{"product_id":"pool-heat-pump-market-global-outlook-forecast-2023-2028","title":"Pool Heat Pump Market - Global Outlook \u0026 Forecast 2023-2028","description":"\u003cp\u003ePool Heat Pump Market - Global Outlook \u0026amp; Forecast 2023-2028\u003cbr\u003e\nThe global pool heat pump market is expected to grow at a CAGR of 5.25% from 2022-2028.\u003c\/p\u003e\n\n\u003cp\u003eMARKET TRENDS \u0026amp; DRIVERS\u003c\/p\u003e\n\n\u003cp\u003ePreference for Smart Pool Heat Pumps\u003c\/p\u003e\n\n\u003cp\u003eWith energy efficiency being a priority for heat pump vendors, the rise in digitalization is expected to fuel the integration of devices with IoT. Heat pumps are also expected to be designed per the high demand. Furthermore, the need to provide real-time energy-efficient monitoring, optimized load profile, flexible electricity use, and affordable operation costs stimulate the need for technology-enabled connected heat pumps. While IoT-enabled devices are equipped with sensors, electronic chips, software, and network connectivity, Wi-Fi-enabled heat pumps help collect data for analysis. IoT-enabled heat pumps allow further decarbonization of heat supply as they effectively transfer renewable energy for household purposes and other commercial activities.\u003c\/p\u003e\n\n\u003cp\u003eFavorable Government Policies and Incentives\u003c\/p\u003e\n\n\u003cp\u003eThe favorable government policies around the countries that prevent the emission of greenhouse gases into the atmosphere and support the usage of renewable energy sources are eventually driving the pool heat pump market. The policymakers are also trying to frame policies that can help decarbonize transportation and manage the power sectors. For extensive and mega projects, implementing appliances using renewable sources can become mandatory in the coming years to be certified as sustainable and green building units. This can substantially drive the adoption of heat pumps for swimming pools in residential and large commercial spaces.\u003c\/p\u003e\n\n\u003cp\u003eINDUSTRY RESTRAINTS\u003c\/p\u003e\n\n\u003cp\u003eHigh Installation and Upfront Costs\u003c\/p\u003e\n\n\u003cp\u003eDespite the benefits associated with heat pumps concerning their sustainable environmental contribution, their high initial and upfront cost hinder their adoption. Such factors can be a significant challenge, especially in the growing economies and price-sensitive markets of APAC and Latin America, where cost is a major influencing factor for purchase. It is estimated that the average installation cost of a heat pump with pool plumbing might range between USD 3,600 and USD 6,500, whereas the labor cost might range between USD 500 and USD 1,000. These prices are often relatively high for middle-class people who form the significant target segment. While there is evidence of pool heat pumps generating low operational costs over time compared to conventional gas and solar heaters, the high installation cost is a burden for vendors in the global pool heat pump market.\u003c\/p\u003e\n\n\u003cp\u003eSEGMENTATION INSIGHTS\u003c\/p\u003e\n\n\u003cp\u003eINSIGHTS BY TYPE\u003c\/p\u003e\n\n\u003cp\u003eThe global pool heat pump market by type segments as air source and water\/geothermal source. The air source heat pump was the dominant segment in 2022, and its dominance is expected to be sustained throughout the forecast period. It is a commonly preferred heat pump system installed in residential and commercial spaces by effectively sourcing heat from the outdoor air to pool water. Specific air source systems are also preferred for their performance as effective cooling systems during summer.\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by Product TypeAir SourceWater\/geothermal SourceINSIGHTS BY CAPACITY\u003c\/p\u003e\n\n\u003cp\u003eThe \u0026gt;20kW capacity segment dominated the global pool heat pump market in 2022 and is expected to pose an absolute growth of 39.06% during the forecast period concerning revenue. This heavy-duty heat pump is generally preferred for large-scale end-use purposes. They are ideal for commercial spaces where the surface area exceeds 500 square feet and has a capacity of over 30,000 gallons. Owing to the heavy application, they tend to be more expensive than the low-powered heat pumps that use high power. Hence, vendors can focus on hybrid versions to promote operational efficiency. Pentair, Hayward, AquaCal, and Rheem continue to focus on this segment as it poses a significant opportunity for product expansion, especially in the growing economies. Vendors can make efforts to develop energy-efficient pumps for the part, as they are often associated with high utility bills.\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by Capacity\u0026gt;20kW10kW – 20kW\u0026lt;10kWINSIGHTS BY END USERS\u003c\/p\u003e\n\n\u003cp\u003eThe global pool heat pump market by end-user is categorized as residential and commercial. The residential end-user segment was the largest air-source pool heat pump market. The rise in construction of pools in high-rise buildings, enhancing the resale value prospect, disposable income, growing awareness of geothermal energy, use of HVAC systems using renewable resources, and rising concern for sustainability and eco-friendliness are expected to drive the market over the next five years in the residential sector. With established markets in Europe, North America, and a few major countries in APAC, the residential segment constitutes more than 40% of the 0-10kW heat pump market owing to the compact size of the pools.\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by End-userResidentialCommercialSegmentation by Residential\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by CommercialHotels and ResortsSpasEducational InstitutionsWater ParksSports ClubOthersGEOGRAPHICAL ANALYSIS\u003c\/p\u003e\n\n\u003cp\u003eNorth America held the most significant global pool heat pump market share, accounting for over 38% in 2022. With fossil fuels dominating the market in most residential buildings in the U.S., the opportunity for pool heat pump growth remains evident in the country. Furthermore, the eminent players in the region are expected to participate in market expansion activities that influence higher adoption in niche markets of Canada between 2020 and 2025. The Association of Pool and Spa Professionals, a non-profit organization headquartered in Alexandria, develops and publishes standards for the spa, pools, and hot tub industries.\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by GeographyNorth AmericaThe U.S.CanadaEuropeFranceSpainGermanyItalyThe U.K.RussiaPolandNorwayAPACChinaSouth KoreaJapanAustraliaIndiaSingaporeLatin AmericaBrazilMexicoArgentinaMiddle East \u0026amp; AfricaSouth AfricaSaudi ArabiaUAECOMPETITIVE LANDSCAPE\u003c\/p\u003e\n\n\u003cp\u003eThe global pool heat pump market is fragmented and is characterized by various international and prominent vendors across the geographies. Global players like Hayward, Rheem Manufacturing, AquaCal, Pentair, and Jandy are trying to increase their markets through merger strategies and profitable partnerships. In contrast, the prominent vendors are capitalizing on the product range that best suits domestic needs and wants. However, being a technology-oriented product, the scope of difference lies with the sophistication and placement of advanced features like energy efficiency, COP, eco-friendly refrigerant, installation costs, geographical climate, services analysis, and much more, through which the product can stay away from the competitive environment.\u003c\/p\u003e \n\n\u003cp\u003eKey Company ProfilesRheem Manufacturing CompanyAquaCalSystemairPentairAldesHayward IndustriesFluidraDaikinOther Prominent VendorsCondeana Commercial EnterprisesBusiness OverviewProduct OfferingsCIATLGPanasonicMideaCarrierDaishibaFlakt GroupNirvana chauffe-piscine IncViessmann GroupGuangdong PHNIX Eco-energy SolutionAsclerVenus Home AppliancesDantherm GroupEvo Industries AustraliaGuangzhou Sprsun New Energy Technology DevelopmentMadimackAquaPro SystemsGulfstream ManufacturingThermeau IndustriesAvi Solar TechGuangdong Fineco New EnergyEcoTechFoshan MACON Cooling \u0026amp; Heating Energy-Saving EquipmentSunrainKEY QUESTIONS ANSWERED:\u003c\/p\u003e\n\n\u003cp\u003e1. How big is the pool heat pump market?\u003c\/p\u003e\n\n\u003cp\u003e2. What is the growth rate of the global pool heat pump market?\u003c\/p\u003e\n\n\u003cp\u003e3. What are the growing trends in the pool heat pump market?\u003c\/p\u003e\n\n\u003cp\u003e4. Which region holds the most significant global pool heat pump market share?\u003c\/p\u003e\n\n\u003cp\u003e5. Who are the key players in the global pool heat pump market?\u003c\/p\u003e","brand":"Heavy Industry","offers":[{"title":"October, 2023 \/ 411 Pages \/ MCW16214807","offer_id":47616399573298,"sku":null,"price":5040.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/pool-heat-pump-market-global-outlook-forecast-2023-2028","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}