Report Description Table of Contents The Heat pump compressor market in 2023 was worth USD 14.2 billion and is expected to be worth USD 40.22 billion by 2030, expanding at a CAGR of 13.9% during the forecast period. Heat pump compressor is an essential piece of equipment used in heat pump systems to compress the refrigerant and thus increase its temperature and pressure so as to efficiently transfer heat for both heating and cooling. The heat pump compressor market is mainly stimulated by the increasing need for efficient heating and cooling systems, especially in the residential and commercial sectors. For instance, while heating pumps may consume up to 300 percent more electricity compared to conventional systems, their efficiency in moving heat is much higher and hence saves on energy. As the world aims to cut down carbon emissions, countries in Europe and North America also provide subsidies for heat pumps, driving the market. In 2023, the European Union saw a 50% uptick in the use of heat pumps, demonstrating the transition to green energy sources. New innovation includes the incorporation of new high-speed compressors, which facilitate efficiency and performance irrespective of the climate, thus making heat pumps possible options in cold areas. The global heat pump compressor market has vast prospects due to the rising potential for sustainable electricity and the drive for decarbonization. For instance, according to the International Energy Agency (IEA), more than 90% of the global heating demand and water heating could be met using heat pumps by 2050, leading to cutting of up to 3 gigatons of CO2 emissions annually. In China and Japan, air-source heat pumps have continuously increased in residential and industrial applications due to subsidies and high energy standards. Recently, advancements in inverter-driven compressors have allowed heat pumps to operate efficiently across a wider range of temperatures, opening new markets in regions with extreme climates and contributing to their increasing popularity as a sustainable heating and cooling solution. Market Segmentation By Compressor Type: Scroll Compressors Rotary Compressors Reciprocating Compressors Screw Compressors Centrifugal Compressors By Heat Pump Type: Air Source Heat Pumps Ground Source Heat Pumps Water Source Heat Pumps Hybrid Heat Pumps By Application: Residential Commercial Industrial Institutional By Capacity: Below 10 kW 10-20 kW 20-30 kW Above 30 kW By Technology: Inverter Compressors Non-Inverter Compressors By End-Use: Space Heating Water Heating Cooling Industrial Processes 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 Europe is the largest market for heat pump compressors due to increased environmental concerns and high incentives towards the use of renewable power sources. For instance, Europe alone consumed almost 40% of the global heat pumps in 2022, and the top Heat Pump consuming countries were Germany, France, and Sweden. Efficient compressors used in heat pumps have been boosted through the European Union’s Green Deal, which seeks to achieve a 55% reduction in greenhouse gas emissions by 2030. Recent developments include the European Union's initiatives to promote fire safety in public buildings, particularly in healthcare and educational facilities, boosting the demand for advanced fire doors and partitions with integrated safety features like smoke control and thermal insulation. Key Players Daikin Industries, Ltd. Mitsubishi Electric Corporation Panasonic Corporation Carrier Global Corporation Danfoss A/S Emerson Electric Co. Fujitsu General Limited LG Electronics Inc. Samsung Electronics Co., Ltd. Hitachi, Ltd. Frequently Asked Question About This Report . Table of Contents 1. HEAT PUMP COMPRESSOR 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 COMPRESSOR MARKET – REVENUE ($MILLION), BY REGION, (2024 – 2030) 2.1. North America 2.2. Europe 2.3. Asia Pacific 2.4. Latin America 2.5. Middle East & Africa 3. MARKET SHARE ANALYSIS – HEAT PUMP COMPRESSOR MARKET 3.1. Top 20 Players with Product Mix, Revenue, and Sales Volume 3.2. Market Share, 2023 3.3. Market By Compressor Type and End Use Outlook Analysis 4. HISTORIC TRENDS IN HEAT PUMP COMPRESSOR MARKET 5. EMERGING MARKET TRENDS 6. NORTH AMERICA HEAT PUMP COMPRESSOR MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 6.1. North America Heat Pump Compressor Historical Market ($MILLION), (2017 – 2023) 6.2. North America Heat Pump Compressor Market ($MILLION) and Forecasts (2024 – 2030) 6.3. North America Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Compressor Type 6.3.1. Scroll Compressors 6.3.2. Rotary Compressors 6.3.3. Reciprocating Compressors 6.3.4. Screw Compressors 6.3.5. Centrifugal Compressors 6.4. North America Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 6.4.1. Residential 6.4.2. Commercial 6.4.3. Industrial 6.4.4. Institutional 6.5. North America Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 6.5.1. Inverter Compressors 6.5.2. Non-Inverter Compressors 6.6. North America Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 6.6.1. Space Heating 6.6.2. Water Heating 6.6.3. Cooling 6.6.4. Industrial Processes 6.7. North America Heat Pump Compressor Market Type ($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 COMPRESSOR MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8. EUROPE HEAT PUMP COMPRESSOR MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8.1. Europe Heat Pump Compressor Historical Market ($MILLION), (2017 – 2023) 8.2. Europe Heat Pump Compressor Market ($MILLION) and Forecasts (2024 – 2030) 8.3. Europe Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Compressor Type 8.4. Europe Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 8.5. Europe Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 8.6. Europe Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 8.7. Europe Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 8.7.1. Germany 8.7.2. France 8.7.3. UK 8.7.4. Italy 8.7.5. Spain 8.7.6. Rest of Europe 9. APAC HEAT PUMP COMPRESSOR MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 9.1. APAC Heat Pump Compressor Historical Market ($MILLION), (2017 – 2023) 9.2. APAC Heat Pump Compressor Market ($MILLION) and Forecasts (2024 – 2030) 9.3. APAC Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Compressor Type 9.4. APAC Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 9.5. APAC Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 9.6. APAC Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 9.7. APAC Heat Pump Compressor Market Type ($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 COMPRESSOR MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 10.1. Latin America Heat Pump Compressor Historical Market ($MILLION), (2017 – 2023) 10.2. Latin America Heat Pump Compressor Market ($MILLION) and Forecasts (2024 – 2030) 10.3. Latin America Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Compressor Type 10.4. Latin America Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 10.5. Latin America Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 10.6. Latin America Heat Pump Compressor Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 10.7. Latin America Heat Pump Compressor 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. Mitsubishi Electric Corporation 11.3. Panasonic Corporation 11.4. Carrier Global Corporation 11.5. Danfoss A/S 11.6. Emerson Electric Co. 11.7. Fujitsu General Limited 11.8. OTHER MARKET PLAYERS