The U.S. and Europe are the major heat pump market globally; while the former is growing with a significant pace. The recovery of European market from economic crises is also supporting the growth of the global heat pump market.
On the basis of type, the sanitary hot water heat pumps segment is expected to grow with the highest rate in the coming years. The hot water storage tank and heat pump is present in the sanitary hot water pumps.
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When combined with heat recovery, exhaust air heat pump still appears as an emerging technology in many countries, and is expected to grow with a considerable rate in the coming years. As the technology reduces energy consumption and heat losses, it is expanding in Northern Europe, especially in Scandinavian countries.
The larger heat pumps for district heating, industrial and commercial applications are gaining more popularity, due to the usage of hydrothermal or geothermal energy in them. Among all the products, the air to water monobloc segment is expected to grow with the highest rate, especially in China due to fast economic growth in the country.
Approximately 3.2 tons of carbon dioxide is produced annually from every average home in the U.K., excluding flying and driving miles. The carbon footprints can be reduced significantly with the use of energy-efficient appliances, insulating your home and switching to renewable fuels.
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Some of the competitors in the global heat pump market are Daikin Industries Ltd., Mitsubishi Electric Corporation, Panasonic Corporation, and Carrier Corporation.
Global Heat Pump Market Segmentation
By Type
- H-air/water
- H-ground/water
- Reversible air
- Sanitary hot water
- Others
- Air to Water Monobloc
- Air to Water Cylinder
- Air to Water Split
- Exhaust Air
- Others
- Commercial
- Industrial
- Residential
- Others
- North America
- Europe
- Asia -Pacific
- Rest of the World
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