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US Heat Pump Market Overview–2020.

Number: No 010

Author(s) : JOEA J., MALHOTRAA M., LAPSAA M., BAXTER V.

Summary

This paper provides an overview of the US heat pump market in 2020; discusses the key drivers and challenges that have been shaping the market; and discusses the underlying factors that are setting the direction for the research, development, and commercialization of heat pumping technologies in the United States. Following the 2006–2007 housing market collapse, the US heat pump market has shown steady growth since 2010. Airsource heat pump shipments reached nearly 3 million in 2018, a 12.2% increase over 2017 versus the 7.1% estimated growth rate of the global heat pump market. Owing to the recovering economy, growing construction market, relatively stable electricity prices, numerous financial incentives, and technological advancements, the demand for heat pumps has been increasing. The current focus of heat pump research and development in the United States includes development of next-generation systems and components, lower global warming potential refrigerant alternatives, and reduced cost for premium-efficiency technologies. The future heat pump market and technologies will be highly influenced by increasingly stringent minimum efficiency standards, incentive programs, technological innovations, and the national and global economy.

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Pages: 12 p.

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Details

  • Original title: US Heat Pump Market Overview–2020.
  • Record ID : 30029915
  • Languages: English
  • Subject: Figures, economy, Regulation
  • Source: 13th IEA Heat Pump Conference 2021: Heat Pumps – Mission for the Green World. Conference proceedings [full papers]
  • Publication date: 2021/08/31

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