS
           9.5.1 NEED TO REPLACE CONVENTIONAL HEATING TECHNOLOGIES WITH ENERGY-EFFICIENT SOURCE IS EXPECTED TO DRIVE THE SEGMENT
                 TABLE 23 ABOVE 1,000 LITERS: HEAT PUMP WATER HEATER MARKET, BY REGION,  2016–2026 (USD THOUSAND)

10 WATER HEATER HEAT PUMP MARKET, BY END USER (Page No. - 86)
     10.1 INTRODUCTION
     10.2 INSIGHTS OF INDUSTRY EXPERTS
          FIGURE 24 WATER HEATER HEAT PUMP MARKET, BY END USER, 2019
          TABLE 24 WATER HEATER HEAT PUMP MARKET, BY END USER, 2016–2026 (USD THOUSAND)
     10.3 RESIDENTIAL
             10.3.1 GOVERNMENT INITIATIVES FOR ENERGY EFFICIENCY ARE LIKELY TO BOOST DEMAND FOR WATER HEATER HEAT PUMPS
                    TABLE 25 RESIDENTIAL: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
     10.4 COMMERCIAL
             10.4.1 NEED TO ADOPT RENEWABLE ENERGY SOURCES FOR COMMERCIAL OPERATIONS IS DRIVING THE MARKET
                    TABLE 26 COMMERCIAL: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)
     10.5 INDUSTRIAL
             10.5.1 WATER HEATER HEAT PUMPS ENHANCE ENERGY EFFICIENCY IN MULTIPLE INDUSTRIAL APPLICATIONS
                    TABLE 27 INDUSTRIAL: HEAT PUMP WATER HEATER MARKET, BY REGION, 2016–2026 (USD THOUSAND)

11 HEAT PUMP WATER HEATER MARKET, BY REGION (Page No. - 92)
     11.1 INTRODUCTION
          FIGURE 25 REGIONAL SNAPSHOT: ASIA PACIFIC MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
          FIGURE 26 HEAT PUMP WATER HEATER MARKET SHARE, BY REGION, 2019
             11.1.1 GLOBAL HEAT PUMP WATER HEATER MARKET, BY REGION
                    TABLE 28 HEAT PUMP WATER HEATER MARKET, BY REGION, 2020–2026 (USD THOUSAND)
     11.2 NORTH AMERICA
          FIGURE 27 NORTH AMERICA: REGIONAL SNAPSHOT (2019)
             11.2.1 DISTRIBUTION CHANNEL ANALYSIS
             11.2.2 IMPORT AND EXPORT DATA
                    TABLE 29 NORTH AMERICA: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET, 2016–2019 (USD THOUSAND)
             11.2.3 BY TYPE
                    TABLE 30 NORTH AMERICA: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
             11.2.4 BY STORAGE TANK CAPACITY
                    TABLE 31 NORTH AMERICA: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY, 2016–2026 (USD THOUSAND)
             11.2.5 BY RATED CAPACITY
                    TABLE 32 NORTH AMERICA: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY,  2016–2026 (USD THOUSAND)
             11.2.6 BY REFRIGERANT TYPE
                    TABLE 33 NORTH AMERICA: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
             11.2.7 BY END USER
                    TABLE 34 NORTH AMERICA: HEAT PUMP WATER HEATER MARKET, BY END USER,  2016–2026 (USD THOUSAND)
             11.2.8 BY COUNTRY
                    TABLE 35 NORTH AMERICA: HEAT PUMP WATER HEATER MARKET, BY COUNTRY,  2016–2026 (USD THOUSAND)
             11.2.9 US
                        11.2.9.1 Increasing demand for energy-efficient heating of water in residential and commercial sectors is driving the market
                        11.2.9.2 General Market Trends
                                  TABLE 36 US: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.2.9.3 Average selling price, 2019
                                 FIGURE 28 US: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.2.9.4 Key manufacturers, 2019
                                  TABLE 37 US: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.2.9.5 Key distributors, 2019
                                  TABLE 38 US: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.2.9.6 Key consultants, 2019
                                  TABLE 39 US: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS. 2019
                        11.2.9.7 Import and Export data
                                  TABLE 40 US: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
                        11.2.9.8 By type
                                  TABLE 41 US: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.2.9.9 By storage tank capacity
                                  TABLE 42 US: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                        11.2.9.10 By rated capacity
                                  TABLE 43 US: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
                        11.2.9.11 By refrigerant type
                                  TABLE 44 US: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE, 2016–2026 (USD THOUSAND)
                        11.2.9.12 By End User
                                  TABLE 45 US: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.2.10 CANADA
                        11.2.10.1 Government regulations and policies to reduce pollution will enhance demand for heat pump water heaters
                        11.2.10.2 General market trends, 2019
                                  TABLE 46 CANADA: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.2.10.3 Average selling price, 2019
                                  FIGURE 29 CANADA: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.2.10.4 Key players, 2019
                                  TABLE 47 CANADA: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.2.10.5 Key distrbutors, 2019
                                  TABLE 48 CANADA: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.2.10.6 Key consultants, 2019
                                  TABLE 49 CANADA: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.2.10.7 Import and export data
                                  TABLE 50 CANADA: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016-2019 (USD THOUSAND)
                        11.2.10.8 By type
                                  TABLE 51 CANADA: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.2.10.9 By storage tank capacity
                                  TABLE 52 CANADA: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.2.10.10 By rated capacity
                                                TABLE 53 CANADA: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
                                     11.2.10.11 By refrigerant type
                                                TABLE 54 CANADA: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
                                     11.2.10.12 By End User
                                                TABLE 55 CANADA: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.2.11 MEXICO
                        11.2.11.1 Growing Initiatives for the renewable sector will boost the demand for heat pump water heaters
                        11.2.11.2 general market trents, 2019
                                  TABLE 56 MEXICO: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.2.11.3 Average selling price, 2019
                                  FIGURE 30 MEXICO: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.2.11.4 Key players, 2019
                                  TABLE 57 MEXICO: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.2.11.5 Key distributors, 2019
                                  TABLE 58 MEXICO: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.2.11.6 Key consultants, 2019
                                  TABLE 59 MEXICO: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.2.11.7 Import and export data
                                  TABLE 60 MEXICO: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
                        11.2.11.8 By type
                                  TABLE 61 MEXICO: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.2.11.9 By storage tank capacity
                                  TABLE 62 MEXICO: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.2.11.10 By rated capacity
                                                TABLE 63 MEXICO: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
                                     11.2.11.11 By refrigerant type
                                                TABLE 64 MEXICO: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE, 2016–2026 (USD THOUSAND)
                                     11.2.11.12 By End User
                                                TABLE 65 MEXICO: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
     11.3 EUROPE
             11.3.1 DISTRIBUTION CHANNEL ANALYSIS
             11.3.2 IMPORT AND EXPORT
                    TABLE 66 EUROPE: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
             11.3.3 BY TYPE
                    TABLE 67 EUROPE: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
             11.3.4 BY STORAGE TANK CAPACITY
                    TABLE 68 EUROPE: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY, 2016–2026 (USD THOUSAND)
             11.3.5 BY RATED CAPACITY
                    TABLE 69 EUROPE: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
             11.3.6 BY REFRIGERANT TYPE
                    TABLE 70 EUROPE: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
             11.3.7 BY END USER
                    TABLE 71 EUROPE: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.3.8 BY COUNTRY
                    TABLE 72 EUROPE: HEAT PUMP WATER HEATER MARKET, BY COUNTRY, 2016–2026 (USD THOUSAND)
             11.3.9 UK
                        11.3.9.1 Growth in the private housing and demand for renewable heat generation are driving the market
                        11.3.9.2 General market trends, 2019
                                 TABLE 73 UK: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.3.9.3 Average selling price, 2019
                                 FIGURE 31 UK: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.3.9.4 Key players, 2019
                                 TABLE 74 UK: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.3.9.5 Key distributors, 2019
                                 TABLE 75 UK: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.3.9.6 Key consultants, 2019
                                 TABLE 76 UK: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.3.9.7 Import and export data
                                 TABLE 77 UK: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
                        11.3.9.8 By type
                                 TABLE 78 UK: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.3.9.9 By storage tank capacity
                                 TABLE 79 UK: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                        11.3.9.10 By rated capacity
                                  TABLE 80 UK: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
                        11.3.9.11 By refrigerant type
                                  TABLE 81 UK: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE, 2016–2026 (USD THOUSAND)
                        11.3.9.12 By End User
                                  TABLE 82 UK: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.3.10 ITALY
                        11.3.10.1 Government schemes to enhance the installation of heat pump water heaters will positively impact the market
                        11.3.10.2 General market trends, 2019
                                  TABLE 83 ITALY: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.3.10.3 Average selling price, 2019
                                  FIGURE 32 ITALY: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.3.10.4 Key players, 2019
                                  TABLE 84 ITALY: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.3.10.5 key distributors, 2019
                                  TABLE 85 ITALY: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.3.10.6 Key consultants, 2019
                                  TABLE 86 ITALY: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.3.10.7 Import and export data
                                  TABLE 87 ITALY: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
                        11.3.10.8 By type
                                  TABLE 88 ITALY: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.3.10.9 By storage capacity
                                  TABLE 89 ITALY: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.3.10.10 By rated capacity
                                                TABLE 90 ITALY: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
                                     11.3.10.11 By refrigerant type
                                                TABLE 91 ITALY: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE, 2016–2026 (USD THOUSAND)
                                     11.3.10.12 By End User
                                                TABLE 92 ITALY: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
     11.4 ASIA PACIFIC
          FIGURE 33 ASIA PACIFIC: REGIONAL SNAPSHOT (2019)
             11.4.1 DISTRIBUTION CHANNEL ANALYSIS
             11.4.2 IMPORT AND EXPORT
                    TABLE 93 ASIA PACIFIC: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
             11.4.3 BY TYPE
                    TABLE 94 ASIA PACIFIC: HEAT PUMP WATER HEATER MARKET, BY TYPE,  2016–2026 (USD THOUSAND)
             11.4.4 BY STORAGE TANK CAPACITY
                    TABLE 95 ASIA PACIFIC: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
             11.4.5 BY RATED CAPACITY
                    TABLE 96 ASIA PACIFIC: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY,  2016–2026 (USD THOUSAND)
             11.4.6 BY REFRIGERANT TYPE
                    TABLE 97 ASIA PACIFIC: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
             11.4.7 BY END USER
                    TABLE 98 ASIA PACIFIC: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.4.8 BY COUNTRY
                    TABLE 99 ASIA PACIFIC: HEAT PUMP WATER HEATER MARKET, BY COUNTRY, 2016–2026 (USD THOUSAND)
             11.4.9 INDIA
                        11.4.9.1 Government initiatives towards renewables are expected to drive the market in the country
                        11.4.9.2 By general market trends, 2019
                                                TABLE 100 INDIA: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.9.3 Average selling price, 2019
                                 FIGURE 34 INDIA: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.4.9.4 Key players, 2019
                                 TABLE 101 INDIA: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.4.9.5 Key distributor, 2019
                                 TABLE 102 INDIA: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.4.9.6 Key consultants, 2019
                                 TABLE 103 INDIA: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.9.7 Import and export data
                                 TABLE 104 INDIA: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
                        11.4.9.8 By type
                                 TABLE 105 INDIA: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.4.9.9 By storage tank capacity
                                 TABLE 106 INDIA: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                        11.4.9.10 By rated capacity
                                  TABLE 107 INDIA: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
                        11.4.9.11 By refrigerant type
                                  TABLE 108 INDIA: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE, 2016–2026 (USD THOUSAND)
                        11.4.9.12 By End User
                                  TABLE 109 INDIA: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.4.10 CHINA
                        11.4.10.1 Growing urban population and initiatives to minimize pollution will create demand for heat pump water heaters
                        11.4.10.2 General market trends, 2019
                                  TABLE 110 CHINA: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.10.3 Average selling price, 2019
                                  FIGURE 35 CHINA: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.4.10.4 Key players, 2019
                                  TABLE 111 CHINA: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.4.10.5 Key distributors, 2019
                                  TABLE 112 CHINA: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.4.10.6 Key consultants, 2019
                                  TABLE 113 CHINA: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.10.7 Import and export data
                                  TABLE 114 CHINA: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
                        11.4.10.8 By type
                                  TABLE 115 CHINA: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.4.10.9 By storage tank capacity
                                  TABLE 116 CHINA: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.10.10 By rated capacity
                                                TABLE 117 CHINA: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
                                     11.4.10.11 By refrigerant type
                                                TABLE 118 CHINA: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE, 2016–2026 (USD THOUSAND)
                                     11.4.10.12 By End User
                                                TABLE 119 CHINA: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.4.11 AUSTRALIA
                        11.4.11.1 Favorable environmental conditions and focus toward the renewable sector are expected to drive the market
                        11.4.11.2 General market trends, 2019
                                  TABLE 120 AUSTRALIA: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.11.3 Average selling price, 2019
                                  FIGURE 36 AUSTRALIA: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.4.11.4 Key players, 2019
                                  TABLE 121 AUSTRALIA: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.4.11.5 Key distributors, 2019
                                  TABLE 122 AUSTRALIA: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.4.11.6 Key consultants, 2019
                                  TABLE 123 AUSTRALIA: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.11.7 Import and export data
                                  TABLE 124 AUSTRALIA: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
                        11.4.11.8 By type
                                  TABLE 125 AUSTRALIA: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.4.11.9 By storage tank capacity
                                  TABLE 126 AUSTRALIA: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.11.10 By rated capacity
                                                TABLE 127 AUSTRALIA: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.11.11 By refrigerant type
                                                TABLE 128 AUSTRALIA: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE, 2016–2026 (USD THOUSAND)
                                     11.4.11.12 By End User
                                                TABLE 129 AUSTRALIA: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.4.12 THAILAND
                        11.4.12.1 Government initiatives to encourage the installation of heat pump water heaters will drive the market
                        11.4.12.2 General market trends, 2019
                                  TABLE 130 THAILAND: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.12.3 Average selling price, 2019
                                  FIGURE 37 THAILAND: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.4.12.4 Key players, 2019
                                  TABLE 131 THAILAND: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.4.12.5 Key distributors, 2019
                                  TABLE 132 THAILAND: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.4.12.6 Key consultants, 2019
                                  TABLE 133 THAILAND: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.12.7 Import and export data
                                  TABLE 134 THAILAND: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019
                        11.4.12.8 By type
                                  TABLE 135 THAILAND: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.4.12.9 By storage tank capacity
                                  TABLE 136 THAILAND: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY, 2016–2026 (USD THOUSAND)
                                     11.4.12.10 By rated capacity
                                                TABLE 137 THAILAND: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.12.11 By refrigerant type
                                                TABLE 138 THAILAND: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
                                     11.4.12.12 By End User
                                                TABLE 139 THAILAND: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.4.13 NEW ZEALAND
                        11.4.13.1 Government initiatives for residential and commercial sector heat pump operations are expected to boost the market
                        11.4.13.2 General market trends, 2019
                                  TABLE 140 NEW ZEALAND: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.13.3 Average selling price, 2019
                                  FIGURE 38 NEW ZEALAND: AVERAGE SELLING PRICE OF HEAT PUMP WATER  HEATERS, 2019
                        11.4.13.4 Key players, 2019
                                  TABLE 141 NEW ZEALAND: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.4.13.5 Key distributors, 2019
                                  TABLE 142 NEW ZEALAND: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.4.13.6 Key consultants, 2019
                                  TABLE 143 NEW ZEALAND: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.13.7 Import and export data
                                  TABLE 144 NEW ZEALAND: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET, 2016–2019 (USD THOUSAND)
                        11.4.13.8 By type
                                  TABLE 145 NEW ZEALAND: HEAT PUMP WATER HEATER MARKET, BY TYPE,  2016–2026 (USD THOUSAND)
                        11.4.13.9 By storage tank capacity
                                  TABLE 146 NEW ZEALAND: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY, 2016–2026 (USD THOUSAND)
                                     11.4.13.10 By rated capacity
                                                TABLE 147 NEW ZEALAND: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.13.11 By refrigerant type
                                                TABLE 148 NEW ZEALAND: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
                                     11.4.13.12 By End User
                                                TABLE 149 NEW ZEALAND: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.4.14 SINGAPORE
                        11.4.14.1 Growing demand for energy efficiency is expected to propel the market of heat pump water heaters
                        11.4.14.2 General market trends, 2019
                                  TABLE 150 SINGAPORE: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.14.3 Average selling price, 2019
                                  FIGURE 39 SINGAPORE: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.4.14.4 Key players, 2019
                                  TABLE 151 SINGAPORE: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.4.14.5 Key distributors, 2019
                                  TABLE 152 SINGAPORE: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.4.14.6 Key consultants, 2019
                                  TABLE 153 SINGAPORE: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.14.7 Import and export data
                                  TABLE 154 SINGAPORE: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET, 2016–2019 (USD THOUSAND)
                        11.4.14.8 By type
                                  TABLE 155 SINGAPORE: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.4.14.9 By storage tank capacity
                                  TABLE 156 SINGAPORE: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.14.10 By rated capacity
                                                TABLE 157 SINGAPORE: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.14.11 By refrigerant type
                                                TABLE 158 SINGAPORE: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
                                     11.4.14.12 By End User
                                                TABLE 159 SINGAPORE: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.4.15 INDONESIA
                        11.4.15.1 Extensive focus toward the consumption of renewable energy will drive the demand for heat pump water heaters
                        11.4.15.2 General market trends, 2019
                                  TABLE 160 INDONESIA: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.15.3 Average selling price, 2019
                                  FIGURE 40 INDONESIA: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.4.15.4 Key players, 2019
                                  TABLE 161 INDONESIA: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.4.15.5 Key distributors, 2019
                                  TABLE 162 INDONESIA: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.4.15.6 Key consultants, 2019
                                  TABLE 163 INDONESIA: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.15.7 Import and export data
                                  TABLE 164 INDONESIA: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET, 2016–2019 (USD THOUSAND)
                        11.4.15.8 By type
                                  TABLE 165 INDONESIA: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.4.15.9 By storage tank capacity
                                  TABLE 166 INDONESIA: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY, 2016–2026 (USD THOUSAND)
                                     11.4.15.10 By rated capacity
                                                TABLE 167 INDONESIA: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.15.11 By refrigerant type
                                                TABLE 168 INDONESIA: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
                                     11.4.15.12 By End User
                                                TABLE 169 INDONESIA: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.4.16 TAIWAN
                        11.4.16.1 Government initiatives for energy efficiency will boost the market for heat pump water heaters
                        11.4.16.2 General market trends, 2019
                                  TABLE 170 TAIWAN: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.16.3 Average selling price, 2019
                                  FIGURE 41 TAIWAN: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.4.16.4 Key players, 2019
                                  TABLE 171 TAIWAN: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.4.16.5 Key distributors and consultants, 2019
                                  TABLE 172 TAIWAN: KEY DISTRIBUTORS AND CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.16.6 By type
                                  TABLE 173 TAIWAN: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.4.16.7 By storage tank capacity
                                  TABLE 174 TAIWAN: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                        11.4.16.8 By rated capacity
                                  TABLE 175 TAIWAN: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
                        11.4.16.9 By refrigerant type
                                  TABLE 176 TAIWAN: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
                                     11.4.16.10 By End User
                                  TABLE 177 TAIWAN: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
             11.4.17 MALAYSIA
                        11.4.17.1 Government’s focus on increasing renewable energy generation is expected to increase the demand for heat pump water heaters
                        11.4.17.2 General market trends, 2019
                                 TABLE 178 MALAYSIA: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.17.3 Average selling price, 2019
                                  FIGURE 42 MALAYSIA: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.4.17.4 Key players, 2019
                                  TABLE 179 MALAYSIA: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                        11.4.17.5 Key distributors, 2019
                                  TABLE 180 MALAYSIA: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.4.17.6 Key consultants, 2019
                                  TABLE 181 MALAYSIA: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.4.17.7 Import and export data
                                  TABLE 182 MALAYSIA: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATER MARKET,  2016–2019 (USD THOUSAND)
                        11.4.17.8 By type
                                  TABLE 183 MALAYSIA: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
                        11.4.17.9 By storage tank capacity
                                  TABLE 184 MALAYSIA: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.17.10 By rated capacity
                                                TABLE 185 MALAYSIA: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY,  2016–2026 (USD THOUSAND)
                                     11.4.17.11 By refrigerant type
                                                TABLE 186 MALAYSIA: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
                                     11.4.17.12 By End User
                                                TABLE 187 MALAYSIA: HEAT PUMP WATER HEATER MARKET, BY END USER, 2016–2026 (USD THOUSAND)
     11.5 SOUTH AMERICA
             11.5.1 BRAZIL
                        11.5.1.1 Government policies for energy efficiency and growth in the renewable sector will propel the market
                        11.5.1.2 General market trends, 2019
                                 TABLE 188 BRAZIL: GENERAL MARKET TRENDS FOR HEAT PUMP WATER HEATERS, 2019
                        11.5.1.3 Average selling price, 2019
                                 FIGURE 43 BRAZIL: AVERAGE SELLING PRICE OF HEAT PUMP WATER HEATERS, 2019
                        11.5.1.4 Key players, 2019
                                 TABLE 189 BRAZIL: KEY PLAYERS IN HEAT PUMP WATER HEATER MARKET, 2019
                                 TABLE 190 BRAZIL: KEY DISTRIBUTORS OF HEAT PUMP WATER HEATERS, 2019
                        11.5.1.5 Key distributors, 2019
                        11.5.1.6 Key consultants, 2019
                                 TABLE 191 BRAZIL: KEY CONSULTANTS FOR HEAT PUMP WATER HEATERS, 2019
                        11.5.1.7 Distribution channel analysis
             11.5.2 EXPORT AND IMPORT
                    TABLE 192 BRAZIL: IMPORT & EXPORT DATA FOR HEAT PUMP WATER HEATERS, 2016–2019 (USD THOUSAND)
             11.5.3 BY TYPE
                    TABLE 193 BRAZIL: HEAT PUMP WATER HEATER MARKET, BY TYPE, 2016–2026 (USD THOUSAND)
             11.5.4 BY CAPACITY
                    TABLE 194 BRAZIL: HEAT PUMP WATER HEATER MARKET, BY STORAGE TANK CAPACITY,  2016–2026 (USD THOUSAND)
             11.5.5 BY RATED POWER
                    TABLE 195 BRAZIL: HEAT PUMP WATER HEATER MARKET, BY RATED CAPACITY, 2016–2026 (USD THOUSAND)
             11.5.6 BY REFRIGERANT TYPE
                    TABLE 196 BRAZIL: HEAT PUMP WATER HEATER MARKET, BY REFRIGERANT TYPE,  2016–2026 (USD THOUSAND)
             11.5.7 BY END USER
                    TABLE 197 BRAZIL: HEAT PUMP WATER HEATER MARKET, BY END USER,  2016–2026 (USD THOUSAND)

12 COMPETITIVE LANDSCAPE (Page No. - 189)
     12.1 OVERVIEW
          FIGURE 44 KEY DEVELOPMENTS IN THE HEAT PUMP WATER HEATER MARKET, JANUARY 2016–JULY 2020
     12.2 COMPETITIVE LEADERSHIP MAPPING
             12.2.1 STAR
             12.2.2 EMERGING LEADER
             12.2.3 PERVASIVE
             12.2.4 PARTICIPANTS
                    FIGURE 45 COMPETITIVE LEADERSHIP MAPPING
     12.3 MARKET SHARE, 2019
          FIGURE 46 MIDEA GROUP LED THE HEAT PUMP WATER HEATER MARKET IN 2019
     12.4 COMPETITIVE SCENARIO
             12.4.1 NEW PRODUCT LAUNCHES
             12.4.2 MERGERS & ACQUISITIONS
             12.4.3 CONTRACTS & AGREEMENTS
             12.4.4 INVESTMENTS & EXPANSIONS
             12.4.5 OTHERS

13 COMPANY PROFILES (Page No. - 199)
(Business overview, Products/Solutions/Services Offered, Recent Developments, COVID-19-Related Developments, MNM view)*
     13.1 PANASONIC CORPORATION
          TABLE 198 PANASONIC CORPORATION: OFFICES AND MANUFACTURING LOCATIONS
          FIGURE 47 PANASONIC C0RPORATION: COMPANY SNAPSHOT
     13.2 LG ELECTRONICS
          FIGURE 48 LG ELECTRONICS: COMPANY SNAPSHOT
     13.3 JOHNSON CONTROLS-HITACHI AIR CONDITIONING
     13.4 MITSUBISHI ELECTRIC
          TABLE 199 MITSUBISHI ELECTRIC: OFFICES AND MANUFACTURING LOCATIONS
          FIGURE 49 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
     13.5 INGERSOLL RAND (TRANE TECHNOLOGIES)
          FIGURE 50 INGERSOLL RAND (TRANE TECHNOLOGIES): COMPANY SNAPSHOT
     13.6 FUJITSU GENERAL
          TABLE 200 FUJITSU GENERAL: OFFICES AND MANUFACTURING LOCATIONS
          FIGURE 51 FUJITSU GENERAL: COMPANY SNAPSHOT
     13.7 LENNOX INTERNATIONAL
          TABLE 201 US AND CANADA SALES OFFICE LOCATIONS
          FIGURE 52 LENNOX INTERNATIONAL: COMPANY SNAPSHOT
     13.8 HAIER
          FIGURE 53 HAIER: COMPANY SNAPSHOT
     13.9 UNITED TECHNOLOGIES CORPORATION (CARRIER GLOBAL)
          FIGURE 54 UNITED TECHNOLOGIES CORPORATION: COMPANY SNAPSHOT
     13.10 RHEEM MANUFACTURING COMPANY
     13.11 A.O. SMITH CORPORATION
           TABLE 202 A.O. SMITH CORPORATION: OFFICES AND MANUFACTURING LOCATIONS
           FIGURE 55 A. O. SMITH CORPORATION: COMPANY SNAPSHOT
     13.12 BOSCH INDUSTRIES
           FIGURE 56 BOSCH INDUSTRIES: COMPANY SNAPSHOT
     13.13 VAILLANT GROUP
     13.14 MIDEA GROUP
     13.15 DAIKIN
           TABLE 203 DAIKIN: OFFICES AND MANUFACTURING LOCATIONS
           FIGURE 57 DAIKIN: COMPANY SNAPSHOT
     13.16 VIESSMANN GROUP
     13.17 STIEBEL ELTRON
     13.18 GLEN DIMPLEX
     13.19 NIBE ENERGY SYSTEMS
     13.20 GREE ELECTRIC APPLIANCES
     13.21 EMERSON
     13.22 NORTEK GLOBAL HVAC
     13.23 GUANGZHOU SPRSUN NEW ENERGY TECHNOLOGY DEVELOPMENT
     13.24 ARISTON THERMO
     13.25 EVO ENERGY TECHNOLOGIES

*Details on Business overview, Products/Solutions/Services Offered, Recent Developments, COVID-19-Related Developments, MNM view might not be captured in case of unlisted companies.

14 APPENDIX (Page No. - 254)
     14.1 INSIGHTS OF INDUSTRY EXPERTS
     14.2 DISCUSSION GUIDE
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.4 AVAILABLE CUSTOMIZATIONS
     14.5 RELATED REPORTS
     14.6 AUTHOR DETAILS

This study involved four major activities in estimating the current market size for heat pump water heaters. Exhaustive secondary research was done to collect information on the market and the peer market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakdown and data triangulation were done to estimate the market size of the segments and subsegments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global heat pump water heaters market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The heat pump water heater market comprises several stakeholders, such as service providers, contractors, and third-party vendors. The demand side of this market is characterized by the huge demand for digitalization from operators/service providers. Advancements in new technology in heat pump water heaters characterize the supply side. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as following—

Heat Pump Water Heater Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global heat pump water heater market and its dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market shares in the resective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Heat Pump Water Heater Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define, describe, and forecast the global heat pump water heaters market by type, by storage tank capacity, by rated capacity, by refrigerant,, by end user and region
  • To provide detailed information on the major factors influencing the growth of the heat pump water heater market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the heat pump water heaters market with respect to individual growth trends, prospects, and contribution of each segment to the market
  • To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
  • To forecast the growth of the heat pump water heaters market with respect to the major regions (Asia Pacific, Europe, North America, and South America)
  • To strategically profile key players and comprehensively analyze their market share and core competencies
  • To track and analyze competitive developments such as contracts & agreements, expansions, new product developments,  and partnerships in the heat pump water heater market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Heat Pump Water Heater Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Heat Pump Water Heater Market

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Sep, 2020
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