Residential Ducted Heat Pump Market Analysis

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: