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Market Dynamics
The market is driven by factors such as the growing construction sector and the growing demand for high-temperature heat pumps (HTHPs). However, disposal challenges and adverse environmental impacts of refrigerants will hinder growth.
The emergence of building energy management systems (BEMS) will have a positive impact on the growth of vendors. On the other hand, the high installation/upfront cost is expected to reduce the growth potential in the market.
Company Profiles
Some of the companies covered in this report are Daikin Industries Ltd., Danfoss AS, Ingersoll Rand Inc, Johnson Controls International Plc, Lennox International Inc., Mitsubishi Electric Corp., NIBE Industrier AB, Rheem Manufacturing Co., Robert Bosch GmbH, and STIEBEL ELTRON GmbH and Co. KG.
Competitive Analysis
The competitive scenario provided in the heat pump market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
Market Segmentation
- By Product, the market is classified into Air source heat pumps, Ground source heat pumps, and Exhaust air heat pumps. The market growth in the air source heat pumps segment will be significant during the forecast period.
- By Geography, the market is analyzed across APAC, Europe, North America, South America, and MEA. APAC will have the largest share of the market.
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Global Industrial Heat Pumps Market – Global industrial heat pumps market is segmented by end-user (paper and pulp, food and beverage, chemical, automotive, and others) and geography (Europe, APAC, North America, MEA, and South America).
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Global Geothermal Heat Pump Market – Global geothermal heat pump market is segmented by end-user (Residential and Non-residential) and geography (Europe, North America, APAC, South America, and MEA).
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Heat Pump Market Report Coverage |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of almost 10% |
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Market growth 2021-2025 |
$ 11.04 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
8.56 |
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Regional analysis |
APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 56% |
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Key consumer countries |
China, Japan, US, France, and Sweden |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Daikin Industries Ltd., Danfoss AS, Ingersoll Rand Inc, Johnson Controls International Plc, Lennox International Inc., Mitsubishi Electric Corp., NIBE Industrier AB, Rheem Manufacturing Co., Robert Bosch GmbH, and STIEBEL ELTRON GmbH and Co. KG. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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