Industrial Air Source Heat Pump Sales

Industrial Air Source Heat Pump Sales Market Outlook

The global industrial air source heat pump sales market is projected to reach approximately USD 12.5 billion by 2035, with a compound annual growth rate (CAGR) of around 8.1% from 2025 to 2035. This significant growth can be attributed to the increasing demand for energy-efficient heating and cooling solutions across various sectors, propelled by the global emphasis on reducing greenhouse gas emissions and transitioning to sustainable energy sources. Furthermore, advancements in heat pump technology are enhancing the efficiency and effectiveness of air source heat pumps, making them an attractive option for both residential and commercial applications. The growing concern regarding energy costs and the need for regulatory compliance are also driving investments in industrial air source heat pumps. As a result, manufacturers are focusing on developing innovative products that meet the evolving needs of consumers and businesses.

Growth Factor of the Market

One of the primary growth factors for the industrial air source heat pump sales market is the escalating demand for renewable energy solutions that can mitigate environmental impacts. As governments around the world implement stricter regulations on carbon emissions, industries are increasingly turning toward air source heat pumps as a viable alternative for traditional HVAC systems. Additionally, the rising costs of fossil fuels are pushing organizations to seek more cost-effective and energy-efficient heating solutions, thereby enhancing the attractiveness of air source heat pumps. Technological advancements are another crucial factor, leading to improved efficiency ratings, lower operational costs, and enhanced performance capabilities of these systems. Furthermore, the expanding awareness regarding climate change and energy conservation is prompting both residential and commercial sectors to adopt air source heat pumps. Lastly, the growth of smart technology integration in HVAC systems is creating opportunities for innovations that can further boost market demand.

Key Highlights of the Market

• Increasing regulatory support for energy-efficient systems and renewable energy solutions.
• Technological advancements leading to enhanced efficiency and performance of air source heat pumps.
• Growing adoption of smart technology and IoT integration in HVAC systems.
• Rising energy costs and concerns about energy security driving demand for efficient solutions.
• Expansion of the residential and commercial sectors, leading to higher demand for sustainable heating and cooling options.

By Product Type

Air-to-Water Heat Pumps :

Air-to-water heat pumps are a prominent segment within the industrial air source heat pump market, primarily used for providing heating and hot water in residential and commercial applications. These systems work by extracting heat from the outside air and transferring it to water, which can then be utilized for space heating or domestic hot water needs. Their efficiency in converting low-temperature heat from the air into a higher temperature source makes them an excellent choice for energy-efficient heating. Furthermore, air-to-water heat pumps can be integrated with underfloor heating systems and radiators, enhancing their versatility across various building types. As a result, their growing acceptance in both new constructions and retrofitting projects is expected to significantly contribute to the market's growth.

Air-to-Air Heat Pumps :

Air-to-air heat pumps are designed to transfer heat between the outdoor and indoor air, providing both heating and cooling solutions for residential and commercial spaces. These systems are particularly popular in regions with moderate climates, where they can effectively maintain indoor comfort levels throughout the year. The increasing emphasis on energy efficiency and the rising costs of conventional heating methods are driving the adoption of air-to-air heat pumps. Moreover, their ability to operate efficiently in varying temperature conditions, along with the incorporation of inverter technology for variable speed operation, is enhancing their market appeal. The growth in retrofit projects and the demand for energy-efficient solutions in existing buildings further bolster the prospects of this product type.

Hybrid Heat Pumps :

Hybrid heat pumps combine the functionality of air source heat pumps with traditional heating systems, offering enhanced flexibility and efficiency. These systems can switch between different heat sources, such as gas or electric, depending on outdoor temperatures and heating demand. This adaptability allows users to optimize energy consumption and reduce costs, making hybrid heat pumps an attractive option for consumers concerned about energy efficiency and operational expenses. The increasing focus on achieving net-zero emissions and transitioning to renewable energy sources is expected to drive the adoption of hybrid heat pumps. Furthermore, their capability to provide both heating and cooling solutions adds to their versatility in various applications, contributing to their growing market share.

Ductless Mini-Split Heat Pumps :

Ductless mini-split heat pumps are gaining traction in the industrial air source heat pump market due to their ease of installation and minimal space requirements. These systems consist of an outdoor compressor unit and one or more indoor air handling units, enabling targeted heating and cooling in specific areas of a building. The absence of ductwork makes them an ideal solution for retrofitting older structures that lack existing ducts. Additionally, ductless mini-split heat pumps are known for their high energy efficiency and ability to provide individualized comfort in different zones of a building. The growing interest in home automation and sustainable living practices is further propelling the demand for this product type, as they align with the preferences of environmentally conscious consumers.

Packaged Heat Pumps :

Packaged heat pumps are complete heating and cooling systems housed in a single unit, making them suitable for commercial and industrial applications where space is limited. These systems can be installed on rooftops or at ground level, providing flexibility in terms of placement and installation. Packaged heat pumps are designed to deliver efficient heating and cooling while minimizing energy consumption. Their compact design and ease of maintenance are contributing to their growing popularity among facility managers and building owners. Furthermore, advancements in packaged heat pump technology, including improved energy efficiency ratings and integration with smart controls, are expected to drive their adoption in various sectors, thereby boosting market growth.

By Application

Industrial Buildings :

In industrial buildings, air source heat pumps play a crucial role in maintaining optimal temperature conditions for various manufacturing processes and equipment. These systems provide a reliable and energy-efficient heating solution that helps reduce operational costs while ensuring the safety and comfort of personnel. Many industrial facilities are implementing air source heat pumps to comply with stringent energy efficiency regulations and reduce their carbon footprint. Additionally, the flexibility and scalability of these systems allow them to adapt to the changing needs of manufacturing processes, making them a preferred choice for many industrial applications. The ongoing trend towards sustainability in the industrial sector is further expected to enhance the demand for air source heat pumps in this application segment.

Commercial Buildings :

Air source heat pumps are increasingly being adopted in commercial buildings due to their ability to provide efficient heating and cooling solutions tailored to the diverse needs of office spaces, retail outlets, and hospitality establishments. The rising focus on energy conservation and minimizing operational costs is driving businesses to invest in advanced heating technologies, leading to a growing demand for air source heat pumps. These systems can be integrated with existing HVAC systems or installed as standalone units, allowing for flexibility in implementation. Additionally, the use of smart technology enables real-time monitoring and control of heating and cooling needs, further enhancing efficiency and comfort within commercial spaces. The market for air source heat pumps in commercial buildings is projected to continue growing as businesses prioritize sustainability and cost-effectiveness.

Residential Buildings :

The residential application segment for air source heat pumps is witnessing significant growth, primarily driven by homeowners seeking energy-efficient heating and cooling solutions. As energy prices rise and environmental awareness increases, more individuals are opting for air source heat pumps as a sustainable alternative to conventional heating systems. These systems are particularly appealing due to their ability to provide consistent comfort while reducing energy consumption and greenhouse gas emissions. Additionally, the availability of government incentives and rebates for energy-efficient home improvements is further boosting the adoption of air source heat pumps in residential applications. With continuous advancements in technology, such as inverter-driven systems, the residential market for air source heat pumps is poised for substantial growth in the coming years.

Government Buildings :

Air source heat pumps are increasingly being implemented in government buildings as part of a broader initiative to promote sustainability and reduce energy consumption. Many government agencies are recognizing the importance of energy-efficient HVAC solutions in achieving their climate goals and are investing in air source heat pump technologies. These systems not only provide effective heating and cooling but also contribute to lower operational costs and reduced carbon emissions. Moreover, the positive impact of air source heat pumps on indoor air quality aligns with government efforts to create healthier working environments. The growing commitment of governments worldwide to sustainability and energy efficiency is expected to drive the demand for air source heat pumps in public sector applications.

Educational Buildings :

In educational buildings, the adoption of air source heat pumps is becoming increasingly prevalent as institutions strive to create comfortable learning environments while minimizing energy costs. These systems offer an efficient solution for heating and cooling classrooms, offices, and common areas, ensuring optimal conditions for students and staff. The rising emphasis on sustainability in educational institutions is driving the demand for energy-efficient technologies, including air source heat pumps. Furthermore, many educational facilities are seeking to reduce their carbon footprint and demonstrate their commitment to environmental stewardship, making air source heat pumps an attractive option. As more schools and universities undergo renovations or new constructions, the market for air source heat pumps in educational buildings is expected to expand significantly.

By Distribution Channel

Direct Sales :

Direct sales represent a significant distribution channel for air source heat pumps, allowing manufacturers to engage directly with customers and provide customized solutions based on specific needs. This approach enables manufacturers to establish strong relationships with customers and better understand their requirements, leading to tailored offerings and enhanced customer satisfaction. Direct sales also facilitate better control over pricing and inventory management, allowing manufacturers to respond promptly to market demands. As end-users increasingly seek reliable heating solutions, the direct sales channel is expected to experience steady growth, further bolstered by the increasing emphasis on energy efficiency and sustainability in heating technologies.

Indirect Sales :

Indirect sales involve the distribution of air source heat pumps through intermediaries such as wholesalers, retailers, and other third-party vendors. This channel is crucial for expanding market reach and providing customers with a variety of options when selecting heating systems. Indirect sales networks often have established relationships with a diverse customer base, enabling manufacturers to tap into new markets and reach customers who may not be aware of air source heat pump solutions. As the demand for energy-efficient heating technologies continues to rise, the indirect sales channel is expected to play a key role in promoting air source heat pumps across various market segments.

Online Sales :

The online sales channel has emerged as a significant avenue for marketing and distributing air source heat pumps in recent years, driven by the increasing popularity of e-commerce. With the convenience of online shopping, consumers are more inclined to explore and purchase heating systems from the comfort of their homes. E-commerce platforms provide customers with the ability to compare different models, read reviews, and access detailed product information, enhancing their purchasing decisions. Additionally, online sales offer manufacturers an opportunity to reach a broader audience and expand their market presence without the constraints of traditional brick-and-mortar retail. As digital marketing strategies evolve and consumer preferences shift towards online shopping, the online sales channel is poised for substantial growth within the air source heat pump market.

Distributor Sales :

Distributor sales play an essential role in the distribution of air source heat pumps, serving as intermediaries between manufacturers and end-users. Distributors often have extensive networks and established relationships within the market, allowing them to effectively reach a diverse customer base. They provide valuable services such as installation support, maintenance, and technical assistance, making it easier for consumers to adopt air source heat pump technologies. As the focus on energy-efficient heating solutions continues to grow, the demand for distributor sales is expected to increase, driven by the need for reliable and knowledgeable partners in the market. These distributors help bridge the gap between manufacturers and customers, facilitating smoother transactions and enhancing market accessibility.

OEM Sales :

OEM (Original Equipment Manufacturer) sales represent a significant distribution channel for air source heat pumps, involving the sale of heating systems by manufacturers who produce components or systems integrated into other products. OEM partnerships enable manufacturers to leverage the brand reputation and distribution capabilities of established companies. This collaboration can lead to increased market penetration and brand recognition, as well as access to new customer segments. As more businesses embrace energy-efficient technologies and seek innovative heating solutions, OEM sales are expected to grow, further expanding the reach of air source heat pumps in various industrial and commercial applications. The synergy between manufacturers and OEMs is likely to drive significant advancements in the air source heat pump market.

By Region

The North American region is poised to dominate the industrial air source heat pump sales market due to a combination of favorable government policies, rising energy costs, and increasing awareness of energy efficiency among consumers. The region is expected to witness a CAGR of approximately 8.5% during the forecast period, driven by significant investments in sustainable HVAC technologies. The United States and Canada are leading the way in adopting air source heat pumps, as both countries emphasize reducing carbon footprints and transitioning to renewable energy sources. The growing construction activities in commercial and residential sectors further bolster the demand for air source heat pumps in North America, contributing to the overall growth of the market.

Europe has established itself as a prominent market for industrial air source heat pumps, with countries like Germany, the United Kingdom, and France showing significant adoption rates. The European market is driven by stringent environmental regulations and ambitious targets for reducing greenhouse gas emissions. Additionally, the European Union is actively promoting the use of renewable energy solutions in heating applications, further accelerating the adoption of air source heat pumps. The region is expected to witness a steady growth rate, supported by government incentives and increasing investments in energy-efficient technologies. As the trend toward sustainable heating solutions continues to gain traction, the European market is likely to remain a key player in the global industrial air source heat pump sales market.

Opportunities

The industrial air source heat pump market is poised for a range of opportunities driven by the evolving energy landscape and technological advancements. One significant opportunity lies in the increasing investment in renewable energy infrastructures, such as solar and wind. By integrating air source heat pumps with renewable energy systems, businesses can create efficient and sustainable heating solutions that optimize energy usage and reduce reliance on fossil fuels. The combination of air source heat pumps with smart home technologies also presents opportunities for enhanced energy management, allowing consumers to monitor and control their heating systems in real-time. As the demand for comprehensive and innovative energy solutions rises, companies can capitalize on these trends to develop advanced products that meet burgeoning consumer expectations.

Another noteworthy opportunity lies in the growing focus on sustainability and climate change mitigation across various sectors. Governments and organizations are increasingly seeking to reduce their carbon footprints and improve energy efficiency, creating a favorable environment for air source heat pump adoption. As businesses prioritize sustainable practices, the demand for energy-efficient heating solutions is expected to soar. Companies involved in developing and distributing air source heat pumps can leverage this trend by offering products that meet environmental standards and help consumers achieve their sustainability goals. Additionally, emerging markets in Asia Pacific and Latin America present untapped avenues for growth, as countries in these regions invest in energy-efficient technologies and infrastructure development.

Threats

Despite the promising growth prospects of the industrial air source heat pump sales market, several threats could hinder its progress. One major concern is the intense competition among manufacturers, which can lead to price wars and reduced profit margins. As more companies enter the market, differentiation becomes increasingly challenging, and businesses may resort to aggressive pricing strategies to capture market share. This trend can undermine the perceived value of air source heat pumps and affect overall product quality. Additionally, fluctuations in raw material prices and supply chain disruptions can pose challenges to manufacturers, impacting production costs and ultimately affecting market prices. As a result, companies must remain vigilant and adaptable to navigate these competitive threats effectively.

A further threat to the market is the potential for technological obsolescence. As advancements in HVAC technologies continue, new alternative heating solutions may emerge, potentially diverting consumer interest away from air source heat pumps. For instance, ground-source heat pumps and other renewable energy technologies may gain traction, presenting a challenge to the traditional air source heat pump market. Manufacturers must stay ahead of technological trends and consumer preferences to maintain a competitive edge. Continuous innovation, research, and development will be essential for companies to sustain their market positions and address the evolving needs of consumers in an increasingly dynamic environment.

Competitor Outlook

• Daikin Industries, Ltd.
• Mitsubishi Electric Corporation
• Trane Technologies plc
• Carrier Global Corporation
• LG Electronics Inc.
• Fujitsu General Limited
• Bosch Thermotechnology
• Samsung Electronics Co., Ltd.
• Panasonic Corporation
• Rheem Manufacturing Company
• York International Corporation
• Gree Electric Appliances, Inc.
• Hitachi, Ltd.
• Johnson Controls International plc
• Emerson Electric Co.

The competitive landscape of the industrial air source heat pump sales market is characterized by the presence of several key players that are actively engaged in product innovation, expansion strategies, and strategic partnerships to enhance their market positions. Leading companies in the market are investing heavily in research and development to develop advanced technologies that improve energy efficiency and performance. Furthermore, many of these firms are focusing on expanding their global presence through mergers and acquisitions, allowing them to tap into new markets and increase their customer base. The competitive dynamics are further influenced by the growing emphasis on sustainability and energy efficiency, compelling manufacturers to align their product offerings with changing consumer preferences and regulatory standards.

Daikin Industries, Ltd. is one of the prominent players in the air source heat pump market, renowned for its extensive range of energy-efficient HVAC solutions. The company has established a strong reputation for innovation, investing heavily in research and development to enhance the performance and efficiency of its heat pump products. Additionally, Daikin's commitment to sustainability is evident in its efforts to reduce the carbon footprint of its manufacturing processes and product offerings. Another major player, Mitsubishi Electric Corporation, is also recognized for its advanced air-to-water and air-to-air heat pump systems, which are widely used in residential and commercial applications. By focusing on energy efficiency and environmental sustainability, Mitsubishi Electric continues to be a leader in the HVAC market, offering solutions that meet the evolving needs of consumers.

Carrier Global Corporation is another key player in the industrial air source heat pump market, providing a wide array of heating, cooling, and refrigeration solutions. The company's commitment to sustainable practices and energy-efficient technologies has positioned it as a leader in the HVAC sector. Carrier's innovative product offerings, such as hybrid and ductless mini-split heat pumps, highlight its adaptability to changing market trends. Additionally, Trane Technologies plc is recognized for its comprehensive range of HVAC solutions, including air source heat pumps that cater to diverse customer needs. The company's focus on delivering high-performance products while minimizing environmental impact aligns with the growing demand for energy-efficient solutions. As competition intensifies, these key players will continue to drive innovation and shape the future of the industrial air source heat pump market.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Hitachi, Ltd.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 LG Electronics Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Emerson Electric Co.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Panasonic Corporation
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Bosch Thermotechnology
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Trane Technologies plc
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Daikin Industries, Ltd.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Fujitsu General Limited
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Carrier Global Corporation
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Rheem Manufacturing Company
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Samsung Electronics Co., Ltd.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Gree Electric Appliances, Inc.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 York International Corporation
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Mitsubishi Electric Corporation
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Johnson Controls International plc
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Industrial Air Source Heat Pump Sales Market, By Application
    • 6.1.1 Industrial Buildings
    • 6.1.2 Commercial Buildings
    • 6.1.3 Residential Buildings
    • 6.1.4 Government Buildings
    • 6.1.5 Educational Buildings
  • 6.2 Industrial Air Source Heat Pump Sales Market, By Product Type
    • 6.2.1 Air-to-Water Heat Pumps
    • 6.2.2 Air-to-Air Heat Pumps
    • 6.2.3 Hybrid Heat Pumps
    • 6.2.4 Ductless Mini-Split Heat Pumps
    • 6.2.5 Packaged Heat Pumps
  • 6.3 Industrial Air Source Heat Pump Sales Market, By Distribution Channel
    • 6.3.1 Direct Sales
    • 6.3.2 Indirect Sales
    • 6.3.3 Online Sales
    • 6.3.4 Distributor Sales
    • 6.3.5 OEM Sales

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Industrial Air Source Heat Pump Sales Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Industrial Air Source Heat Pump Sales market is categorized based on

By Product Type

• Air-to-Water Heat Pumps
• Air-to-Air Heat Pumps
• Hybrid Heat Pumps
• Ductless Mini-Split Heat Pumps
• Packaged Heat Pumps

By Application

• Industrial Buildings
• Commercial Buildings
• Residential Buildings
• Government Buildings
• Educational Buildings

By Distribution Channel

• Direct Sales
• Indirect Sales
• Online Sales
• Distributor Sales
• OEM Sales

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Daikin Industries, Ltd.
• Mitsubishi Electric Corporation
• Trane Technologies plc
• Carrier Global Corporation
• LG Electronics Inc.
• Fujitsu General Limited
• Bosch Thermotechnology
• Samsung Electronics Co., Ltd.
• Panasonic Corporation
• Rheem Manufacturing Company
• York International Corporation
• Gree Electric Appliances, Inc.
• Hitachi, Ltd.
• Johnson Controls International plc
• Emerson Electric Co.