Global Heat Pump Market - 2022-2029

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,350	220 Pages	DataM Intelligence 4Market Research LLP	June, 2022	DTAM17210439

Best Price Guarantee
Price	from $4,350
Length	220 Pages
Publisher	DataM Intelligence 4Market Research LLP
Published Date	June, 2022
SKU	DTAM17210439

Global Heat Pump Market - 2022-2029

Market Overview

The global heat pump market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.

A heat pump is a heat engine variant that operates in the other direction. A heat pump, in other terms, is a device that transfers heat energy to a thermal reservoir. They are frequently used to transmit thermal energy by absorbing heat from a cold environment and releasing it to a warmer environment.

Heat pumps use mechanical energy supplied by an external source to transfer heat from a hot body to a cold body. The chilly body is gradually cooled. A heat pump comprises four main components: a condenser, a compressor, an expansion valve, and an evaporator. The refrigerant is the functional material in these components.

Market Dynamics

The capability of heat pump technology in reducing carbon footprint can act as a driver that propels the market growth. Nonetheless, the unawareness of the respected technology in emerging economies tends to stunt the global heat pump market growth.

Ability to reduce carbon footprint

Although energy is a vital power source in many institutions, its manufacture and uses result in considerable greenhouse gas emissions. Therefore, major economies worldwide are gradually shifting toward renewable energy sources to reduce greenhouse gas emissions by minimizing the reliance on non-renewable energy sources.

Heat pump technology has the capability to minimize greenhouse gas emissions. Heat pumps, which use aerothermal and geothermal technology, are cost-effective in heating a room. When utilized in heating, ventilation, and air conditioning (HVAC) systems, the heat pump is frequently recognized as a sustainable technology. Heat pumps are widely utilized for space heating, cooling, and water heating in the residential, commercial, and industrial sectors. The thermal energy reserves in the air and on the ground are enormous. Heat pumps use energy input, primarily electricity, to extract ambient heat from the air and ground at low temperatures and raise the temperature. The heat pump can extract up to 77% of the energy contained in the air. As a result, as compared to other heat transfer mediums, the usage of a heat pump can significantly reduce fossil fuel consumption, minimizing the carbon footprint. The respective factor could be recognized as a pivotal driver driving market expansion by increasing the number of heat pump installations across industries.

Lack of awareness in emerging economies

Since the heat pump is a technically challenging piece of equipment, a limited understanding of the energy efficiency, environmental benefits and cost-efficiency of heat pumps and technical know-how in end-users from emerging and undeveloped economies could limit their penetration in emerging markets.

According to United Nations Environment Program, contractors are unaware of the International Organization for Standardization (ISO) regulations for heat pumps. The ISO standards are critical in ensuring the quality and safety of the products and services provided. For instance, ISO 13612-2:2014 provides a method under steady conditions that correspond to a calculation step, incorporated in larger building models and considers external conditions' influence. Thus, lack or limited awareness regarding the advantages of using heat pumps and related ISO standards is expected to restrain the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has badly impacted both the service and manufacturing industries. The global economy has slowed as most countries have implemented statewide lockdowns to prevent the virus from spreading further. According to the World Bank, the epidemic has sparked profound recessions and is projected to impact the global economy due to a drop in investments and trade and supply chain interruptions.

The deployment of lockdown measures to limit the spread of the virus and restrict the movement of items and persons significantly impacted the heat pump market during the COVID-19 pandemic. Because of three primary elements, the COVID-19 pandemic had a negative impact on the global heat pump market:

The first and most significant impact of the pandemic on the market is its impact on the supply chain, which tarnishes the availability of raw materials and the sales of the finished product. Further, a scarcity of raw materials and disturbing production processes resulted in a severe demand-supply gap due to the pandemic.

Second, industrial gas-glass manufacturing involves numerous manufacturing and purification processes, severely hampered by lockdowns imposed in response to the COVID-19 pandemic. For instance, HVAC production lines in the European Union were halted for several weeks, and new installation projects were postponed.

The interruptions in the major end-user verticals are the last explanation for the pandemic's high impact on the global heat pump market. For instance, The pandemic issue has brought construction and industrial activity to a halt worldwide, limiting demand for heat pumps.

However, growth in end-user verticles also helpt in the development of the market in the future. Further, financial support by the governments to manufacturers and distributors of heat pumps is expected to reduce the impact of the pandemic crisis on the market players.

Segment Analysis

The global heat pump market is classified based on type, energy source, refrigerant, category, capacity, power, end-user and region.

Global warming, energy crunch and regulations implemented by governments counter these by improving the efficiency of temperature management devices drive the residential sector’s the demand for heat pump demand

The heat pump market is divided into three categories based on the end-user: residential, commercial, and industrial. A heat pump employs a refrigerant to transfer heat from one location to another. A heat pump absorbs heat from a residence during the summer and distributes it to the outside air via a condensing unit. However, the process is reversed in winter, with heat being taken from the outside air, compressed, and released within.

According to the U.S. Department of Energy, heat pumps can offer up to four times the energy they require in electricity since they transport heat rather than generate heat. Depending on the temperature, air-source heat pumps are 1.5 to 3 times more efficient than electric resistance heating alone. Since they do not use combustion, no interior pollutants such as carbon monoxide are produced. Government measures to improve energy efficiency in the residential sector during the projected period are expected to drive the residential segment.

Geographical Analysis

Demand to regulate energy and manage temperature and pollution due to heavy population growth and industrial expansion

The heat pump market is expected to be dominated by the Asia-Pacific. Government-led measures to minimize air pollution originating from traditional sources of energy employed in heating residential, industrial and commercial sectors are likely to boost the expansion of the Asia-Pacific heat pump market. For instance, as per data, since 2010, sales of heat pump water heaters (for sanitary hot water production) have more than tripled, mainly primarily to purchases in China. Japan is the world's second-largest market for heat pumps, with sales falling from 570 000 units in 2010 to 400 000 in 2015 (the lowest point in the last decade), but rising again to 500 000 units in 2020.

Competitive Landscape

The worldwide heat pump market is extremely active in terms of the number and size of global and local producers. Due to the presence of numerous manufacturers such as Stiebel Eltron Gmbh & Co.KG, DAIKIN INDUSTRIES, Ltd, Flamingo Heat Pumps, Danfoss, Lennox International Inc, Robert Bosch GmbH, NIBE Industrier AB, Glen Dimplex Group, FUJITSU GENERAL, and Mitsubishi Electric Corporation, the market has been described as fragmented. Mergers, acquisitions, product launches, contributions, and partnerships are common market methods used by significant market stakeholders to obtain competitive advantages and recognition in their respective industries.

Robert Bosch GmbH

Overview: Robert Bosch GmbH is a prominent manufacturer of high-quality heating, cooling, and hot water systems and was established in 1906. The company employs around 35,400 personnel in over 100 facilities across North America. Industrial Technology, Consumer Goods, Mobility Solutions, and Energy and Building Technology are the corporation's four business categories.

Product Portfolio:

Climate 5000 Mini-Split Gen 2: The product is a simple to install and use versatile air-to-air heat pump system capable of alternative heating and cooling. The product maintains consistent temperature and humidity levels throughout selected spaces through a series of automatic adjustments.

Key Development:

Robert Bosch GmbH expanded its adaptable ductless series with the New Climate 5000 Mini-Split Gen 2 ductless system, which is appropriate for residential and light commercial applications, on April 6, 2020. With improved performance, redesigned wall-mounted units, new four-way cassettes, and concealed duct systems, the new second-generation mini-split portfolio expanded on the first.

Why Purchase the Report?

To visualize the global heat pump market segmentation based on type, energy source, refrigerant, category, capacity, power, end-user and region, as well as understand key commercial assets and players.

Identify commercial opportunities in the global heat pump market by analyzing trends and co-development.

Excel data sheet with numerous data points of heat pump market-level with four segments.

PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.

Product mapping available as excel consisting of key products of all the major market players

The global heat pump market report would provide approximately 93 tables, 104 figures and almost 220 pages.

Target Audience 2023

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies

1. Global Heat Pump Market - Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Global Heat Pump Market – Market Definition and Overview
3. Global Heat Pump Market – Executive Summary
3.1. Market Snippet by Type
3.2. Market Snippet by Energy Source
3.3. Market Snippet by Refrigerant
3.4. Market Snippet by Category
3.5. Market Snippet by Capacity
3.6. Market Snippet by Power
3.7. Market Snippet by End-User
3.8. Market Snippet by Region
4. Global Heat Pump Market-Market Dynamics
4.1. Market Impacting Factors
4.1.1. Drivers
4.1.1.1. Ability to reduce carbon footprint
4.1.1.2. XX
4.1.2. Restraints
4.1.2.1. Lack of awareness in emerging economies
4.1.2.2. XX
4.1.3. Opportunity
4.1.3.1. XX
4.1.4. Impact Analysis
5. Global Heat Pump Market – Industry Analysis
5.1. Porter's Five Forces Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
6. Global Heat Pump Market – COVID-19 Analysis
6.1. Analysis of COVID-19 on the Market
6.1.1. Before COVID-19 Market Scenario
6.1.2. Present COVID-19 Market Scenario
6.1.3. After COVID-19 or Future Scenario
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. Global Heat Pump Market – By Type
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
7.1.2. Market Attractiveness Index, By Type
7.2. Ducted*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Ductless
8. Global Heat Pump Market – By Energy Source
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Energy Source Mode
8.1.2. Market Attractiveness Index, By Energy Source
8.2. Air/Air*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Air/Water
8.4. Ground/Geothermal Source
8.5. Hybrid
8.6. Others
9. Global Heat Pump Market – By Refrigerant
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
9.1.2. Market Attractiveness Index, By Refrigerant
9.2. HFC*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. CO2
9.4. Ammonia
9.5. Hydrocarbon
9.6. Others
10. Global Heat Pump Market – Category
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
10.1.2. Market Attractiveness Index, By Category
10.2. Reversible Air-Air W/Heating*
10.2.1. Introduction
10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. H-Air/Water
10.4. Ground/Water
10.5. Sanitary Hot Water
10.6. Exhaust Air
10.7. Others
11. Global Heat Pump Market – By Capacity
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
11.1.2. Market Attractiveness Index, By Capacity
11.2. Units < 20KW*
11.2.1. Introduction
11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
11.3. Units > 20 KW
12. Global Heat Pump Market – By Power
12.1. Introduction
12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
12.1.2. Market Attractiveness Index, By Power
12.2. Electric*
12.2.1. Introduction
12.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
12.3. Gas Driven
13. Global Heat Pump Market – By End-User
13.1. Introduction
13.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
13.1.2. Market Attractiveness Index, By End-User
13.2. Residential*
13.2.1. Introduction
13.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
13.3. Commercial
13.4. Industrial
14. Global Heat Pump Market – By Region
14.1. Introduction
14.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
14.1.2. Market Attractiveness Index, By Region
14.2. North America
14.2.1. Introduction
14.2.2. Key Region-Specific Dynamics
14.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
14.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Energy Source
14.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
14.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
14.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
14.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
14.2.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
14.2.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
14.2.10.1. U.S.
14.2.10.2. Canada
14.2.10.3. Mexico
14.3. Europe
14.3.1. Introduction
14.3.2. Key Region-Specific Dynamics
14.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
14.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Energy Source
14.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
14.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
14.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
14.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
14.3.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
14.3.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
14.3.10.1. Germany
14.3.10.2. UK
14.3.10.3. France
14.3.10.4. Italy
14.3.10.5. Russia
14.3.10.6. Rest of Europe
14.4. South America
14.4.1. Introduction
14.4.2. Key Region-Specific Dynamics
14.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
14.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Energy Source
14.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
14.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
14.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
14.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
14.4.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
14.4.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
14.4.10.1. Brazil
14.4.10.2. Argentina
14.4.10.3. Rest of South America
14.5. Asia-Pacific
14.5.1. Introduction
14.5.2. Key Region-Specific Dynamics
14.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
14.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Energy Source
14.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
14.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
14.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
14.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
14.5.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
14.5.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
14.5.10.1. China
14.5.10.2. India
14.5.10.3. Japan
14.5.10.4. Australia
14.5.10.5. Rest of Asia-Pacific
14.6. Middle East and Africa
14.6.1. Introduction
14.6.2. Key Region-Specific Dynamics
14.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
14.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Energy Source
14.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
14.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
14.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
14.6.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power
14.6.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
15. Global Heat Pump Market – Competitive Landscape
15.1. Competitive Scenario
15.2. Market Positioning/Share Analysis
15.3. Mergers and Acquisitions Analysis
16. Global Heat Pump Market- Company Profiles
16.1. Robert Bosch GmbH*
16.1.1. Company Overview
16.1.2. Product Portfolio and Description
16.1.3. Key Highlights
16.1.4. Financial Overview
16.2. Stiebel Eltron Gmbh & Co.KG
16.3. DAIKIN INDUSTRIES, Ltd
16.4. Flamingo Heat Pumps
16.5. Danfoss
16.6. Lennox International Inc
16.7. NIBE Industrier AB
16.8. Glen Dimplex Group
16.9. FUJITSU GENERAL
16.10. Mitsubishi Electric Corporation
LIST NOT EXHAUSTIVE
17. Global Heat Pump Market – Premium Insights
18. Global Heat Pump Market – DataM
18.1. Appendix
18.2. About Us and Services
18.3. Contact Us