| Product Code: ETC5757995 | Publication Date: Nov 2023 | Updated Date: Jan 2026 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
The Iceland heat pump water heater market experienced a significant increase in imports from 2020 to 2024, with a Compound Annual Growth Rate (CAGR) of 36.14%. In particular, the year-on-year growth rate for 20232024 was 6.78%, contributing to the overall rise in import volumes during this period.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Iceland Heat Pump Water Heater Market Overview |
3.1 Iceland Country Macro Economic Indicators |
3.2 Iceland Heat Pump Water Heater Market Revenues & Volume, 2021 & 2031F |
3.3 Iceland Heat Pump Water Heater Market - Industry Life Cycle |
3.4 Iceland Heat Pump Water Heater Market - Porter's Five Forces |
3.5 Iceland Heat Pump Water Heater Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Iceland Heat Pump Water Heater Market Revenues & Volume Share, By Storage, 2021 & 2031F |
3.7 Iceland Heat Pump Water Heater Market Revenues & Volume Share, By Capacity, 2021 & 2031F |
4 Iceland Heat Pump Water Heater Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing awareness and adoption of energy-efficient technologies in Iceland |
4.2.2 Government incentives and regulations promoting the use of renewable energy sources |
4.2.3 Growing concern for environmental sustainability and reducing carbon footprint in residential and commercial buildings |
4.3 Market Restraints |
4.3.1 High initial cost of heat pump water heaters compared to traditional water heating systems |
4.3.2 Lack of skilled professionals for installation and maintenance of heat pump water heaters |
4.3.3 Limited consumer knowledge and understanding of the benefits of heat pump water heaters |
5 Iceland Heat Pump Water Heater Market Trends |
6 Iceland Heat Pump Water Heater Market Segmentations |
6.1 Iceland Heat Pump Water Heater Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Iceland Heat Pump Water Heater Market Revenues & Volume, By Air Source, 2021-2031F |
6.1.3 Iceland Heat Pump Water Heater Market Revenues & Volume, By Geothermal, 2021-2031F |
6.2 Iceland Heat Pump Water Heater Market, By Storage |
6.2.1 Overview and Analysis |
6.2.2 Iceland Heat Pump Water Heater Market Revenues & Volume, By Up to 500 L, 2021-2031F |
6.2.3 Iceland Heat Pump Water Heater Market Revenues & Volume, By 500? ??1000 L, 2021-2031F |
6.2.4 Iceland Heat Pump Water Heater Market Revenues & Volume, By Above 1000 L, 2021-2031F |
6.3 Iceland Heat Pump Water Heater Market, By Capacity |
6.3.1 Overview and Analysis |
6.3.2 Iceland Heat Pump Water Heater Market Revenues & Volume, By Up to 10 kW, 2021-2031F |
6.3.3 Iceland Heat Pump Water Heater Market Revenues & Volume, By 10-20 kW, 2021-2031F |
6.3.4 Iceland Heat Pump Water Heater Market Revenues & Volume, By 20-30 kW, 2021-2031F |
6.3.5 Iceland Heat Pump Water Heater Market Revenues & Volume, By 30-100 kW, 2021-2031F |
6.3.6 Iceland Heat Pump Water Heater Market Revenues & Volume, By 10? ??150 kW, 2021-2031F |
6.3.7 Iceland Heat Pump Water Heater Market Revenues & Volume, By Above 150 kW, 2021-2031F |
7 Iceland Heat Pump Water Heater Market Import-Export Trade Statistics |
7.1 Iceland Heat Pump Water Heater Market Export to Major Countries |
7.2 Iceland Heat Pump Water Heater Market Imports from Major Countries |
8 Iceland Heat Pump Water Heater Market Key Performance Indicators |
8.1 Average energy savings achieved by households using heat pump water heaters |
8.2 Number of government incentives and policies supporting the adoption of heat pump water heaters |
8.3 Percentage of new residential and commercial buildings opting for heat pump water heaters |
8.4 Rate of growth in the installation of heat pump water heaters in Iceland |
9 Iceland Heat Pump Water Heater Market - Opportunity Assessment |
9.1 Iceland Heat Pump Water Heater Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Iceland Heat Pump Water Heater Market Opportunity Assessment, By Storage, 2021 & 2031F |
9.3 Iceland Heat Pump Water Heater Market Opportunity Assessment, By Capacity, 2021 & 2031F |
10 Iceland Heat Pump Water Heater Market - Competitive Landscape |
10.1 Iceland Heat Pump Water Heater Market Revenue Share, By Companies, 2024 |
10.2 Iceland Heat Pump Water Heater Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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