The Market Reports

Synopsis
The global market for Air Source Heat Pump was estimated to be worth US$ 71029 million in 2024 and is forecast to a readjusted size of US$ 115346 million by 2031 with a CAGR of 7.1% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Air Source Heat Pump cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
Air Source Heat Pump (ASHP) is a device which uses a vapor compression cycle to transfer heat between outdoor air and indoor air or water. There are two type of air source heat pumps including air-to-air heat pumps and air-to-water heat pumps. As the name implies, these systems heat or cool indoor air or move energy into water. An air-source heat pump can provide efficient heating and cooling for your home, especially if you live in a warm climate. When properly installed, an air-source heat pump can deliver one-and-a-half to three times more heat energy to a home than the electrical energy it consumes. This is possible because a heat pump moves heat rather than converting it from a fuel, like in combustion heating systems.
Market Drivers
Policy Support:
China's “Action Plan for Promoting High-Quality Development of the Heat Pump Industry” aims to improve heat pump energy efficiency by over 20% by 2030.
The EU's “Green Deal” targets 4 million heat pump installations per year by 2030.
The US Inflation Reduction Act (IRA) offers up to $8,000 in subsidies.
Energy Transition: Global energy price fluctuations are driving the replacement of fossil fuels with heat pumps, with China's northern “coal-to-electricity” projects covering over 10 million households.
Technological Advancements: Breakthroughs in ultra-low-temperature technology (e.g., Fenni operating stably at -41°C) are driving market penetration in northern regions.
Technological Innovation Directions
Low-Temperature Performance Breakthroughs:
Jet-Enhanced Vapor Injection (EVI) technology extends heating limits to -35°C, with a COP of 2.14 at -20°C.
The Fenni Kirin HP series maintains over 90% heating efficiency at -41°C through bidirectional jet-enhanced vapor injection technology.
Multi-energy complementary systems:
Photovoltaic-heat pump integration (e.g., Fenni Smart Drive System) achieves “zero-carbon heating,” reducing purchased electricity by 60%.
Combining heat pumps with thermal storage tanks addresses grid load fluctuations.
Intelligent upgrades:
IoT monitoring (e.g., Gree Cloud Control System) enables remote fault alerts, reducing maintenance response time to 30 minutes.
AI algorithms optimize defrosting cycles, improving defrosting efficiency by 30%.
The air-source heat pump industry is currently in a golden period of technological breakthroughs and market expansion. As policy incentives are released, technological costs decline, and application scenarios expand, future competition will focus on three key areas: ultra-low-temperature technology R&D, multi-energy complementary system integration, and intelligent operation and maintenance services. Manufacturers with full-industry-chain integration capabilities (such as Haier, Midea, and Fenni) will dominate the market landscape. The industry should prioritize low-temperature energy efficiency improvements, standardized installation services, and the development of emerging markets to address the opportunities and challenges brought by the energy transition.
This report aims to provide a comprehensive presentation of the global market for Air Source Heat Pump, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Air Source Heat Pump by region & country, by Type, and by Application.
The Air Source Heat Pump market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Air Source Heat Pump.
Market Segmentation
By Company
Daikin
Carrier
Midea
Mitsubishi
Hitachi
Bosch
LG Electronics
NIBE Industrier
Fujitsu
Panasonic
Vaillant
GREE Electric
Atlantic
Stiebel Eltron
Rheem
AMITIME
Thermia
Johnson Controls
Aermec
Zhengxu
Maritime Geothermal
Kensa
Calorex
Sirac
Tongyi Electrical
Segment by Type
Air-to-Air
Air-to-Water
Segment by Application
Residential
Commercial
Industrial
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Air Source Heat Pump manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Air Source Heat Pump in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Air Source Heat Pump in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index