Residential Ducted Heat Pump Market size was over USD 10.27 billion in 2024 and is poised to exceed USD 29.31 billion by 2037, witnessing over 8.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of residential ducted heat pump is evaluated at USD 10.96 billion. The major element to dominates the expansion of the market is the growing deterioration of air quality. As per the prediction of the World Health Organization, the premature death of 3.2 million people through illnesses is attributed to household air pollution led by the deficient flaming kerosene and solid fuels utilized for cooking. Furthermore, other pollutants present indoors provoke airways and lungs and decrease the oxygen-carrying capacity. Hence, the need to improve air quality is growing. As a consequence, the demand for residential ducted heat pump is also experiencing growth.
Furthermore, governments across the world are launching various policies and schemes to support the deployment of ducted heat pumps in residential facilities to encourage a clean indoor environment. Hence, this factor is also predicted to influence the residential ducted heat pump market revenue.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
8.4% |
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Base Year Market Size (2024) |
USD 10.27 billion |
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Forecast Year Market Size (2037) |
USD 29.31 billion |
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Regional Scope |
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Application (Single Family, Multi Family)
The single-family segment is predicted to account for 60% share of the global residential ducted heat pump market during the forecast period. This growth of the segment is set to be dominated by growing people's preference for single-family properties since they are easy to manage and require low maintenance. Moreover, Single-family homes constitute a fundamental aspect of the housing market. The demand for single-family properties remains strong throughout economic cycles. Hence, with the growing single-family property, the adoption of Residential Ducted Heat Pump is also set to rise further dominating the market growth.
Product Type (Air Source Heat Pump, Geothermal Heat Pump, Water Source Heat Pump)
The air source heat pump segment is predicted to account for 50% share of the global residential ducted heat pump market during forecast period. An air-source heat pump is the most frequently used heat pump, which conveys heat between the house and the outside air. Current air source heat pumps may lower the need for power for heating by close to 9% to about 39% in contrast to oil boilers. Moreover, along with being more energy-efficient, air source heat pumps are additionally cost-effective as they could be used in the long run. Furthermore, they demand low maintenance and lower operating costs as compared to conventional heating systems. Additionally, these systems are generally only nominally more costly in contrast to standalone AC solutions however they offer enhanced outcomes. Further, this segment is also set to be dominated by growing investment in solar energy. This is because air-source heat pumps could be powered by solar panels.
Our in-depth analysis of the global market includes the following segments:
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Application |
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Product Type |
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North American Market Forecast
The North America market for residential ducted heat pump is projected to gather the highest revenue share of about 35% over the forecast period. The major element to boosts the growth of the market in this region is the rising population. The population of North America currently is about 381,048,004, an approximately 0.56% increase from 2023. Hence, the construction of buildings is predicted to rise which is further estimated to dominate the expansion of the residential ducted heat pump market. Moreover, nearly all residential systems in this region are air-to-air models in ducted air systems. These are bigger as compared to those usually utilized in Asia, where there is frequently one unit for each room.
European Market Analysis
The Europe market for residential ducted heat pump is also set to have notable growth of the revenue during the forecast period. Europe has appeared as a leader in the globe in the shift to energy-efficient and sustainable heating systems. This, ducted heat pumps have performed an essential place in this modification, with organizations like the International Energy Agency recognizing their importance in decreasing heating and attaining net-zero emissions. Furthermore, Norway, Finland, Sweden, Estonia, and many more of Europe's coldest winters, have one of the largest adoption rates for heat pumps. Moreover, another factor that is projected to influence the surge of the heat pump sector in the coming period is the growing need to restrain dependence on fossil fuels. This is because the Europe region is being significantly affected owing to the disruption of the supply chain because of the Russia-Ukraine dispute. Additionally, the integration of IoT for Residential Ducted Heat Pump is also growing. Also, significant investment has been made by various key players to encourage this integration. Hence, this factor is also estimated to dominate the expansion of the market in this region.
Author Credits: Richa Gupta
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