Heat Pump Market Share, Growth, Development and Demand Forecast to 2030

Heat pumps provide an energy-efficient alternative to air conditioners and furnaces in all the climates, such as refrigerators and heat pumps require electricity for transferring the heat from a cool space to a warm space, keeping a cool space cooler, and a warm space warmer.
In the summer season, the heat pumps transfer heat from the cool outdoors to make the house warm. The heat pumps transfer heat instead of generating heat, as heat pumps can efficiently offer comfortable temperatures for the home.

The heat pump industry has garnered $53,821.2 million revenue in 2021, and it is projected to generate $105,462.1 million, advancing at a rate of 7.8% in the coming years.

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Ducted Air-Source Heat Pumps: There are majorly three types of heat pumps connected to ducts. It includes air-to-air, geothermal, and, water sources. These pumps collect the heat from the ground, air, water, or outside the home, and focus on using it inside the home.

Air-Source Heat Pump: The air-source heat pump transfers the heat between the house and outside air.