Bizizz Market Research has recently published a research report, “Heat Pump Market by Type (Air-water Heat Pumps, Air-air Heat Pumps, Ground Source Heat Pumps, Hybrid Heat Pumps), Power Source (Electric, Others), End User (Residential, Commercial, Industrial ), Refrigerants(HFC, CO2, Ammonia, Hydrocarbon, Others) and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2025”.
As per the report, Global Heat Pump Market was valued at US$ 49.0 Bn in 2018 and it is anticipated to reach at market value of US$ XX Bn by 2025, witnessing a CAGR of 11.7% during the forecast period.
Increasing investment in the building and residential sectors would provide new growth opportunities for heat pump suppliers. The base year for the analysis is 2017 and the projection for the period between 2018 and 2023. Increased consumer spending patterns are expected to increase revenues from restaurants and other commercial establishments and the significant contribution of heat pumping technology to the reduction of CO2-emissions which are expected to further boost demand for these pumps in the commercial sector.
The Heat Pump market is anticipated to register a CAGR of over 11.7 % during the forecast period.
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By End User, Residential Segment held a prominent share in Global Heat Pump Market in 2018.
On the basis of the demand, the market was segmented into residential, industrial and commercial. The residential industry is one of the booming industries that is expected to fuel demand for products. The residential application segment dominated the market, accounting for xx% of the overall market’s revenue share. Such pumps are highly energy-efficient devices used for space heating, cooling and sanitary hot water generation applications in homes. Favorable government policies and tax rebates provided to install energy-saving devices are expected to increase demand for heat pumps in the residential sector.
Asia Pacificis Anticipated to Dominate the Global Heat Pump Market during the Forecast Period
The Asia Pacific region emerged as the leading regional market and accounted for 42% of the total market in 2018 and is projected to see a significant growth rate of 9.5% between 2019 and 2025. Industrial production processes, such as the chemical industry, the paper industry, pharmaceuticals, textiles, iron and steel, and others, need heat as the primary energy input that is expected to drive pump demand over the forecast period. Growing residential and commercial construction activities in developing countries in the Asia Pacific are expected to have a positive impact on the growth of the market. Major regional markets, such as China and India, continue to grow as major manufacturing hubs, with leading players moving their production facilities to those countries.
Global Heat Pump market was moderately consolidated with key players accounting for significant share in 2018.
Prominent players operating in the Global Heat Pump Market are: Trane, Vaillant, Green Planet Supply Technologies, Thermic Technology, Glen Dimplex, Viessmann, Solarbayer, Earthlinked Technologies, Stiebel Eltron, Swegon, Bard HVAC, Bosch Thermotechnology, Kensa Heat Pumps, Danfoss, Modine, Daikin, NIBE, Carrier, OCHSNER Warmepumpen, Nortek, Mitsubishi Electric, Wolf, Finn Geotherm, Weishaupt, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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