List of the 100 largest heatpump manufacturers Global [2024]

Description

List of the 5 largest heat pump producers globally

The global heat pump market is experiencing significant growth due to an increase in demand in residential areas and favorable government policies in some countries in efforts to reduce CO2 emissions. A heat pump is a device that transfers heat energy from one source to another. They can be used in industrial and residential areas and offer an energy-efficient alternative to other systems and products. This is because heat pumps don’t actually warm or cool the air but pump the warm or cool air from one place to another. This heat transfer is much more energy-efficient and makes heat pumps a great device for our environment. This list includes five of the leading global heat pump manufacturers.

1. Carrier Global Corporation

Carrier is a Florida based global leading provider of sustainable, safe, and healthy building and cold chain solutions. The company manufactures heating, ventilation, and air conditioning systems. Their founder, Willis Carrier, developed the first modern air conditioning system in 1902. Since then, Carrier has continued to build on that legacy and innovate heating and cooling solutions, including heat pumps. Carrier offers a wide selection of heat pumps and has released a new series in the beginning of this year that is compliant with the 2023 Department of Energy minimum efficiency requirements. The company has more than 75 industry-leading brands, including Logic, Bryant, CIAT, NORESCO and Heil.

2. Daikin Industries Ltd.

Daikin Industries is a global leader in the air conditioning market for commercial and industrial use. The company was founded in 1924 and is headquartered in Osaka, Japan. Daikin is challenging new fields for sustainable development under the strategic management plan Fusion 25 and strives to minimalize the environmental impact to earth. Daikin operates in over 160 countries across Europe, Asia, Africa, Oceania, North America, Latin America, and the Middle East. The company has installed 1.2 million water heat pumps in Europe since 2006 and is investing in expanding production capacity to optimally meet increasing demand. This makes it one of the most influential global heat pump manufacturers.

Update 2024: The market leader will launch the new Daikin Altherma 4 in 2024 and expand its production capacity to one million water heat pumps per year by 2025. Daikin has a large vision for the future: The company predicts the European heat pump market will grow to 14 million heating systems by 2030, ten million of which will be water-based heat pumps.

3. Mitsubishi Electric Corporation

Mitsubishi Electric is a world leader in the manufacture and sales of electrical and electronic products and systems, with heat pumps being one of them. The company was founded in 1921 and is headquartered in Tokyo. Mitsubishi Electric strive to contribute to the realization of a vibrant and sustainable society through technological innovation and creativity. The company offers several options for residential air source heat pumps, including mini splits or ductless heat pumps, ducted heat pumps, indoor and outdoor units, single-zone systems, and multi-zone systems. Mitsubishi has offices in America, Asia, Europe, Africa, and the Middle East.

4. NIBE Energy Systems

NIBE Energy Systems is a Chesterfield based business of NIBE, an international heating technology company, focusing on heat pumps and electric water heaters for private homes and larger premises. The company manufactures energy-efficient and sustainable climate solutions and is growing with a focus on innovation and production. NIBE has been listed under the name NIBE Industrier on Nasdaq Stockholm, Large Cap list, since 1997, with a secondary listing on the SIX Swiss Exchange since 2011. The company operates in Europe, North America, Asia, and Australia.

5. Midea Group

Midea Group is a leading global high-technology company based in Foshan. The company is ranked #278 on the Fortune Global 500. Since 2015 joint ventures with Bosch have been in place in Europe. Midea comprises the business pillar of HVAC among other things and has 34 production centers globally and over 150.000 employees. Midea offers Air-to-water heat pumps providing space heating, cooling, and domestic hot water. The company operates in Africa, Asia Pacific, North and South America, Europe, and the Middle East.

Included columns in our list

• Company Name
• Legal form
• URL
• Country
• City
• Postcode
• Address
• Email
• Phone
• Management
• Revenue [in M€]
• Revenue source
• Focus on heat pumps (Yes/No)

Picture Sources: Nadine Marfurt & Hessam Nabavi via Unsplash (24.10.2023)