APO RESEARCH · REPORT
Air Source Heat Pump
Air-source heat pumps use a refrigerant cycle to provide heating and, on reversible systems, cooling.
Product & engineering
Understand the product.
Air Source Heat Pump (ASHP) is a device which uses a vapor compression cycle to transfer heat between outdoor air and indoor air or water. There are two type of air source heat pumps including air-to-air heat pumps and air-to-water heat pumps. As the name implies, these systems heat or cool indoor air or move energy into water. An air-source heat pump can provide efficient heating and cooling for your home, especially if you live in a warm climate. When properly installed, an air-source heat pump can deliver one-and-a-half to three times more heat energy to a home than the electrical energy it consumes. This is possible because a heat pump moves heat rather than converting it from a fuel, like in combustion heating systems.
Outdoor heat exchangers and compressors work with air or water distribution interfaces. Defrost and auxiliary arrangements vary with system design.
Low outdoor temperatures and moisture change operating conditions. Rated efficiency should be compared at relevant temperatures and the same system boundary.
What turns activity into demand
Air-source heat pumps transfer heat between outdoor air and a building system, with weather affecting capacity and efficiency.
The commercial boundary
Separate heat pumps from distribution equipment and complete building retrofits.
Technical reading
Selected research
Industry Research
Air Source Heat Pump Industry Research Report 2026
Market perspective
Air Source Heat Pump (ASHP) is a device which uses a vapor compression cycle to transfer heat between outdoor air and indoor air or water. There are two type of air source heat pumps including air-to-air heat pumps and air-to-water heat pumps. As the name implies, these systems heat or cool indoor air or move energy into water. An air-source heat pump can provide efficient heating and cooling for your home, especially if you live in a warm climate. When properly installed, an air-source heat pump can deliver one-and-a-half to three times more heat energy to a home than the electrical energy it consumes. This is possible because a heat pump moves heat rather than converting it from a fuel, like in combustion heating systems.
Global air handling units control main manufactuers include Daikin Industries, Mitsubishi Electric, Fujitsu General, LG Electronics, Panasonic, etc., totally accounting for about 26% of the market. Europe is the largest market, with a share over 32%. As for the types of products, it can be divided into air-to-air heat pump and air-to-water heat pump. The most common product is air-to-air heat pump, with a share over 55%. In terms of applications, it is widely used in residential, commercial and industrial. The most common application is residential, with a share about 83%.
Report Scope
Read the full market overview
This report quantifies the global Air Source Heat Pump market in revenue (US$ million) and, where applicable, sales volume (K Units), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of types and applications, harmonizes vendor attribution, and presents comparable time series by company, type, application, and region/country, including indicative price bands (US$/K Units) and concentration ratios (CR5/CR10).
The outputs are intended to support strategy development, budgeting, and performance benchmarking for manufacturers, new entrants, channel partners, and investors; the report also reviews technology shifts and notable product introductions relevant to Air Source Heat Pump.
Key Companies & Market Share Insights
This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Air Source Heat Pump Market by Company
Daikin Industries
Mitsubishi Electric
Fujitsu General
LG Electronics
Panasonic
Carrier
NIBE
Bosch Thermotechnik
Glen Dimplex
Vaillant
Danfoss
A. O. Smith
Viessmann
BDR Thermea Group
Haier
Midea
Gree Electric
Stiebel Eltron GmbH & Co.
Swegon Group AB
Sanden International
Aermec
Air Source Heat Pump Segment by Type
Air-to-Air Heat Pump
Air-to-Water Heat Pump
Air Source Heat Pump Segment by Application
Residential
Commercial
Industrial
Air Source Heat Pump Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Air Source Heat Pump market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Air Source Heat Pump and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Air Source Heat Pump.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Detailed analysis of Air Source Heat Pump manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Air Source Heat Pump by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Air Source Heat Pump in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Air-to-Air Heat Pump
- Air-to-Water Heat Pump
Applications
- Residential
- Commercial
- Industrial
Companies covered
- Daikin Industries
- Mitsubishi Electric
- Fujitsu General
- LG Electronics
- Panasonic
- Carrier
- NIBE
- Bosch Thermotechnik
- Glen Dimplex
- Vaillant
- Danfoss
- A. O. Smith
- Viessmann
- BDR Thermea Group
- Haier
- Midea
- Gree Electric
- Stiebel Eltron GmbH & Co.
- Swegon Group AB
- Sanden International
- Aermec
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Air Source Heat Pump by Type
- 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million)
- 2.2.2 Air-to-Air Heat Pump
- 2.2.3 Air-to-Water Heat Pump
- 2.3 Air Source Heat Pump by Application
- 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032) & (US$ Million)
- 2.3.2 Residential
- 2.3.3 Commercial
- 2.3.4 Industrial
- 2.4 Global Market Growth Prospects
- 2.4.1 Global Air Source Heat Pump Production Value Estimates and Forecasts (2021-2032)
- 2.4.2 Global Air Source Heat Pump Production Capacity Estimates and Forecasts (2021-2032)
- 2.4.3 Global Air Source Heat Pump Production Estimates and Forecasts (2021-2032)
- 2.4.4 Global Air Source Heat Pump Market Average Price (2021-2032)
3 Market Competitive Landscape by Manufacturers
- 3.1 Global Air Source Heat Pump Production by Manufacturers (2021-2026)
- 3.2 Global Air Source Heat Pump Production Value by Manufacturers (2021-2026)
- 3.3 Global Air Source Heat Pump Average Price by Manufacturers (2021-2026)
- 3.4 Global Air Source Heat Pump Industry Manufacturers Ranking, 2024 VS 2025 VS 2026
- 3.5 Global Air Source Heat Pump Key Manufacturers, Manufacturing Sites & Headquarters
- 3.6 Global Air Source Heat Pump Manufacturers, Product Type & Application
- 3.7 Global Air Source Heat Pump Manufacturers Established Date
- 3.8 Global Air Source Heat Pump Market CR5 and HHI
- 3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
- 4.1 Daikin Industries
- 4.1.1 Daikin Industries Air Source Heat Pump Company Information
- 4.1.2 Daikin Industries Air Source Heat Pump Business Overview
- 4.1.3 Daikin Industries Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.1.4 Daikin Industries Product Portfolio
- 4.1.5 Daikin Industries Recent Developments
- 4.2 Mitsubishi Electric
- 4.2.1 Mitsubishi Electric Air Source Heat Pump Company Information
- 4.2.2 Mitsubishi Electric Air Source Heat Pump Business Overview
- 4.2.3 Mitsubishi Electric Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.2.4 Mitsubishi Electric Product Portfolio
- 4.2.5 Mitsubishi Electric Recent Developments
- 4.3 Fujitsu General
- 4.3.1 Fujitsu General Air Source Heat Pump Company Information
- 4.3.2 Fujitsu General Air Source Heat Pump Business Overview
- 4.3.3 Fujitsu General Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.3.4 Fujitsu General Product Portfolio
- 4.3.5 Fujitsu General Recent Developments
- 4.4 LG Electronics
- 4.4.1 LG Electronics Air Source Heat Pump Company Information
- 4.4.2 LG Electronics Air Source Heat Pump Business Overview
- 4.4.3 LG Electronics Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.4.4 LG Electronics Product Portfolio
- 4.4.5 LG Electronics Recent Developments
- 4.5 Panasonic
- 4.5.1 Panasonic Air Source Heat Pump Company Information
- 4.5.2 Panasonic Air Source Heat Pump Business Overview
- 4.5.3 Panasonic Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.5.4 Panasonic Product Portfolio
- 4.5.5 Panasonic Recent Developments
- 4.6 Carrier
- 4.6.1 Carrier Air Source Heat Pump Company Information
- 4.6.2 Carrier Air Source Heat Pump Business Overview
- 4.6.3 Carrier Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.6.4 Carrier Product Portfolio
- 4.6.5 Carrier Recent Developments
- 4.7 NIBE
- 4.7.1 NIBE Air Source Heat Pump Company Information
- 4.7.2 NIBE Air Source Heat Pump Business Overview
- 4.7.3 NIBE Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.7.4 NIBE Product Portfolio
- 4.7.5 NIBE Recent Developments
- 4.8 Bosch Thermotechnik
- 4.8.1 Bosch Thermotechnik Air Source Heat Pump Company Information
- 4.8.2 Bosch Thermotechnik Air Source Heat Pump Business Overview
- 4.8.3 Bosch Thermotechnik Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.8.4 Bosch Thermotechnik Product Portfolio
- 4.8.5 Bosch Thermotechnik Recent Developments
- 4.9 Glen Dimplex
- 4.9.1 Glen Dimplex Air Source Heat Pump Company Information
- 4.9.2 Glen Dimplex Air Source Heat Pump Business Overview
- 4.9.3 Glen Dimplex Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.9.4 Glen Dimplex Product Portfolio
- 4.9.5 Glen Dimplex Recent Developments
- 4.10 Vaillant
- 4.10.1 Vaillant Air Source Heat Pump Company Information
- 4.10.2 Vaillant Air Source Heat Pump Business Overview
- 4.10.3 Vaillant Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.10.4 Vaillant Product Portfolio
- 4.10.5 Vaillant Recent Developments
- 4.11 Danfoss
- 4.11.1 Danfoss Air Source Heat Pump Company Information
- 4.11.2 Danfoss Air Source Heat Pump Business Overview
- 4.11.3 Danfoss Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.11.4 Danfoss Product Portfolio
- 4.11.5 Danfoss Recent Developments
- 4.12 A. O. Smith
- 4.12.1 A. O. Smith Air Source Heat Pump Company Information
- 4.12.2 A. O. Smith Air Source Heat Pump Business Overview
- 4.12.3 A. O. Smith Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.12.4 A. O. Smith Product Portfolio
- 4.12.5 A. O. Smith Recent Developments
- 4.13 Viessmann
- 4.13.1 Viessmann Air Source Heat Pump Company Information
- 4.13.2 Viessmann Air Source Heat Pump Business Overview
- 4.13.3 Viessmann Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.13.4 Viessmann Product Portfolio
- 4.13.5 Viessmann Recent Developments
- 4.14 BDR Thermea Group
- 4.14.1 BDR Thermea Group Air Source Heat Pump Company Information
- 4.14.2 BDR Thermea Group Air Source Heat Pump Business Overview
- 4.14.3 BDR Thermea Group Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.14.4 BDR Thermea Group Product Portfolio
- 4.14.5 BDR Thermea Group Recent Developments
- 4.15 Haier
- 4.15.1 Haier Air Source Heat Pump Company Information
- 4.15.2 Haier Air Source Heat Pump Business Overview
- 4.15.3 Haier Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.15.4 Haier Product Portfolio
- 4.15.5 Haier Recent Developments
- 4.16 Midea
- 4.16.1 Midea Air Source Heat Pump Company Information
- 4.16.2 Midea Air Source Heat Pump Business Overview
- 4.16.3 Midea Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.16.4 Midea Product Portfolio
- 4.16.5 Midea Recent Developments
- 4.17 Gree Electric
- 4.17.1 Gree Electric Air Source Heat Pump Company Information
- 4.17.2 Gree Electric Air Source Heat Pump Business Overview
- 4.17.3 Gree Electric Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.17.4 Gree Electric Product Portfolio
- 4.17.5 Gree Electric Recent Developments
- 4.18 Stiebel Eltron GmbH & Co.
- 4.18.1 Stiebel Eltron GmbH & Co. Air Source Heat Pump Company Information
- 4.18.2 Stiebel Eltron GmbH & Co. Air Source Heat Pump Business Overview
- 4.18.3 Stiebel Eltron GmbH & Co. Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.18.4 Stiebel Eltron GmbH & Co. Product Portfolio
- 4.18.5 Stiebel Eltron GmbH & Co. Recent Developments
- 4.19 Swegon Group AB
- 4.19.1 Swegon Group AB Air Source Heat Pump Company Information
- 4.19.2 Swegon Group AB Air Source Heat Pump Business Overview
- 4.19.3 Swegon Group AB Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.19.4 Swegon Group AB Product Portfolio
- 4.19.5 Swegon Group AB Recent Developments
- 4.20 Sanden International
- 4.20.1 Sanden International Air Source Heat Pump Company Information
- 4.20.2 Sanden International Air Source Heat Pump Business Overview
- 4.20.3 Sanden International Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.20.4 Sanden International Product Portfolio
- 4.20.5 Sanden International Recent Developments
- 4.21 Aermec
- 4.21.1 Aermec Air Source Heat Pump Company Information
- 4.21.2 Aermec Air Source Heat Pump Business Overview
- 4.21.3 Aermec Air Source Heat Pump Production, Value and Gross Margin (2021-2026)
- 4.21.4 Aermec Product Portfolio
- 4.21.5 Aermec Recent Developments
5 Global Air Source Heat Pump Production by Region
- 5.1 Global Air Source Heat Pump Production Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.2 Global Air Source Heat Pump Production by Region: 2021-2032
- 5.2.1 Global Air Source Heat Pump Production by Region: 2021-2026
- 5.2.2 Global Air Source Heat Pump Production Forecast by Region (2027-2032)
- 5.3 Global Air Source Heat Pump Production Value Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.4 Global Air Source Heat Pump Production Value by Region: 2021-2032
- 5.4.1 Global Air Source Heat Pump Production Value by Region: 2021-2026
- 5.4.2 Global Air Source Heat Pump Production Value Forecast by Region (2027-2032)
- 5.5 Global Air Source Heat Pump Market Price Analysis by Region (2021-2026)
- 5.6 Global Air Source Heat Pump Production and Value, YOY Growth
- 5.6.1 North America Air Source Heat Pump Production Value Estimates and Forecasts (2021-2032)
- 5.6.2 Europe Air Source Heat Pump Production Value Estimates and Forecasts (2021-2032)
- 5.6.3 China Air Source Heat Pump Production Value Estimates and Forecasts (2021-2032)
- 5.6.4 Japan Air Source Heat Pump Production Value Estimates and Forecasts (2021-2032)
6 Global Air Source Heat Pump Consumption by Region
- 6.1 Global Air Source Heat Pump Consumption Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 6.2 Global Air Source Heat Pump Consumption by Region (2021-2032)
- 6.2.1 Global Air Source Heat Pump Consumption by Region: 2021-2026
- 6.2.2 Global Air Source Heat Pump Forecasted Consumption by Region (2027-2032)
- 6.3 North America
- 6.3.1 North America Air Source Heat Pump Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.3.2 North America Air Source Heat Pump Consumption by Country (2021-2032)
- 6.3.3 United States
- 6.3.4 Canada
- 6.3.5 Mexico
- 6.4 Europe
- 6.4.1 Europe Air Source Heat Pump Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.4.2 Europe Air Source Heat Pump Consumption by Country (2021-2032)
- 6.4.3 Germany
- 6.4.4 France
- 6.4.5 U.K.
- 6.4.6 Italy
- 6.4.7 Russia
- 6.4.8 Spain
- 6.4.9 Netherlands
- 6.4.10 Switzerland
- 6.4.11 Sweden
- 6.4.12 Poland
- 6.5 Asia Pacific
- 6.5.1 Asia Pacific Air Source Heat Pump Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.5.2 Asia Pacific Air Source Heat Pump Consumption by Country (2021-2032)
- 6.5.3 China
- 6.5.4 Japan
- 6.5.5 South Korea
- 6.5.6 India
- 6.5.7 Australia
- 6.5.8 Taiwan
- 6.5.9 Southeast Asia
- 6.6 South America, Middle East & Africa
- 6.6.1 South America, Middle East & Africa Air Source Heat Pump Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.6.2 South America, Middle East & Africa Air Source Heat Pump Consumption by Country (2021-2032)
- 6.6.3 Brazil
- 6.6.4 Argentina
- 6.6.5 Chile
- 6.6.6 Turkey
- 6.6.7 GCC Countries
7 Segment by Type
- 7.1 Global Air Source Heat Pump Production by Type (2021-2032)
- 7.1.1 Global Air Source Heat Pump Production by Type (2021-2032) & (K Units)
- 7.1.2 Global Air Source Heat Pump Production Market Share by Type (2021-2032)
- 7.2 Global Air Source Heat Pump Production Value by Type (2021-2032)
- 7.2.1 Global Air Source Heat Pump Production Value by Type (2021-2032) & (US$ Million)
- 7.2.2 Global Air Source Heat Pump Production Value Market Share by Type (2021-2032)
- 7.3 Global Air Source Heat Pump Price by Type (2021-2032)
8 Segment by Application
- 8.1 Global Air Source Heat Pump Production by Application (2021-2032)
- 8.1.1 Global Air Source Heat Pump Production by Application (2021-2032) & (K Units)
- 8.1.2 Global Air Source Heat Pump Production Market Share by Application (2021-2032)
- 8.2 Global Air Source Heat Pump Production Value by Application (2021-2032)
- 8.2.1 Global Air Source Heat Pump Production Value by Application (2021-2032) & (US$ Million)
- 8.2.2 Global Air Source Heat Pump Production Value Market Share by Application (2021-2032)
- 8.3 Global Air Source Heat Pump Price by Application (2021-2032)
9 Value Chain and Sales Channels Analysis of the Market
- 9.1 Air Source Heat Pump Value Chain Analysis
- 9.1.1 Air Source Heat Pump Key Raw Materials
- 9.1.2 Raw Materials Key Suppliers
- 9.1.3 Air Source Heat Pump Production Mode & Process
- 9.2 Air Source Heat Pump Sales Channels Analysis
- 9.2.1 Direct Comparison with Distribution Share
- 9.2.2 Air Source Heat Pump Distributors
- 9.2.3 Air Source Heat Pump Customers
10 Global Air Source Heat Pump Analyzing Market Dynamics
- 10.1 Air Source Heat Pump Industry Trends
- 10.2 Air Source Heat Pump Industry Drivers
- 10.3 Air Source Heat Pump Industry Opportunities and Challenges
- 10.4 Air Source Heat Pump Industry Restraints
11 Report Conclusion
12 Disclaimer
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