Market Overview The global heat pump market size was valued at USD 97.62 billion in 2024 and is projected to reach from USD 108.4 billion in 2025 to USD 222.88 billion by 2033, growing at a CAGR of 9.2% during the forecast period (2025-2033). The surge is fueled by the increasing adoption of heat pumps for heating, cooling, and hot water needs in...