Manufacturing Components

Heat Pumps: Market Size, Growth & Forecast to 2030

The Heat Pumps market is valued at about $78.4 billion (2026) and is projected to grow at a 9.8% CAGR through 2030. The largest cost driver is Raw Materials (Copper, Aluminum, Steel) (40% of spend). Asia Pacific leads demand at 45%.

Market size
$78.4 bn (2026)
CAGR to 2030
+9.8%
Buyer power
Favours buyers
Tracked suppliers
45

Projected market growth to 2030

Market size index, 2026 = 100, at the 9.8% CAGR.

1601401201001002026109.82027120.62028132.42029145.32030159.62031

Cost structure

Raw Materials (Copper, Aluminum, Steel)
40%
Compressors and Specialized Components
25%
Labor and Assembly
15%
Logistics and Freight
10%
Overhead and Compliance
10%

Regional demand split

Asia Pacific demand
45%
Europe demand
25%
North America demand
20%
Rest of world demand
10%

Key suppliers

Daikin Industries, Ltd.Midea GroupGree Electric AppliancesHaier Smart HomeCarrier Global CorporationMitsubishi Electric CorporationNIBE Industrier ABRobert Bosch GmbH
Read the full Heat Pumps report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/heat-pumps