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Growing demand for Geothermal Heat Pump Water Heater Market To Grow At 11.20% CAGR To 2021

Press release   •   Jun 26, 2017 07:00 EDT

About Heat Pump Water Heater

Heat pump water heaters generally use electricity to move heat from one place to another instead of generating heat directly, which helps in reducing energy consumption by three times compared with conventional electric resistance water heaters. To move the heat from one place to other, the heat pump water heaters work like a refrigerator but in reverse, as the heat pump water heaters pull the heat from the surrounding air and keep it at a higher temperature in a tank to heat water.
Technavios analysts forecast the global heat pump water heater market to grow at a CAGR of 11.20% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global heat pump water heater market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:




Technavio's report, Global Heat Pump Water Heater Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors

A.O. Smith

Daikin Industries



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Other prominent vendors

alpha innotec

GE Appliances


Hangzhou Jinjiang Solar

Hayward Industries

Johnson Controls - Hitachi Air Conditioning

Zodiac Pool Solutions (Jandy)


MTechnologysubishi Electric

New Energy










Market driver

Growing demand for geothermal heat pumps

For a full, detailed list, view our report

Market challenge

Challenging market conditions

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Market trend

Tax credits in the US for retrofitting

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Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?

What are the key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

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