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Research Details
Published: 25-02-2025
Category:Sustainability & Smart Cities
Regions & Countries:
  • North America
    • US
    • Canada
  • Latin America
    • Argentina
    • Brazil
    • Chile
    • Colombia
    • Ecuador
    • Mexico
    • Peru
    • Uruguay
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Key Statistics

$84bn

Heat pump hardware revenue globally in 2025

$142bn

Heat pump hardware revenue globally in 2029

69%

2025 to 2029 market growth

2025-2029

Forecast period

Overview

Our Heat Pump market research suite provides detailed analysis of this emerging market; allowing sustainable heating solution providers to gain an understanding of key trends and challenges, potential growth opportunities, and the competitive environment.

Providing multiple options that can be purchased separately, the research suite includes access to data mapping the future growth of the heat pump market, and an in-depth written study. This study reveals the latest opportunities and trends within the market, containing an extensive analysis of 14 leading heat pump providers within the space. Aspects such as the different technologies involved, the demands of different sectors, and the driving and challenging factors affecting heat pump adoption are explored throughout the report.

Collectively, these elements provide an effective tool for understanding this evolving market; allowing heat pump vendors to set out their future strategies to provide effective and efficient heating and cooling solutions to their customers. Its unparalleled coverage makes this research suite an incredibly useful resource for gauging the future of this complex market.

All report content is delivered in the English language.

Key Features
  • Market Dynamics: Insights into key sustainable heating trends and market expansion challenges within the heat pump market. It addresses challenges posed by upfront costs, existing government grants and schemes, and analyses the applications of different heat pumps in different sectors. The research also provides a future outlook on the landscape of heat pump systems and their applications.
  • Key Takeaways & Strategic Recommendations: In-depth analysis of key development opportunities and findings within this market, accompanied by key strategic recommendations for heat pump providers on emerging trends and how the market is expected to evolve.
  • Benchmark Industry Forecasts: The forecasts for the heat pump market include total revenue, number of instalments, and total amount of energy saved via heat pump deployment. This dataset not only provides a global market view, but is also split between key verticals, including:
    • Residential Heat Pumps
    • Commercial/Industrial Heat Pumps
    • Electric Vehicle Heat Pumps

The forecasts include data on heat pumps in residential and business applications, split by air-source, water-source, and ground-source heat pumps. Furthermore, it provides an insight into heat pump adoption in electric vehicles.

  • Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 14 heat pump vendors, via the Juniper Research Competitor Leaderboard. The list of vendors profiled comprises:
    • Carrier
    • Daikin
    • Grant
    • Hitachi
    • Lennox
    • LG
    • Mitsubishi
    • NIBE
    • Panasonic
    • Samsung
    • Stiebel Eltron
    • Trane
    • Vaillant
    • Worcester Bosch

Market Data & Forecasts

The market-leading research suite for the Heat Pump market includes access to the full set of forecast data, consisting of 61 tables and over 27,000 datapoints. Metrics in the research suite include:

  • Total Number of Heat Pumps Installed
  • Total Spend on Heat Pumps, Including Electric Vehicles (EVs)
  • Total Energy Saved via Heat Pumps

These metrics are provided for the following key market verticals:

  • Residential Heat Pumps
  • Air-source Heat Pumps
  • Ground-source Heat Pumps
  • Water-source Heat Pumps
  • Business Heat Pumps
  • Air-source Heat Pumps
  • Ground-source Heat Pumps
  • Water-source Heat Pumps
  • EV Heat Pumps

The Juniper Research Interactive Forecast Excel contains the following functionality:

  • Statistics Analysis: Users benefit from the ability to search for specific metrics, displayed for all regions and countries across the data period. Graphs are easily modified and can be exported to the clipboard.
  • Country Data Tool: This tool lets the user look at metrics for all regions and countries in the forecast period. Users can refine the metrics displayed via the search bar.
  • Country Comparison Tool: Users can select countries and compare each of them. The ability to export graphs is included in this tool.
  • What-if Analysis: Here, users can compare forecast metrics against their own assumptions. 5 interactive scenarios.

Research Deliverables

Market Trends & Forecasts PDF Report

Deliverable type
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A comprehensive analysis of the current market landscape, alongside strategic recommendations and a walk-through of the forecasts.

Interactive Forecast Excel

Deliverable type
Deliverable Image

Full 5-year forecasts for every available market metric provided in Excel format, with interactive 'What If' and scenario tools.

harvest Online Data Platform

Deliverable type
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Access the very latest data in our exclusive online data platform, harvest. All the data from Excel, with frequent updates and a more user-friendly interface.

Why Choose Juniper Research

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Enterprise Licencing

Our research comes with an enterprise-wide licence as standard, so no need to worry about seat restrictions - your entire team can benefit from our expert insights.

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Outstanding Value

Make your budget stretch further as our research represents unrivalled value, with detailed written analysis and comprehensive 5-year forecasts included as standard with all of our data reports.

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Expert Insight

With over 20 years of experience, our forecast database and research methodologies are well-established and trusted by market-leading organisations around the world.

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Dedicated Support

Our team are ready to assist, whether you need to know more about a report before you buy, or you want to understand how we've arrived at our conclusions, just send us an email or pick up the phone.

Pricing

We accept payment online by card, or by invoice, bank transfer or purchase order.

All of our prices are in £GBP, and this will be reflected in your basket on checkout. Other currencies are provided as an indicative price only based on current exchange rates.

If you wish to be invoiced in another currency, then please proceed with the order in £GBP, select 'Pay by Invoice' and then email our team to request an updated invoice in your preferred currency: info@juniperresearch.com.

Full Research Suite

£3,250
$4,355
€3,835

Full Research Suite comprises of:

  • Benefit tick iconMarket outlook & trends analysis
  • Benefit tick iconInterviews & case studies
  • Benefit tick iconStrategic recommendations
  • Benefit tick iconCompetitor Leaderboard with 14 vendors ranked
  • Benefit tick iconVendor profiles & capabilities analysis
  • Benefit tick icon5-year forecasts
  • Benefit tick icon8 regions and 60 country-level data splits
  • Benefit tick iconMarket segment data splits
  • Benefit tick icon12 months of continuous data updates

Full Research Suite

£3,250
$4,355
€3,835

Full Research Suite comprises of:

  • Benefit tick iconMarket outlook & trends analysis
  • Benefit tick iconInterviews & case studies
  • Benefit tick iconStrategic recommendations
  • Benefit tick iconCompetitor Leaderboard with 14 vendors ranked
  • Benefit tick iconVendor profiles & capabilities analysis
  • Benefit tick icon5-year forecasts
  • Benefit tick icon8 regions and 60 country-level data splits
  • Benefit tick iconMarket segment data splits
  • Benefit tick icon12 months of continuous data updates
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