Europe Commercial Air to Water Heat Pump Market Size
Europe Commercial Air to Water Heat Pump Market was valued at USD 2.8 billion in 2023 and is projected to attain a CAGR of 21.4% between 2024 and 2032. The growing inclination towards integration of advanced energy systems with less carbon footprint to stimulate the industry growth.
Also, significant regional governments are working hard to expand the share of renewable energy in heating and cooling operations, which will open up new opportunities for the business. In March 2024, the European Environment Agency (EEA) said that renewable energy sources made up nearly 23% of all energy use in the EU in 2022, up from roughly 21.9% in 2021.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Europe Commercial Air to Water Heat Pump Market Size in 2023 | USD 2.8 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 21.4% |
| 2032 Value Projection | USD 16.3 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 95 |
| Tables, Charts & Figures | 12 |
| Segments covered | Application and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Europe Commercial Air to Water Heat Pump Market Trends
The establishment of good rules and new financial aid and subsidy programs by the governments of Europe will be good for the air-to-water heat pump business. Many countries in the area have big temperature swings, which means that the weather might be very cold or very hot all year round. Also, European countries have made a big shift toward using heat pump systems that are good for the environment and work at a wide range of temperatures to meet the heating and cooling needs of their citizens. This has changed the way the heat pump business works.
Europe Commercial Air to Water Heat Pump Market Analysis
By 2032, the education application market is expected to be worth more over $2.5 billion. This is because of things like stricter building energy requirements, new infrastructure, and more adaptable heating and cooling systems. Also, more and more complex heat pump systems are being used in different commercial settings to keep up with the rapid growth in the building industry, which is getting more and more investment. Also, the changing preferences of consumers to choose low-emission systems, which are backed by government incentive plans, will further boost the expansion of the air-to-water heat pump business.
By 2032, the market for commercial air-to-water heat pumps in Germany is predicted to grow to an astonishing USD 7 billion. This rise is due to more people realizing that we need to stop relying on fossil fuels to heat and cool our buildings. The government is doing something about it. They are making measures to cut down on our use of non-renewable energy sources and switch to greener ones that have a smaller carbon imprint. The quest for sustainability is making Germany a great place for the heat pump sector to flourish. The growing use of heat pump systems in a variety of settings is another reason for this growth. People are starting to use heat pumps more and more to control the temperature inside their homes, offices, and even whole neighborhoods. And research is really important for getting the most out of heat pumps. Scientists and engineers are always coming up with new ideas, finding new uses for things, and making them work better. This makes them even more appealing to both customers and businesses.
The UK market for air-to-water heat pumps is expanding! The government is doing everything it can to make heat pumps more appealing to homeowners and businesses. For instance, the UK government set up a £270 million fund in 2021 to help pay for the installation of heat pumps and other renewable energy technologies. People who want to buy heat pumps should be able to do so for less money thanks to this fund. The government is also trying to make it easier to put in heat pumps. For example, they have made it easier for landlords to put heat pumps in their rental homes by making new guidelines. All of these things are making heat pumps a more popular choice for UK homeowners and companies. Because of this, the heat pump business is likely to keep growing in the years to come.
Europe Commercial Air to Water Heat Pump Market Share
There are a few important things that affect the Europe commercial air-to-water heat pump market, such as how the market works, the rules that govern it, and new technologies. Top corporations are putting money into research and development to make their products more energy-efficient and environmentally friendly. They are also working to improve the Coefficient of Performance (COP) of their products so that they work better in colder areas. Also, the biggest players in the business, such as Daikin, Carrier, Panasonic, Viessmann, and Clivet, have seen a lot of competition in the sector, which has led to a lot of new ideas.
Europe Commercial Air to Water Heat Pump Market Companies
Major manufacturers operating across the industry comprising of
- Bosch Thermotechnology Corp.
- Carrier Corporation
- Clade Engineering Systems Ltd
- Clivet S.p.A.
- Daikin
- Fujitsu General
- Guangdong Shunde OSB Environmental Technology Co., Ltd.
- Guangzhou SPRSUN New Energy Technology Development Co., Ltd.
- Master Therm tepelná ?erpadla s. r. o.
- Mitsubishi Heavy Industries Air Conditioning Europe, Ltd.
- OCHSNER
- Panasonic Corporation
- Trane
- Viessmann
Europe Commercial Air to Water Heat Pump Industry News
- In June 2024, Germany based heat pump manufacturer, Viessmann, launched Vitocal 250-A Pro large heat pump designed for residential, communal, and light commercial buildings. The new unit offers a cooling output of up to 21.7 kW along with the heating output of up to 39.5 kW with the coefficient of performance (COP) of 5.6. In addition, the company further confirmed that the compact monobloc design can be integrated into dense development areas to serve the heating, cooling, and hot water requirements within establishments.
- In March 2024, Panasonic has unveiled its latest air-to-water heat pumps, specifically designed for commercial and multi-residential applications. These new products, which are set to be released in September, are part of the Aquarea M Series lineup. The heat pumps are equipped with R290 refrigerants, known for their lower environmental impact. The lineup includes three variants, offering rated powers of 20 kW, 25 kW, and 30 kW, catering to a wide range of heating requirements.
This Europe commercial air to water heat pump market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” & “USD Million” from 2021 to 2032 for the following segments
Market, By Application
- Education
- Healthcare
- Retail
- Logistics & transportation
- Offices
- Hospitality
- Others
The above information has been provided for the following countries
- Austria
- Norway
- Denmark
- Finland
- France
- Germany
- Italy
- Switzerland
- Spain
- Sweden
- UK
- Netherlands
- Poland
- Belgium
- Slovakia
- Ireland
- Czech Republic
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy