Heat pump water heater market size is projected to reach USD 2.1 billion by 2027 from an estimated value of USD 1.4 billion in 2021, at a CAGR of 6%.
Heat pump water heaters generally use electricity to move heat from one place to another instead of generating heat directly, helping to reduce energy consumption by up to three times compared to traditional electric resistance water heaters.
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Major market player included in this report are:
- Panasonic Corporation
- LG Electronics
- Johnson Controls-Hitachi Air Conditioning
- Mitsubishi Electric
- Ingersoll Rand (Trane Technologies)
- Fujitsu General
- Lennox International
- Haier
Segment by Type
- Air Source Heat Pump
- Water Source Heat Pump
- Ground Source Heat Pump
Segment by Application
- Residential Use
- Commercial & Industrial Use
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
