Residential Ducted Heat Pump Market Share

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.