CO2 heat pump water heater market is expected to grow from $ 9.5 billion in 2021 to $ XX.X billion in 2028, with a CAGR of 8% between 2021 and 2028.


Posted November 8, 2021 by Bhargav

CO2 Heat Pump Water Heater Market size was valued at US$ 1.42 billion in 2021 and is anticipated to reach US$ 2.40 billion by 2026 and increase at a CAGR of 6.86%

 
Market overview:
The Source Air segment will be the fastest growing type segment with a CAGR of 9%. The residential application will be the fastest growing application with a CAGR of 10%, followed by the industrial and commercial segments. The CO₂ heat pump water heater is a device that extracts heating energy from the air. The extraction process uses carbon dioxide that circulates in a closed loop between the compressor and the condenser, expanding into superheated gas as it passes through these two components to release thermal energy. The superheated CO₂ is then cooled in the heat exchanger before returning to its liquid form.

Recent developments:
US-based John Miles and Maho Ito announced Monday at the AHR Expo in Orlando, Florida, US Monday that they have jointly acquired the CO2 heat pump and water heater business from Japanese equipment supplier Sanden, which they previously marketed on behalf of Sanden in North America in six to ten years.

Market Drivers and Restrains:
These heat pumps have been widely adopted and approved due to their economic and environmental benefits. In addition, the initiatives of the governments of different countries are also fueling the growing demand for geothermal heat pumps. Additionally, a heat pump water heater is one of the most promising technologies for reducing greenhouse gas emissions. A heat pump water heater is an energy efficient way to provide heat using air and geothermal technology. Therefore, carbon emissions from energy consumption and production can be significantly reduced by using heat pump water heater systems instead of fossil fuel based systems. There are sure limitations and limits that will restrict the development of the market. Factors, for example, the absence of mindfulness about the advantages of heat pump water heaters in developing and under developed nations are restricting the development of the market.

To know more read:
https://www.marketdataforecast.com/market-reports/co2-heat-pump-water-heater-market

Report is segmented as:
By Product:
• Air source
• Water source
By Application:
• Residential
• Commercial
• Industrial

Geographical Segmentation:
The North American CO² thermodynamic water heater market is expected to grow at a CAGR of XX% between 2017 and 2028. This growth in the region can be attributed to recent changes made by various countries such as the United States and Canada in part of its efforts to reduce carbon dioxide emissions from industrial facilities in accordance with the guidelines provided by the Global Protocol for the Community's Right to Know on Carbon Dioxide (CPA).

Impact of COVID-19 on CO2 Heat Pump Water Heater Market:
The global heat pump market was valued at USD 6.04 billion in 2020 and is forecast to reach USD 9.87 billion by 2026, registering a CAGR of 9.5%, over the forecast period (2021-2026). The pandemic epidemic of COVID-19 has created economic turmoil for small, medium and large industries globally. While it is realistic to expect slow growth or even a decline in heat pump sales, government policies and consumer demand should drive heat pump sales. End users are now increasingly concerned about disruptions and hazards that threaten climate change and carbon emissions (officially called the “blue planet effect”) and are making environmentally friendly heating decisions.

Key market players:
some of the major players such as Sanden, Mitsubishi, DENSO, AAON, DunAn Group, enEX, Sujing Group, Nihon Itomic, Daikin, and Zero Energy Project.
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Tags co2 heat pump water heater market , co2 heat pump water heater share
Last Updated November 8, 2021