Press release
Heat Pump Market will Generate Massive Revenue to $94.6 billion by 2026 | Daikin Industries Ltd., Glen Dimplex Group, Ingersoll Rand, Melrose Industries
The global heat pump market was valued at $52.3 billion in 2018 and is projected to reach $94.6 billion by 2026, growing at a CAGR of 7.74% from 2019 to 2026.Top Companies Covered in this Report:
Daikin Industries Ltd., Glen Dimplex Group, Ingersoll Rand Plc, Melrose Industries PLC, Mitsubishi Electric Corporation, NIBE Industrier AB, Stiebel Eltron, Vaillant Group, Viessmann Werke GmbH & Co. KG, Panasonic Corporation
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A heat pump is a device that transfers heat energy from one source to another. It is used in both industrial and residential areas. It offers an energy-efficient alternative to furnaces and air conditioners. The heat pumps are used to transfer heat from a cool to a warm space that helps cool the interior temperature.
The global heat pump market is registering significant growth across the globe. The growth of this market is driven by increase in demand for household appliances such as refrigerators and air-conditioners. Furthermore, rise in demand for keeping the house warm in the residential segment due to change in climate conditions fuels the demand for heat pumps. In addition, favorable government regulations to reduce CO2 emission are further complementing the adoption of heat pumps; thereby, contributing to the global market growth. On the other hand, the high cost of installing a heat pump device restrains the growth of this market. Advanced technologies such as dual-source heat pumps are expected to offer growth opportunities to the market. In addition, heat pumps have witnessed high demand for residential applications, which is further expected to offer lucrative growth opportunities to the global heat pump market.
The global heat pump market is segmented on the basis of type, application, and region. Based on type, the market is divided into air-to-air, water source, and geothermal. By application, the market is classified I nto residential, industrial, and commercial. Residential is the largest segment among all due to significant adoption of heat pumps or space heating, cooling, and other applications. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Table Of Content
CHAPTER 1:INTRODUCTION
CHAPTER 2:EXECUTIVE SUMMARY
CHAPTER 3:MARKET OVERVIEW
CHAPTER 4:HEAT PUMP MARKET, BY TYPE
CHAPTER 5:HEAT PUMP MARKET, BY APPLICATION
CHAPTER 6:HEAT PUMP MARKET, BY REGION
CHAPTER 7:COMPETITIVE LANDSCAPE
CHAPTER 8:COMPANY PROFILES:
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