What is the Impact of the COVID-19 Crisis on the Water Source Heat Pump Market?

Water Source Heat Pumps: Introduction

A water source heat pump operates in a manner similar to a regular air pump except the fact that it transfers and extracts heat by using water as a source instead of air
A water source heat pump works by cycling water through a system of pipes that are laid out at the bottom of a water body or reservoir. The water cycled through pipes captures heat from the water body and dissipates it into the house.
Water source heat pumps are used in two kinds of heat pump systems: geothermal systems and water loop systems
Use of water source heat pumps can save a lot of money and protect the environment from harmful emissions

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Key Drivers of Global Water Source Heat Pump Market

Water source heat pump systems are used in commercial buildings, such as shopping malls, hotels, and libraries, which require different temperature zones. Some of these buildings require cooling, while others require heating. Thus, the building & construction industry is a major customer of water source heat pumps.
Governments have imposed regulations on developers regarding zero carbon emissions from construction. As per these regulations, a whole-life carbon assessment should be conducted for all construction projects. Use of devices with low carbon emissions, such as water source heat pumps, proves highly useful to meet these regulations imposed on developers. This, in turn, is projected to drive the global water source heat pump market during the forecast period.
Onshore oil and gas service companies operate under harsh and extreme climatic conditions. Ground source or water source heat pumps can operate under these conditions.
Key Restraints of Global Water Source Heat Pump Market:
Water source heat pumps need to be located close to a conditioned space, where it can generate radiated sound. However, different measures have been practiced to reduce this radiated sound to acceptable decibel levels.
A water source heat pump requires an individual condensate piping line to be run from the unit
With insufficient water supply, a water source heat pump lowers the temperature of the water to the point at which the system would not run much efficiently or would get dysfunctional. The more the heat needs to be generated, the larger the water source required.

Major Developments

In January 2019, Vital Energi announced its plans to start working on Scotland’s first major water-source heat pump. Vital Energi would deliver the pump, which would be installed at the GBP-250-Mn Queen’s Quay regeneration project in Clydebank, Scotland. The GBP-15-Mn energy project would provide heat for the area’s homes, businesses, and a few public buildings.
On January 2019, The Whalen Co. introduced the Closetline CAS packaged heat pump. Its capacities range from 0.5 tons to 5.0 tons, with 13.5 or 17.0 EER (Energy Efficient Ratio) at WLHP conditions in a compact cabinet designed for ease of service.
Asia Pacific to Hold a Major Share of Global Water Source Heat Pump Market
Based on region, the global water source heat pump market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
Asia Pacific dominates the global market and the trend is estimated to continue during the forecast period also, due to rapid urbanization and industrialization in major economies such as China, South Korea, and India.
Initiatives for shift toward renewable energy sources from the conventional energy by governments in countries of Asia Pacific are expected to have a positive impact on the global market for water source hear pumps during the forecast period

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Key Players Operating in Global Market:
Some of the key players operating in the global water source heat pump market are:

ClimateMaster Inc.
Mississippi Power
Energy Star
Water Furnace International Ltd.
Florida Heat Pump Manufacturing
Bryant Heating & Cooling Systems
Johnson Controls
Mc Quay International
Carrier
Trane
Dunham Bush
Daikin
STIEBEL ELTRON
CIAT
Fujitsu
Vital Energi
Danfoss Groupe
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