Growing Government Regulations for Increasing Energy Efficiency, Increased Usage of Heat Pumping Technology for CO2–Emissions Reduction, are the factors that are expected to drive Global Heat Pump Market in the forecast period of 2019 to 2026

Global Heat Pump Market is expected to grow at a healthy CAGR of 21.8% in the forecast period of 2019 to 2026.

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Drivers: Global Heat Pump Market

  • Growing government regulations for increasing energy efficiency
  • Increased usage of heat pumping technology for co2–emissions reduction

Restraint:

  • Rising cost of energy efficient heat pumps

Opportunities:

  • Advent of IoT based heat pumps
  • Increased investment in commercial and residential sector

Challenge:

  • Complexities in installation

Market Trends

Global heat pump market is segmented into five notable segments which are type, energy source, category, sector and capacity.

  • On the basis of type, the market is segmented into ducted and ductless. The ducted segment is expected to dominate the global heat pump market.
  • On the basis of energy source, the market is segmented into air/water, air/air and ground source
  • On the basis of category, the market is segmented into reversible air-air w/heating, h-air/water, h-ground/water, sanitary hot water, reversible others and exhaust air
  • On the basis of sector, the market is segmented into residential, commercial and industrial
  • On the basis of capacity, the market is segmented into units < 20KW and units > 20 KW

Major Players: Global Heat Pump Market

Some of the major players operating in this market Stiebel Eltron Gmbh & Co.KG (DE), Danfoss A/S, Robert Bosch GmbH, NIBE Industrier AB, Glen Dimplex Group, Viessmann Manufacturing Company Inc., Mitsubishi Electric Corporation, Carrier Corporation, Geothermal International Ltd, Airwell , Midea Group , Total Comfort, Inc , Panasonic Corporation and others.