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Russia’s invasion of Ukraine has caused significant disruption to global energy markets. Europe has felt the biggest impact as a significant buyer of oil, and particularly gas, from Russia. In fact, Russia accounted for 35.5% of Europe’s gas supply in 2021. As the volume of gas coming from Russia has fallen, Europe has been scrambling to secure sup...

Diesel generator sets (gensets) are widely utilized to provide reliable mobile, stationary, or temporary on-site power, in an array of applications ranging from back-up power generation in mission-critical applications, such as hospitals and data centres, to peak-load generation in electrical grids. The European diesel genset market is experiencing...

This study provides a comprehensive overview of the low-carbon cement and concrete landscape, examining the industry’s emissions profile, the central role of clinker, and the technical and performance implications of its substitution. It maps global cement and concrete market structures, production capacities, geographic demand trends, and evolving...

This report examines the transformative impact of quantum technologies on the global data center industry, assessing their potential to improve operational efficiency and security while identifying strategic growth opportunities for operators and colocation providers between 2026 and 2031. It provides an overview of quantum principles, the shift fr...

The TechVision division of Frost & Sullivan has evaluated high power electronics technologies, and has assessed innovations that will have an impact on various applications in the near-, medium-, and long- term. Increasing need for high-power/high-voltage, high-temperature and high switching frequency power electronic devices in applications such ...

The Asia-Pacific (APAC) Internet of Things (IoT) market is expected to grow at a compound annual growth rate (CAGR) of 22.5% between 2019 and 2026 to reach a market size of $436.80 billion by the end of this forecast period. However, many enterprises remain unclear about the benefits and the maturity of IoT solutions available on the market. This r...

The growing adoption of Cloud in IoT services, shifting of focus to industrial IoT (IIoT), the rising market of M2M communication, and the increasing trend of wearable technology applications are among the major factors driving the IoT market in India. Moreover, various government projects such as smart cities, smart transportation, smart grids, a...

This Frost & Sullivan report examines novel concepts in various aspects of the energy industry that help in the effort to create a better environment, generating direct opportunities across major sectors: energy, industrial, mobility, and technology. The Trend Opportunity Profiles analyze transformative trends alternative energy solutions and servi...

04 Dec 2024  |  Global  |  Market Research

Residential Heat Pump Industry, Global, 2024-2035

The Need to Decarbonize Residential Buildings is Driving Transformational Growth

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The global residential heat pump (HP) market is forecast to reach 17.0 million units by 2035, up from 7.6 million in 2024. Market definitions are important to the market forecast, and Frost & Sullivan excludes the sale of HPs for air conditioning. Market revenues are forecast to reach $80.43 billion by 2035, at a CAGR of 8.5% from 2024 to 2035. As ...