Heat Pump Water Heaters Market Report – Research, Industry Analysis Reports and Market Demands

Global Heat Pump Water Heaters Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

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Table of Content

1 Market Overview

1.1 Product Overview and Scope
1.2 Market Estimation Caveats and Base Year
1.3 Market Analysis by Type
- 1.3.1 Overview: Global Heat Pump Water Heaters Consumption Value by Type: 2020 Versus 2024 Versus 2031
- 1.3.2 Below 60L
- 1.3.3 60-80L
- 1.3.4 80-100L
- 1.3.5 100-200L
- 1.3.6 200-300L
- 1.3.7 300-400L
- 1.3.8 400-500L
- 1.3.9 Above 500L
1.4 Market Analysis by Application
- 1.4.1 Overview: Global Heat Pump Water Heaters Consumption Value by Application: 2020 Versus 2024 Versus 2031
- 1.4.2 Residential
- 1.4.3 Hotel and Apartment
- 1.4.4 Catering Service
- 1.4.5 School
- 1.4.6 Office Building
- 1.4.7 Hospital
- 1.4.8 Gym
- 1.4.9 Government
- 1.4.10 Others
1.5 Global Heat Pump Water Heaters Market Size & Forecast
- 1.5.1 Global Heat Pump Water Heaters Consumption Value (2020 & 2024 & 2031)
- 1.5.2 Global Heat Pump Water Heaters Sales Quantity (2020-2031)
- 1.5.3 Global Heat Pump Water Heaters Average Price (2020-2031)

2 Manufacturers Profiles

3 Competitive Environment: Heat Pump Water Heaters by Manufacturer

3.1 Global Heat Pump Water Heaters Sales Quantity by Manufacturer (2020-2025)
3.2 Global Heat Pump Water Heaters Revenue by Manufacturer (2020-2025)
3.3 Global Heat Pump Water Heaters Average Price by Manufacturer (2020-2025)
3.4 Market Share Analysis (2024)
- 3.4.1 Producer Shipments of Heat Pump Water Heaters by Manufacturer Revenue ($MM) and Market Share (%): 2024
- 3.4.2 Top 3 Heat Pump Water Heaters Manufacturer Market Share in 2024
- 3.4.3 Top 6 Heat Pump Water Heaters Manufacturer Market Share in 2024
3.5 Heat Pump Water Heaters Market: Overall Company Footprint Analysis
- 3.5.1 Heat Pump Water Heaters Market: Region Footprint
- 3.5.2 Heat Pump Water Heaters Market: Company Product Type Footprint
- 3.5.3 Heat Pump Water Heaters Market: Company Product Application Footprint
3.6 New Market Entrants and Barriers to Market Entry
3.7 Mergers, Acquisition, Agreements, and Collaborations

4 Consumption Analysis by Region

4.1 Global Heat Pump Water Heaters Market Size by Region
- 4.1.1 Global Heat Pump Water Heaters Sales Quantity by Region (2020-2031)
- 4.1.2 Global Heat Pump Water Heaters Consumption Value by Region (2020-2031)
- 4.1.3 Global Heat Pump Water Heaters Average Price by Region (2020-2031)
4.2 North America Heat Pump Water Heaters Consumption Value (2020-2031)
4.3 Europe Heat Pump Water Heaters Consumption Value (2020-2031)
4.4 Asia-Pacific Heat Pump Water Heaters Consumption Value (2020-2031)
4.5 South America Heat Pump Water Heaters Consumption Value (2020-2031)
4.6 Middle East & Africa Heat Pump Water Heaters Consumption Value (2020-2031)

5 Market Segment by Type

5.1 Global Heat Pump Water Heaters Sales Quantity by Type (2020-2031)
5.2 Global Heat Pump Water Heaters Consumption Value by Type (2020-2031)
5.3 Global Heat Pump Water Heaters Average Price by Type (2020-2031)

6 Market Segment by Application

6.1 Global Heat Pump Water Heaters Sales Quantity by Application (2020-2031)
6.2 Global Heat Pump Water Heaters Consumption Value by Application (2020-2031)
6.3 Global Heat Pump Water Heaters Average Price by Application (2020-2031)

7 North America

7.1 North America Heat Pump Water Heaters Sales Quantity by Type (2020-2031)
7.2 North America Heat Pump Water Heaters Sales Quantity by Application (2020-2031)
7.3 North America Heat Pump Water Heaters Market Size by Country
- 7.3.1 North America Heat Pump Water Heaters Sales Quantity by Country (2020-2031)
- 7.3.2 North America Heat Pump Water Heaters Consumption Value by Country (2020-2031)
- 7.3.3 United States Market Size and Forecast (2020-2031)
- 7.3.4 Canada Market Size and Forecast (2020-2031)
- 7.3.5 Mexico Market Size and Forecast (2020-2031)

8 Europe

8.1 Europe Heat Pump Water Heaters Sales Quantity by Type (2020-2031)
8.2 Europe Heat Pump Water Heaters Sales Quantity by Application (2020-2031)
8.3 Europe Heat Pump Water Heaters Market Size by Country
- 8.3.1 Europe Heat Pump Water Heaters Sales Quantity by Country (2020-2031)
- 8.3.2 Europe Heat Pump Water Heaters Consumption Value by Country (2020-2031)
- 8.3.3 Germany Market Size and Forecast (2020-2031)
- 8.3.4 France Market Size and Forecast (2020-2031)
- 8.3.5 United Kingdom Market Size and Forecast (2020-2031)
- 8.3.6 Russia Market Size and Forecast (2020-2031)
- 8.3.7 Italy Market Size and Forecast (2020-2031)

9 Asia-Pacific

9.1 Asia-Pacific Heat Pump Water Heaters Sales Quantity by Type (2020-2031)
9.2 Asia-Pacific Heat Pump Water Heaters Sales Quantity by Application (2020-2031)
9.3 Asia-Pacific Heat Pump Water Heaters Market Size by Region
- 9.3.1 Asia-Pacific Heat Pump Water Heaters Sales Quantity by Region (2020-2031)
- 9.3.2 Asia-Pacific Heat Pump Water Heaters Consumption Value by Region (2020-2031)
- 9.3.3 China Market Size and Forecast (2020-2031)
- 9.3.4 Japan Market Size and Forecast (2020-2031)
- 9.3.5 South Korea Market Size and Forecast (2020-2031)
- 9.3.6 India Market Size and Forecast (2020-2031)
- 9.3.7 Southeast Asia Market Size and Forecast (2020-2031)
- 9.3.8 Australia Market Size and Forecast (2020-2031)

10 South America

10.1 South America Heat Pump Water Heaters Sales Quantity by Type (2020-2031)
10.2 South America Heat Pump Water Heaters Sales Quantity by Application (2020-2031)
10.3 South America Heat Pump Water Heaters Market Size by Country
- 10.3.1 South America Heat Pump Water Heaters Sales Quantity by Country (2020-2031)
- 10.3.2 South America Heat Pump Water Heaters Consumption Value by Country (2020-2031)
- 10.3.3 Brazil Market Size and Forecast (2020-2031)
- 10.3.4 Argentina Market Size and Forecast (2020-2031)

11 Middle East & Africa

11.1 Middle East & Africa Heat Pump Water Heaters Sales Quantity by Type (2020-2031)
11.2 Middle East & Africa Heat Pump Water Heaters Sales Quantity by Application (2020-2031)
11.3 Middle East & Africa Heat Pump Water Heaters Market Size by Country
- 11.3.1 Middle East & Africa Heat Pump Water Heaters Sales Quantity by Country (2020-2031)
- 11.3.2 Middle East & Africa Heat Pump Water Heaters Consumption Value by Country (2020-2031)
- 11.3.3 Turkey Market Size and Forecast (2020-2031)
- 11.3.4 Egypt Market Size and Forecast (2020-2031)
- 11.3.5 Saudi Arabia Market Size and Forecast (2020-2031)
- 11.3.6 South Africa Market Size and Forecast (2020-2031)

12 Market Dynamics

12.1 Heat Pump Water Heaters Market Drivers
12.2 Heat Pump Water Heaters Market Restraints
12.3 Heat Pump Water Heaters Trends Analysis
12.4 Porters Five Forces Analysis
- 12.4.1 Threat of New Entrants
- 12.4.2 Bargaining Power of Suppliers
- 12.4.3 Bargaining Power of Buyers
- 12.4.4 Threat of Substitutes
- 12.4.5 Competitive Rivalry

13 Raw Material and Industry Chain

13.1 Raw Material of Heat Pump Water Heaters and Key Manufacturers
13.2 Manufacturing Costs Percentage of Heat Pump Water Heaters
13.3 Heat Pump Water Heaters Production Process
13.4 Industry Value Chain Analysis

14 Shipments by Distribution Channel

14.1 Sales Channel
- 14.1.1 Direct to End-User
- 14.1.2 Distributors
14.2 Heat Pump Water Heaters Typical Distributors
14.3 Heat Pump Water Heaters Typical Customers

15 Research Findings and Conclusion

16 Appendix

16.1 Methodology
16.2 Research Process and Data Source

Description

According to our (Global Info Research) latest study, the global Heat Pump Water Heaters market size was valued at US$ 5354 million in 2024 and is forecast to a readjusted size of USD 9888 million by 2031 with a CAGR of 8.5% during review period.
In this report, we will assess the current U.S. tariff framework alongside international policy adaptations, analyzing their effects on competitive market structures, regional economic dynamics, and supply chain resilience.
Heat Pump Water Heaters is a device which uses electricity to move heat from one place to another instead of generating heat directly. Therefore, it can be two to three times more energy efficient than conventional electric resistance water heaters. To move the heat, heat pumps work like a refrigerator in reverse.
The Heat Pump Water Heater (HPWH) market is growing due to increasing demand for energy-efficient and environmentally friendly solutions for water heating. HPWHs are known for their energy efficiency, as they transfer heat from the air into the water, making them far more energy-efficient than conventional electric water heaters or gas water heaters. Heat pump water heaters use significantly less energy than conventional electric resistance water heaters, making them an attractive option for consumers looking to reduce energy bills. Governments around the world are encouraging the adoption of energy-efficient technologies. Incentives, rebates, and tax credits for energy-efficient appliances are common in many regions, further boosting the demand for HPWHs. Regulations aimed at reducing carbon footprints and promoting sustainable practices are also contributing to the market growth, as HPWHs have a lower environmental impact compared to other heating systems. As the focus on reducing carbon emissions and combating climate change intensifies, consumers and businesses are increasingly adopting technologies that help reduce energy consumption. HPWHs, which use renewable energy from the air, align with these environmental goals. As electricity prices rise, consumers are looking for ways to reduce their electricity consumption. HPWHs offer a solution by consuming less power to produce the same amount of hot water, making them an attractive alternative in regions with high energy costs. The technology behind HPWHs continues to improve, making them more efficient and affordable. New models are more adaptable, with features like smart thermostats, noise reduction, and faster heating times, making them more appealing to a broader audience.
This report is a detailed and comprehensive analysis for global Heat Pump Water Heaters market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Heat Pump Water Heaters market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (USD/Unit), 2020-2031
Global Heat Pump Water Heaters market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (USD/Unit), 2020-2031
Global Heat Pump Water Heaters market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (USD/Unit), 2020-2031
Global Heat Pump Water Heaters market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (USD/Unit), 2020-2025
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Heat Pump Water Heaters
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Heat Pump Water Heaters market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include A. O. Smith (including State etc), Rinnai, Stiebel Eltron, Daikin, Mitsubishi Electric, Paloma (including Rheem etc), Haier, Gree, Midea, Noritz, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Heat Pump Water Heaters market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Below 60L
60-80L
80-100L
100-200L
200-300L
300-400L
400-500L
Above 500L
Market segment by Application
Residential
Hotel and Apartment
Catering Service
School
Office Building
Hospital
Gym
Government
Others
Major players covered
A. O. Smith (including State etc)
Rinnai
Stiebel Eltron
Daikin
Mitsubishi Electric
Paloma (including Rheem etc)
Haier
Gree
Midea
Noritz
Guangdong Vanward New Electric
Guangdong New Energy Technology
Chofu Seisakusho
Atlantic
Ariston
Zhejiang Zhongguang Electrical
Guangdong Phnix Technology
Bradford White
American Standard
Intellihot
Itomic
Ferroli
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Heat Pump Water Heaters product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Heat Pump Water Heaters, with price, sales quantity, revenue, and global market share of Heat Pump Water Heaters from 2020 to 2025.
Chapter 3, the Heat Pump Water Heaters competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Heat Pump Water Heaters breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Heat Pump Water Heaters market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Heat Pump Water Heaters.
Chapter 14 and 15, to describe Heat Pump Water Heaters sales channel, distributors, customers, research findings and conclusion.

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