According to the research report titled ‘North America Air to Water Heat Pump Market Size By Application (Residential, Commercial), Industry Analysis Report, Country Outlook (U.S., Canada), Growth Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, North America air to water heat pump market is estimated to witness noteworthy gains over the forecast period 2021-2027.
 

As per the report findings, mounting demand for energy-efficient heating solutions in the region is primarily driving North America air to water heat pump market growth.
 

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For the unversed, air-to-water heat pumps operate by transferring heat from outside air into a water-based system. The accumulated heat can then be used for space heating or for hot water supply in buildings. Air to water heat pumps offer one the most energy-efficient methods of generating heat, as they use heat transfer mechanisms instead of burning fuel.
 

Notably, growing advancements in technology for developing efficient air to water heat pumps with steady heat supply in extreme weather conditions has bolstered product adoption in the region. Moreover, increasing consumer interest in sustainable heating solutions, and extreme climate conditions in the region have been fueling the market uptake in recent years.
 

In terms of application-based fragmentation of North America air to water heat pump market, the residential segment is expected to garner a robust CAGR over the analysis timeframe over 2021-2027, propelled by the expanding real estate sector, and growing demand for sustainable space heating technologies.
 

Moving on to regional scope, Canada market currently captures a major revenue share and is estimated to record similar trends over the analysis period. This can be attributed to prevalence of harsh winters across the country, which substantially bolster the requirement for space heating technologies in the country.
 

Speaking of the competitive landscape, companies such as Glen Dimplex Group, Nortek Global HVAC LLC, Stiebel Eltron GmbH & Co. KG, Danfoss A/S, Toshiba Corp., Viessmann Manufacturing Co. Inc., and Daikin Industries Ltd. are influencing North America air to water heat pump industry trends.