Europe to record sales of more than 2.4 million units of heat pumps in 2022, concentrated mainly in France, Italy, Sweden, Germany, and Spain. Introduction of strengthened legislation - governing new builds in many European countries fuels the demand for

The report titled "Europe Heat Pump Market Analysis and Forecast, 2019-2028" assesses the regional and European markets based on heat pump type, rated capacity, end user, and region. A comprehensive report provides a detailed historical and future market size with a comprehensive market trend analysis. The heat pump report deals with market share analysis, production capacities of the top companies, an overview of the competition, government regulations, the impact of the Ukraine-Russia war, regional economic scenarios, geopolitical issues, trade embargoes, strategic imperatives, key end users, future plans and strategies, potential growth areas, and competition analysis for the leading and regional manufacturers.

Market Overview and Dynamics: European heat pumps market is primarily driven by faster replacement of existing and inefficient fuel-based boilers

Climate factors, faster replacement of existing and inefficient fuel-based boilers, initiatives schemes in different markets, and technological development are some of the primary factors anticipated to propel the demand for the Europe heat pump market.
The introduction of strengthened legislation governing new builds in many European countries such as general regulation in France such as RT2012, and soaring natural gas prices have raised the specter of cold homes and inflated energy bills for millions of people to overwinter in Europe, where most people rely on gas-fired boilers for heat and hot water is also anticipated to further drive the market during the forecast period.
France is the dominating country in the Europe heat pumps market owing to the resilience of companies that have been able to adapt to changing conditions in order to maintain a high level of activity. Germany, Spain, and Sweden are also estimated to hold the majority of the share. However, Poland is expected to grow at a double-digit growth rate during the forecast period
France is the prominent region for the European heat pump market

According to the Federation of European Heating, Ventilation and Air Conditioning Associations (REHVA), 87% of the European market volume was sold in only ten countries. Leading European heat pump markets in 2021 were France (394,129 units sold; -0.7% growth vs. 2020), Italy (232,834; +12.2%), Germany (140,390; +37.2%), Spain (127,856; -0.2%), and Sweden (107,723; +4.4%).
The Nordic countries show the major market penetration for heat pumps in the building stock and experience also significant shares of the technology in the renovation sector. Furthermore, Sweden, Norway, Denmark, and Finland grew by 677 units. The decrease in Norway (-13 233) is offset by gains in Denmark (5 117), Sweden (4 701), and Finland (4 093).

Segmental Analysis

• Based on type, the water source heat pumps market is expanding at a strong rate. The primary market-driving factor for these heat pumps will be their superior operational efficiency in comparison to other heat pumps.
• Water source heat pump (WHSP) systems are a popular choice for commercial buildings where multiple zones of control are desired. They can also easily be installed in residencies. The usage of water source heat pumps breaks down to regular 60 percent new construction and 40 percent retrofit and replacement.
• Based on end user, the residential heat pump market has been steadily increasing for the last five years in most countries. However, this global figure hides very different situations depending on the type of buildings.
• The top three countries, France, Germany, and Italy accounted for half of the heat pump sales in 2021. Germany, Spain, and Sweden are accompanied by government incentives at both national and local levels.
o Moreover, technology has developed to help make heat pumps an attractive option. For instance, the arrival to the market of optimized high-temperature heat pumps enables the replacement of existing combustion boilers without the need to update or modify existing radiators.

Competition Analysis: Regional Players Dominate the Domestic Markets

Due to the presence of many well-established companies in the Europe Heat Pump sector, there is intense competition. The European heat pump sector is widely spread across all countries with a mix of small, medium-sized - often locally operating - businesses to large multinational companies. The latter especially will have the potential to drive the growth and secure the European-wide deployment of heat pumps.
These players have invested in the Europe heat pump market in order to help the market to grow significantly during the forecast period. Some of the attempts made by these players are mergers and acquisitions
• In August 2022, Enphase Energy Inc, a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems acquired a Germany-based heat pump company GreenCom Networks.
• In August 2020, NIBE Industries AB has signed an agreement to acquire 100% of the shares in the German heat pump manufacturer Waterkotte Gmbh.

Some of the prominent players operating in the Europe heat pumps market include Aermec S.p.A., Viessmann Group, Vaillant Group, WOLF - a company of the Centrotec SE, Bosch, Carrier, Daikin, Denso, Ochsner, Vivreco, Mitsubishi Electric, Trane, Rheem, Evi Heat AB, Argoclima S.p.A, Midea, Enertech AB, KRONOTERM d.o.o, Danfoss, and Johnson Control among others.

RationalStat has segmented the Europe heat pump market on the basis of type, rated capacity, end user, and region
• By Type
o Air/Water
o Air/air
o Ground Source (Geothermal)
o Others (Hybrid etc.)
• Payload
o Up to 10 kW
o 10-20 kW
o 20-30 kW
o 30-100 kW
o 100 - 500 kW
o More than 500 kW+
• By End User
o Residential
o Non-residential
 Business Spaces
 Public Spaces
 Data Centers
 Industrial
• Food
• Others
• By Region
o Western Europe
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe
 Russia
 Poland
 Rest of Eastern Europe

For more information about this report https://store.rationalstat.com/store/europe-heat-pump-market/

RationalStat LLC
Kimberly Shaw, Content and Press Manager
sales@rationalstat.com
Phone: +1 302 803 5429

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

This release was published on openPR.