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Heat Pump Market Revenue & Growth Analysis By Top Manufacturers - NIBE, Wolf, Kensa Heat Pumps, Glen dimplex, Bosch Thermotechnology, Green Planet Supply Technologies
Heat Pump Market
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.
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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.
Market, By Product
• Air Source
• Ground Source
• Water Source
By Application
• Residential
• Single Family
• Multi Family
• Commercial
• Educational Institutes
• Healthcare
• Retail
• Logistics and transportation
• Offices
• Hospitality
• Others
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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.
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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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Arun Hegde
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Global Market Insights, Inc.
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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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