United States Air Source Heat Pump Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028
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?Lower Energy Costs, Longer Lifetime, and Less Impact on Environment Drive the Air Source Heat Pump Market in the United States.
According to TechSci Research report,?“United States Air Source Heat Pump Market”- By Region, Competition Forecast and Opportunities, 2018-2028F”.?The United States air source heat pump market is expected to grow exponentially at an impressive CAGR. The market is driven by increasing government initiatives, improved demand for energy-efficient heating, and low running cost.
An effective heating and cooling system, air source heat pumps can produce one to three times as much heat as they need. They are more efficient because they can move or transfer heat from the air as opposed to conventional systems, which must convert it from a fuel source.
Except for areas that experienced prolonged periods of subfreezing weather, almost all regions of the United States have used air-source heat pumps for many years. However, air-source heat pump technology has improved recently to the point where it now presents a reliable alternative to traditional space heating in colder climates.
Due to the mild weather in southern U.S., the houses, don't require extensive heating capacity, due to which air-source heat pumps have been used there broadly. However, because of technological advancements, heat pump units may compete well with electric resistance, gas, and oil furnace heat systems. An air source heat pump can operate independently or with the addition of a gas furnace unit. As a result of the system taking on some of the heating load, the backup furnace system uses less energy overall, which improves the home's efficiency and lowers energy bills.
According to a study by the Northeast Energy Efficiency Partnerships, installing units made for colder climates in the Northeast and Mid-Atlantic regions can result in annual savings of about 3,000 kWh or USD 459 compared to electric resistance heaters and 6,200 kWh or USD 948 when compared to oil systems. The average yearly savings when replacing oil or operating the oil system less frequently, is close to 3,000 kWh, or almost USD 300.
In terms of air-to-air heat pumps, the market is divided into ducted heat pumps and ductless heat pumps.?A ducted air source heat pump has a system of air ducts and vents that circulate conditioned air around the building and return it to the system. Duct systems are typically used in newly constructed homes or to repair out-of-date appliances in homes that already have a duct system.
Since they don't need ductwork, ductless heat pump systems have a wide range of versatility. The only change required to the house is a simple three-inch hole punched in the outer wall. The fix is necessary to enable access to the wiring connecting the two components and the copper drain and suction lines. Ductless systems are excellent for applications like room extensions and garages where a separate heating or cooling system might be desired. They also provide a practical approach to enhance or add to existing heating and cooling in rooms that may need it.
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The United States air source heat pump market is segmented into process, end use, sales channel, region, and company. Based on the process, the market is segmented into air-to-air (ducts, ductless) and air-to-water (split, integrated). Based on end use, the market is divided into residential, hotels & resorts, gyms & spas, education, food service, and others. Based on sales channel, the market is fragmented into plumbers, dealers & contractors, retail, direct sales, online, and others. The market analysis also studies the regional segmentation divided into South, Mid-West, West, and North-East.
The air source heat pump (ASHP) uses electricity as an input to draw heat from the surrounding air and provide hot water that can reach 90 degrees Celsius. The ambient air becomes more relaxed due to the heat being removed. As a result, the demand for hot water and cold air is fueling the development of air-source heat pumps.
Additionally, as the need for air conditioners declines, heat pump suppliers will have more opportunities to expand in the market. For instance, the US shipped 4,939,663 air conditioners in September 2022, down from the 5,059,384 units shipped in September 2021, according to the Air-conditioning, Heating, and Refrigeration Institute.
Major operating companies operating in the United States Air Source Heat Pump Market are:
Companies are also doing constant innovation to give them a competitive edge. For instance, Gradient has launched a home window heat pump for 2021 that uses a climate-friendly refrigerant that may be propane (R290) and helps cut greenhouse gas emissions by 75% compared to conventional systems to provide heating and cooling throughout the year.
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“The use of heat pumps has many advantages. Compared to a gas or electric heating system, an air-source heat pump can help consumers save money on energy costs and lessen their carbon impact. The adaptability and affordability of air-source heat pumps are two of their main benefits. An ASHP (Air Source Heat Pump) can be used for space heating or water heating and can function for heating and cooling. These benefits of air-source heat pumps are driving the market and causing it to expand throughout the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
United States Air Source Heat Pump Market By Process (Air to Air (Ducts, Ductless), Air to Water (Split, Integrated)) By End Use (Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.)), By Sales Channel (Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and Others (Distributors, Builders, etc.)), By Region, By Company, Forecast & Opportunities, 2018-2028F,?has evaluated the future growth potential of the United States air source heat pump market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the air source heat pump market in the United States.
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