A heat pump is a device that transfers heat energy from a source of heat to what is called a thermal reservoir. Heat pumps move thermal energy in the opposite direction of spontaneous heat transfer, by absorbing heat from a cold space and releasing it to a warmer one. A heat pump uses external power to accomplish the work of transferring energy from the heat source to the heat sink. The most common design of a heat pump involves four main components – a condenser, an expansion valve, an evaporator and a compressor. The heat transfer medium circulated through these components is called refrigerant.
While air conditioners and freezers are familiar examples of heat pumps, the term "heat pump" is more general and applies to many heating, ventilating, and air conditioning (HVAC) devices used for space heating or space cooling. Heat pumps usually can be used either in heating mode or cooling mode, as required by the user. When a heat pump is used for heating, it employs the same basic refrigeration-type cycle used by an air conditioner or a refrigerator, but in the opposite direction – releasing heat into the conditioned space rather than the surrounding environment. In this use, heat pumps generally draw heat from the cooler external air or from the ground.
A heat pump is a heating device that transfers heat energy from a source of heat to the application area. Rising the adoption of the heat pump owing to its low operation and low maintenance cost that influence the growth of the heat pump market. Rapid development in the construction sector is also contributing to the growth of the heat pump market. The reduction of the CO2 emission and an increase in the demand for energy-efficient devices is further bolstering the growth of the heat pump market.
Increasing investment in the residential and commercial sector is raising the demand for the heat pump which propels the growth of the market. Increasing demand for eco-friendly and technologically advanced devices for heating and cooling applications is a growing demand for the heat pump market. However, the high installation cost is the key hindering factor for the growth of the heat pump market. The increasing initiatives by the government to promote the consumption of fossil fuels for heating and cooling of homes is expected to grow the adoption of the heat pump that drives the growth of the market.