1. Global Residential Heat Pump Compressor Market Revenue Analysis by Company
Between 2018 and 2023, the revenue of the global residential heat pump compressor market showed an increasing trend. During this time, Copeland led the way in 2018 with a revenue of $747.3 million, followed by annual growth to reach $1312.1 million in 2023. Mitsubishi Electric followed with revenue of $623.3 million in 2018 and increased to $1139.1 million in 2023. Daikin also showed steady growth during this period, from $544.8 million in 2018 to $911.1 million in 2023. Trane, Panasonic, Johnson Controls-Hitachi Air Conditioning, LG, GMCC, and Shanghai Highly Group have also shown year-over-year growth. Overall, the revenue of residential heat pump compressors from all major manufacturers has shown positive growth over the past six years, reflecting the expansion of the market and the development of the industry.
Table Global Residential Heat Pump Compressor Revenue (M USD) by Manufacturer (2018-2033)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Copeland | 747.3 | 784.6 | 876.1 | 1089.3 | 1283.1 | 1312.1 |
Mitsubishi Electric | 623.3 | 669.0 | 726.0 | 906.1 | 1042.0 | 1139.1 |
Daikin | 544.8 | 593.1 | 631.0 | 763.7 | 878.3 | 911.1 |
Trane | 303.4 | 335.0 | 365.4 | 455.9 | 523.4 | 563.8 |
Panasonic | 178.3 | 196.5 | 220.0 | 261.6 | 310.1 | 331.5 |
Johnson Controls-Hitachi Air Conditioning | 114.5 | 120.1 | 133.1 | 157.9 | 186.0 | 190.6 |
LG | 88.2 | 94.3 | 102.6 | 121.7 | 139.8 | 142.9 |
GMCC | 62.6 | 70.0 | 79.7 | 96.2 | 111.2 | 114.5 |
Shanghai Highly Group | 46.5 | 50.2 | 57.2 | 70.4 | 85.0 | 87.5 |
Others | 1154.3 | 1269.0 | 1381.6 | 1719.2 | 1996.4 | 2090.3 |
Total | 3863.3 | 4181.8 | 4572.6 | 5641.9 | 6555.3 | 6883.4 |
2. Copeland
Copeland is a global climate technologies company engineered for sustainability. Copeland creates sustainable residential, commercial and industrial spaces through HVACR technologies. Copeland maintains the integrity of goods throughout the cold chain.
Copeland manufacturer and distributor of compressors intended for the residential, commercial and industrial sectors. The company manufactures condensing units, hydrofluorocarbon products and refrigerants and scroll compressors for use in heat pumps, refrigeration and air conditioning, thereby improving energy efficiency while reducing carbon emissions.
Table Copeland Basic Information
Item | Description |
Company Name | |
Website | www.copeland.com |
Established Time | 1921 |
Headquarters | USA |
Market Distribution | Worldwide |
Table Copeland Product Portfolio
Copeland Scroll ZRK5 compressor has been built upon the proven Copeland Scroll platform and over 30 years of scroll technology development. |
From 2018 to 2023, Copeland Corporation experienced a steady increase in the sales of residential heat pump compressors, with the number of units sold growing from 664 thousand in 2018 to 1100 thousand in 2023. The price per unit also increased over the years, starting at $1125 in 2018 and reaching $1193 in 2023. Consequently, the revenue generated from these sales rose from $747.3 million in 2018 to $1312.1 million in 2023. Despite some fluctuations in the gross margin percentage, which was 32.96% in 2018 and 33.11% in 2023, the overall trend indicates a healthy growth in both sales and revenue for Copeland in the residential heat pump compressor market
Table Copeland Residential Heat Pump Compressor Sales, Price, Revenue, Gross Margin 2018-2023
Copeland | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Sales (K Units) | 664 | 702 | 778 | 930 | 1065 | 1100 |
Price (USD/Unit) | 1125 | 1118 | 1126 | 1171 | 1205 | 1193 |
Revenue (M USD) | 747.3 | 784.6 | 876.1 | 1089.3 | 1283.1 | 1312.1 |
Gross (M USD) | 246.3 | 267.5 | 305.7 | 332.4 | 402.3 | 434.4 |
Gross Margin | 32.96% | 34.09% | 34.89% | 30.51% | 31.36% | 33.11% |
3. Mitsubishi Electric
Mitsubishi Electric is one of the world’s leading names in the manufacture and sales of electrical and electronic products and systems used in a broad range of fields and applications.
Businesses include Public Utility Systems, Energy Systems, Defense & Space Systems, Factory Automation Systems, Automotive Equipment, Building Systems, Air Conditioning Systems & Home Products, Information Systems & Network Services, Semiconductor & Devices.
Table Mitsubishi Electric Basic Information
Item | Description |
Company Name | Mitsubishi Electric |
Website | www.mgc.com.cn |
Established Time | 1921 |
Headquarters | Japan |
Market Distribution | Worldwide |
Table Mitsubishi Electric Product Portfolio
Compressor |
A compressor is a mechanical device that increases gas density and thereby gas pressure. According to different working principles, compressors can be divided into: power compressors and positive displacement compressors, which are widely used in production and life; according to different ways of reducing gas volume, positive displacement compressors can be divided into reciprocating compressors and rotary compressors. |
From 2018 to 2023, Mitsubishi Electric demonstrated a consistent upward trend in the sales of residential heat pump compressors, with the number of units sold increasing from 584 thousand in 2018 to 973 thousand in 2023. The price per unit experienced some fluctuations but generally increased, starting at $1067 in 2018 and reaching $1171 in 2023. This led to a significant rise in revenue, from $623.3 million in 2018 to $1139.1 million in 2023. The gross margin fluctuated over the years, with a high of 36.31% in 2018 and a low of 32.33% in 2022, but it managed to recover to 34.52% by 2023. Overall, Mitsubishi Electric has shown a robust performance in the residential heat pump compressor market.
Table Mitsubishi Electric Residential Heat Pump Compressor Sales, Price, Revenue, Gross Margin 2018-2023
Mitsubishi Electric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Sales (K Units) | 584 | 635 | 683 | 801 | 900 | 973 |
Price (USD/Unit) | 1067 | 1054 | 1063 | 1132 | 1158 | 1171 |
Revenue (M USD) | 623.3 | 669.0 | 726.0 | 906.1 | 1042.0 | 1139.1 |
Gross (M USD) | 226.4 | 240.8 | 268.7 | 293.0 | 340.4 | 393.2 |
Gross Margin | 36.31% | 35.99% | 37.01% | 32.33% | 32.67% | 34.52% |
4. Daikin
Daikin has expanded its business with air conditioning, fluorochemicals, and filters as its pillars. Daikin manufactures air conditioners and refrigerants. The company provides an array of products and technologies related to air-conditioning, refrigeration systems, oil hydraulics, defense systems, chemicals, and other electronics. The company’s air conditioners are widely used in residential, commercial, and industrial applications. It also offers chemical products such as fluoroplastics, chemical engineering machinery, fluorocarbons, and fine chemical products. The company offers industrial hydraulic equipment and machinery, mobile hydraulic equipment, components for guided missiles and oxygen therapy equipment.
With the acceleration of global development including Japan, the United States, China, Asia/Oceania, Europe, and other countries, business has grown to more than 170 countries. Utilizing a market-centered local production strategy that manufactures in locations where market needs exist, the number of production bases totals more than 110 global locations. Overseas sales account for 83% of overall sales as Daikin continues to grow as a global manufacturer.
Table Daikin Basic Information
Item | Description |
Company Name | Daikin |
Website | www.hvacrcompressor.com |
Established Time | 1924 |
Headquarters | Japan |
Market Distribution | Worldwide |
Table Daikin Product Portfolio
| Heat pumpsEvery daikin heat pump is efficient and dependable, offering worry-free comfort. Daikin heat pumps utilize a scroll compressor design with fewer moving parts and greater dependability. Scroll compressor By adopting advanced vortex technology, we always maintain the industry’s first high efficiency. By operating smoothly, “powerful power” and. A new scroll compressor with “quiet operation” and further improved energy efficiency. Multi-connected scroll compressor Daikin compressor’s unique multi-connection technology (oil level control, refrigerant control technology) has created highly reliable multi-connection air conditioners for buildings. B-type series high-efficiency scroll compressor Industry’s highest level of efficiency High efficiency is achieved by using high-precision processing, unique assembly technology and oil film sealing technology. The best level of silence in the industry The non-contact structure of moving and static disks achieves a high level of silence and low vibration. High reliability and long life Because scroll compressors have fewer moving parts, fewer repeated impacts, and low sliding speeds, they have high reliability and long service life. Wide operating voltage range The voltage design suitable for the chinese market ensures that the compressor can operate normally and safely within ±10%. Excellent value for money Simplify the design of the air conditioning system, reduce the design load, reduce the overall cost, and improve market competitiveness. G-type series high-efficiency scroll compressor High efficiency Adopt high and low pressure chambers to maximize thermal insulation of inhaled gases Adopting an axial flexible structure, the sealing technology produced by the oil film of the flexible structure Adopt asymmetric scroll structure, asymmetric scroll structure High reliability Adopt high and low pressure cavity structure, strong liquid impact resistant flexible structure It adopts an axial flexible structure and is highly adaptable to low noise and ambient temperature. Use dry bearings D-type series high-efficiency scroll compressor Three elements of high efficiency Adopt optimal air distribution structure Using asymmetric scrolls Adopts fixed scroll with low deformation Three major elements of high reliability Adopt the best cooling structure for the motor Using rolling bearings Using dry bearings Application D-type compressors are used in small box water-cooled units. It is used with a fan coil system unit or air handling equipment combination. It is used in air conditioners in offices, hotels, restaurants, hospitals and devices that supply industrial cold water. Features of variable frequency series high-efficiency scroll compressors The world’s first use of 400v motors Using non-contact scroll and fixed eccentricity Using dry bearings and using a positive displacement oil pump for oil supply Adopts small cylinder and tripod chassis Suitable for commercial power supply Low noise, low vibration High reliability Small size and light weight Low oil cycle |
From 2018 to 2023, Daikin Corporation’s residential heat pump compressor sales experienced a gradual increase, with units sold rising from 509 thousand in 2018 to 789 thousand in 2023. The price per unit also saw an upward trend, growing from $1071 in 2018 to $1155 in 2023. This led to a substantial increase in revenue, from $544.8 million to $911.1 million over the same period. However, the gross margin fluctuated; it started at 34.51% in 2018, dipped to 30.23% in 2022, and slightly recovered to 32.17% by 2023. Despite these fluctuations, Daikin’s overall performance in the residential heat pump compressor market showed consistent growth, indicating a strong market presence and product competitiveness.
Table Daikin Residential Heat Pump Compressor Sales, Price, Revenue, Gross Margin 2018-2023
Daikin | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Sales (K Units) | 509 | 543 | 576 | 665 | 751 | 789 |
Price (USD/Unit) | 1071 | 1092 | 1096 | 1149 | 1169 | 1155 |
Revenue (M USD) | 544.8 | 593.1 | 631.0 | 763.7 | 878.3 | 911.1 |
Gross (M USD) | 188.0 | 200.6 | 219.8 | 230.9 | 270.3 | 293.1 |
Gross Margin | 34.51% | 33.82% | 34.84% | 30.23% | 30.77% | 32.17% |
