Press release
Heat Pump Market is Estimated to Reach USD 108.9 billion by 2030: Cognitive Market Research
Heat Pump Market is Estimated to Reach USD 108.9 billion by 2030: Cognitive Market Research
- A heat pump is a device that transfers heat from one location to another, typically for the purpose of heating or cooling a space. It is essentially an air conditioner that can run in reverse, allowing it to both heat and cool a space.
Summary:
• The Global Heat Pump Market is projected to grow at a CAGR of 7.2% during the forecast period of 2023-2030.
• The growing number of household units, increasing environmental concerns, and increasing demand for energy-efficient and cost-effective heating solutions are the major driving factors for the growth of the Heat Pump market.
• Asia Pacific accounted for the largest market share in the Global Heat Pump Market.
To know more The Heat Pump Market statistics click here: https://www.cognitivemarketresearch.com/heat-pumps-market-report
Market Dynamics:
- The growing number of household units, increasing environmental concerns, and increasing demand for energy-efficient and cost-effective heating solutions are driving the growth of the Global Heat Pump Market. Heat pumps are seen as a more environmentally friendly option compared to traditional heating and cooling systems, as they reduce carbon emissions and help to combat climate change. Thus, the use of a heat pump reduces carbon emissions supporting the growth of the market.
Market Segementation:
- Technology:
• Water Source
• Air Source
• Ground Source
Based on Technology, Air Source Segment held the major market share in the year 2022 owing to its advantages such as high efficiency, low maintenance, durability, and lower carbon footprint.
- Refrigerant Type:
• R134a
• R407c and R410a
• R600 and R600a
• R717
Based on Refrigerant Type, the R407c and R410a refrigerant types accounted for the largest share in the year 2022 owing to their properties. It boosts the system's efficiency and cost-effectiveness, and it absorbs and releases heat more effectively.
- Capacity:
• 2-ton heat pump
• 3-ton heat pump
• 4-ton heat pump
• Others
- Application:
• Commercial
• Residential
• Industrial
Based on the Application, the Residential segment is anticipated to register the largest share owing to the increasing residential sector worldwide and increasing government initiatives to reduce air pollution. Heat pumps are an environmentally friendly option compared to traditional heating and cooling systems, as they reduce carbon emissions and help to combat climate change.
- Competitive Analysis for Heat Pump Market: Bosch, A.O.Smith, Mitsubishi Electric, PHNIX, Kubler Group, Deron, Gree, Haier, NIBE Industrier AB, Climatemaster, Kensa, Trane, Daikin McQuay, Baxi, Danfoss Heat Pump, Carrier.
Get free sample pages of latest published Heat Pump Market Report: https://www.cognitivemarketresearch.com/heat-pumps-market-report
Asia Pacific is a leading region of the Heat Pump market.
- Asia Pacific region accounted for the largest share and is anticipated to grow at the fastest rate during the forecast period of analysis. This is attributed to the increasing population, growing infrastructural development, and rapid urbanization is anticipated to boost the growth of the Heat Pump Market in this region.
News:
- Viessmann invested €200m in a new heat pump factory
In July 2022, Viessmann invested €200m to expand and partially rebuild its existing factory in Poland to create a new heat pump logistics center. Followed by this news the company announced recent news that the German manufacturer was to invest €1bn over the next three years to extend its heat pump and green climate solutions portfolio.
NIBE acquired English Go Geothermal
In August 2021, NIBE Industrier AB acquired 50% of the shares in Go Geothermal Ltd and the remaining shares within a five-year period. This acquisition strengthens its position in the rapidly growing British market for heat pumps, also with its CTC brand.
Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Heat Pumps Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Heat Pumps Market Segmentation
1.5.1 Heat Pumps Market Regional Fragmentation
1.5.1 Heat Pumps Market Players
• 1.6 Report Duration
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Heat Pumps Market
• 3.1 Global Heat Pumps Market Size 2018 - 2030, (USD Million)
• 3.2 Global Heat Pumps Market Statistics 2022: Snapshot
Chapter 4 Global Heat Pumps Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Heat Pumps Market by Type Segmentation Analysis (2018-2030)
Chapter 9 Global Heat Pumps Market by Application Segmentation Analysis (2018-2030)
Chapter 10 Global Heat Pumps Market Regional Analysis
Chapter 11 North America Heat Pumps Market Outlook (2018 - 2030)
Chapter 12 Europe Heat Pumps Market Outlook (2018 - 2030)
Chapter 13 Asia Pacific Heat Pumps Market Outlook (2018 - 2030)
Chapter 14 Latin America Heat Pumps Market Outlook (2018 - 2030)
Chapter 15 Middle East and Africa Heat Pumps Market Outlook (2018 - 2030)
Chapter 16 Research Findings
To know more Heat Pump Market TOC click here: https://www.cognitivemarketresearch.com/heat-pumps-market-report#table_of_contents
Related Reports:
• Residential Air Source Heat Pumps Market- https://www.cognitivemarketresearch.com/residential-air-source-heat-pumps-market-report
• Medical Heat Pumps Market- https://www.cognitivemarketresearch.com/medical-heat-pumps-market-report
• Low Temperature Heat Pumps Market- https://www.cognitivemarketresearch.com/low-temperature-heat-pumps-market-report
• Geothermal Heat Pumps Market- https://www.cognitivemarketresearch.com/geothermal-heat-pumps-%28ghps%29-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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Illinois, 60602
United States
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Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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