Report Description Table of Contents The heat pump coil market was worth USD 5.8 billion in 2023 and will be worth USD 8.2 billion by 2030, growing at a CAGR of 5.0% during the forecast period. Heat Pump Coil market is majorly driven due to rising demand for energy-efficient heat pump systems in residential and commercial applications. Governments worldwide are increasingly advocating for lower carbon emissions through heat pumps that consume up to 60% less energy than more conventional heating and cooling systems. For instance, Europe has put pressure on energy efficiency targets, and heating pump adoption has been rising by 10-15% per year in Germany and Sweden. A recent development includes the introduction of advanced heat pump coils with corrosion-resistant materials, improving the durability and lifespan of heat pumps, particularly in harsh environments. Companies are also integrating smart technologies into these systems, allowing optimized energy use and improved performance through IoT-enabled devices, further fueling market growth. A significant opportunity in the Heat Pump Coil market lies in the growing focus on renewable energy and government incentives for energy-efficient heating systems. Heat pump installations are expected to have grown by 15% in Europe alone by 2023, resulting from policies and measures that encourage cutting carbon emissions and enhancing energy efficiency. The market is also observing opportunities in retrofit heat pump systems at older buildings, above all low temperature systems, which need innovative coil technology for optimum efficiency. One of the recent innovations includes increasing the use of improved materials such as aluminum alloys in the construction of the heat pump coils since they are the conductor of heat, light in weight, and have less tendency to rust. This has led to enhanced usage of heat pumps in the colder areas, especially in Northern Europe and North America. Market Segmentation By Type: Evaporator Coils Condenser Coils Reversing Coils By Material: Copper Aluminum Stainless Steel Others (e.g., alloys, composites) By Application: Residential Buildings Commercial Buildings Industrial Buildings By Technology: Air Source Heat Pumps Ground Source Heat Pumps Water Source Heat Pumps Hybrid Heat Pumps By Region North America US Mexico Canada Rest of North America Europe Switzerland Russia France Germany U.K Finland Turkey Netherlands Belgium Spain Italy Rest of Europe Asia Pacific India China South Korea Japan Singapore Thailand Indonesia Malaysia Philippines Australia Rest of Asia-Pacific LAMEA Brazil Argentina Uruguay Saudi Arabia Rest of LAMEA The European market continues to dominate the Heat Pump Coil market due to government support measures aimed at improving the energy efficiency of premises and ranging transition to heat pump systems. Heat pump ownership in Europe reached a total of 6 million in the year 2023, with major countries being Germany, Sweden, and France. The European Union aims to reduce CO2 emissions by 55% by 2030, resulting in the promotion of the installation of energy-efficient heat pumps, making Europe a potentially large market for advanced coil technologies. One of the latest trends involves using durable aluminum coils in heat pump units to improve energy efficiency and weather endurance. For instance, heat pumps that are increasingly replacing conventional heating systems in Northern Europe have been the target of such efforts as the enhancement of the efficiency of coils for cold climate conditions cements the region’s position in this market. Key Players Daikin Industries, Ltd. Carrier Corporation Mitsubishi Electric Corporation Trane Technologies Lennox International Inc. Johnson Controls International Bosch Thermotechnology Rheem Manufacturing Company Goodman Manufacturing Modine Manufacturing Company Frequently Asked Question About This Report . Table of Contents 1. HEAT PUMP COIL MARKET – PRODUCTION VOLUME BY REGION, (2024 – 2030) 1.1. North America 1.2. Europe 1.3. Asia Pacific 1.4. Latin America 1.5. Middle East & Africa 2. HEAT PUMP COIL MARKET – REVENUE ($MILLION), BY REGION, (2024 – 2030) 2.1. North America 2.2. Europe 2.3. Asia Pacific 2.4. Latin America 2.5. Middle East & Africa 3. MARKET SHARE ANALYSIS – HEAT PUMP COIL MARKET 3.1. Top 20 Players with Product Mix, Revenue, and Sales Volume 3.2. Market Share, 2023 3.3. Market By Type of HEAT PUMP COIL and End Use Outlook Analysis 4. HISTORIC TRENDS IN HEAT PUMP COIL MARKET 5. EMERGING MARKET TRENDS 6. NORTH AMERICA HEAT PUMP COIL MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 6.1. North America HEAT PUMP COIL Historical Market ($MILLION), (2017 – 2023) 6.2. North America HEAT PUMP COIL Market ($MILLION) and Forecasts (2024 – 2030) 6.3. North America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 6.3.1. Evaporator Coils 6.3.2. Condenser Coils 6.3.3. Reversing Coils 6.4. North America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Material 6.4.1. Copper 6.4.2. Aluminum 6.4.3. Stainless Steel 6.4.4. Others (e.g., alloys, composites) 6.5. North America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 6.5.1. Residential Buildings 6.5.2. Commercial Buildings 6.5.3. Industrial Buildings 6.6. North America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 6.6.1. Air Source Heat Pumps 6.6.2. Ground Source Heat Pumps 6.6.3. Water Source Heat Pumps 6.6.4. Hybrid Heat Pumps 6.7. North America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 6.7.1. USA 6.7.2. Canada 6.7.3. Rest of North America 7. USA HEAT PUMP COIL MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8. EUROPE HEAT PUMP COIL MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8.1. Europe HEAT PUMP COIL Historical Market ($MILLION), (2017 – 2023) 8.2. Europe HEAT PUMP COIL Market ($MILLION) and Forecasts (2024 – 2030) 8.3. Europe HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 8.4. Europe HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Material 8.5. Europe HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 8.6. Europe HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 8.7. Europe HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 8.7.1. Germany 8.7.2. France 8.7.3. UK 8.7.4. Italy 8.7.5. Spain 8.7.6. Rest of Europe 9. APAC HEAT PUMP COIL MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 9.1. APAC HEAT PUMP COIL Historical Market ($MILLION), (2017 – 2023) 9.2. APAC HEAT PUMP COIL Market ($MILLION) and Forecasts (2024 – 2030) 9.3. APAC HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 9.4. APAC HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Material 9.5. APAC HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 9.6. APAC HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 9.7. APAC HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 9.7.1. China 9.7.2. Japan 9.7.3. South Korea 9.7.4. India 9.7.5. Australia 9.7.6. Rest of APAC 10. LATIN AMERICA HEAT PUMP COIL MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 10.1. Latin America HEAT PUMP COIL Historical Market ($MILLION), (2017 – 2023) 10.2. Latin America HEAT PUMP COIL Market ($MILLION) and Forecasts (2024 – 2030) 10.3. Latin America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 10.4. Latin America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Material 10.5. Latin America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 10.6. Latin America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 10.7. Latin America HEAT PUMP COIL Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 10.7.1. Brazil 10.7.2. Argentina 10.7.3. Rest of Latin America 11. COMPANY PROFILES: 11.1. Daikin Industries, Ltd. 11.1.1. Company Overview 11.1.2. Company Snapshot 11.1.3. Operating business segments 11.1.4. Product offered and Revenue 11.1.5. Production & Sales 11.2. Carrier Corporation 11.3. Mitsubishi Electric Corporation 11.4. Trane Technologies 11.5. Lennox International Inc. 11.6. Johnson Controls International 11.7. Bosch Thermotechnology 11.8. Rheem Manufacturing Company 11.9. OTHER MARKET PLAYERS