|01-11-2019 02:35 PM CET - Energy & Environment||
Expecting Massive Growth for Germany Heat Pump Market Growth Opportunities and Forecast to 2024 | Top Brands Trane, Viessmann, Danfoss, Toshiba, Carrier Corporation, Vaillant Group
Press release from: Global Market Insights, Inc.
Germany Heat Pump Market will exceed USD 700 Million by 2024, as reported in the latest study by Global Market Insights, Inc. Availability of constant ground temperature along with emerging demand for energy efficient systems to reduce electricity consumption across buildings will drive the Germany heat pump market share. Growing concern to reduce fossil fuel dependency along with volatile prices are some of factors positively influencing the demand for energy efficient units across the nation. Several programs and incentives including financial assistance, tax rebate, zero interest rate loan have been introduced by policymakers to promote the adoption of sustainable energy efficient systems.
Increasing concern to minimize heat consumption from fossil driven systems to curb greenhouse gas emissions will propel the heat pump market across Germany. Regulators Across the country in line with the Climate Action Plan 2050 have introduced regulation and norms to reduce the GHG emissions. The plan aims to minimize the CO2 emissions over 50% by 2030 from 1990 levels. Furthermore, the energy saving regulations (EnEV) introduced in 2009, sets energy standards for retrofitting and construction of commercial and residential buildings.
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Geothermal heat pump market in 2017 witnessed an annual installation of over 25 ‘000 units. Ongoing technological innovation in system design to improve efficiency, reduce installation cost, heat loss, and energy consumption will positively sway the industry dynamics. For instance, according to Department of Energy, the geothermal heat pump can reduce the annual energy consumption by 30% to 60%. In addition, ability to deliver cooling or heating across residential and commercial establishments by utilizing water or ground temperature will further enhance the product penetration.
Residential heat pump market is set to witness growth of over 3% by 2024.Increasing investment toward the refurbishment and re-establishment of buildings across the nation along with strengthening purchasing power parity will propel the industry growth. Growing awareness toward benefits of renewable energy systems coupled with shift in trend to improve living standards will further boost product demand.
Commercial heat pump market is anticipated to witness robust growth on account of growing demand for HVAC system that can easily be integrated with conventional systems across the new constructed and existing buildings. The product finds wide application across healthcare, hospitality, retail, logistics & transportation, education and offices.
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Rapid industrialization and urbanization across the nation along with increase in disposable income will stimulate the overall air source heat pump industry growth. Air to water units hold a dominant share subject to the ability to avail an effective water heating solution across the suburban establishments. In addition, limited space requirement, low carbon emissions, cost effectiveness will further complement Germany heat pump market outlook.
Eminent participants across the Germany heat pump market include Carrier Corporation, Daikin, Thermic Energy, Danfoss, Viessmann, Stiebel Eltron, Toshiba, Systemair AB, Vaillant, Glen Dimplex, Bosch Thermotechnology, Wolf, Trane, Modine, Swegon, Weishaupt, NIBE and Solarbayer.
“Germany Heat Pump Market Analysis Report, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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