What’s driving the water source heat pump market report? |by key players Siemens, Johnson Controls, Carrier, Mitsubishi, Colmac, Climaveneta, LG Electronics, Trane, Viessmann Limited
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The U.S. water source heat pump market will expand on account of growing measures to curb carbon footprint coupled with government initiatives to encourage installation of heat pumps. Rising demand for space heating and cooling along with concerns over energy efficiency will propel the product penetration. According to the U.S. Department of Energy, in 2016, water heating across the residential buildings accounted for 18% of electricity consumption with 4% from commercial buildings.
Water Source Heat Pump Market is set to witness strong growth on account of favorable government initiatives including clean heating & cooling programs, fiscal assistance, and emissions reduction targets to promote the renewable energy systems. For instance, the UK Renewable Heat Incentive (RHI) encourages the adoption of renewable heat technologies amongst households and businesses through financial incentives.
Quick financial paybacks coupled with low energy consumption will propel the water source heat pump market growth. In addition, ability to offer up to 80% less household energy utilization along with low maintenance requirements will complement the industry landscape.
China water source heat pump market is set to witness strong growth on account of strengthening legislative support for clean energy systems. For instance, the Air Pollution Prevention and Control Action Plan in the country, has recommended heat pumps as a clean energy space heating product to reduce GHG emissions. Furthermore, increasing efforts to replace conventional heating units including coal fired boilers, specifically across the Northern China will positively influence the product installation.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Bosch Thermotechnology
• Johnson Controls
• LG Electronics
• Viessmann Limited
Browse Full Report @ https://www.gminsights.com/industry-analysis/water-source-heat-pump-market
Eminent participants across the water source heat pump market include Siemens, Bosch Thermotechnology, Johnson Controls, ClimateMaster, Carrier, Mitsubishi, Colmac, Climaveneta, LG Electronics, Trane, Dimplex, Daikin, and Viessmann Limited amongst others.
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