Europe Industrial Heat Pump Market Size
Europe Industrial Heat Pump Market was valued at USD 464.1 million in 2023 and is set to grow at CAGR of 5.7% from 2024 to 2032. Rising heating & cooling demand across industrial operations along with increasing utilization of waste heat from various industrial processes will complement the industry landscape.
A strong focus on energy efficiency and rules that are good for business will have a positive effect on how businesses work. For example, in March 2203, the EU passed the Net-Zero Industry Act to make rules easier to follow, create European standards, establish goals for industrial capacity by 2030, and encourage the government to buy sustainable technologies.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Europe Industrial Heat Pump Market Size in 2023 | USD 464.1 Million |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 5.7% |
| 2032 Value Projection | USD 765.8 Million |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 65 |
| Tables, Charts & Figures | 12 |
| Segments covered | Product, Capacity, Temperature, Application and Country |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Europe Industrial Heat Pump Market Trends
The European industrial heat pump business is expected to increase because of stricter energy efficiency rules, the use of new technology, and growing worries about the environment. The government has set energy efficiency goals and created a favorable regulatory environment that encourages the use of energy-efficient technologies. This is making businesses more likely to use energy-efficient systems. The EU passed the Net-Zero Industry Act in May 2024 to help improve the production of clean technologies in the EU. The act allows Member States to support net-zero technologies through strategic projects that have priority status, faster permitting times, and easier procedures.
Europe Industrial Heat Pump Market Analysis
In 2032, the air source heat pump segment is expected to be worth more than USD 270 million. The industry's prognosis will improve since there is a growing need for efficient ways to heat, chill, and get hot water in industrial settings, as well as a growing need to cut down on emissions. Ongoing improvements in technologies across parts, such as progress in heat pump compressors and refrigerants to boost overall efficiency, will speed up the adoption of the product. Also, the air source heat pump business will be better off because they are easy to install, can be used in many different ways, and are cost-effective. They are also used in a lot of different industrial processes.
Ground source heat pump is set to grow on account of rising deployment of these systems across various industrial applications for industrial heating & cooling together with rising focus on reducing carbon emissions. These systems are cost-effective and clean system that utilize low-temperature geothermal liquids to heat water for circulation in building radiators and convection heaters further augmenting product adoption.
The sector with a capacity of less than 500 kW is expected to grow at a rate of more than 5% per year until 2032. Industries are taking steps to minimize their running expenses and carbon footprints while also encouraging energy-efficient alternatives. The industry picture will get much better if these technologies can be quickly deployed to suit the specific heating and cooling needs of a wide range of industries, such as paper and pulp, food and drink, chemical processing, and manufacturing.
By 2032, the market for industrial heat pumps in Finland is expected to be worth more than USD 90 million. The corporate world will be affected by the growing need for reliable heating systems that provide people more freedom and the rising cost of energy. The way businesses work will change because of good government programs that help lower carbon footprints and encourage investment in district heating projects. Also, the industry's growth will be helped by more people using these units to have the least impact on the environment and by government grants that make it easier for people to switch to energy-efficient systems.
Europe Industrial Heat Pump Market Share
Key companies operating in the Europe industrial heat pump industry are characterized by intense competition attributed by product diversification, consolidating their market presence through strategic partnerships, and mergers & acquisitions, as they actively seek to enhance their competitive position. Makor players including ATLAS COPCO AB, GEA Group, Danfoss, Siemens Energy, Johnson Controls, and Daikin Applied Europe S.p.A. hold the major market share across the Europe industrial heat pump industry.
Europe Industrial Heat Pump Market Companies
Key industry players operating across industry include
- AGO GmbH Energie + Anlagen
- ATLAS COPCO AB
- Carrier
- Danfoss
- Daikin Applied Europe S.p.A.
- GEA Group Aktiengesellschaft
- HELIOTHERM Wärmepumpentechnik Ges.m.b.H.
- Johnson Controls
- MAN Energy Solutions
- OCHSNER
- Oilon Group Oy
- Piller Blowers & Compressors GmbH
- Qvantum Energi AB
- Siemens Energy
- Swegon Group AB
- Thermax Limited
- Turboden S.p.A
Europe Industrial Heat Pump Industry News
- In March 2024, GEA Group Aktiengesellschaft have provided tow large industrial heat pump units to Neukölln district heating plant across Berlin, Germany. These heat pumps will support the eco-friendly district heating for houses across Kreuzberg and Neukölln. These 8.5 tonnes of heat pumps are the vital component of district heating system and research project across the nation. In addition, large industrial heat pumps would be installed across the Mannheim, Stuttgart and Rosenheim along with tested in real operation until March 2026.
- In January 2024, Johnson Controls has launched York portfolio of YCPB and YMAE industrial heat pump units for European market. The YPCB air to water heat pump units are designed for low ambient heating owing to its large liquid injection compressors. These heat pumps come in new 4-pipe and standard 2pipe versions with ambient temperatures down to -25 ºC and hot water up to 60 degrees Celsius. Both heat pump having the capacity of 300-700 KW and utilize low R454B refrigerant, that has already proved its efficiency with YORK product range.
This Europe industrial heat pump market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” and “USD Million” from 2021 to 2032 for the following segments
Market, By Product
- Air source
- Ground source
- Water source
- Closed cycle mechanical heat pump
- Open cycle mechanical vapor compression heat pump
- Open cycle thermocompression heat pump
- Closed cycle absorption heat pump
Market, By Capacity
- < 500 kW
- 500 kW to 2 MW
- 2 MW - 5 MW
- > 5 MW
Market, By Temperature
- 80°C - 100°C
- 100°C - 150°C
- 150°C - 200°C
- > 200°C
Market, By Application
- Industrial
- Paper
- Food & beverages
- Chemical
- Iron & steel
- Machinery
- Non-metallic minerals
- Others
- District heating
The above information has been provided for the following countries
- UK
- Norway
- Denmark
- Finland
- Sweden
- Germany
- Poland
- Spain
- Austria
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