Industrial Heat Pumps Market 2024-2028
Technavio has been monitoring the industrial heat pumps market and is forecast to grow by USD 689.3 mn during 2023-2028, accelerating at a CAGR of 5.58% during the forecast period. Our report on the industrial heat pumps market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising focus on improving energy efficiency by industries, growing focus on high-temperature heat pumps, and emerging regulations and increasing government initiatives to reduce emissions.
Technavio's industrial heat pumps market is segmented as below:
By End-user
- Paper and pulp
- Food and beverage
- Chemical
- Automotive
- Others
By Type
- Air-to-air heat pumps
- Air-to-water heat pumps
- Water source heat pumps
- Ground source heat pumps
- Hybrid heat pumps
By Geography
- Europe
- APAC
- North America
- Middle East and Africa
- South America
This study identifies the advent of smart heat pumps as one of the prime reasons driving the industrial heat pumps market growth during the next few years. Also, increased adoption of solar-powered heat pumps and emerging demand for advanced heat pumps will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the industrial heat pumps market covers the following areas:
- Industrial heat pumps market sizing
- Industrial heat pumps market forecast
- Industrial heat pumps market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading industrial heat pumps market vendors that include Bard HVAC, Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Johnson Controls International Plc., Lennox International Inc., LG Electronics Inc., MAYEKAWA MFG. CO. LTD., Meier Tobler AG, Mitsubishi Electric Corp., NIBE Industrier AB, OCHSNER Warmepumpen GmbH, Oilon Group Oy, Rheem Manufacturing Co., Robert Bosch GmbH, Robur Spa, Sirac Air Conditioning Equipments Co. Ltd., Systemair AB, and Toshiba Corp.. Also, the industrial heat pumps market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.