commercial heat pump water heater market
                     
Introduction
The commercial heat pump water heater market was valued at $299.4 million in 2022, 
and is estimated to reach $608.5 million by 2032, growing at a CAGR of 7.4% from 
2023 to 2032.
heat pump water heater uses energy-efficient technology to heat water for various 
commercial applications. It operates on the same principles as a heat pump used for 
space heating & cooling but is specifically configured to heat water. 
  
In addition, rise in need for sustainable technologies from the commercial sector will 
bolster the product requirement. The majority of governments around the globe are 
implementing various policies and schemes to promote the distribution of clean 
technologies in the commercial sectors, and improving the technology perception. 
Furthermore, the 500L-1000L segment is anticipated to register a CAGR of 5.0% over 
the commercial heat pump water heater forecast period owing to rapid urbanization 
and rise in demand for commercial space.
Report Overview
Increase in construction activities during the forecast period is expected to 
contribute to the Europe commercial heat pump water heater market growth. 
Moreover, stringent emission norms & regulations will compel constructors to 
install energy-efficient and renewable technologies, which is anticipated to 
stimulate the commercial heat pump water heater market demand.   
Air source heat pump water heater is expected to dominate commercial heat 
pump water heater market during forecast period owing to the need for energy-
efficient and environmentally friendly water heating solutions in various 
industries. In addition, owing to rise in hospitality, restaurants, healthcare, 
agriculture, retail and commercial buildings, recreation and sports facilities further 
drives the demand for air source heat pump water heater.
Report Overview
Key Findings Of The Study : 
• On the basis of type, the air source segment accounts for more than four-fifths of 
the market share, in terms of revenue, in 2022.  
• On the basis of storage, the 500‒1,000 L segment accounts for more than half of the 
market share, in terms of revenue, in 2022.  
• On the basis of capacity, the above 10 kW segment accounts for more than three-
fourths of the market share, in terms of revenue, in 2022.  
• On the basis of refrigerant, the R410A segments accounts for more than two-fifths 
of the market share, in terms of revenue, in 2022. 
• Region-wise, Asia-Pacific accounts for nearly two-fifths of the market share, in terms 
of revenue, in 2022.  
Report Overview
Key Market Players:
• Viessmann Group
• Midea Group Co. Ltd.
• Daikin Industries Ltd.
• Valliant Group
• Rheem Manufacturing Company Inc.
• NIBE Energy Systems
• Ingersoll Rand
• Bosch Industries
Report Overview
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