Canada Heat Pump Water Heater Market (2025-2031) | Forecast, Segmentation, Industry, Size, Trends, Growth, Outlook, Revenue, Share, Value, Analysis & Companies

Name: Canada Heat Pump Water Heater Market (2025-2031) | Trends, Outlook & Forecast
Creator: 6Wresearch
License: https://www.6wresearch.com/privacy-policy
Keywords: Heat Pump Water Heater Market, Canada Heat Pump Water Heater Market, Canada Heat Pump Water Heater Market Revenues, Canada Heat Pump Water Heater Market Share, Canada Heat Pump Water Heater Market Size, Canada Heat Pump Water Heater Market Outlook, Canada Heat Pump Water Heater Market Report, Canada Heat Pump Water Heater Market Competition, Canada Heat Pump Water Heater Market Overview, Canada Heat Pump Water Heater Market Trends, Canada Heat Pump Water Heater Market Forecast

Market Forecast By Type (Air Source, Geothermal), By Storage (Up to 500 L, 500‚œ1000 L, Above 1000 L), By Capacity (Up to 10 kW, 10-20 kW, 20-30 kW, 30-100 kW, 10‚œ150 kW, Above 150 kW) And Competitive Landscape

Product Code: ETC5757965	Publication Date: Nov 2023	Updated Date: Jan 2026	Product Type: Market Research Report
Publisher: 6Wresearch	Author: Sumit Sagar	No. of Pages: 60	No. of Figures: 30	No. of Tables: 5

Canada Heat Pump Water Heater Market: Import Trend Analysis

The Canada heat pump water heater market witnessed a slight increase in imports from 2020 to 2024, with a CAGR of 0.50%. However, there was a notable decline in import growth in 2024, with a year-on-year rate of -23.84%, which impacted the overall import trend during this period.

Canada Heat Pump Water Heater Market: Import Trend Analysis

Canada Heat Pump Water Heater Market Overview

The heat pump water heater market in Canada is gaining traction as energy-efficient solutions become more prevalent. Government incentives promoting renewable energy technologies and the growing consumer demand for environmentally friendly home heating options are key drivers. The market is also influenced by cold climate adaptations to ensure efficiency in harsh winters.

Drivers of the market

The increasing focus on energy efficiency and environmental sustainability is driving the demand for heat pump water heaters in Canada. Government incentives, rebates, and stricter energy efficiency standards promote the adoption of these energy-saving appliances in both residential and commercial sectors. Rising energy costs and the need for reducing carbon footprints are also significant growth drivers for this market.

Challenges of the market

Adoption barriers pose a challenge in the heat pump water heater market in Canada. High initial costs and the need for consumer education on energy-saving benefits hinder widespread use. Furthermore, the effectiveness of heat pumps in colder climates can be a limiting factor for expansion in certain regions.

Government Policy of the market

Canadas policies for the heat pump water heater market are shaped by the countrys commitment to energy efficiency and reducing carbon footprints in residential and commercial buildings. The government provides incentives and rebates through programs like Canada Greener Homes Initiative, encouraging the adoption of energy-efficient technologies, including heat pump water heaters. Building codes are also evolving to prioritize energy efficiency, with some provinces mandating the use of energy-efficient heating systems in new constructions.

Key Highlights of the Report:

Canada Heat Pump Water Heater Market Outlook
Market Size of Canada Heat Pump Water Heater Market, 2024
Forecast of Canada Heat Pump Water Heater Market, 2031
Historical Data and Forecast of Canada Heat Pump Water Heater Revenues & Volume for the Period 2021-2031
Canada Heat Pump Water Heater Market Trend Evolution
Canada Heat Pump Water Heater Market Drivers and Challenges
Canada Heat Pump Water Heater Price Trends
Canada Heat Pump Water Heater Porter`s Five Forces
Canada Heat Pump Water Heater Industry Life Cycle
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By Type for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By Air Source for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By Geothermal for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By Storage for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By Up to 500 L for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By 500???1000 L for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By Above 1000 L for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By Capacity for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By Up to 10 kW for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By 10-20 kW for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By 20-30 kW for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By 30-100 kW for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By 10???150 kW for the Period 2021-2031
Historical Data and Forecast of Canada Heat Pump Water Heater Market Revenues & Volume By Above 150 kW for the Period 2021-2031
Canada Heat Pump Water Heater Import Export Trade Statistics
Market Opportunity Assessment By Type
Market Opportunity Assessment By Storage
Market Opportunity Assessment By Capacity
Canada Heat Pump Water Heater Top Companies Market Share
Canada Heat Pump Water Heater Competitive Benchmarking By Technical and Operational Parameters
Canada Heat Pump Water Heater Company Profiles
Canada Heat Pump Water Heater Key Strategic Recommendations

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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 Canada Heat Pump Water Heater Market Overview

3.1 Canada Country Macro Economic Indicators

3.2 Canada Heat Pump Water Heater Market Revenues & Volume, 2021 & 2031F

3.3 Canada Heat Pump Water Heater Market - Industry Life Cycle

3.4 Canada Heat Pump Water Heater Market - Porter's Five Forces

3.5 Canada Heat Pump Water Heater Market Revenues & Volume Share, By Type, 2021 & 2031F

3.6 Canada Heat Pump Water Heater Market Revenues & Volume Share, By Storage, 2021 & 2031F

3.7 Canada Heat Pump Water Heater Market Revenues & Volume Share, By Capacity, 2021 & 2031F

4 Canada 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 Canada

4.2.2 Government incentives and rebates for energy-efficient appliances

4.2.3 Growing concerns about environmental sustainability and reducing carbon footprint

4.3 Market Restraints

4.3.1 High initial cost of heat pump water heaters compared to traditional water heaters

4.3.2 Lack of consumer awareness about the benefits of heat pump water heaters

4.3.3 Limited availability of skilled professionals for installation and maintenance

5 Canada Heat Pump Water Heater Market Trends

6 Canada Heat Pump Water Heater Market Segmentations

6.1 Canada Heat Pump Water Heater Market, By Type

6.1.1 Overview and Analysis

6.1.2 Canada Heat Pump Water Heater Market Revenues & Volume, By Air Source, 2021-2031F

6.1.3 Canada Heat Pump Water Heater Market Revenues & Volume, By Geothermal, 2021-2031F

6.2 Canada Heat Pump Water Heater Market, By Storage

6.2.1 Overview and Analysis

6.2.2 Canada Heat Pump Water Heater Market Revenues & Volume, By Up to 500 L, 2021-2031F

6.2.3 Canada Heat Pump Water Heater Market Revenues & Volume, By 500? ??1000 L, 2021-2031F

6.2.4 Canada Heat Pump Water Heater Market Revenues & Volume, By Above 1000 L, 2021-2031F

6.3 Canada Heat Pump Water Heater Market, By Capacity

6.3.1 Overview and Analysis

6.3.2 Canada Heat Pump Water Heater Market Revenues & Volume, By Up to 10 kW, 2021-2031F

6.3.3 Canada Heat Pump Water Heater Market Revenues & Volume, By 10-20 kW, 2021-2031F

6.3.4 Canada Heat Pump Water Heater Market Revenues & Volume, By 20-30 kW, 2021-2031F

6.3.5 Canada Heat Pump Water Heater Market Revenues & Volume, By 30-100 kW, 2021-2031F

6.3.6 Canada Heat Pump Water Heater Market Revenues & Volume, By 10? ??150 kW, 2021-2031F

6.3.7 Canada Heat Pump Water Heater Market Revenues & Volume, By Above 150 kW, 2021-2031F

7 Canada Heat Pump Water Heater Market Import-Export Trade Statistics

7.1 Canada Heat Pump Water Heater Market Export to Major Countries

7.2 Canada Heat Pump Water Heater Market Imports from Major Countries

8 Canada Heat Pump Water Heater Market Key Performance Indicators

8.1 Energy efficiency rating improvements in heat pump water heaters

8.2 Number of government incentives and rebates offered for energy-efficient appliances

8.3 Growth in the number of eco-friendly housing projects incorporating heat pump water heaters

9 Canada Heat Pump Water Heater Market - Opportunity Assessment

9.1 Canada Heat Pump Water Heater Market Opportunity Assessment, By Type, 2021 & 2031F

9.2 Canada Heat Pump Water Heater Market Opportunity Assessment, By Storage, 2021 & 2031F

9.3 Canada Heat Pump Water Heater Market Opportunity Assessment, By Capacity, 2021 & 2031F

10 Canada Heat Pump Water Heater Market - Competitive Landscape

10.1 Canada Heat Pump Water Heater Market Revenue Share, By Companies, 2024

10.2 Canada Heat Pump Water Heater Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

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Export potential assessment - trade Analytics for 2030

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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