Heat pumps can halve the CO2 intensity of residential heating while also lowering costs by c10-35% in some cases. This all creates an exciting opportunity for heat pumps in the energy transition. Hence this data-file tracks leading heat pump companies.
The space is competitive, with 20 companies vying for market share. But a key question mark is reliability. So we think companies with good track records may be accumulating a moat, and may be particularly interesting.
Hence our screen focuses in upon the technology leaders with the most concentrated exposure to heat pumps. We have profiled 7 leading public companies and 4 private companies, including two venture stage firms developing particularly exciting concepts.
Concentration versus diversification. Five of the top six companies by market share are diversified electronic giants (Emerson, Honeywell, LG, etc). Pure play heat pump companies are also discussed in the data-file.
The work is informed by tracking 70,000 patents since 2000, focusing in upon 4,000 Western-centric patents from 2017-19, and also considering customer reviews.
Note this screen is mostly focused on air/air heat pumps, aka ‘air conditioners’. For a more detailed review of air/water and ground-source heat pump providers, see this data-file.