Comprising a significant amount of total heat pump demand

Demand for air source heat pumps is forecast to increase 2.5 percent per year through 2021 to $2.1 billion. Air source heat pumps comprise a significant amount of total heat pump demand, largely due to the easier installation requirements and lower initial costs than geothermal heat pumps. Air source heat pumps also compete more directly with other HVAC equipment and are a viable heating and cooling option in most buildings.  Moreover, in many instances, air source heat pumps are a lower cost option than a separately purchased unitary air conditioner and warm air furnace.