The global heat pump industry and the future of air source heat pumps is on the cusp of a major transformation. According to a recent Future Market Insights report, the air source heat pump (ASHP) market is projected to grow from USD 62.4 billion in 2025 to USD 239.7 billion by 2035.
Here’s what this means, and why homeowners across Greater London should be aware of the boom in low-carbon heating.
Decarbonisation drives demand
One of the biggest forces behind this growth is the global push to cut carbon emissions. Governments around the world are increasingly targeting building-related emissions, and that means a rapid shift away from traditional gas and oil boilers toward electrified, low-carbon heating solutions, like ASHPs.
ASHPs aren’t just eco-choices any more, they’re becoming core infrastructure for sustainable heating.
Technology gets smarter and more efficient
ASHP technology is evolving quickly, with inverter-driven compressors and variable-speed fans are improving efficiency by up to 40%, even in cold climates.
Smart, IoT-connected heat pumps are also on the rise, giving homeowners remote control, predictive analytics, and energy optimisation.
These improvements make ASHPs more attractive and reliable than ever, and a far cry from older, less efficient versions.
Homeowners are leading the charge
According to the report, residential installations make up 56% of the ASHP market.
Homeowners are increasingly replacing gas boilers with heat pumps, especially in markets with retrofit incentives and strong policy support.
For many households, ASHPs now offer a practical and cost-effective way to make a long-term move toward cleaner energy, particularly when coupled the with grants offered by the UK Government for installing low-carbon heating.
What this means for Greater London homeowners
For our local community these trends are very promising, as increased funding and grant support may make heat pump adoption more attractive. Plus better-performing models from leading names in ASHP technology, such as Baxi, mean the systems are more reliable even in colder months.
Smarter heat pumps can also reduce electricity bills and operate more efficiently, meaning that as ASHPs become mainstream, early adopters could benefit from lower running costs and increased property value.
The heat pump revolution is here
The ASHP market’s projected growth over the next decade suggests that heat pumps are not just a niche technology, they are becoming core infrastructure for a low-carbon future. With smarter systems, stronger policy support, and rapid uptake, heat pumps could transform how we heat our homes.
For anyone considering a heat pump, whether you’re a homeowner or a business, now is a really exciting time. The technology is maturing, the incentives are increasing, and the environmental need has never been more urgent.
If you’re based in Kent, the South East, or across the UK and are interested in exploring ASHPs for your home, don’t hesitate to reach out to us at Harvard Renewables. We’re keeping a close eye on the future of air source heat pumps, and we’re ready to help you take full advantage.
