Heat Pump Market Size Analysis by Top Key Players NIBE, Wolf, Kensa Heat Pumps, Glen dimplex, Bosch Thermotechnology, Green Planet Supply Technologies, Earthlinked Technologies, Danfoss, Trane, Daikin, Nortek, Solarbayer, Finn Geotherm, Stiebel Eltron
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Heat Pump Market is predicted to surpass USD 60 billion by 2025. Increasing demand for cost effective, noiseless and energy efficient space conditioning systems to reduce electricity consumption across the residential and commercial apartments will drive the industry growth. For instance, geothermal heat pump (GHP) can reduce electricity consumptions by at least 26% when compared with gas boiler. Stringent government norms to reduce carbon footprints along with volatile fossil fuel prices are some of the factors enhancing the adoption of energy efficient systems.
Technological innovation in the designing of heat pump systems to reduce cost and improve efficiency will propel the heat pump market share. In October 2018, Viessmann introduced Vitocal 222-A and 200-A air source heat pump with noise reduction technology. The system is suitable for densely built up areas including terraced housing estates and offers low operating cost and high energy efficiency. Furthermore, RHI, green bond, direct grants and zero interest rate loan are some of the incentives introduced to enhance the utilization of renewable resources, will further stimulate the product deployment.
Ground source heat pump market for 2018, was valued over USD 2,800 Million. Less maintenance requirement, ecofriendly, noiseless operation and enhanced reliability are few highlighted parameters which will positively influence the product demand. Capability to utilize constant shallow soil temperature for providing cooling and heating solutions make its adoption viable over other alternates.
Commercial heat pump market. will witness growth owing to positive outlook toward infrastructure sector along with upsurge in demand for retrofit and replacement of existing cooling and heating units. A system ability to integrate with conventional systems across new constructed or existing establishments will provide it competitive edge over other alternates.
Sweden heat pump market will witness growth on account of introduction of net zero emissions building norms coupled with increasing demand for sustainable H&C units. The country has pledge to achieve its net zero GHG emissions targets by 2045 to reduce climate change. Moreover, growing focus to reduce dependency on import and improve energy security coupled with shift in trends to improve living standards will further complement the industry dynamics.
Growing focus to minimize climate change impacts along with increasing electricity prices will drive Germany heat pump market. In 2018, electricity prices in the country reached USD 33.5 per kWh in comparison to USD 26.9 per kWh in 2010. Several acts and regulations have been introduced by regulators to enhance the adoption of sustainable technologies. For instance, Renewable Energies Heat Act has been introduced with an aim to increase renewable energy share in final energy consumption for cooling and heating to 14% by 2020.
Major participants across heat pump industry are NIBE, Wolf, Kensa Heat Pumps, Glen dimplex, Bosch Thermotechnology, Green Planet Supply Technologies, Earthlinked Technologies, Danfoss, Trane, Daikin, Nortek, Solarbayer, Finn Geotherm, Stiebel Eltron, Mitsubishi Electric, Bryant Heating & Cooling Systems, Viessmann, Swegon, OCHSNER Warmepumpen, Carrier, Modine, Swegon, Thermic Energy, Weishaupt, Bard HVAC and Vaillant.
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To study and analyze the global Heat Pump size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Heat Pump by identifying its various subsegments.
Focuses on the key global Heat Pump players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Heat Pump with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Heat Pump submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Table of Contents:
1 Heat Pump Market Overview
2 Manufacturers Profiles
3 Global Heat Pump Market Competition, by Players
4 Global Heat Pump Market Size by Regions
5 North America Heat Pump Revenue by Countries
6 Europe Heat Pump Revenue by Countries
7 Asia-Pacific Heat Pump Revenue by Countries
8 South America Heat Pump Revenue by Countries
9 Middle East and Africa Revenue Heat Pump by Countries
10 Global Heat Pump Market Segment by Type
11 Global Heat Pump Market Segment by Application
12 Global Heat Pump Market Size Forecast (2018-2023)
13 Research Findings and Conclusion
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