A Heat Pump is a device that provides heat energy from a source of heat to a destination called a "heat sink". Heat pumps are designed to move thermal energy opposite to the direction of spontaneous heat flow by absorbing heat from a cold space and releasing it to a warmer one. A heat pump uses some amount of external power to accomplish the work of transferring energy from the heat source to the heat sink.
Global Heat Pumps key players include Daikin, Mitsubishi, Atlantic, NIBE Industrier, Hitachi, etc. Global top five players hold a share about 45%.
China is the largest market, with a share about 40%, followed by Europe and Japan, having a total share about 40 percent.
In terms of product, Air to Water Monobloc is the largest segment, with a share about 75%. And in terms of application, the largest application is Residential Heat Pumps, followed by Industrial Heat Pumps, Commercial Heat Pumps.

Market Analysis and Insights: Global and China Heat Pumps Market
This report focuses on global and China Heat Pumps market.
In 2020, the global Heat Pumps market size was US$ 7685 million and it is expected to reach US$ 11110 million by the end of 2027, with a CAGR of 5.4% during 2021-2027. In China the Heat Pumps market size is expected to grow from US$ XX million in 2020 to US$ XX million by 2027, at a CAGR of XX% during the forecast period.

Global Heat Pumps Scope and Market Size
Heat Pumps market is segmented by region (country), players, by Type, and by Application. Players, stakeholders, and other participants in the global Heat Pumps market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application in terms of revenue and forecast for the period 2016-2027.
For China market, this report focuses on the Heat Pumps market size by players, by Type, and by Application, for the period 2016-2027. The key players include the global and local players which play important roles in China.

Segment by Type
Air to Water Monobloc
Air to Water Cylinder
Ground/Water to Water
Air to Water Split
Exhaust Air

Segment by Application
Residential Heat Pumps
Industrial Heat Pumps
Commercial Heat Pumps

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE

By Company
Daikin
Mitsubishi
Atlantic
NIBE Industrier
Hitachi
Bosch
Panasonic
Aermec
STIEBEL ELTRON
CIAT
Fujitsu
Vaillant
Danfoss Group
Carrier
Rheem
Johnson Controls
Calorex
Kensa
Maritime Geothermal
Thermia
ClimateMaster
Bryant
Midea
GREE Electric
Sirac
Anywhere
Fuerda
Tongyi Electrical
AMITIME
Zhengxu