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Europe Heat Pump Industry set to register over 8% CAGR between 2020 and 2026, propelled by ongoing government initiatives towards raising the adoption of clean and sustainable heating technologies.

Press Release updated: Oct 15, 2020 01:00 EDT

The Europe Heat Pump Market is anticipated to surpass USD 15 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Government policies including incentive plans, and emission reduction targets are some of the paramount factors which will drive the European market trends.

Europe water source heat pump market is set to witness substantial growth on account of their high coefficient of performance index and low energy consumption. Quick financial payback, and the long operational life of WSHP will stimulate the industry growth over the forecast timeline. The introduction of renewable heat incentive programs and efforts toward limiting building emissions will further propel the installation of water source heat pumps.

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A few major findings of the Europe heat pump market report include:

  • Ongoing R&D programs aimed at minimizing the ecological impact of heating systems will proliferate business growth
  • The product offers an energy-efficient way of space heating and domestic hot water production which will further fuel the industry growth
  • Rising investments toward green buildings and sustainable commercial infrastructure is anticipated to boost the market statistics
  • Implementation of innovative technologies toward product design for efficiency enhancement and cost reduction will promote the demand for heat pumps across Europe
  • Introduction of stringent emission norms coupled with growing integration of renewable heating technologies is set to enhance the industry outlook
  • Leading players operating across Europe heat pump market include Stiebel Eltron GmbH & Co., Bosch Thermotechnology, Carrier Corporation, Vaillant Group, and Danfoss, among others

Browse key industry insights spread across 170 pages with 171 market data tables & 25 figures & charts from the report, “Europe Heat Pump Market Statistics By Application (Residential, Commercial, Industrial), Products (Air Source, Ground Source, Water Source), Industry Analysis Report, Country Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

Rising awareness toward carbon emissions coupled with the growing acceptance of sustainable heating systems will proliferate product demand across industries. Low operating cost, long lifespan and low maintenance requirements are some of the paramount features which will positively influence the industrial segment of Europe heat pump market size. Their ability to store surplus power in the form of heat energy can integrate & optimize the performance of electricity grids which will further fuel the business outlook over the forecast timeframe.

The UK heat pump market demand is projected to register over 12% CAGR through 2026. Reducing the dependency on energy import and limiting the carbon emissions by enhancing renewable energy mix will stimulate industry growth. The introduction of supportive incentive schemes including zero-interest loans and investment grants are drawing the customers’ focus from traditional heating systems to the unconventional systems. In addition, rising investments toward the refurbishment of domestic and commercial buildings will enhance the market outlook for heat pumps across the country.

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Browse Related Report:

Global Heat Pump Market By Application (Residential {Single Family, Multi Family}, Commercial {Educational Institutes, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality}, Industrial), Products (Air Source, Ground Source, Water Source), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Source: Global Market Insights, Inc.