Regulatory Landscape of the Heat Pump Market The Heat Pump Market is predicted to reach USD 132.55 billion with a CAGR of 10.3% by 2030. Heat pump refers to a device that transfers heat from a colder area to a warmer area by using mechanical energy. Unlike its name, heat pump offers both heating and cooling capabilities that adapt to the requirements of the environment. In heating mode, it extracts warmth from external sources such as air, ground, or water, directing it indoors. In cooling mode, it removes heat from indoor air and releases it outdoors. The advantage of heat pump lies in its capacity to provide both heating and cooling functions. The versatile functioning of heat pumps not only ensures comfortable indoor environments but also helps reduce energy consumption and greenhouse gas emissions that makes heat pumps a more sustainable choice for residential and commercial heating and cooling needs. Catch the latest updates: https://www.nextmsc.com/report/heat-pump-market