18 May 2017
This report provides a snapshot of the North American heat pump and air conditioning market in the context of a recovering economy and housing market, following the U.S. economic crisis of 2006. Heat pumps show continuing growth as a standalone, complimentary, and efficient electric heating alternative to fossil fuel heating systems, particularly in the warmer areas of North America where there is strong population migration. Market growth of solar energy especially in the residential sector is creating favorable market conditions for heat pump technologies. Relatively new heat pump applications such as heat pump water heater and geothermal heat pumps are gaining market traction in some niche markets but struggling to overcome critical market barriers in others. Statistical data will be presented to illustrate the growing number of heat pump systems in the U.S. and Canada and to highlight the future outlook for increased potential penetration of heat pump systems for both residential and commercial building heating and cooling markets in North America, providing motivation for continued efforts to improve the technology and its applications.