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$85.4 Billion Worldwide Heat Pumps Industry to 2027 – Featuring Daikin Industries, Mitsubishi Electric, Ingersoll Rand and Danfoss Among Others – ResearchAndMarkets.com

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DUBLIN–()–The “Heat Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunities & Forecast 2022-2027” report has been added to ResearchAndMarkets.com offer.

The global market size of Heat Pumps reached 50.8 billion USD in 2021. Looking ahead, the publisher projects the market to reach 85.4 billion USD by 2027, with a CAGR of 9, 04% in the period 2021-2027.

Companies mentioned

  • Daikin Industries Ltd.

  • Mitsubishi Electric Corporation

  • MIDEA GROUP

  • NIBE Industrier AB

  • Ingersol Rand

  • Danfoss

  • Panasonic company

  • GDC Group Limited

  • Viessmann Manufacturing Company Inc.

  • Robert Bosch GmbH

  • United Technologies Corporation.

Keeping in mind the uncertainties of the COVID-19, we continuously monitor and evaluate the direct and indirect influence of the pandemic on different end-use sectors. These insights are included in the report as a major contributor to the market.

Heat pumps are electrical devices that extract heat from one source and transfer it to another by electronic or mechanical means. They perform this function by circulating the refrigerant through a cycle of evaporation and condensation. They work as air conditioners in the warmer months and reverse the process during the colder months. Compared to traditional heating and cooling units, heat pumps use around 40% less energy to operate.

As a result, they serve as an energy-efficient alternative to furnaces and an air conditioning system for climates that require moderate heating or cooling. The growing focus on improving environmental performance and the growing number of initiatives to minimize fossil fuel heat generation in recent years is driving the demand for heat pumps around the world.

The introduction of green building standards and codes to improve the use of sustainable technologies is helping to minimize carbon emissions. The resulting increase in demand for sustainable and cost-effective heating and cooling solutions to reduce electricity consumption is driving market growth.

In addition, manufacturers are funding research and development (R&D) to improve the existing mechanism of heat pumps and improve their performance and efficiency. For example, they are introducing two-speed compressors that allow industrial heat pumps to perform extreme heating or cooling with high efficiency, which can significantly reduce their energy consumption. Another innovation in the industry includes the integration of heat pumps with furnace systems to create dual fuel heat pumps.

The latest report from the publisher provides an in-depth insight into the global Heat Pump Market by covering all its essential aspects. This ranges from the macro overview of the market to the micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists and anyone with an interest of any kind or intending to enter the heat pump market in any way.

Key Market Segmentation:

The publisher provides key trend analysis in each sub-segment of the Global Heat Pumps Market report, along with global and regional forecasts from 2022 to 2027. Our report categorized the market by nominal capacity, type of product and the final use sector.

Breakdown by nominal capacity:

  • Up to 10kW

  • 10-20kW

  • 20-30 kW

  • Over 30kW

Breakdown by product type:

  • Air heat pump

  • Geothermal heat pump

  • Water heat pump

  • Exhaust air heat pump

  • Other

Breakdown by end-use sector:

  • Residential

  • Commercial

  • Hospitality

  • Retail

  • Education

  • Food and beverage products

  • Paper pulp

  • Chemical and petrochemical products

  • Other

Division by region:

  • Europe

  • North America

  • Asia Pacific

  • Latin America

  • Middle East and Africa

Key questions answered in this report:

  • How has the global heat pump market behaved so far and how will it behave in the coming years?

  • What are the key regional markets in the global heat pump industry?

  • What has been the impact of COVID-19 on the global heat pump market?

  • What is the market breakdown by nominal capacity?

  • What is the market breakdown by product type?

  • What is the breakdown of the market by end-use sector?

  • What are the various stages of the global heat pump industry value chain?

  • What are the main drivers and challenges in the global heat pump industry?

  • What is the structure of the global Heat Pump industry and who are the major players?

  • What is the degree of competition in the global heat pump industry?

For more information on this report visit https://www.researchandmarkets.com/r/44zkmb

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Written by Natalia Chi

Chicago Popular; Chicago breaking news, weather and live video. Covering local politics, health, traffic and sports for Chicago, the suburbs and northwest Indiana.

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