중국의 히트펌프 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the china heat pump market size is projected to be USD 16.03 billion in 2025, USD 16.87 billion in 2026, and reach USD 20.91 billion by 2031, growing at a CAGR of 4.39% from 2026 to 2031.

This report is Segmented by Source Type (Air Source, Water Source, and More), Technology (Air-To-Air, Air-To-Water, and More), Capacity (Below 10 KW, 10-50 KW, and More), Application (Space Heating, Industrial and Process Heating, and More), End User (Residential, Commercial, and More), Installation (New Installation, and Retrofit), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

China Heat Pump Market Trends and Insights

Growing Use of Heat Pumps Beyond Traditional Heating and Cooling Applications

Industrial process heat below 200 °C represents a sizeable but under-served opportunity for the China heat pump market, and first movers in textiles, food, and petrochemicals now validate coefficients of performance that exceed 3 for many steam processes. Waste-heat-recovery installations at coal-fired units and airports showcase megawatt-scale systems that trim fuel use by two-thirds versus legacy boilers. Data-center coupling projects in Chengdu demonstrate real-time balancing of server waste heat with nearby commercial loads, cutting standard-coal consumption by almost 8 kilotonnes annually. Successful pilots accelerate bankability for industrial end users that were historically skeptical of electricity-to-gas price volatility. As high-temperature compressors reach market readiness, technical headroom for 165 °C applications offers an incremental addressable market worth billions over the next decade.

Implementation of Government Policies and Incentives to Promote Energy-Efficient Heating and Cooling Systems

The May 2025 household-appliance action plan anchors subsidy streams that reimburse up to 30% of upfront costs, slashing payback periods below five years in Beijing, Hebei, and Henan. Trade-in programs direct consumer attention away from electric resistance heaters, while GB 55015 building codes mandate renewable thermal inputs above 10% for large new construction. Energy service companies harness these incentives to roll out heat-as-a-service contracts, freeing building owners from capital budgeting. Provinces also differentiate rebate levels by seasonal performance factor thresholds, nudging manufacturers to surpass baseline efficiency. Together, these carrots and sticks channel sustained demand that underpins the projected expansion of the China heat pump market.

High Upfront Installation Cost and Building Retrofit Complexity

Residential air-to-water systems cost three to six times more than gas boilers on a first-cost basis, and extra envelope or electrical upgrades can add another 20-40%. Retrofit projects must often replace radiators to accommodate lower supply temperatures, stretching construction timetables and disrupting occupants. Financing remains scarce outside provincial subsidies, pushing payback periods above eight years for many rural homes. Older office towers face bespoke engineering to merge new heat-pump loops with vintage chilled-water infrastructure, inflating risk premiums. These economic and technical frictions drag on the otherwise favorable growth trajectory of the China heat pump market.

Other drivers and restraints analyzed in the detailed report include:

1. Rapid Urbanization and Construction of New Buildings
2. Surge in Cold-Climate Air-Source Heat Pump Deployments Enabled by -35 °C Rated Compressors
3. Limited Public Awareness and Certified Installer Shortage

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Air source heat pumps controlled 68.78% of the China heat pump market share in 2025 as developers favored their lower upfront cost, rooftop compatibility, and limited permitting hurdles. Water source units, though still a minority, are projected to grow at a 5.26% CAGR through 2031 because district-heating companies and industrial parks can tap rivers, aquifers, or wastewater streams that deliver seasonally stable temperatures. Hybrid systems that couple air and ground loops are gaining favor in northern provinces where extreme cold can curb air source efficiency and raise grid stress, as evidenced by the 930,000 m2 Xingtai Renze scheme that achieved a 3.64 COP under -19 °C ambient conditions. Policymakers have begun spotlighting these hybrid architectures as model cases, signaling regulatory tailwinds that could accelerate diversification away from single-source designs.

District heating utilities are also trialing deep-well water source loops that allow simultaneous space heating and hot-water production, boosting full-load hours and flattening seasonal revenue volatility. In Tianjin and Hebei, Sinopec's geothermal portfolio already covers more than 120 million m2, with seasonal performance factors above 4.0 after water source heat pump integration. Local officials tout these metrics to justify subsidy extensions, thereby enhancing the commercial appeal of water source technology. Although permitting for groundwater extraction remains stringent, the long operational life of well infrastructure aligns with utility investment horizons and supports steady uptake within the China heat pump market.

Air-to-water platforms held 46.59% of the China heat pump market share in 2025 because fourth-generation district networks increasingly run at 35-45 °C supply temperatures that match these units' optimal operating range. Hebei Zhaoxian's 4.3 million m2 project validated that clustered air-to-water arrays can displace coal boilers while meeting municipal comfort standards. Water-to-water machines leverage stable geothermal or industrial waste-heat sources to deliver COPs above 5, especially in textile and food parks where simultaneous chilling and heating improve process economics. Ground-to-water units remain niche because drilling costs and groundwater regulations elevate project complexity, but universities and hospitals adopt them for their 50-year exchanger lifespan and immunity to outdoor temperature swings.

Southern provinces still prefer air-to-air heat pumps for cooling-led climates that lack hydronic distribution, yet policy incentives are nudging developers to specify dual coils so systems can upgrade to air-to-water when future retrofits add radiant flooring. Water-to-water penetration is aided by national subsidies that reward simultaneous production of chilled and hot water, improving annualized asset utilization. As the China heat pump market size grows, manufacturers are adding smart controls that let buildings switch dynamically among air, water, and ground sources based on tariff windows and outdoor conditions. This control sophistication boosts seasonal performance factors and reinforces the value proposition of multi-source technology stacks.

List of Companies Covered in this Report:

1. Ariston Holding N.V.
2. Carrier Global Corporation
3. Daikin Industries, Ltd.
4. Fujitsu General Limited
5. Glen Dimplex Group
6. Haier Group Corporation
7. Johnson Controls-Hitachi Air Conditioning
8. LG Electronics Inc.
9. Mitsubishi Electric Corporation
10. NIBE Industrier AB
11. Panasonic Corporation
12. PHNIX Eco-Energy Solution Ltd.
13. Robert Bosch GmbH (Bosch Thermotechnology)
14. Sanden Corporation
15. Stiebel Eltron GmbH and Co. KG
16. Thermia Heat Pumps
17. Trane Technologies plc
18. Vaillant Group
19. Viessmann Group
20. WaterFurnace International Inc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Growing Use of Heat Pumps Beyond Traditional Heating and Cooling Applications
  • 4.2.2 Implementation of Government Policies and Incentives to Promote Energy-Efficient Heating and Cooling Systems
  • 4.2.3 Rapid Urbanization and Construction of New Buildings
  • 4.2.4 Surge in Cold-Climate Air-Source Heat Pump Deployments Enabled by -35 °C Rated Compressors
  • 4.2.5 Expansion of Rural Subsidies Replacing Coal Stoves with Heat Pumps
  • 4.2.6 Integration of Heat Pumps with Rooftop PV and Time-of-Use Tariffs Driving Self-Consumption
• 4.3 Market Restraints
  • 4.3.1 High Upfront Installation Cost and Building Retrofit Complexity
  • 4.3.2 Limited Public Awareness and Certified Installer Shortage
  • 4.3.3 Winter Peak-Load Constraints on Rural Distribution Grids
  • 4.3.4 Uncertainty in Long-Term Electricity-to-Gas Price Ratios Affecting Industrial Adoption
• 4.4 Impact of Macroeconomic Factors on the Market
• 4.5 Industry Value Chain Analysis
• 4.6 Regulatory Landscape
• 4.7 Technological Outlook
• 4.8 Porter's Five Forces Analysis
  • 4.8.1 Bargaining Power of Suppliers
  • 4.8.2 Bargaining Power of Buyers
  • 4.8.3 Threat of New Entrants
  • 4.8.4 Threat of Substitutes
  • 4.8.5 Intensity of Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By Source Type
  • 5.1.1 Air Source
  • 5.1.2 Water Source
  • 5.1.3 Ground Source
  • 5.1.4 Hybrid
• 5.2 By Technology
  • 5.2.1 Air-to-Air
  • 5.2.2 Air-to-Water
  • 5.2.3 Water-to-Water
  • 5.2.4 Ground-to-Water
• 5.3 By Capacity
  • 5.3.1 Below 10 kW
  • 5.3.2 10-50 kW
  • 5.3.3 50-200 kW
  • 5.3.4 Above 200 kW
• 5.4 By Application
  • 5.4.1 Space Heating
  • 5.4.2 Space Cooling
  • 5.4.3 Domestic and Sanitary Hot Water
  • 5.4.4 Industrial and Process Heating
  • 5.4.5 Other Applications
• 5.5 By End User
  • 5.5.1 Residential
  • 5.5.2 Commercial
  • 5.5.3 Industrial
• 5.6 By Installation
  • 5.6.1 New Installation
  • 5.6.2 Retrofit

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Vendor Positioning Analysis
• 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)
  • 6.4.1 Ariston Holding N.V.
  • 6.4.2 Carrier Global Corporation
  • 6.4.3 Daikin Industries, Ltd.
  • 6.4.4 Fujitsu General Limited
  • 6.4.5 Glen Dimplex Group
  • 6.4.6 Haier Group Corporation
  • 6.4.7 Johnson Controls-Hitachi Air Conditioning
  • 6.4.8 LG Electronics Inc.
  • 6.4.9 Mitsubishi Electric Corporation
  • 6.4.10 NIBE Industrier AB
  • 6.4.11 Panasonic Corporation
  • 6.4.12 PHNIX Eco-Energy Solution Ltd.
  • 6.4.13 Robert Bosch GmbH (Bosch Thermotechnology)
  • 6.4.14 Sanden Corporation
  • 6.4.15 Stiebel Eltron GmbH and Co. KG
  • 6.4.16 Thermia Heat Pumps
  • 6.4.17 Trane Technologies plc
  • 6.4.18 Vaillant Group
  • 6.4.19 Viessmann Group
  • 6.4.20 WaterFurnace International Inc.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment