Heat Pump Market Gains Momentum in Auckland and U.S. New Homes

In Auckland, New Zealand, the HVAC sector is expanding rapidly, reaching an estimated NZ$2.3 billion in revenue in 2024 with 1,203 firms and a 3.2% annual growth rate since 2019. Providers such as Happy Air Heat Pumps are broadening commercial and residential offerings to meet rising demand from property developers, managers and homeowners, driven by the city’s high humidity and the need for efficient climate control.

In the United States, heat pumps are approaching parity with traditional forced‑air furnaces in newly built homes, accounting for 46% of heating installations compared with 47% for furnaces. Gas heating fell to its lowest share since 1985, appearing in only 38% of 2024 new‑construction units. Overall electric heating rose to a record 61% of new‑home installations, reflecting rising utility costs and growing policy focus on energy affordability.

Both markets illustrate a broader shift toward electric heat‑pump technology as consumers and builders seek lower‑cost, lower‑emission heating solutions.