CHICAGO, Oct. 4, 2023 /PRNewswire/ -- According to Arizton's latest research report, the global pool heat pump market growing at a CAGR of 5.25% during 2022-2028.
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Browse In-Depth TOC on the Pool Heat Pump Market
123 – Tables
180 – Charts
411 – Pages
Technological innovations alongside the sustainable development index have driven significant changes in the HVAC industry, which has enabled the substantial growth of the global pool heat pump market in recent years. Thus, in a digitalized future with stringent climate policies, the electrification of energy services can stimulate the demand for heat pumps.
Despite premium pricing, the demand for the construction of swimming pools in the residential and commercial sectors is on the rise in developed countries such as the US. The surge in swimming pool construction would propel the demand for pool heat pumps. The considerably high demand for pool heat pumps worldwide can be attributed to the substantial disposable incomes of working individuals.
Moreover, the increase in hotel construction projects will accelerate the demand for commercial, residential, and leisure facilities across several developing countries. The rise in the number of hotel construction projects will enable the growth of the tourism sector in APAC. Therefore, the surge in commercial construction activities will fuel the demand for pool heat pumps and drive the development of the global pool heat pumps market in the upcoming years.
Pool Heat Pump Market Report Scope
Report Attributes | Details |
Market Size (2028) | USD 2.85 Billion |
Market Size (2022) | USD 2.10 Billion |
CAGR (2022-2028) | 5.25 % |
Market Size - Shipments (2028) | 1,140.65 thousand units |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | Product Type, Capacity, End-user, Residential, Commercial, and Geography |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Market Dynamics |
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>20KW Capacity Pool Heat Pump Market to Hold the Largest Share in the Global Pool Heat Pump Market
The >20KW pool heat pump is a heavy-duty heat pump preferred for large-scale end-use purposes. These pool heat pumps are ideal for commercial spaces with a surface area that exceeds 500 square feet and a capacity of over 30,000 gallons. Owing to the heavy application, they tend to be more expensive than the low-powered heat pumps that use high power. Thus, most vendors focus on hybrid versions to promote operational efficiency.
It is recommended for vendors to offer heat pumps in segments that are suitable for renovated and newly constructed commercial pools. APAC is expected to pose an absolute growth of 43.61% concerning installations during the forecast period owing to the rise in renovation growth and consistent maintenance activities, especially in China and India. Accordingly, North America and Europe are expected to grow at CAGRs of 5.46% and 5.82%, respectively, in the>20kW heat pump segment.
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The Sale of Pool Heat Pump in Residential Sector to Reach 661.96 Thousand Units by 2028
The residential end-use segment has emerged as the largest market for air-source pool heat pumps in recent years. The rise in disposable income, growing urbanization, willingness for a sophisticated lifestyle, and expansion of distribution networks to cater to domestic aftersales services have led to the segment's dominance. With a lot of scope for commercial applications, the segment is booming in established APAC, Europe, and the US markets.
However, the potential of eco-friendly heat pumps is yet to be realized in the growing economies, where the penetration and awareness of heat pumps as a viable alternative is only extremely low. With a lot of innovations and user-friendly product developments for residential pool applications, the segment is likely to hold its significance in the upcoming years.
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Market Dynamics
- The Need for Energy Efficiency and Sustainability
- Favorable Government Policies and Incentives
- Growth in Swimming Pool Construction
- The Demand for Low GWP Refrigerants Solutions for Heat Pump
Key Company Profiles
- Rheem Manufacturing Company
- AquaCal
- Systemair
- Pentair
- Aldes
- Hayward Industries
- Fluidra
- Daikin
- Condeana Commercial Enterprises
- CIAT
- LG
- Panasonic
- Midea
- Carrier
- Daishiba
- Flakt Group
- Nirvana chauffe-piscine Inc
- Viessmann Group
- Guangdong PHNIX Eco-energy Solution
- Ascler
- Venus Home Appliances
- Dantherm Group
- Evo Industries Australia
- Guangzhou Sprsun New Energy Technology Development
- Madimack
- AquaPro Systems
- Gulfstream Manufacturing
- Thermeau Industries
- Avi Solar Tech
- Guangdong Fineco New Energy
- EcoTech
- Foshan MACON Cooling & Heating Energy-Saving Equipment
- Sunrain
Market Segmentation
Product Type
- Air Source
- Water/geothermal Source
Capacity
- >20kW
- 10kW – 20kW
- <10kW
End-user
- Residential
- Commercial
Residential
Commercial
- Hotels and Resorts
- Spas
- Educational Institutions
- Water Parks
- Sports Club
- Others
Geography
- North America
- The US
- Canada
- Europe
- France
- Spain
- Germany
- Italy
- The UK
- Russia
- Poland
- Norway
- APAC
- China
- South Korea
- Japan
- Australia
- India
- Singapore
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- The UAE
Key Questions Answered in the Report:
How big is the pool heat pump market?
What is the growth rate of the global pool heat pump market?
What are the growing trends in the pool heat pump market?
Which region holds the most significant global pool heat pump market share?
Who are the key players in the global pool heat pump market?
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