Saudi Arabia Heat Pump Market Size & Outlook, 2026-2033
The heat pump market in Saudi Arabia is expected to reach a projected revenue of US$ 875.4 million by 2033. A compound annual growth rate of 9.2% is expected of Saudi Arabia heat pump market from 2026 to 2033.
Revenue, 2025 (US$M)
$439.3
Estimate, 2026 (US$M)
$473.1
Forecast, 2033 (US$M)
$875.4
CAGR, 2026 - 2033
9.2%
Global Market
Related Markets
Saudi Arabia heat pump market highlights
- The Saudi Arabia heat pump market generated a revenue of USD 439.3 million in 2025 and is expected to reach USD 875.4 million by 2033.
- The Saudi Arabia market is expected to grow at a CAGR of 9.2% from 2026 to 2033.
- In terms of segment, air source was the largest revenue generating technology in 2025.
- Geothermal is the most lucrative technology segment registering the fastest growth during the forecast period.
Heat pump market data book summary
| Market revenue in 2025 | USD 439.3 million |
| Market revenue in 2033 | USD 875.4 million |
| Growth rate | 9.2% (CAGR from 2026 to 2033) |
| Largest segment | Air source |
| Fastest growing segment | Geothermal |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Air Source, Water Source, Geothermal |
| Key market players worldwide | Carrier Corporation, Daikin Industries Ltd, Robert Bosch GmbH, Lennox International Inc, Johnson Controls, Inc., Midea Group, Hitachi Ltd, Ingersoll Rand Inc, Rheem Manufacturing, Haier, Panasonic Holdings Corp, Danfoss A/S, Fujitsu Ltd, LG Electronics, SAMSUNG |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.5% of the global heat pump market in 2025.
- Country-wise, Australia is expected to lead the global market in terms of revenue in 2033.
- In Middle East & Africa, Saudi Arabia heat pump market is projected to lead the regional market in terms of revenue in 2033.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 875.4 million by 2033.
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Publish Date: Jan 05, 2026
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Heat Pump Market Scope
Heat Pump Market segmentation & scope
Heat Pump Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Fujitsu Ltd | View profile | 124,055 | Shiodome City Center, 1-5-2 Higashi-Shimbashi, Minato-ku, Tokyo, Japan, 105-7123 | www.fujitsu.com |
| Hitachi Ltd | View profile | 322,525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | www.hitachi.com |
| Panasonic Holdings Corp | View profile | 230,025 | 1006, Oaza Kadoma, Kadoma-shi, Osaka, Japan, 571-8501 | holdings.panasonic |
| Danfoss A/S | View profile | 10001+ | Nordborg, Syddanmark, Denmark, Europe | www.danfoss.com |
| Daikin Industries Ltd | View profile | 107,127 | Umeda Center Building, 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka, Japan, 530-8323 | www.daikin.com |
| Ingersoll Rand Inc | View profile | 18,000 | 525 Harbour Place Drive, Suite 600, Davidson, NC, United States, 28036 | www.irco.com |
| Haier | View profile | 10001+ | Qingdao Shi, Shandong, China, Asia | haier.com/in |
| Lennox International Inc | View profile | 12,600 | 2140 Lake Park Boulevard, Richardson, TX, United States, 75080 | www.lennox.com |
| Rheem Manufacturing | View profile | 5001-10000 | Atlanta, Georgia, United States, North America | www.rheem.com |
| Midea Group | View profile | 10001+ | Beijiao, Guangdong, China, Asia | midea-group.com |
Saudi Arabia Heat Pump Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Heat Pump Market Outlook will help companies and investors design strategic landscapes.
Air Source was the largest segment with a revenue share of 87.59% in 2025.
Horizon Databook has segmented the Saudi Arabia heat pump market based on air source, water source, geothermal covering the revenue growth of each sub-segment from 2021 to 2033.
- Saudi Arabia Heat Pump Market Technology Outlook (Revenue, USD Million , 2021-2033)
- Air Source
- Water Source
- Geothermal
- Saudi Arabia Heat Pump Market Application Outlook (Revenue, USD Million , 2021-2033)
- Residential
- Industrial
- Commercial
- Saudi Arabia Heat Pump Market Capacity Outlook (Revenue, USD Million , 2021-2033)
- Upto 10 kW
- 10-20 kW
- 20-50 kW
- 50-100 kW
- 100-200 kW
- 200-500KW
- 500-1000KW
- Above 1000 KW
- Saudi Arabia Heat Pump Market Operation Type Outlook (Revenue, USD Million , 2021-2033)
- Electric
- Hybrid
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia Heat Pump Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia Heat Pump Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Saudi Arabia Heat Pump Market, 2021-2033 (US$M)
Saudi Arabia heat pump market statistics, by technology, 2021-2033 (US$M)
