Global Heat Pump Water Heater Market 2017-2021

Overview of the global heat pump water heater market           

Market research analysts at Technavio predict that the global heat pump water heater market will grow steadily at a CAGR of more than 11% by 2021. Geothermal heat pumps are central heating/cooling systems that either transfer heat from or to the ground. Depending on the application, these systems make use of the earth as the heat source or a sink. These heat pumps have gained widespread adoption and acceptance owing to their environmental and cost saving benefits. Moreover, initiatives from the governments of various countries are also adding to the growing demand for geothermal heat pumps. Additionally, the rising focus on the use of renewable energy to check climate change and environmental degradation will also strengthen the demand for geothermal heat pumps in the forthcoming years. According to this market research study, this rising demand for geothermal heat pumps will be one of the primary growth factors for this market.

In terms of geographic regions, EMEA will be the major revenue contributor to the heat pump water heater market throughout the forecast period. The rise in construction activities and the focus of governments in this region towards increasing the energy efficiency and reducing carbon emissions, will drive the growth of the market in this region. Additionally, the need to replace traditional systems with advanced and sustainable systems and the advancements in sensors and touchscreen interfaces that will improve the functionality of heat pumps, will also boost the growth of the market in EMEA.

Competitive landscape and key vendors  

The heat pump water heater market is characterized by the presence of several well-diversified international, regional, and local vendors and is highly-fragmented. The regional and local vendors provide customized products at comparative prices and pose a stiff competition to the international players.  However, they find it increasingly difficult to compete with the global vendors in terms of quality, features, and services. The level of competition among the market players will intensify in the coming years due to the increase in product extensions and technological innovations. The international players will also acquire regional or local players and grow inorganically during the forecast period.

The leading vendors in the market are -

• A.O.Smith
• Daikin Industries
• Danfoss
• NIBE 

The other prominent vendors in the market are alpha innotec, GE Appliances, Gree, Hangzhou Jinjiang Solar, Hayward Industries, Johnson Controls - Hitachi Air Conditioning, Zodiac Pool Solutions (Jandy), Midea, MTechnologysubishi Electric, New Energy, Panasonic, Pentair, STIEBEL ELTRON, Technologyomic, Thermia, Tongyi, Toshiba, Viessmann, and Zhongrui.

Segmentation by type and analysis of the heat pump water heater market

• Air-to-water
• Ground source heat pumps (GHSP)

During 2016, the air-to-water heat pumps segment accounted for the major shares of the heat pump water heater market. The growing popularity of the air-to-water split systems in several regions across the globe, especially Europe, will be a major factor driving the market's growth prospects in this segment.

Segmentation by end-user and analysis of the heat pump water heater market

• Residential
• Non-residential

According to this market research report, the residential sector accounted for the maximum shares of the heat pump water heater market during 2016. The growing population and the rise in urbanization around the globe will propel the growth of the market in this end-user segment. Furthermore, the rise in residential construction in countries such as China, India, and Indonesia and the growth of the housing sector in the US, will also fuel the market's growth prospects in the residential sector.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global heat pump water heater market?
• What are the key market trends impacting the growth of the global heat pump water heater market?
• What are the challenges to market growth?
• Who are the key vendors in the global heat pump water heater market?
• What are the market opportunities and threats faced by the vendors in the global heat pump water heater market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global heat pump water heater market?

Technavio also offers customization on reports based on specific client requirement.

Heat pump water heaters are expected to grow in the coming years due to the rising preference of consumers towards more energy efficient and environment-friendly products. This upcoming industry research report by Technavio is a crucial part of the heavy industry and offers insights into quick-growth markets like construction and unit operations. With an aim to enable clients to gain a healthy edge over their peers, Technavio presents substantial information on the demand-supply shifts and also renders a list of all leading vendors in the heavy industry.

Technavio's market research experts conform to a complete research approach of primary and secondary data and also conduct a widespread study of various factors such as developing technologies and the demand for products spanning globally. To help clients design new procedures for growth, our upcoming industry research report on the global heat pump water heater market for the period of 2017 to 2021 reveals applicable insights sketched from the data gathered from reliable sources of intelligence, such as manufacturers, suppliers, regulatory bodies, and decision makers. Technavio also offers customized reports for clients based on their specifications.

This upcoming industry research report on the global heat pump water heater market also considers the growth of related markets such as hydraulic pumps, which is expected to grow at a CAGR of 5% by 2021. The upcoming industry research report on the global heat pump water heater market showcases the market drivers, trends, and setbacks experienced by thekey players in the heavy industry sector.