Heat Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

Heat Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The global heat pumps market is expected to grow at a CAGR of around 10% during 2019-2024. Heat pumps are electrical devices that extract heat from a source and transfer it to another via electronic or mechanical means. They perform this function by circulating the refrigerant through a cycle of evaporation and condensation. They work like air conditioners in warmer months, and the process is reversed during colder weather. In comparison with conventional heating and cooling units, heat pumps consume around 40% less energy to operate. As a result, they act as an energy-efficient alternative to furnaces and air conditioners for climates that require moderate heating or cooling. The increasing focus on improving environmental performance and the growing number of initiatives to minimize heat generation from fossil fuels in recent years is spurring the demand for heat pumps around the world.

The introduction of green building standards and codes to enhance the deployment of sustainable technologies is aiding in minimizing carbon emissions. The consequent rise in the demand for sustainable and cost-effective heating and cooling solutions to reduce electricity consumption is impelling the market growth. Additionally, manufacturers are financing research and development (R&D) activities to improve the existing mechanism of heat pumps and enhance their performance and efficiency. For instance, they are introducing two-speed compressors that enable industrial heat pumps to perform extreme heating or cooling with high efficiency, which can significantly reduce their power consumption. Another innovation in the industry includes the integration of heat pumps with furnace systems for creating dual-fuel heat pumps.

IMARC Group’s latest report provides a deep insight into the global heat pumps market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the heat pumps market in any manner.

Report Coverage:

Historical, Current and Future Market Trends

Market Breakup by Rated Capacity:
Up to 10 kW
10–20 kW
20–30 kW
Above 30 kW

Market Breakup by Product Type:
Air Source Heat Pump
Ground Source Heat Pump
Water Source Heat Pump
Exhaust Air Heat Pump
Others

Market Breakup by End Use Sector:
Residential
Commercial
Hospitality
Retail
Education
Food & Beverage
Paper & Pulp
Chemicals & Petrochemicals
Others

Market Breakup by Region:
Europe
North America
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being Daikin, Mitsubishi Electric, Midea Group, Nibe, Ingersoll-Rand, Danfoss, Panasonic, Glen Dimplex, Viessmann, Robert Bosch, United Technologies, etc.

Key Questions Answered in This Report:

How has the global heat pumps market performed so far and how will it perform in the coming years?
What are the key regional markets in the global heat pumps industry?
What is the breakup of the market based on the rated capacity?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the end use sector?
What are the various stages in the value chain of the global heat pumps industry?
What are the key driving factors and challenges in the global heat pumps industry?
What is the structure of the global heat pumps industry and who are the key players?
What is the degree of competition in the global heat pumps industry?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Heat Pumps Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Rated Capacity
5.4 Market Breakup by Product Type
5.5 Market Breakup by End Use Sector
5.6 Market Breakup by Region
5.7 Market Forecast
6 SWOT Analysis
6.1 Overview
6.2 Strengths
6.3 Weaknesses
6.4 Opportunities
6.5 Threats
7 Value Chain Analysis
8 Porter’s Five Forces Analysis
8.1 Overview
8.2 Bargaining Power of Buyers
8.3 Bargaining Power of Suppliers
8.4 Degree of Competition
8.5 Threat of New Entrants
8.6 Threat of Substitutes
9 Market Breakup by Rated Capacity
9.1 Up to 10 kW
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 10–20 kW
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 20–30 kW
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Above 30 kW
9.4.1 Market Trends
9.4.2 Market Forecast
10 Market Breakup by Product Type
10.1 Air Source Heat Pump
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Ground Source Heat Pump
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Water Source Heat Pump
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Exhaust Air Heat Pump
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Others
10.5.1 Market Trends
10.5.2 Market Forecast
11 Market Breakup by End Use Sector
11.1 Residential
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Commercial
11.2.1 Market Trends
11.2.2 Market Forecast
11.3 Hospitality
11.3.1 Market Trends
11.3.2 Market Forecast
11.4 Retail
11.4.1 Market Trends
11.4.2 Market Forecast
11.5 Education
11.5.1 Market Trends
11.5.2 Market Forecast
11.6 Food & Beverage
11.6.1 Market Trends
11.6.2 Market Forecast
11.7 Paper & Pulp
11.7.1 Market Trends
11.7.2 Market Forecast
11.8 Chemicals & Petrochemicals
11.8.1 Market Trends
11.8.2 Market Forecast
11.9 Others
11.9.1 Market Trends
11.9.2 Market Forecast
12 Market Breakup by Region
12.1 Europe
12.1.1 Market Trends
12.1.2 Market Forecast
12.2 North America
12.2.1 Market Trends
12.2.2 Market Forecast
12.3 Asia Pacific
12.3.1 Market Trends
12.3.2 Market Forecast
12.4 Middle East and Africa
12.4.1 Market Trends
12.4.2 Market Forecast
12.5 Latin America
12.5.1 Market Trends
12.5.2 Market Forecast
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Daikin
14.3.2 Mitsubishi Electric
14.3.3 Midea Group
14.3.4 Nibe
14.3.5 Ingersoll-Rand
14.3.6 Danfoss
14.3.7 Panasonic
14.3.8 Glen Dimplex
14.3.9 Viessmann
14.3.10 Robert Bosch
14.3.11 United Technologies
List of Figures
Figure 1: Global: Heat Pumps Market: Major Drivers and Challenges
Figure 2: Global: Heat Pumps Market: Sales Value (in Billion US$), 2013-2018
Figure 3: Global: Heat Pumps Market: Breakup by Rated Capacity (in %), 2018
Figure 4: Global: Heat Pumps Market: Breakup by Product Type (in %), 2018
Figure 5: Global: Heat Pumps Market: Breakup by End Use Sector (in %), 2018
Figure 6: Global: Heat Pumps Market: Breakup by Region (in %), 2018
Figure 7: Global: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 8: Global: Heat Pumps Industry: SWOT Analysis
Figure 9: Global: Heat Pumps Industry: Value Chain Analysis
Figure 10: Global: Heat Pumps Industry: Porter’s Five Forces Analysis
Figure 11: Global: Heat Pumps (Up to 10 kW) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 12: Global: Heat Pumps (Up to 10 kW) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 13: Global: Heat Pumps (10–20 kW) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 14: Global: Heat Pumps (10–20 kW) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 15: Global: Heat Pumps (20–30 kW) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 16: Global: Heat Pumps (20–30 kW) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 17: Global: Heat Pumps (Above 30 kW) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 18: Global: Heat Pumps (Above 30 kW) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 19: Global: Heat Pumps (Air Source Heat Pump) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 20: Global: Heat Pumps (Air Source Heat Pump) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 21: Global: Heat Pumps (Ground Source Heat Pump) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 22: Global: Heat Pumps (Ground Source Heat Pump) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 23: Global: Heat Pumps (Water Source Heat Pump) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 24: Global: Heat Pumps (Water Source Heat Pump) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 25: Global: Heat Pumps (Exhaust Air Heat Pump) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 26: Global: Heat Pumps (Exhaust Air Heat Pump) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 27: Global: Heat Pumps (Other Product Types) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 28: Global: Heat Pumps (Other Product Types) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 29: Global: Heat Pumps (Residential) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 30: Global: Heat Pumps (Residential) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 31: Global: Heat Pumps (Commercial) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 32: Global: Heat Pumps (Commercial) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 33: Global: Heat Pumps (Hospitality) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 34: Global: Heat Pumps (Hospitality) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 35: Global: Heat Pumps (Retail) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 36: Global: Heat Pumps (Retail) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 37: Global: Heat Pumps (Education) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 38: Global: Heat Pumps (Education) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 39: Global: Heat Pumps (Food & Beverage) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 40: Global: Heat Pumps (Food & Beverage) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 41: Global: Heat Pumps (Paper & Pulp) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 42: Global: Heat Pumps (Paper & Pulp) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 43: Global: Heat Pumps (Chemicals & Petrochemicals) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 44: Global: Heat Pumps (Chemicals & Petrochemicals) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 45: Global: Heat Pumps (Other End Use Sectors) Market: Sales Value (in Billion US$), 2013 & 2018
Figure 46: Global: Heat Pumps (Other End Use Sectors) Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 47: Europe: Heat Pumps Market: Sales Value (in Billion US$), 2013 & 2018
Figure 48: Europe: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 49: North America: Heat Pumps Market: Sales Value (in Billion US$), 2013 & 2018
Figure 50: North America: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 51: Asia Pacific: Heat Pumps Market: Sales Value (in Billion US$), 2013 & 2018
Figure 52: Asia Pacific: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 53: Middle East and Africa: Heat Pumps Market: Sales Value (in Billion US$), 2013 & 2018
Figure 54: Middle East and Africa: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 55: Latin America: Heat Pumps Market: Sales Value (in Billion US$), 2013 & 2018
Figure 56: Latin America: Heat Pumps Market Forecast: Sales Value (in Billion US$), 2019-2024
List of Tables
Table 1: Global: Heat Pumps Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Heat Pumps Market Forecast: Breakup by Rated Capacity (in Billion US$), 2019-2024
Table 3: Global: Heat Pumps Market Forecast: Breakup by Product Type (in Billion US$), 2019-2024
Table 4: Global: Heat Pumps Market Forecast: Breakup by End Use Sector (in Billion US$), 2019-2024
Table 5: Global: Heat Pumps Market Forecast: Breakup by Region (in Billion US$), 2019-2024
Table 6: Global: Heat Pumps Market Structure
Table 7: Global: Heat Pumps Market: Key Players

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