What is the study period of Air Source Heat Pump market?

The air source heat pump is studied from 2019-2029. <a href='https://www.technavio.com/report/air-source-heat-pump-market-industry-analysis'>Read More</a>

Which region is expected to show the highest market share in the Air Source Heat Pump market?

North America is to show the highest market share with 40% contribution. <a href='https://www.technavio.com/report/air-source-heat-pump-market-industry-analysis'>Read More</a>

What are the major market players covered in the report?

A. O. Smith India Water Products Pvt. Ltd., Alibaba Group Holding Ltd., Ariston Holding NV, BDR Thermea Group, Carrier Global Corp., Colmac Industries Inc., Daikin .... <a href='https://www.technavio.com/report/air-source-heat-pump-market-industry-analysis'>Read More</a>

What is the current size of the Air Source Heat Pump market?

air source heat pump will increase $ 62177.9 mn during 2025-2029. <a href='https://www.technavio.com/report/air-source-heat-pump-market-industry-analysis'>Read More</a>

What is the Year-Over-Year Growth Rate of Market 2025-2029?

10.0% is the year-over-year Growth of Market. <a href='https://www.technavio.com/report/air-source-heat-pump-market-industry-analysis'>Read More</a>

Air Source Heat Pump Market Analysis, Size, and Forecast 2025-2029: North America (US and Canada), Europe (France, Germany, Italy, and UK), APAC (China, India, Japan, and South Korea), and Rest of World (ROW)

Published: May 2025
Pages: 204
SKU: IRTNTR76740

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Air Source Heat Pump Market Size 2025-2029

The air source heat pump market size is forecast to increase by USD 62.18 billion at a CAGR of 11.7% between 2024 and 2029.

The Air Source Heat Pump (ASHP) market is experiencing significant growth, driven by escalating environmental concerns and the integration of advanced technologies such as smart technology and IoT features. These systems offer energy efficiency and reduced carbon emissions, aligning with global efforts to mitigate climate change. However, the high initial investment costs represent a substantial challenge for market expansion. Regulatory hurdles, including complex approval processes and varying standards across regions, also impact adoption. The market is witnessing significant growth due to the increasing demand for energy-efficient HVAC solutions in various sectors, particularly in the construction industry.
To capitalize on the market's potential, companies must focus on cost reduction strategies, collaborative partnerships, and the development of standardized regulations. By addressing these challenges and continuing to innovate, ASHP manufacturers can seize opportunities in the growing demand for sustainable heating solutions.

What will be the Size of the Air Source Heat Pump Market during the forecast period?

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1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Product
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation

2.3 Factors of disruption
- Overview on factors of disruption

2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market

3.2 Market characteristics
- Market characteristics analysis

3.3 Value chain analysis
- Value chain analysis

4 Market Sizing

4.1 Market definition
- Offerings of companies included in the market definition

4.2 Market segment analysis
- Market segments

4.3 Market size 2024

4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ million)
- Data Table on Global - Market size and forecast 2024-2029 ($ million)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

5.1 Global Air Source Heat Pump Market 2019 - 2023
- Historic Market Size - Data Table on Global Air Source Heat Pump Market 2019 - 2023 ($ million)

5.2 Product segment analysis 2019 - 2023
- Historic Market Size - Product Segment 2019 - 2023 ($ million)

5.3 Application segment analysis 2019 - 2023
- Historic Market Size - Application Segment 2019 - 2023 ($ million)

5.4 Type segment analysis 2019 - 2023
- Historic Market Size - Type Segment 2019 - 2023 ($ million)

5.5 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ million)

5.6 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ million)

6 Qualitative Analysis

6.1 Impact of AI in global air source heat pump market

7 Five Forces Analysis

7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029

7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029

7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029

7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029

7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029

7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029

7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029

8 Market Segmentation by Product

8.1 Market segments
- Chart on Product - Market share 2024-2029 (%)
- Data Table on Product - Market share 2024-2029 (%)

8.2 Comparison by Product
- Chart on Comparison by Product
- Data Table on Comparison by Product

8.3 Air-to-water - Market size and forecast 2024-2029
- Chart on Air-to-water - Market size and forecast 2024-2029 ($ million)
- Data Table on Air-to-water - Market size and forecast 2024-2029 ($ million)
- Chart on Air-to-water - Year-over-year growth 2024-2029 (%)
- Data Table on Air-to-water - Year-over-year growth 2024-2029 (%)

8.4 Air-to-air - Market size and forecast 2024-2029
- Chart on Air-to-air - Market size and forecast 2024-2029 ($ million)
- Data Table on Air-to-air - Market size and forecast 2024-2029 ($ million)
- Chart on Air-to-air - Year-over-year growth 2024-2029 (%)
- Data Table on Air-to-air - Year-over-year growth 2024-2029 (%)

8.5 Market opportunity by Product
- Market opportunity by Product ($ million)
- Data Table on Market opportunity by Product ($ million)

9 Market Segmentation by Application

9.1 Market segments
- Chart on Application - Market share 2024-2029 (%)
- Data Table on Application - Market share 2024-2029 (%)

9.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application

9.3 Residential - Market size and forecast 2024-2029
- Chart on Residential - Market size and forecast 2024-2029 ($ million)
- Data Table on Residential - Market size and forecast 2024-2029 ($ million)
- Chart on Residential - Year-over-year growth 2024-2029 (%)
- Data Table on Residential - Year-over-year growth 2024-2029 (%)

9.4 Industrial - Market size and forecast 2024-2029
- Chart on Industrial - Market size and forecast 2024-2029 ($ million)
- Data Table on Industrial - Market size and forecast 2024-2029 ($ million)
- Chart on Industrial - Year-over-year growth 2024-2029 (%)
- Data Table on Industrial - Year-over-year growth 2024-2029 (%)

9.5 Commercial - Market size and forecast 2024-2029
- Chart on Commercial - Market size and forecast 2024-2029 ($ million)
- Data Table on Commercial - Market size and forecast 2024-2029 ($ million)
- Chart on Commercial - Year-over-year growth 2024-2029 (%)
- Data Table on Commercial - Year-over-year growth 2024-2029 (%)

9.6 Market opportunity by Application
- Market opportunity by Application ($ million)
- Data Table on Market opportunity by Application ($ million)

10 Market Segmentation by Type

10.1 Market segments
- Chart on Type - Market share 2024-2029 (%)
- Data Table on Type - Market share 2024-2029 (%)

10.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type

10.3 Ductless - Market size and forecast 2024-2029
- Chart on Ductless - Market size and forecast 2024-2029 ($ million)
- Data Table on Ductless - Market size and forecast 2024-2029 ($ million)
- Chart on Ductless - Year-over-year growth 2024-2029 (%)
- Data Table on Ductless - Year-over-year growth 2024-2029 (%)

10.4 Ducted - Market size and forecast 2024-2029
- Chart on Ducted - Market size and forecast 2024-2029 ($ million)
- Data Table on Ducted - Market size and forecast 2024-2029 ($ million)
- Chart on Ducted - Year-over-year growth 2024-2029 (%)
- Data Table on Ducted - Year-over-year growth 2024-2029 (%)

10.5 Short run ducted - Market size and forecast 2024-2029
- Chart on Short run ducted - Market size and forecast 2024-2029 ($ million)
- Data Table on Short run ducted - Market size and forecast 2024-2029 ($ million)
- Chart on Short run ducted - Year-over-year growth 2024-2029 (%)
- Data Table on Short run ducted - Year-over-year growth 2024-2029 (%)

10.6 Market opportunity by Type
- Market opportunity by Type ($ million)
- Data Table on Market opportunity by Type ($ million)

11 Customer Landscape

11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

12 Geographic Landscape

12.1 Geographic segmentation
- Chart on Market share by geography 2024-2029 (%)
- Data Table on Market share by geography 2024-2029 (%)

12.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison

12.3 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ million)
- Data Table on North America - Market size and forecast 2024-2029 ($ million)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)

12.4 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ million)
- Data Table on Europe - Market size and forecast 2024-2029 ($ million)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)

12.5 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ million)
- Data Table on APAC - Market size and forecast 2024-2029 ($ million)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)

12.6 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ million)
- Data Table on South America - Market size and forecast 2024-2029 ($ million)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)

12.7 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)

12.8 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ million)
- Data Table on US - Market size and forecast 2024-2029 ($ million)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)

12.9 Canada - Market size and forecast 2024-2029
- Chart on Canada - Market size and forecast 2024-2029 ($ million)
- Data Table on Canada - Market size and forecast 2024-2029 ($ million)
- Chart on Canada - Year-over-year growth 2024-2029 (%)
- Data Table on Canada - Year-over-year growth 2024-2029 (%)

12.10 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ million)
- Data Table on China - Market size and forecast 2024-2029 ($ million)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)

12.11 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ million)
- Data Table on UK - Market size and forecast 2024-2029 ($ million)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)

12.12 Germany - Market size and forecast 2024-2029
- Chart on Germany - Market size and forecast 2024-2029 ($ million)
- Data Table on Germany - Market size and forecast 2024-2029 ($ million)
- Chart on Germany - Year-over-year growth 2024-2029 (%)
- Data Table on Germany - Year-over-year growth 2024-2029 (%)

12.13 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ million)
- Data Table on Japan - Market size and forecast 2024-2029 ($ million)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)

12.14 France - Market size and forecast 2024-2029
- Chart on France - Market size and forecast 2024-2029 ($ million)
- Data Table on France - Market size and forecast 2024-2029 ($ million)
- Chart on France - Year-over-year growth 2024-2029 (%)
- Data Table on France - Year-over-year growth 2024-2029 (%)

12.15 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ million)
- Data Table on India - Market size and forecast 2024-2029 ($ million)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)

12.16 South Korea - Market size and forecast 2024-2029
- Chart on South Korea - Market size and forecast 2024-2029 ($ million)
- Data Table on South Korea - Market size and forecast 2024-2029 ($ million)
- Chart on South Korea - Year-over-year growth 2024-2029 (%)
- Data Table on South Korea - Year-over-year growth 2024-2029 (%)

12.17 Italy - Market size and forecast 2024-2029
- Chart on Italy - Market size and forecast 2024-2029 ($ million)
- Data Table on Italy - Market size and forecast 2024-2029 ($ million)
- Chart on Italy - Year-over-year growth 2024-2029 (%)
- Data Table on Italy - Year-over-year growth 2024-2029 (%)

12.18 Market opportunity by geography
- Market opportunity by geography ($ million)
- Data Tables on Market opportunity by geography ($ million)

13 Drivers, Challenges, and Opportunity/Restraints

13.1 Market drivers

13.2 Market challenges

13.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029

13.4 Market opportunities/restraints

14 Competitive Landscape

14.1 Overview

14.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation

14.3 Landscape disruption
- Overview on factors of disruption

14.4 Industry risks
- Impact of key risks on business

15 Competitive Analysis

15.1 Companies profiled
- Companies covered

15.2 Company ranking index
- Company ranking index

15.3 Market positioning of companies
- Matrix on companies position and classification

15.4 A. O. Smith India Water Products Pvt. Ltd.
- A. O. Smith India Water Products Pvt. Ltd. - Overview
- A. O. Smith India Water Products Pvt. Ltd. - Product / Service
- A. O. Smith India Water Products Pvt. Ltd. - Key offerings
- SWOT

15.5 Alibaba Group Holding Ltd.
- Alibaba Group Holding Ltd. - Overview
- Alibaba Group Holding Ltd. - Business segments
- Alibaba Group Holding Ltd. - Key news
- Alibaba Group Holding Ltd. - Key offerings
- Alibaba Group Holding Ltd. - Segment focus
- SWOT

15.6 Ariston Holding NV
- Ariston Holding NV - Overview
- Ariston Holding NV - Product / Service
- Ariston Holding NV - Key news
- Ariston Holding NV - Key offerings
- SWOT

15.7 BDR Thermea Group
- BDR Thermea Group - Overview
- BDR Thermea Group - Product / Service
- BDR Thermea Group - Key offerings
- SWOT

15.8 Carrier Global Corp.
- Carrier Global Corp. - Overview
- Carrier Global Corp. - Business segments
- Carrier Global Corp. - Key news
- Carrier Global Corp. - Key offerings
- Carrier Global Corp. - Segment focus
- SWOT

15.9 Colmac Industries Inc.
- Colmac Industries Inc. - Overview
- Colmac Industries Inc. - Product / Service
- Colmac Industries Inc. - Key offerings
- SWOT

15.10 Daikin Industries Ltd.
- Daikin Industries Ltd. - Overview
- Daikin Industries Ltd. - Business segments
- Daikin Industries Ltd. - Key news
- Daikin Industries Ltd. - Key offerings
- Daikin Industries Ltd. - Segment focus
- SWOT

15.11 Danfoss AS
- Danfoss AS - Overview
- Danfoss AS - Product / Service
- Danfoss AS - Key offerings
- SWOT

15.12 Emerson Electric Co.
- Emerson Electric Co. - Overview
- Emerson Electric Co. - Business segments
- Emerson Electric Co. - Key news
- Emerson Electric Co. - Key offerings
- Emerson Electric Co. - Segment focus
- SWOT

15.13 Glen Dimplex Group.
- Glen Dimplex Group. - Overview
- Glen Dimplex Group. - Product / Service
- Glen Dimplex Group. - Key offerings
- SWOT

15.14 Groupe Airwell
- Groupe Airwell - Overview
- Groupe Airwell - Product / Service
- Groupe Airwell - Key offerings
- SWOT

15.15 Jaquar India
- Jaquar India - Overview
- Jaquar India - Product / Service
- Jaquar India - Key offerings
- SWOT

15.16 Mitsubishi Electric Corp.
- Mitsubishi Electric Corp. - Overview
- Mitsubishi Electric Corp. - Business segments
- Mitsubishi Electric Corp. - Key offerings
- Mitsubishi Electric Corp. - Segment focus
- SWOT

15.17 NIBE Industrier AB
- NIBE Industrier AB - Overview
- NIBE Industrier AB - Business segments
- NIBE Industrier AB - Key news
- NIBE Industrier AB - Key offerings
- NIBE Industrier AB - Segment focus
- SWOT

15.18 Robert Bosch GmbH
- Robert Bosch GmbH - Overview
- Robert Bosch GmbH - Product / Service
- Robert Bosch GmbH - Key news
- Robert Bosch GmbH - Key offerings
- SWOT

16 Appendix

16.1 Scope of the report

16.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist

16.3 Currency conversion rates for US$
- Currency conversion rates for US$

16.4 Research methodology
- Research methodology

16.5 Data procurement
- Information sources

16.6 Data validation
- Data validation

16.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing

16.8 Data synthesis
- Data synthesis

16.9 360 degree market analysis
- 360 degree market analysis

16.10 List of abbreviations
- List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES