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Heat Pumps in the US Procurement Price, Data and Insights
Heat pumps are devices that transfer heat energy against a temperature gradient from cooler areas to warmer areas. While air conditioners and refrigerators are familiar examples of heat pumps, the term may refer to space cooling or space heating devices as well. Key buyers of heat pumps include the manufacturing, construction and hospitality sectors, while suppliers are either manufacturers or wholesalers.
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What’s included in this market coverage
IBISWorld's research coverage on the Heat Pumps procurement and pricing environment in the United States includes market dynamics, buyer power scores, supply chain vendors with pricing trends and forecasts.
About this Market
What’s this procurement report about?
This procurement coverage of the Heat Pumps market in the United States includes Air-Source Heat Pumps, Ground-Source Heat Pumps, Ductless Mini-Split Heat Pumps, Hybrid Heat Pumps, Water-Source Heat Pumps and Absorption Heat Pumps. Standard coding in this coverage includes HS-841861-Heat Pumps; Other Than Air Conditioning Machines Of Heading No. 8415, ISIC-2815-Manufacture of ovens, furnaces and furnace burners, NACE-28.25-Manufacture Of Non-Domestic Cooling And Ventilation Equipment, NAICS-333415-Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing and UNSPSC-40101806-Heat pumps.
What common market terminology is included?
Common market terminology included in the Heat Pumps procurement coverage includes Ground Source Heat Pump (GSHP) (A heat pump that extracts heat from the ground.), Air Source Heat Pump (ASHP) (A heat pump that extracts heat from the outside air.), Seasonal Energy Efficiency Ratio (SEER) (The ratio of cooling in British thermal units (BTUs) to the energy consumed in watt-hours.), Coefficient of Performance (COP) (A more universal measurement for heating output. The ratio of heating provided to electrical energy consumed.) and HVAC Equipment (Heating, ventilation and air-conditioning equipment.).
What companies are included as top suppliers?
The top companies covered in the Heat Pumps procurement report as suppliers are Emerson Electric Co., Munich Reinsurance America, Inc., Lennox International Inc., W.W. Grainger, Inc. and Johnson Controls International Plc.
Opportunity Assessment
What’s included in the Opportunity Assessment chapter?
The Opportunity Assessment chapter provides a comprehensive market analysis of the Heat Pumps market in the United States category, including buyer power scoring, market pricing trends, vendor landscape, cost structure, and strategic negotiation levers.
The market pricing trends include the Market Price (2026) per unit, a five year price forecast and a supply chain risk score. Vendor coverage includes a market share and cost structure breakdown.
Analysis includes a comprehensive SWOT analysis of and recent developments impacting the Heat Pumps market environment.
Buyer Power Score
What’s included in the Buyer Power Score chapter?
The Buyer Power Score chapter assesses key components impacting Heat Pumps procurement including the recent price trend, forecast price trend, availability of substitutes, switching costs, product specialization, average vendor risk, market share concentration, supply chain risk, price driver volatility and recent price volatility.
These components generate a Buyer Power Score that ranges from -5 (strongly favoring sellers) to +5 (strongly favoring buyers) plus a recommended strategy for procurement specialists.
Price Environment
What’s included in the Price Environment chapter?
The Price Environment chapter covers detailed pricing analysis and datasets on Heat Pumps market environment. This includes insights into market pricing Market Price (2026), price forecasts, volatility, specialization, substitutes and switching costs.
Datasets in the Price Environment chapter include vendor cost structure, breakdowns of wage rates by geography and specialty, key external economic and labor drivers impacting the market and market pricing models.
Supply Chain & Vendors
What’s included in the Supply Chain & Vendors chapter?
The Supply Chain & Vendors chapter covers the concentration, risk and diversity of the Heat Pumps market. This includes datasets on the market’s top suppliers, detailed analysis on the key sourcing risks and supply chain dynamics, with environmental, social and governance (ESG) considerations and scores.
Business Requirements
What’s included in the Business Requirements chapter?
The Business Requirements chapter covers vendor relationships, qualifications, service level agreements and key performance indicators. These inputs provide insight into the planning process through the buying lead time, vendor relationship and vendor qualifications. The sourcing process include key RFP elements like an organizational overview, project budget, selection criteria, project schedule, proposal format, inventory control, cost containment, regulation, quality control, distribution and key contract clauses.
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Frequently Asked Questions
What is the current market price for Heat Pumps?
The 2026 benchmark market price for Heat Pumps is $9400 per unit. Prices have increased at a CAGR of 2.42 from 2023-26.
Who are the top vendors in the Heat Pumps market?
The top vendors in the Heat Pumps market include Emerson Electric Co., Munich Reinsurance America, Inc., Lennox International Inc., W.W. Grainger, Inc. and Johnson Controls International Plc.
What industries supply the Heat Pumps market?
The top industries supplying the Heat Pumps market are Aluminum Manufacturing in the US, Mining, Oil & Gas Machinery Manufacturing in the US, Iron & Steel Manufacturing in the US, Iron Ore Mining in the US, Metal Pipe & Tube Manufacturing in the US, Gasoline & Petroleum Wholesaling in the US, Engine & Turbine Manufacturing in the US and Engine & Turbine Manufacturing in the US.
What is the supply chain risk for Heat Pumps?
High market concentration increases supplier leverage despite manageable operational risk. The disaster recovery services market is highly concentrated, with a small number of large providers dominating enterprise-grade offerings. Vendor risk is medium, as providers are generally stable but exposed to service complexity and high client dependency. This structure strengthens suppliers' pricing power and reduces buyers' competitive flexibility. Organizations should prioritize multi-year negotiations, regularly benchmark leading providers, and consider multi-vendor or hybrid recovery strategies where feasible to maintain leverage and reduce dependency risk.
What factors affect the price of Heat Pumps?
Demand for heat pumps is primarily driven by energy efficiency concerns, regulatory incentives, and climate conditions, influencing overall market pricing. Increased demand in industries like construction and hospitality can lead to price surges, especially during peak seasons or when government subsidies encourage widespread adoption.
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