Heavy-Duty Heat Pump Market

Heavy-Duty Heat Pump Market is predicted to grow at faster CAGR during the forecast period due to the technological advancement, reduced emission of carbon dioxide, energy-efficient, improved infrastructure, and expansion of commercial spaces across the globe.

Introduction of the Heavy-Duty Heat Pump Market Report

Heat pumps are an energy-efficient alternative to heat or cool an enclosed space by transferring thermal energy from a cooler space to a warmer space. It works like a refrigerator by transferring inside heat to the outdoors of the building. Heat pumps transfer heat rather than generate heat and provide comfortable temperatures at home.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global heavy-duty heat pump market include technological advancement, reduced emission of carbon dioxide, energy-efficient, improved infrastructure, and expansion of commercial spaces across the globe that has increased the need for heating and cooling systems. Moreover, the growing demand for large-scale space heating and strict regulations to reduce the carbon footprint has contributed to the growth of various applications of heat pumps. In addition, growing investment and awareness about several heat recovery technologies and carbon energy to achieve energy sustainability across manufacturing, chemical, and other industries will increase the heavy-duty heat pump market. Further, the growth in commercial space across developed and developing countries such as India, China, the UK, Germany, and the US has raised the application of district heating and cooling systems. Thus, propelling the demand for heavy-duty heat pump.

Restraint in the Heavy-Duty Heat Pump Market

However, high cost of maintenance is the major restraint in the global heavy-duty heat pump market.

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Type – Segment Analysis

Based on the type, the air source is expected to grow at the fastest rate in the global Heavy-duty Heat Pump market during the forecast period. Air source heat pumps emit heat between two heat exchangers, and it directs heat to the air inside the building. Air source heat pumps are easy and inexpensive to install. For instance, Samsung manufactures air source heat pumps with the name EHS (Ecological and Economical Heating System). It is specially designed to respond to the growing problem of CO2 emissions and oil shortage. The device is designed to be less bulky and fit in smaller places. Samsung has been awarded many eco-label certifications as it releases a small amount of CO2 and has a low running cost.

End-User – Segment Analysis

Based on the end-user, the commercial is anticipated to witness the largest market share during the forecast period. Shifting focus on vertical across large commercial buildings owing to rising investment in green building infrastructure will further increase the demand for heat pumps. Long life span and low carbon footprint is the major factor driving this segment. Heat pumps provide energy-efficient cooling and heating and are the most effective technologies available to decarbonise buildings.

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Regional – Segment Analysis:

Based on the region, the Europe region is expected to capture a significant market share in the global heavy-duty heat pump market in 2020 due to several reasons such as climatic conditions, the convenience to offer the equipment, government tax credit benefit, and regulations. For instance, the UK government is funding the heat pump and building strategy and plans to unveil euro 5000 grants to allow people to install heat pumps with lower carbon heating systems. It will significantly reduce the UK’s dependency on fossil fuels and supports 240,000 jobs across the UK by 2035.

Top Market Players

Various notable players operating in the market includes Panasonic Corporation, Mitsubishi Electric Corporation, Daikin Industries, Ltd., Viessmann Werke GmbH, Flamingo Heat Pumps, Samsung Electronics, Kensa Heat Pumps, Bosch Thermotechnology Corp., Vaillant Group, Glen Dimplex Group, and among others.

Key Developments:

• • In 2021, GETEC and Viessmann collaborated for sustainability, affordable efficiency, and climate protection solutions. It will further strengthen the energy service market for heating, cooling, and solutions. Both the companies are creating optimized processes, which will help develop and implement projects faster and more successfully.
  • In 2020, Mitsubishi Electric Europe B.V. acquired AQS Produkter AB, a cooling and heat pump distributor in Sweden. It will expand the distribution channel of Mitsubishi in Sweden market.

Segments covered in the Report:

The global heavy-duty heat pump market has been segmented on the basis of type, capacity, end-User, and regions. Based on type, the market is segmented into Air Source, Water Source, Ground Source. Based on capacity, the market is segmented into Up to 10kW, 10-20kW, 20-30kW, Above 30kW. Based on end-user, the market is segmented into Industrial, Commercial, Residential.

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Key questions answered in this research report:

• • At what pace is global heavy-duty heat Pump market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in heavy-duty heat pump market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global heavy-duty heat pump market?
  • Which type generated maximum revenues in 2020 and identify the most promising type during the forecast period?
  • What is the various end-user of global heavy-duty heat pump market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Heavy-duty Heat Pump Market by Type

• • Air Source
  • Water Source
  • Ground Source

Global Heavy-duty Heat Pump Market by Capacity

• • Up to 10kW
  • 10-20kW
  • 20-30kW
  • Above 30kW

Global Heavy-duty Heat Pump Market by End-User

• • Industrial
  • Commercial
  • Residential

Global Heavy-duty Heat Pump Market by Region

• • North America Heavy-duty Heat Pump Market (Option 1: As a part of the free 25% customization)
    • North America Heavy-duty Heat Pump Market by Type
    • North America Heavy-duty Heat Pump Market by Capacity
    • North America Heavy-duty Heat Pump Market by End-User
    • US Heavy-duty Heat Pump Market All-Up
    • Canada Heavy-duty Heat Pump Market All-Up
  • Europe Heavy-duty Heat Pump Market (Option 2: As a part of the free 25% customization)
    • Europe Heavy-duty Heat Pump Market by Type
    • Europe Heavy-duty Heat Pump Market by Capacity
    • Europe Heavy-duty Heat Pump Market by End-User
    • UK Heavy-duty Heat Pump Market All-Up
    • Germany Heavy-duty Heat Pump Market All-Up
    • France Heavy-duty Heat Pump Market All-Up
    • Spain Heavy-duty Heat Pump Market All-Up
    • Rest of Europe Heavy-duty Heat Pump Market All-Up
  • Asia-Pacific Heavy-duty Heat Pump Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Heavy-duty Heat Pump Market by Type
    • Asia-Pacific Heavy-duty Heat Pump Market by Capacity
    • Asia-Pacific Heavy-duty Heat Pump Market by End-User
    • China Heavy-duty Heat Pump Market All-Up
    • India Heavy-duty Heat Pump Market All-Up
    • Japan Heavy-duty Heat Pump Market All-Up
    • Rest of APAC Heavy-duty Heat Pump Market All-Up
  • RoW Heavy-duty Heat Pump Market (Option 4: As a part of the free 25% customization)
    • RoW Heavy-duty Heat Pump Market by Type
    • RoW Heavy-duty Heat Pump Market by Capacity
    • RoW Heavy-duty Heat Pump Market by End-User
    • Brazil Heavy-duty Heat Pump Market All-Up
    • South Africa Heavy-duty Heat Pump Market All-Up
    • Saudi Arabia Heavy-duty Heat Pump Market All-Up
    • UAE Heavy-duty Heat Pump Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Heavy-duty Heat Pump Market All-Up

Major Players Operating in the Heavy-Duty Heat Pump (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Panasonic Corporation
  • Mitsubishi Electric Corporation
  • Daikin Industries, Ltd.
  • Viessmann Werke GmbH
  • Flamingo Heat Pumps
  • Samsung Electronics
  • Kensa Heat Pumps
  • Bosch Thermotechnology Corp.
  • Vaillant Group
  • Glen Dimplex Group