CHICAGO, Dec. 22, 2021 - The pool heat pump market is expected to grow at a CAGR of over 5% during the period 2021−2027.
Key Highlights Offered in the Report:
The global pool heat pump market would realize an absolute growth of 33.43% in terms of revenue in the period between 2021-2027.
Air source segment accounted for majority share of the pool heat pump market in 2021 and is expected to grow with a 5.44% CAGR during the forecast period in terms of revenue.
By capacity, >20kW segment dominated the market with a share of 47.48% in 2021 in terms of revenue and is expected to grow at a CAGR of 5.77% during 2021-2027.
In terms of end-users, residential segment dominates the global pool heat pump market in 2021 and is expected to add over USD 1.28 billion revenue during the forecast period.
North America dominates the overall pool heat pump market with a share of 47.58% in 2021 in terms of revenue.
The APAC region is estimated to be the fastest-growing region for the commercial segment in terms of unit-wise adoption, which is expected to reach 56.14 thousand units by 2027
Key Offerings:
Market Size & Forecast by Revenue | 2021−2027
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by type, capacity, end-user, and geography
Competitive Landscape – 5 key vendors and 20 other prominent vendors
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Pool Heat Pump Market – Segmentation
The research and feasibility of geothermal energy and favorable government policies are encouraging the growth of ground source heat pumps for pools.
The lower complexity in installation and comparatively lower cost with other alternatives are driving the demand for these heat pumps. They are also economical for outdoor pool owners, especially in countries such as the UK, where the air temperature is generally higher than the ground temperature. This further compels end-users to rely on a backup source for heating indoor pools.
The <10 kW heat pumps segment, which is extensively used among indoor residential pools, is expected to grow at a CAGR of 4.78%. They are also ideal for above-ground pools that are less than 12 ft in diameter. This is prominent in Europe and North America owing to the high concentration of indoor pools in these regions.
Pool Heat Pump Market by Type
Air Source
Water/Geothermal Source
Pool Heat Pump Market by Capacity
Less than 10kW
10kW-20kW
Greater than 20kW
Pool Heat Pump Market by End-User
Residential
Commercial
Hotels and Resorts
Spas
Educational Institutions
Water Parks
Sports Club
Others
Pool Heat Pump Market – Dynamics
With 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 as per the smart demand response. IoT-enabled heat pumps allow further decarbonization of heat supply as they are effective in transferring renewable energy for household purposes and other commercial activities and gaining high traction in the global market. For instance, the smart control system from Hayward, powered through OmniHub, facilitates seamless connectivity, integration, and real-time control even through devices such as Alexa to adjust the temperature of the pool. Moreover, Industry leaders such as AquaCal have been leveraging Wi-fi management systems with the PoolSync mobile application. It enables end-users to adjust the temperature settings alongside pool statistics in the dashboard of the application.
Key Drivers and Trends fueling Market Growth:
The emergence of Next -Generation ostomy care
High Demand for Home Healthcare Agencies Among Ostomates
High Growth Potential for Ostomy Care in Emerging Markets
Increasing Adoption of Telehealth for Ostomy Care
Prevalence of Health Conditions That Resulting in Ostomy Surgery
Reimbursement policies in Developed Countries
Technological Advancements in Ostomy Care Products
Pool Heat Pump Market – Geography
With fossil fuels dominating the market in most residential buildings in the US, the opportunity for pool heat pump growth remains evident in the country. 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. Arizona, Florida, Nevada, Connecticut, and New Hampshire are some of the ideal targets for heat pump vendors. Above-ground pools are more common in residential homes as the average cost of construction ranges between USD 6,000−6,500, whereas for an in-ground pool, it is above USD 20,000. Green buildings are the latest trends in the US, where cities like Austin are the fastest-growing markets for greenhouse buildings. In major cities like New York, there is scope for the adoption of over 1,00,000 residential heat pump installations by the end of 2025, thereby contributing towards New York's energy efficiency target of realizing over 185 TBtu of site energy savings by during the forecast period.
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Pool Heat Pump Market by Geography
North America
US
Canada
Europe
France
Spain
Germany
Italy
UK
APAC
China
Japan
South Korea
Australia
Latin America
Brazil
Mexico
Middle East and Africa
South Africa
Saudi Arabia
UAE
Prominent Vendors
Rheem manufacturing company
AquaCal
Pentair
Hayward Industries
Fluidra
Other Prominent Vendors
Condeana Commercial Enterprises
Carrier
Daishiba
Nirvana Chauffe-Piscine Inc
Viessmann Group
Guangdong Phnix Eco-Energy Solution
Ascler
Venus Home Appliances
Dantherm Group
Evo Industries Australia
Guangzhou Sprsun New Energy Technology Development
Madimack
AquaPro Systems
Gulfstream Manufacturing
Thermeau Industries
Avi Solar Tech
Guangdong Fineco New Energy
EcoTech
Foshan MACON Cooling & Heating Energy-Saving Equipment
Sunrain
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