The global heat pump market size is anticipated to reach USD 166.6 billion by 2030, expanding at a CAGR of 9.4% during the forecast period, according to a new report by Grand View Research, Inc. Favorable government policies for energy-efficient solutions and lowered carbon footprint are expected to boost the market growth over the forecast period. In addition, consumer-driven demand for...

The global heat pump market size was estimated at USD 88.7 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2024 to 2030. Favorable government policies for energy-efficient solutions and lowering carbon footprint are anticipated to boost market growth over the forecast period. Many governments are providing subsidies or incentives and tax credits...