Pool Heat Pump Market Size to Reach Revenues of USD 7.5 Billion by 2025 - Arizton

CHICAGO, Oct. 22, 2020 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global pool heat pump market report.

The pool heat pump market size is expected to grow at a CAGR of over 5% during the period 2019−2025. The market share is also provided in terms of volume for the forecast period.

Key Highlights Offered in the Report:  

1. By type, air source heat pumps dominated the market in 2019 which is expected to add over $1 billion by 2025.
2. Around 647 thousand units of pool heat pumps were adopted in 2019 with over >20Kw capacity owing to the wide adoption in hotels, resorts, and institutions.
3. North America dominated the spa pool heat pump market with a share of over 44% owing to the significant spa industry which generated more than $22 billion in 2019.
4. APAC is expected to grow at a CAGR of around 6% in terms of revenue with rise in swimming pool construction, high disposable income, and growth in awareness.
5. With over 2.5 million residential swimming pools, France is considered to be a forerunner in adopting pool related equipment in Europe.
6. Eco-friendly refrigerants, smart pool heat pumps, hybrid versions, and COP ratings are expected to shape the future of pool heat pump market.

Key Offerings:

• Market Size & Forecast by Revenue | 2019−2025
• 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 16 other vendors

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Pool Heat Pump Market – Segmentation

• The air source segment is estimated to grow at a CAGR of over 5% during 2019–2025. The growth is expected to be vital from India, Malaysia, Thailand, and Singapore, with China leading the market. With the highest number of outdoor pools, North American contributed the highest share in the segment in terms of unit shipment.
• The extensive usage of 10kW–20kW heat pumps in residential and commercial segments is expected to influence the segment positively. APAC is the fastest-growing region expected to grow at a CAGR of over 5% due to a high concentration of underpenetrated and growing economies.
• The residential segment is expected to pose an absolute growth of 39% by the end of 2025. As government bodies and associations are increasing the adoption of these pumps via rebates, financial incentives, the growth is expected to be certain during the next five years.

Pool Heat Pump Market by Type

• Air Source
• Water/Geothermal Source

Pool Heat Pump Market by Capacity 

• <10kW
• 10kW­–20kW
• >20kW

Pool Heat Pump Market by End-user

• Residential
• Commercial
• Hotels and Resorts
• Spas
• Educational Institutes
• Water Parks
• Sports Clubs
• Others

Pool Heat Pump Market – Dynamics

The growth in preference for a sophisticated lifestyle, rise in disposable income, and urbanization is driving the demand for swimming pools. Since it is one of the important lifestyle amenities, the rise in residential projects encourages the adoption of pools. Similarly, the boom in the tourism industry and the rise in tourism spending also enforces the construction of pools in hotels and resorts. A strong economic environment, dynamic lifestyle trends, positive consumer outlook, rising home values and flourishing outdoor living are some major factors reflecting strong growth for the swimming pool and its associated products and services market.

Key Drivers and Trends fueling Market Growth:

• Need for Energy Efficiency and Sustainability
• Favorable Government Policies and Incentives
• Preference for Smart Pool Heat Pumps
• Boom in Spa Industry

Pool Heat Pump Market – Geography

The market in North America is expected to witness traction, and high demand post-2020 as economic and pool construction activities are expected to revive. While air-source heat pumps have the highest penetration and acceptance in the US, efforts can be taken by vendors to hike investments in ground-breaking geothermal heat pump technology in the coming years. Similarly, residential heat pumps of capacity <10kW can be targeted to Canadian households as they witness high renovation and indoor pool maintenance efforts. The replacement demand in the country, which leads to the adoption of energy-efficient heat pumps, will be high during the forecast period.

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Pool Heat Pump Market by Geography

• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• APAC
• China
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa

Major Vendors

• Rheem Manufacturing Company
• AquaCal
• Pentair
• Hayward Industries Inc.
• Fluidra S.A.

Other Prominent Vendors

• Aqualux International
• CIAT
• Daishiba
• Nirvana Chauffe-piscine Inc
• Viessmann Group
• ZANTIA
• PHNIX Eco-energy Solution Ltd.
• Ascler
• Venus Home Appliances
• Dantherm Ltd.
• Evo Industries Australia
• Guangzhou Sprsun New Energy Technology Development Co.
• Madimack
• AquaPro Systems
• GulfStream Manufacturing
• Thermeau Industries Inc.

Explore our industrial machinery profile to know more about the industry.

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SOURCE Arizton Advisory & Intelligence