Heat Pump Market: Size & Trends Shows a Rapid Growth by 2027

The Global Heat Pump Market size is expected to grow at an annual average of 6.63% during 2021-2027. Heat pump is a mechanical compression circulation refrigeration system that can be turned back to heat or cool the desired space. Therefore, it is used in large quantities in space heating and cooling applications. It is very similar to an indoor air conditioner and a central air conditioner, but consists of two main components: an outdoor unit called a heat pump.

The following players are covered in this report:

By Rated Capacity:

• Up to 10 kW
• 10–20 kW
• 20–30 kW
• Above 30 kW

By Type:

• Air-to-Air
• Air-to-Water

By End-User:

• Residential
• Commercial
• Hospitality
• Retail
• Education
• Other

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