CO2 Heat Pump Water Heater Market has been valued at US$ 1.42 billion in the year 2021 and it is estimated to reach US$ 2.45 billion by the year 2027, with a CAGR of 6.88% from 2022 to 2027. CO2 Heat Pump Water Heater Hot Water System uses leading technology to draw energy in from the ambient atmosphere and transfer it into heat. Ozone-friendly refrigerant (CO2) absorbs the heat, which then flows into a compressor, where it's converted into a high-temperature gas; these are the main factors that have considerably increased the demand for the CO2 Heat Pump Water Heater in the market, thereby driving the huge growth of the CO2 Heat Pump Water Heater market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for the CO2 Heat Pump Water Heater in the market are mainly due to the increasing CO2 emissions and implement policies to restrict the emission of greenhouse gases. A heat pump water heater is one of the most promising technologies for reducing greenhouse gas emissions. A heat pump water heater offers an energy-efficient way to provide heating through aerothermal and geothermal technologies. Exhaust air, groundwater, and surface water (lake, river, or pond) are the other examples of commonly used heat sources. Heat pump water heaters take the ambient heat from the air, water, and ground at low temperatures and increase the water temperature level; these are the main factors that have considerably increased the demand for the CO2 Heat Pump Water Heater in the market, thereby driving the huge growth of the CO2 Heat Pump Water Heater market in the upcoming years

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The report is segmented as:

CO2 Heat Pump Water Heater Market is segmented on the basis of:

By Product (Air Source and Water Source);

By Application (Residential, Commercial, and Industrial)

Geographical Segmentation:

CO2 Heat Pump Water Heater Market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and the rest of the world. North America has the dominant share in the CO2 Heat Pump Water Heater due to the increase in the number of installation of heat pump water heaters in residential these are the main factors that have considerably increased the demand for the CO2 Heat Pump Water Heater in the, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa will register a slower increase in the CO2 Heat Pump Water Heater Market

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Impact of COVID-19 on the Market

Covid-19 has hugely affected the CO2 Heat Pump Water Heater market growth. The COVID-19 pandemic continues to radically trade that amplify of variety of industries; however, the immediate effect of the outbreak is varied. While some industries will register a visit demand, several others will proceed to remain unscathed and showcase promising increased opportunities. COVID-19 will have an occasional effect on the CO2 Heat Pump Water Heater market.

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