Heat Pump Market Growth, Analysis, Outlook and Forecast 2020-2027

The Global Heat Pump Market is estimated to reach USD 104.4 Billion by 2027 at a CAGR of 9.7%, observes forencis research (FSR).

Heat pump is defined as an equipment which transfers heat from one area to another with the help of mechanical or electric methods. As per the requirement, heat pump either transfers heat from cool outdoor to warm indoor or heat from cool indoor to warm outdoor. The heat is transferred by heat pumps instead of generating, which makes it energy efficient alternative.

Heat Pump Market: Drivers & Challenges

Market Drivers:

Growing Awareness towards Carbon Dioxide Emissions

Conventionally fossil fuels were used to fulfil energy use, which are the major producers of CO2 emissions. CO2 emissions have adverse effects on the environment and results in problems like global warming. To reduce CO2 emissions heat pumps can be used as solution. According to International Energy Association (IEA), 50% CO2 emissions from building sector and 5% from the industrial sector can be reduced by the incorporation of heat pumps. Thus implementing heat pumps can be effective for energy conservation, reduction in CO2 emissions, and reduction in effects of climatic change.

Thus, growing awareness towards carbon dioxide emissions may contribute in the growth of the heat pump market, during the forecast period.

Get Sample Copy of This Report @ https://www.forencisresearch.com/heat-pump-market-sample-pdf/

Supportive Government Policies

Government is developing various policies encouraging people to use renewable and energy efficient heat sources. Such policies across various nations may further surge the demand of heat pumps. For instance, the European Directive on renewable energy 2009/28/CE (EU 2009) have set target for all member states, so that by 2020, 20% share of energy must be from renewable sources in the European Union. Annex VII of this directive mentions usage of heat pumps, it specifies that heat pumps with 15% of energy gain over the input primary energy should be considered.

Thus, supportive government policies are a projected to contribute in the growth of the heat pump market, during the forecast period.

Market Challenges:

High Initial Cost

The heat pumps are reliable in nature, helps in CO2 emissions reduction and is energy efficient technology. But there are few challenges which need to be addressed to use this technology at its full potential. The initial cost of the heat pump is quite high which becomes a barrier in the growth of the market. Also, the installation of the system is quite difficult as it requires planning to understand the inlets and the outlets of the heat, which adds up to additional cost to the overall installation.

Thus, high initial cost is anticipated to be a challenging factor for the growth of the heat pump market, during the forecast period.

Heat Pump Market: Key Segments

Segmentation based on technology covers: Air to Water, Air to Air, Geothermal, and Absorption
Segmentation based on product type covers: Air to Water Monobloc, Air to Water Cylinder, Air to Water Split, Ground/Water to Water, and Exhaust Air.
Segmentation based on power capacity covers: Below 10kW, 10kW to 20kW, and Above 20kW.
Segmentation based on end user covers: Residential, Commercial, and Industrial
Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, and Middle East & Africa with individual country-level analysis.

Heat Pump Market: Report Scope

The report on the heat pump market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Request Report Methodology On Competition On Global Heat Pump Market Here @ https://www.forencisresearch.com/heat-pump-market-request-methodology/

List of the leading companies operating in the Heat Pump Market include:

United Technologies Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
Daikin Industries, Ltd.
LG Electronics Inc.
Hitachi, Ltd.
Stiebel Eltron
Mitsubishi Electric Corporation
Ingersoll-Rand plc
GlenDimplex
Viessmann Group
Vaillant
Other Key Companies

Heat Pump Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Heat Pump Market, by Technology

Air to Water
Air to Air
Geothermal
Absorption

Heat Pump Market, by Product Type

Air to Water Monobloc
Air to Water Cylinder
Air to Water Split
Ground/Water to Water
Exhaust Air

Heat Pump Market, by Power Capacity

Below 10kW
10kW to 20kW
Above 20kW

Heat Pump Market, by End User

Residential
Commercial
Industrial

Consult with an Analyst @ https://www.forencisresearch.com/heat-pump-market-consult-with-an-analyst/

Heat Pump Market by Region

Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
North America (US, Canada, Mexico)
Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report

What are the major developments impacting the market worldwide and its growth?
What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
What are the evolving types of the global market?
What are the evolving applications of global market?
What are the major characteristics that will affect the global market growth during the study period?
Who are the key global players operating in the market?
How are the major players leveraging in the existing global market conditions?

Table of Content

1 INTRODUCTION

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.4 Regional Coverage

1.5 Research Timeline

1.6 Assumptions

1.7 Limitations

2 RESEARCH DESIGN & SCOPE

2.1 Introduction

2.2 Primary Research

2.2.1 Key Industry Expert Insight

2.3 Secondary Research

2.3.1 Vital Data from Secondary Sources

2.4 Market Size Estimation

2.5 Data Validation & Triangulation

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Introduction

4.2 Drivers

4.2.1. Growing Awareness towards Carbon Dioxide Emissions

4.2.2. Supportive Government Policies

4.3 Opportunities

4.3.1. Low GWP Refrigerants System

4.3.2. Adaptability to Multiple Building Context

4.3.3. Integration of Heat Pump and Internet of Things (IoT)

4.4 Challenges

4.4.1. High Initial Cost

5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS

5.1 Introduction

5.1.1. Power of Buyers

5.1.2. Power of Suppliers

5.1.3. Intensity of Competition

5.1.4. Challenges of Substitutes

5.1.5. Challenges of New Entrants

5.2 Macro-Economic Indicators

6 GLOBAL HEAT PUMP MARKET BY TECHNOLOGY, Market Size in USD Million (2019—2027)

6.1 Introduction

6.2 Air to Water

6.3 Air to Air

6.4 Geothermal

6.5 Absorption

7 GLOBAL HEAT PUMP MARKET BY PRODUCT TYPE, Market Size in USD Million (2019—2027)

7.1 Introduction

7.2 Air to Water Monobloc

7.3 Air to Water Cylinder

7.4 Air to Water Split

7.5 Ground/Water to Water

7.6 Exhaust Air

8 GLOBAL HEAT PUMP MARKET BY POWER CAPACITY, Market Size in USD Million (2019—2027)

8.1 Introduction

8.2 Below 10kW

8.3 10kW to 20kW

8.4 Above 20kW

9 GLOBAL HEAT PUMP MARKET BY END USER, Market Size in USD Million (2019—2027)

9.1 Introduction

9.2 Residential

9.3 Commercial

9.4 Industrial

10 GLOBAL HEAT PUMP MARKET BY REGION, Market Size in USD Million (2019—2027)

10.1 North America

10.1.1 US

10.1.2 Canada

10.1.3 Mexico

10.2 Europe

10.2.1 Sweden

10.2.2 France

10.2.3 Italy

10.2.4 UK

10.2.5 Rest of Europe

10.3 Asia-Pacific

10.3.1 China

10.3.2 India

10.3.3 Japan

10.3.4 South Korea

10.3.5 Rest of Asia-Pacific

10.4 Middle East and Africa

10.4.1 Saudi Arabia

10.4.2 UAE

10.4.3 Rest of Middle East and Africa

10.5 South America

10.5.1 Brazil

10.5.2 Argentina

10.5.3 Rest of South America

11 COMPETITIVE LANDSCAPE

11.1 Introduction

11.2 Market Ranking/Share Analysis of Key Companies

11.3 Company Benchmarking

12 COMPANY PROFILES

12.1 United Technologies Corporation

12.1.1 Company Overview

12.1.2 Financial Overview

12.1.3 Products/Solutions/Services Offered

12.1.4 Key Developments

12.1.5 SWOT Analysis

12.2 Daikin Industries, Ltd.

12.3 LG Electronics Inc.

12.4 Hitachi, Ltd.

12.5 Stiebel Eltron

12.6 Mitsubishi Electric Corporation

12.7 Ingersoll-Rand plc

12.8 GlenDimplex

12.9 Viessmann Group

12.10 Vaillant

12.11 Other Key Companies

13 APPENDIX

13.1 Key Industry Expert Insights

13.2 Primary Discussion Guide

13.3 Customization Options

Purchase this Premium Industry Research Report with Analysis @ https://www.forencisresearch.com/heat-pump-market-purchase-now/

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

Contact Us

FORENCIS RESEARCH

Phone: +1 (720) 306 9020

Email: [email protected]

For more market research insights, please visit https://www.forencisresearch.com