Selbyville, Delaware, Aug. 03, 2020 (GLOBE NEWSWIRE) -- According to MarketStudyReport LLC, Europe heat pump market is projected to showcase a considerable growth between 2020 and 2026, on account of increasing demand for energy efficient heating systems to reduce the electricity bills across residential and commercial establishments, cites the report.
Varying fuel prices along with increasing attention on reducing the import dependency will boost the demand for heat pumps in Europe. Financial assistance in the form of direct grants, zero interest rate loan, and tax rebate is being offered by government to promote the usage of renewable heating appliances. Growing concerns regarding harmful emissions and focus on limiting the use of fossil fuels are likely to foster Europe heat pump industry expansion.
Europe heat pump market is segmented with respect to product type, application spectrum, and regional scope. Moreover, the study offers crucial information regarding the organizations operating in the industry vertical, alongside the product portfolio and market share reaped by these players.
In fact, according to EU’s target, the members are instructed to decrease the greenhouse gases emission by 40% as a part of 2030 climate & energy framework. Introduction of several such renewable energy targets as well as energy efficiency norms by the regional government to control the CO2 emissions will create lucrative growth opportunities for Europe heat pump market.
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Unveiling the application spectrum:
Europe heat pump market share from commercial application segment is estimated to grow tremendously over the forecast period, accredited to construction of modern commercial facilities including office buildings, shopping complexes, and hospitals. Rising deployment of HVAC systems that can be flexibly integrated with conventional systems across both new and existing facilities will augment the market outlook. Moreover, considerable decrease in utility bills and ongoing enhancements in existing design are likely to boost the adoption of heat pumps across commercial sector in Europe.
Highlighting the product insights:
Speaking of product type, the market is split into air source, ground source, and water source. As per the estimates, air source segment is projected to expand rapidly during 2020-2026, on account of advantages such as zero expense for groundwork, less space requirement, and low cost. These units lower the greenhouse emission by 40% as compared to traditional heating units. Surging demand for water heating solutions are bolstering the adoption of air to water heat pumps over air to air units. Supplementary air purification features and the capability to offer heating at moderate temperatures will impel the popularity of air source heat pumps.
Elaborating the regional landscape:
Considering the geographical hierarchy, UK heat pump industry is reckoned to grow significantly in the upcoming years, primarily driven by introduction of stringent reforms in a bid to encourage adoption of energy efficient heating appliances. Surging re-establishment & refurbishment of buildings along with enhancing purchasing power parity, shifting preference towards new technologies, evolving living standards will add momentum to the market growth in UK.
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Summarizing the competitive arena:
The leading organizations in Europe heat pump market are Modine Manufacturing Company, Systemair, Carrier Corporation, NIBE, Toshiba Corporation, Daikin Industries Ltd., WOLF, Weishaupt, Danfoss, Solarbayer GmbH, Bosch Thermotechnology, Thermic Energy, Stiebel Eltron, Swegon Group, Glen Dimplex, Vaillant Group, Viessmann Group, and Trane.
Europe Heat Pump Market by Product Type (Revenue, USD Billion, 2015-2026)
- Air source
- Ground source
- Water source
Europe Heat Pump Market by Application Type (Revenue, USD Billion, 2015-2026)
- Residential
- Single family
- Multi family
- Commercial
- Educational institutes
- Retail
- Logistics & transport
Europe Heat Pump Market by Regional Landscape (Revenue, USD Billion, 2015-2026)
- Denmark
- Norway
- Austria
- Switzerland
- Italy
- Germany
- France
- Finland
- UK
- Sweden
- Spain
- Netherland
Europe Heat Pump Market by Competitive Hierarchy (Revenue, USD Billion, 2015-2026)
- Modine Manufacturing Company
- Systemair
- Carrier Corporation
- NIBE
- Toshiba Corporation
- Daikin Industries Ltd.
- WOLF
- Weishaupt
- Danfoss
- Solarbayer GmbH
- Bosch Thermotechnology
- Thermic Energy
- Stiebel Eltron
- Swegon Group
- Glen Dimplex
- Vaillant Group
- Viessmann Group
- Trane
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Europe Heat Pump Industry Insights
- Industry segmentation
- Industry landscape, 2015 – 2026
- Industry ecosystem analysis
- Vendor matrix
- Innovation & sustainability
- Regulatory landscape
Chapter 4. Europe Heat Pump Market, By Product
- Europe heat pump market share by product, 2019 & 2026
- Air source
- Europe market from air source, 2015 – 2026
- Europe market from air source, by country, 2015 – 2026
- Ground source
- Europe market from ground source, 2015 – 2026
- Europe market from ground source, by country, 2015 – 2026
- Water source
- Europe market from water source, 2015 – 2026
- Europe market from water source, by country, 2015 – 2026
Chapter 5. Europe Heat Pump Market, By Application
- Europe Heat Pump market share by application, 2019 & 2026
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- Europe market from residential, 2015 – 2026
- Europe market from residential, by country, 2015 – 2026
- Single family
- Europe market from single family 2015 - 2026
- Europe market from single family by country, 2015 – 2026
- Multi family
- Europe market from multifamily 2015 - 2026
- Europe market from multifamily by country, 2015 – 2026
Chapter 6. Europe Heat Pump Market, By Country
Related Report:
Global Heat Pump Market Size, Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026
Global Heat Pump Market will surpass 16 million units by 2026, as per new research report. Rising environmental concerns coupled with adoption of energy efficient heating technologies is positively influencing the deployment for these units. Ongoing development of new establishments coupled with rising urbanization will propel the product penetration across the residential sector. Europe heat pump market is anticipated to witness growth over 5% by 2026. Escalating demand for heating appliances across the residential sector on account of extreme climatic conditions will proliferate the business growth across the region. Heat pumps contribute considerably in reduction of carbon footprint, which will further enhance the product deployment over the forecast timeframe.
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