The global Heat pump water heater market is expected to grow at a significant CAGR during the forecast period (2021-2027). The most successful brands rely on data to inform, and gauge their strategy and decision making, from their marketing segmentation to the product features they develop. This Heat Pump Water Heater Market study report also aims at providing important market growth updates to enable business owners devise crucial marketing strategies. Business related decision making completely relies on market data and here comes the role of Heat Pump Water Heater Market research report. Making insight-driven decision is helpful to make business forward and this market study report allows doing so. It also increases the chance of business success in short time by allowing key players to improve things constantly.
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Heat pump water heaters use electricity for the movement of heat from one place to another, instead of generating heat directly. This function of heat pump water heaters makes them two to three times more efficient than conventional electric resistance water heaters. Heat pump water heaters work like refrigerators, but in reverse, wherein refrigerators extract heat and dump it into the surrounding. Heat pump water heaters extract heat from the surrounding air and dump it at a higher temperature into a tank to heat water. Heat pump water heaters heat a large volume of water and are highly cost-effective, as they consume lesser electricity for heating the same volume of water as compared to the regular water heater.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Heat Pump Water Heater Market by Segment
By Type
- Air Source
- Geothermal
By Storage
- Up to 500 L
- 500-1000 L
- Above 1000 L
By Capacity
- 10 kW
- 10-20 kW
- 20-30 kW
- Above 30 kW
By End-User
- Residential
- Commercial
- Industrial
Global Heat Pump Water Heater Market by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
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