The global Heat Pump market was valued at US$ 7261.6 million in 2020 and it is expected to reach US$ 10540 million by the end of 2027, growing at a CAGR of 5.4% during 2021-2027.
The device used to pull heat from a lower temperature zone and deliver it to a higher temperature zone is known as a heat pump. These heat pumps use refrigerant in closed or open cycle, which acts as an intermediate medium of heat exchange between source and destination. Heat pumps are of various types such as working on the basis of heat source, air source, water source, ground source, and hybrid.
Growth of the construction industry along with increasing implementation of stringent new building regulations by governments worldwide, especially in China, Japan, U.S., South Korea, and Europe are expected to be the key factors driving demand for heat pumps for residential applications. In countries such as Japan, Australia, U.S., and countries of Europe, governments are providing subsidies on purchase of heat pumps in order to reduce their carbon footprint and increase use of renewable sources of energy for heating and cooling purposes. Also, certain countries like Japan and China have their own renewable energy policies for heating purposes, which promote the use of heat pumps over conventional heating devices.
Global Heat Pump Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Heat Pump Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Carrier Corporation, Daikin, Danfoss, Mitsubishi Electric, Nibe, Airwell, BDR Thermea, Bryant Heating & Cooling, Emerson Climate Technologies, Enertech and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Find more details at: https://www.themarketreports.com/report/global-heat-pump-market-outlook
Segment by Type
Segment by Application
Table of Content:
1 Heat Pump Market Overview
2 Heat Pump Market Competition by Manufacturers
3 Heat Pump Retrospective Market Scenario by Region
4 Global Heat Pump Historic Market Analysis by Type
5 Global Heat Pump Historic Market Analysis by Application
6 Key Companies Profiled
7 Heat Pump Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Heat Pump Market Dynamics
10 Global Heat Pump Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta