Heat Pump Water Heater Market Size, Share, Trends, Industry Analysis Report: By Technology, Capacity, Operation Type, Application, Tank Capacity, and Region

Description

List of Tables

The global heat pump water heater market size is expected to reach USD 38.60 billion by 2034, according to a new study by Polaris Market Research. The report "Heat Pump Water Heater Market Size, Share, Trends, Industry Analysis Report: By Technology, Capacity, Operation Type (Electric and Hybrid), Application, Tank Capacity, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

A heat pump water heater is an energy-efficient system that extracts heat from the surrounding air and transfers it to water, reducing energy consumption compared to conventional water heaters. One of the top trends shaping the heat pump water heater market growth is the integration of smart and connected technologies, which improve system efficiency and user control. Advanced features such as Wi-Fi-enabled monitoring, adaptive heating schedules, and energy usage analytics are becoming standard, allowing consumers to optimize performance and reduce operational costs. These innovations are driving the adoption of HPWHs across residential and commercial applications, as they align with the growing demand for intelligent energy management solutions. The increasing focus on digitalization and automation is expected to further propel market growth, making smart-enabled HPWHs a preferred choice for modern consumers.

Another key trend in the heat pump water heater market is the shift toward environmentally friendly refrigerants, driven by global sustainability initiatives and strict environmental regulations. Traditional refrigerants with high global warming potential (GWP) are being replaced with low-GWP alternatives such as R-744 (CO2) and R-290 (propane), which offer improved efficiency and reduced environmental impact. This transition is encouraging manufacturers to invest in research and development to improve product performance while ensuring compliance with evolving regulatory standards. Additionally, the adoption of eco-friendly refrigerants supports the broader goal of reducing carbon emissions in the heating sector. Therefore, as sustainability continues to be a critical focus area, the demand for HPWHs utilizing next-generation refrigerants is expected to rise.

Heat pump water heater Market Report Highlights

In terms of operation type, the electric segment led the expansion of the heat pump water heater market in 2024, driven by its extensive adoption across both residential and commercial sectors.

Based on tank capacity, the 300 to 500 L segment is projected to experience the most rapid growth in the heat pump water heater market during the forecast period, fueled by increasing demand from commercial facilities and multi-family residential buildings.

Asia Pacific led the global market in 2024, largely attributed to rapid urbanization, stringent energy efficiency regulations, and robust government initiatives supporting sustainable heating solutions.

The North America heat pump water heater market is expected to witness the fastest growth during the forecast period, propelled by rising regulatory support and a growing consumer shift toward energy-efficient appliances.

A few global key market players include A. O. Smith India Water Products Pvt. Ltd.; Bosch Thermotechnology Corp.; Carrier; DAIKIN INDUSTRIES, Ltd.; FUJITSU GENERAL; Haier HVAC Solutions; INSPUR Co., Ltd.; Johnson Controls - Hitachi Air Conditioning Company; LG Electronics; Midea America Corp.; MITSUBISHI HEAVY INDUSTRIES, LTD.; Panasonic Holdings Corporation; Rheem Manufacturing Company; Trane; and Vaillant Group International GmbH.

Polaris Market Research has segmented the heat pump water heater market report on the basis of technology, capacity, operation type, application, tank capacity, and region:

By Technology Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)

Air to Water
Water Source
Geothermal

By Capacity Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)

Upto 20 kW
21 to 50 kW
51 to 100 kW
Above 100 kW

By Operation Type Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)

Electric
Hybrid

By Application Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)

Residential
Industrial
Commercial

By Tank Capacity Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)

Upto 150 L
150 to 300 L
300 to 500 L
Above 500 L

By Regional Outlook (Volume Thousand Units; Revenue, USD Billion; 2020-2034)

North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Vietnam
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Product Code: PM5407

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Heat Pump Water Heater Market Insights

4.1. Heat Pump Water Heater Market - Material Snapshot
4.2. Heat Pump Water Heater Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Increasing Demand for Energy-Efficient Water Heating Solutions to Reduce Operational Costs
  - 4.2.1.2. Advancements in heat pump technology improving both performance and reliability
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. Variability in performance of heat pump water heaters based on climatic conditions
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Heat Pump Water Heater Market Material Trends
4.6. Value Chain Analysis

1. Global Heat Pump Water Heater Market, by Technology

1.1. Key Findings
1.2. Introduction
- 1.2.1. Global Heat Pump Water Heater Market, by Technology, 2020-2034 (Volume Thousand Units; USD Billion)
1.3. Air to Water
- 1.3.1. Global Heat Pump Water Heater Market, by Air to Water, by Region, 2020-2034 (Volume Thousand Units; USD Billion)
1.4. Water Source
- 1.4.1. Global Heat Pump Water Heater Market, by Water Source, by Region, 2020-2034 (Volume Thousand Units; USD Billion)
1.5. Geothermal
- 1.5.1. Global Heat Pump Water Heater Market, by Geothermal, by Region, 2020-2034 (Volume Thousand Units; USD Billion)

2. Global Heat Pump Water Heater Market, by Capacity

2.1. Key Findings
2.2. Introduction
- 2.2.1. Global Heat Pump Water Heater Market, by Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
2.3. Upto 20 kW
- 2.3.1. Global Heat Pump Water Heater Market, by Upto 20 kW, by Region, 2020-2034 (Volume Thousand Units; USD Billion)
2.4. 21 to 50 kW
- 2.4.1. Global Heat Pump Water Heater Market, by 21 to 50 kW, by Region, 2020-2034 (Volume Thousand Units; USD Billion)
2.5. 51 to 100 kW
- 2.5.1. Global Heat Pump Water Heater Market, by 51 to 100 kW, by Region, 2020-2034 (Volume Thousand Units; USD Billion)
2.6. Above 100 kW
- 2.6.1. Global Heat Pump Water Heater Market, by Above 100kW, by Region, 2020-2034 (Volume Thousand Units; USD Billion)

3. Global Heat Pump Water Heater Market, by Operation Type

3.1. Key Findings
3.2. Introduction
- 3.2.1. Global Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
3.3. Electric
- 3.3.1. Global Heat Pump Water Heater Market, by Electric, by Region, 2020-2034 (Volume Thousand Units; USD Billion)
3.4. Hybrid
- 3.4.1. Global Heat Pump Water Heater Market, by Hybrid, by Region, 2020-2034 (Volume Thousand Units; USD Billion)

4. Global Heat Pump Water Heater Market, by Application

4.1. Key Findings
4.2. Introduction
- 4.2.1. Global Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
4.3. Residential
- 4.3.1. Global Heat Pump Water Heater Market, by Residential, by Region, 2020-2034 (Volume Thousand Units; USD Billion)
4.4. Industrial
- 4.4.1. Global Heat Pump Water Heater Market, by Industrial, by Region, 2020-2034 (Volume Thousand Units; USD Billion)
4.5. Commercial
- 4.5.1. Global Heat Pump Water Heater Market, by Commercial, by Region, 2020-2034 (Volume Thousand Units; USD Billion)

5. Global Heat Pump Water Heater Market, by Tank Capacity

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
5.3. Upto 150 L
- 5.3.1. Global Heat Pump Water Heater Market, by Upto 150 L, 2020-2034 (Volume Thousand Units; USD Billion)
5.4. 150 to 300 L
- 5.4.1. Global Heat Pump Water Heater Market, by 150 to 300 L, 2020-2034 (Volume Thousand Units; USD Billion)
5.5. 300 to 500 L
- 5.5.1. Global Heat Pump Water Heater Market, by 300 to 500 L, 2020-2034 (Volume Thousand Units; USD Billion)
5.6. Above 500 L
- 5.6.1. Global Heat Pump Water Heater Market, by Above 500 L, 2020-2034 (Volume Thousand Units; USD Billion)

6. Global Heat Pump Water Heater Market, by Geography

6.1. Key Findings
6.2. Introduction
- 6.2.1. Heat Pump Water Heater Market Assessment, By Geography, 2020-2034 (Volume Thousand Units; USD Billion)
6.3. Heat Pump Water Heater Market - North America
- 6.3.1. North America: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.3.2. North America: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.3.3. North America: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.3.4. North America: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.3.5. North America: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.3.6. Heat Pump Water Heater Market - US
  - 6.3.6.1. US: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.3.6.2. US: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.3.6.3. US: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.3.6.4. US: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.3.6.5. US: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.3.7. Heat Pump Water Heater Market - Canada
  - 6.3.7.1. Canada: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.3.7.2. Canada: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.3.7.3. Canada: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.3.7.4. Canada: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.3.7.5. Canada: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
6.4. Heat Pump Water Heater Market - Europe
- 6.4.1. Europe: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.2. Europe: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.3. Europe: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.4. Europe: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.5. Europe: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.6. Heat Pump Water Heater Market - UK
  - 6.4.6.1. UK: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.6.2. UK: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.6.3. UK: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.6.4. UK: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.6.5. UK: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.7. Heat Pump Water Heater Market - France
  - 6.4.7.1. France: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.7.2. France: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.7.3. France: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.7.4. France: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.7.5. France: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.8. Heat Pump Water Heater Market - Germany
  - 6.4.8.1. Germany: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.8.2. Germany: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.8.3. Germany: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.8.4. Germany: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.8.5. Germany: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.9. Heat Pump Water Heater Market - Italy
  - 6.4.9.1. Italy: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.9.2. Italy: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.9.3. Italy: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.9.4. Italy: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.9.5. Italy: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.10. Heat Pump Water Heater Market - Spain
  - 6.4.10.1. Spain: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.10.2. Spain: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.10.3. Spain: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.10.4. Spain: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.10.5. Spain: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.11. Heat Pump Water Heater Market - Netherlands
  - 6.4.11.1. Netherlands: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.11.2. Netherlands: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.11.3. Netherlands: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.11.4. Netherlands: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.11.5. Netherlands: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.12. Heat Pump Water Heater Market - Russia
  - 6.4.12.1. Russia: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.12.2. Russia: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.12.3. Russia: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.12.4. Russia: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.12.5. Russia: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.4.13. Heat Pump Water Heater Market - Rest of Europe
  - 6.4.13.1. Rest of Europe: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.13.2. Rest of Europe: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.13.3. Rest of Europe: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.13.4. Rest of Europe: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.4.13.5. Rest of Europe: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
6.5. Heat Pump Water Heater Market - Asia Pacific
- 6.5.1. Asia Pacific: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.2. Asia Pacific: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.3. Asia Pacific: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.4. Asia Pacific: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.5. Asia Pacific: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.6. Heat Pump Water Heater Market - China
  - 6.5.6.1. China: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.6.2. China: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.6.3. China: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.6.4. China: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.6.5. China: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.7. Heat Pump Water Heater Market - India
  - 6.5.7.1. India: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.7.2. India: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.7.3. India: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.7.4. India: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.7.5. India: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.8. Heat Pump Water Heater Market - Malaysia
  - 6.5.8.1. Malaysia: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.8.2. Malaysia: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.8.3. Malaysia: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.8.4. Malaysia: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.8.5. Malaysia: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.9. Heat Pump Water Heater Market - Japan
  - 6.5.9.1. Japan: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.9.2. Japan: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.9.3. Japan: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.9.4. Japan: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.9.5. Japan: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.10. Heat Pump Water Heater Market - Indonesia
  - 6.5.10.1. Indonesia: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.10.2. Indonesia: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.10.3. Indonesia: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.10.4. Indonesia: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.10.5. Indonesia: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.11. Heat Pump Water Heater Market - South Korea
  - 6.5.11.1. South Korea: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.11.2. South Korea: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.11.3. South Korea: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.11.4. South Korea: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.11.5. South Korea: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.12. Heat Pump Water Heater Market - Australia
  - 6.5.12.1. Australia: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.12.2. Australia: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.12.3. Australia: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.12.4. Australia: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.12.5. Australia: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.5.13. Heat Pump Water Heater Market - Rest of Asia Pacific
  - 6.5.13.1. Rest of Asia Pacific: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.13.2. Rest of Asia Pacific: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.13.3. Rest of Asia Pacific: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.13.4. Rest of Asia Pacific: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.5.13.5. Rest of Asia Pacific: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
6.6. Heat Pump Water Heater Market - Middle East & Africa
- 6.6.1. Middle East & Africa: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.6.2. Middle East & Africa: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.6.3. Middle East & Africa: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.6.4. Middle East & Africa: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.6.5. Middle East & Africa: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.6.6. Heat Pump Water Heater Market - Saudi Arabia
  - 6.6.6.1. Saudi Arabia: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.6.2. Saudi Arabia: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.6.3. Saudi Arabia: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.6.4. Saudi Arabia: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.6.5. Saudi Arabia: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.6.7. Heat Pump Water Heater Market - UAE
  - 6.6.7.1. UAE: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.7.2. UAE: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.7.3. UAE: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.7.4. UAE: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.7.5. UAE: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.6.8. Heat Pump Water Heater Market - Israel
  - 6.6.8.1. Israel: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.8.2. Israel: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.8.3. Israel: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.8.4. Israel: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.8.5. Israel: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.6.9. Heat Pump Water Heater Market - South Africa
  - 6.6.9.1. South Africa: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.9.2. South Africa: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.9.3. South Africa: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.9.4. South Africa: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.9.5. South Africa: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.6.10. Heat Pump Water Heater Market - Rest of Middle East & Africa
  - 6.6.10.1. Rest of Middle East & Africa: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.10.2. Rest of Middle East & Africa: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.10.3. Rest of Middle East & Africa: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.10.4. Rest of Middle East & Africa: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.6.10.5. Rest of Middle East & Africa: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
6.7. Heat Pump Water Heater Market - Latin America
- 6.7.1. Latin America: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.7.2. Latin America: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.7.3. Latin America: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.7.4. Latin America: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.7.5. Latin America: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.7.6. Heat Pump Water Heater Market - Mexico
  - 6.7.6.1. Mexico: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.6.2. Mexico: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.6.3. Mexico: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.6.4. Mexico: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.6.5. Mexico: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.7.7. Heat Pump Water Heater Market - Brazil
  - 6.7.7.1. Brazil: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.7.2. Brazil: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.7.3. Brazil: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.7.4. Brazil: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.7.5. Brazil: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.7.8. Heat Pump Water Heater Market - Argentina
  - 6.7.8.1. Argentina: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.8.2. Argentina: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.8.3. Argentina: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.8.4. Argentina: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.8.5. Argentina: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)
- 6.7.9. Heat Pump Water Heater Market - Rest of Latin America
  - 6.7.9.1. Rest of Latin America: Heat Pump Water Heater Market, By Component, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.9.2. Rest of Latin America: Heat Pump Water Heater Market, By Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.9.3. Rest of Latin America: Heat Pump Water Heater Market, by Operation Type, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.9.4. Rest of Latin America: Heat Pump Water Heater Market, by Application, 2020-2034 (Volume Thousand Units; USD Billion)
  - 6.7.9.5. Rest of Latin America: Heat Pump Water Heater Market, by Tank Capacity, 2020-2034 (Volume Thousand Units; USD Billion)

7. Competitive Landscape

7.1. Expansion and Acquisition Analysis
- 7.1.1. Expansion
- 7.1.2. Acquisitions
7.2. Partnerships/Collaborations/Agreements/Exhibitions

8. Company Profiles

8.1. Panasonic Holdings Corporation
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Recent Development
8.2. LG Electronics.
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.2.4. Recent Development
8.3. Johnson Controls - Hitachi Air Conditioning Company
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Recent Development
8.4. MITSUBISHI HEAVY INDUSTRIES, LTD.
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Benchmarking
- 8.4.4. Recent Development
8.5. Trane.
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.5.4. Recent Development
8.6. FUJITSU GENERAL
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Recent Development
8.7. Haier HVAC Solutions
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Benchmarking
- 8.7.4. Recent Development
8.8. Carrier.
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Product Benchmarking
- 8.8.4. Recent Development
8.9. Rheem Manufacturing Company.
- 8.9.1. Company Overview
- 8.9.2. Financial Performance
- 8.9.3. Product Benchmarking
- 8.9.4. Recent Development
8.10. A. O. Smith India Water Products Pvt. Ltd.
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Product Benchmarking
- 8.10.4. Recent Development
8.11. Bosch Thermotechnology Corp.
- 8.11.1. Company Overview
- 8.11.2. Financial Performance
- 8.11.3. Product Benchmarking
- 8.11.4. Recent Development
8.12. Vaillant Group International GmbH
- 8.12.1. Company Overview
- 8.12.2. Financial Performance
- 8.12.3. Product Benchmarking
- 8.12.4. Recent Development
8.13. INSPUR Co., Ltd.
- 8.13.1. Company Overview
- 8.13.2. Financial Performance
- 8.13.3. Product Benchmarking
- 8.13.4. Recent Development
8.14. Midea America Corp.
- 8.14.1. Company Overview
- 8.14.2. Financial Performance
- 8.14.3. Product Benchmarking
- 8.14.4. Recent Development
8.15. DAIKIN INDUSTRIES, Ltd.,
- 8.15.1. Company Overview
- 8.15.2. Financial Performance
- 8.15.3. Product Benchmarking
- 8.15.4. Recent Development