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

According to Mordor Intelligence, the thailand heat pump market size was valued at USD 621.32 million in 2025 and estimated to grow from USD 650.41 million in 2026 to reach USD 787.72 million by 2031, at a CAGR of 3.91% during the forecast period (2026-2031).

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, Space Cooling, and More), End User (Residential, Commercial, and Industrial), Installation (New Installation, and Retrofit), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Thailand Heat Pump Market Trends and Insights

Accelerating Electrification Targets in Thailand's Power Development Plan

Thailand's 2026-2050 Power Development Plan lifts the renewable-generation target to 51% by 2037, reinforcing policy pressure to electrify space-conditioning and process-heating loads. Rising industrial electricity demand in the Eastern Economic Corridor is already stressing peak generation windows, and grid operators view heat pumps as controllable loads that can absorb overnight solar surplus. EGAT's Energy Plus rebates link eligibility to five-star labels and smart-grid-ready controls, enabling projects such as Thai Honda Manufacturing's 400 kW unit that trimmed natural-gas use and achieved a 2.4-year payback. Compliance with Bio-Circular-Green Economy disclosure rules further incentivizes manufacturers to switch from gas boilers to heat pumps, ensuring export competitiveness in carbon-constrained market.

Extension of EGAT Time-of-Use Tariffs Favoring Heat Pump Economics

EGAT widened the peak-to-off-peak differential to 1.8 THB (USD 0.055) kWh in 2026, cutting levelized energy costs for load-shifting heat-pump users by up to 40%. Hospitality properties have quickly capitalized; Rayavadee Krabi reported 70% hot-water electricity savings after installing more than 100 inverter units that operate almost exclusively during discounted hours. The pricing spread is also spurring a 4.61% CAGR for hybrid configurations that bypass high-tariff windows entirely, although financing models still grapple with tariff-review uncertainty beyond three-year horizons.

High Up-Front Installation Cost Versus Split-Type HVAC Systems

Typical 10 kW residential units cost 180,000-250,000 THB (USD 5,140-7,140) installed, three times the price of comparable split air conditioners, deterring buyers who discount future savings at double-digit rates. Specialized hydronic piping and multi-trade coordination inflate labor outlays by up to 50%. Only 12% of commercial projects in 2025 leveraged performance-based Energy Service Company contracts, as lenders demand standardized measurement protocols before underwriting shared-savings streams. Import-duty swings of 5-10% on compressors compound budgeting risk, although local suppliers are exploring domestically sourced components to narrow the cost gap.

Other drivers and restraints analyzed in the detailed report include:

1. Energy-Efficiency Fund Rebates for Commercial Buildings
2. Shift Toward Low-GWP Refrigerants Mandated by Ozone Protection Act Amendments
3. Limited Public Awareness of Heat Pump Benefits

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

Segment Analysis

Air source units delivered 62.78% Thailand heat pump market share in 2025, propelled by plug-and-play installation that avoids drilling or cooling-tower tie-ins. Commercial retrofits in mid-rise Bangkok hotels underline the appeal of minimal disruption and rapid commissioning. Water- and ground-source systems together held 28%, clustered in condominiums and industrial plants where higher capital outlays are offset by efficiency gains during Thailand's hot season. Ground-source installations, though just a niche today, are gathering momentum among luxury condominiums marketing geothermal systems as premium amenities.

Hybrid architectures are the quickest-growing slice at a 4.61% CAGR. Industrial users facing peak-tariff exposure value the redundancy of auxiliary gas or electric backup, while data centers view hybridization as a hedge against grid instability. Manufacturers are rolling out enhanced-vapor-injection compressors and variable-speed fans to keep air-source coefficient-of-performance drops below 15% even when ambient temperatures top 38 °C.

Air-to-water platforms captured 48.31% of 2025 revenue, serving space cooling and hot-water loads from a shared hydronic loop. Hotels and hospitals appreciate the single-plantroom footprint and consolidated maintenance contracts. Air-to-air variable refrigerant flow systems held roughly one-third share, thriving where chilled-water distribution is absent. Ground-to-water solutions are expanding at 5.02% CAGR as manufacturers seek stable year-round 40-80 °C process heat while curbing liquefied-petroleum-gas use under Scope 1 disclosure mandates.

Water-to-water designs remain niche but showcase technical frontiers: GR TECH's HEATAQUA simultaneously produces 5 °C chilled water and 80 °C hot water for food plants, demonstrating co-generation potential. Public projects like the Government Complex Bangkok validate hydronic architectures that favor water-based heat-pump roll-outs.

List of Companies Covered in this Report:

1. Stiebel Eltron GmbH & Co. KG
2. Vaillant Group
3. Viessmann Climate Solutions SE
4. Glen Dimplex Group
5. PHNIX Eco-Energy Solution Ltd.
6. Sanden Holdings Corp. (Heat Pump Div.)
7. MasterTherm CZ s.r.o.
8. Mayekawa Mfg. Co., Ltd. (Heat Pump Div.)
9. Mitsubishi Electric Corp.
10. Johnson Controls International plc
11. Aermec S.p.A
12. Alpha Innotec GmbH
13. Daikin Applied
14. Ochsner Warmepumpen GmbH
15. Clivet SpA
16. NIBE Industrier AB (NIBE Climate Solutions)

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 Accelerating Electrification Targets in Thailand's Power Development Plan
  • 4.2.2 Extension of EGAT Time-of-Use Tariffs Favoring Heat Pump Economics
  • 4.2.3 Energy-Efficiency Fund Rebates for Commercial Buildings
  • 4.2.4 Crowding-In of Green Real Estate Investment Trusts
  • 4.2.5 Shift Toward Low-GWP Refrigerants Mandated by Ozone Protection Act Amendments
  • 4.2.6 Growth of Data Centers Requiring High-Efficiency Cooling
• 4.3 Market Restraints
  • 4.3.1 High Up-Front Installation Cost Versus Split-Type HVAC Systems
  • 4.3.2 Limited Public Awareness of Heat Pump Benefits
  • 4.3.3 Fragmented After-Sales Service Network Outside Greater Bangkok
  • 4.3.4 Volatile Import Duties on Key Components Such as Compressors
• 4.4 Industry Value Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces Analysis
  • 4.7.1 Bargaining Power of Suppliers
  • 4.7.2 Bargaining Power of Buyers
  • 4.7.3 Threat of New Entrants
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Intensity of Competitive Rivalry
• 4.8 Impact of Macroeconomic Factors on the Market

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 Stiebel Eltron GmbH & Co. KG
  • 6.4.2 Vaillant Group
  • 6.4.3 Viessmann Climate Solutions SE
  • 6.4.4 Glen Dimplex Group
  • 6.4.5 PHNIX Eco-Energy Solution Ltd.
  • 6.4.6 Sanden Holdings Corp. (Heat Pump Div.)
  • 6.4.7 MasterTherm CZ s.r.o.
  • 6.4.8 Mayekawa Mfg. Co., Ltd. (Heat Pump Div.)
  • 6.4.9 Mitsubishi Electric Corp.
  • 6.4.10 Johnson Controls International plc
  • 6.4.11 Aermec S.p.A
  • 6.4.12 Alpha Innotec GmbH
  • 6.4.13 Daikin Applied
  • 6.4.14 Ochsner Warmepumpen GmbH
  • 6.4.15 Clivet SpA
  • 6.4.16 NIBE Industrier AB (NIBE Climate Solutions)

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment