United States Air Source Heat Pump Market to Grow with a CAGR of 9.08% through 2030
The United States Air Source Heat Pump
market is growing rapidly, driven by rising energy efficiency standards,
environmental concerns, government incentives, and increasing adoption in
residential and commercial sectors.
According
to TechSci Research report, “United States Air Source Heat Pump Market – By
Region, Competition, Forecast & Opportunities, 2030F”, the United
States Air Source Heat Pump market stood at USD 8.15 billion in 2024 and is
anticipated to grow USD 13.69 billion by 2030 with a CAGR of 9.08% during
forecast period. The United
States air source heat pump (ASHP) market is undergoing a period of accelerated
growth, driven by the increasing demand for sustainable and energy-efficient
heating and cooling solutions. Amid growing concerns over climate change,
rising utility bills, and tightening energy regulations, air source heat pumps
have emerged as a preferred choice for both residential and commercial
applications. These systems offer the dual benefit of heating and cooling,
using electricity to transfer heat rather than generate it, resulting in
significantly higher energy efficiency compared to traditional systems like gas
furnaces or electric resistance heaters.
A major catalyst behind the market’s
momentum is the nationwide push toward decarbonization and electrification of
buildings. As the U.S. moves to reduce its reliance on fossil fuels, air source
heat pumps are playing a central role in transforming the heating and cooling
landscape. Policymakers at the federal and state levels are introducing a range
of regulations, incentives, and tax benefits aimed at encouraging the adoption
of cleaner technologies. The Inflation Reduction Act (IRA) of 2022, for instance,
provides substantial tax credits for the installation of energy-efficient HVAC
systems, including air source heat pumps. These incentives not only make heat
pumps more financially accessible but also align with the broader goals of
emissions reduction and energy efficiency.
Consumer awareness around sustainability
and energy conservation is rising rapidly. Homeowners and businesses are more
informed about the environmental impact of their choices and are increasingly
seeking solutions that reduce carbon footprints while providing long-term cost
benefits. ASHPs, which offer up to three times the energy efficiency of
conventional systems, are seen as an ideal solution for meeting both
environmental and economic goals. Moreover, the long lifespan and lower
maintenance requirements of these systems make them an attractive investment
for forward-thinking property owners.
Despite the many advantages, the ASHP
market in the U.S. still faces several challenges. Chief among them is the high
initial cost of purchase and installation. While long-term savings are
substantial, many consumers remain hesitant due to the upfront investment
required. This is especially true for homeowners with older buildings, where
retrofitting a heat pump system may involve additional costs related to
ductwork, electrical upgrades, or insulation improvements. Commercial
properties can face even higher costs due to scale and complexity. While
government incentives help offset these costs, broader affordability remains a
barrier to adoption in some segments of the market.
The growing demand for heat pumps is
also putting pressure on the supply chain and grid infrastructure. As
electrification increases across the country, utilities and policymakers must
ensure that the electrical grid can handle additional demand, especially during
peak heating and cooling periods. In regions with aging infrastructure or
limited capacity, large-scale adoption of ASHPs could strain systems without
parallel investments in modernization and smart grid technologies.
Additionally, shortages of skilled labor and specialized components can result
in longer lead times and increased installation costs.
Browse
over xx market data Figures spread through xx Pages and an in-depth TOC on
" United States Air Source Heat Pump Market”
The United States Air Source Heat Pump market is segmented
into process, end use, sales channel, and company.
Based on the sales channel, the online segment is
the fastest-growing channel in the United States air source heat pump market,
driven by the increasing digitalization of consumer purchasing behavior and the
convenience of e-commerce platforms. Consumers are increasingly researching,
comparing, and purchasing HVAC systems online, attracted by competitive
pricing, detailed product information, and user reviews. Online platforms also
enable direct interaction with manufacturers and authorized dealers,
streamlining the decision-making and installation process. As digital literacy
rises and more buyers seek contactless, time-efficient shopping experiences,
the online sales channel is witnessing rapid growth and is expected to play an
increasingly vital role in the market.
Based on the region,
the Western United States is the fastest-growing region in the air source heat
pump market, driven by strong environmental policies, aggressive
decarbonization goals, and widespread electrification initiatives. States like
California, Oregon, and Washington are leading the transition toward
energy-efficient heating and cooling solutions, supported by building codes,
rebates, and incentive programs. The region’s growing emphasis on reducing
greenhouse gas emissions, coupled with high electricity prices, makes air
source heat pumps an attractive alternative to traditional HVAC systems.
Additionally, increasing construction activity, rising awareness of sustainable
technologies, and the integration of heat pumps in net-zero homes contribute to
the region’s rapid market expansion.
Major companies
operating in United States Air Source Heat Pump market are:
- Daikin
U.S. Corporation
- Carrier
Corporation
- Rheem
Manufacturing Company
- Trane
US, Inc.
- Johnson
Controls, Inc.
- Lennox
International Inc.
- Bosch
Thermotechnology Corp.
- Emerson
Electric Co.
- GE
Appliances
- Stiebel
Eltron, Inc.
Download Free Sample Report
Customers can
also request for 10% free customization in this report.
“Technological
advancements are also contributing significantly to market growth. In the past,
ASHPs faced limitations in colder climates due to reduced efficiency at lower
temperatures. However, innovations such as inverter-driven compressors,
advanced refrigerants, and enhanced defrost cycles have significantly improved
the performance of modern systems. These improvements have expanded the viable
operating range of ASHPs, making them suitable even for colder regions of the
country. Additionally, manufacturers are focusing on integrating smart features
into their systems, such as app-based controls, programmable thermostats, and
connectivity with broader home energy management systems. These capabilities
allow users to optimize energy consumption, enhance comfort, and reduce utility
costs,” said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based 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, Others (Healthcare, Offices, etc.)), By Sales Channel (Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, Others (Distributors, Builders, etc.)), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of 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 United
States Air Source Heat Pump market.
Contact Us-
TechSci
Research LLC
420 Lexington
Avenue, Suite 300,
New York, United
States- 10170
M: +13322586602
Email: [email protected]
Website: www.techsciresearch.com