Heat Pumps Market Report 2023 (Global Edition)

Global Heat Pumps Market Report 2023 talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Heat Pumps Industry growth. Heat Pumps market has been segmented with the help of its Technology, Application Refrigerant Type, and others. Heat Pumps market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.

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By Technology, the Air Source Segment held the major market share of Heat Pumps market in 2022!

Based on Technology, Air Source Segment held the major market share in the year 2022 owing to its advantages such as high efficiency, low maintenance, durability, and lower carbon footprint.

• Water Source
• Air Source
• Ground Source

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Heat Pumps Industry. Request a Free Sample PDF!

Heat Pump Market, By Application

Based on the Application, the Residential segment is anticipated to register the largest share owing to the increasing residential sector worldwide and increasing government initiatives to reduce air pollution. Heat pumps are an environmentally friendly option compared to traditional heating and cooling systems, as they reduce carbon emissions and help to combat climate change.

• Residential
• Commercial
• Industrial

The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Heat Pumps market report 2023 Edition by contacting our team.

Heat Pumps Refrigerant Type Segment Analysis

Based on Refrigerant Type, the R407c and R410a refrigerant types accounted for the largest share in the year 2022 owing to their properties. It boosts the system’s efficiency and cost-effectiveness, and it absorbs and releases heat more effectively.

• R134a
• R407c and R410a
• R600 and R600a
• R717

Heat Pumps Capacity Segment Analysis

• 2-ton heat pump
• 3-ton heat pump
• 4-ton heat pump
• Others

Asia Pacific Heat Pump Market Contributed Major Share!

Asia Pacific region accounted for the largest share and is anticipated to grow at the fastest rate during the forecast period of analysis. This is attributed to the increasing population, growing infrastructural development, and rapid urbanization is anticipated to boost the growth of the Heat Pump Market in this region.

Region-wise, the market is analyzed across: (In case you wish to acquire a specific region or any country data then please contact us)

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!

Heat Pump Industry News:

Viessmann invested €200m in a new heat pump factory

In July 2022, Viessmann invested €200m to expand and partially rebuild its existing factory in Poland to create a new heat pump logistics center. Followed by this news the company announced recent news that the German manufacturer was to invest €1bn over the next three years to extend its heat pump and green climate solutions portfolio.

NIBE acquired English Go Geothermal

In August 2021,

NIBE Industrier AB acquired 50% of the shares in Go Geothermal Ltd and the remaining shares within a five-year period. This acquisition strengthens its position in the rapidly growing British market for heat pumps, also with its CTC brand.

Top Companies Market Share in Heat Pumps Industry: (In no particular order of Rank)

• Carrier Corporation
• Daikin
• Danfoss
• Mitsubishi Electric
• NIBE
• Airwell
• BDR Thermea
• Bryant Heating & Cooling
• Emerson Climate Technologies
• Enertech
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