Global Heat pump Market 2020-2024
Technavio has been monitoring the global heat pump market and it is poised to grow by USD 7.75 bn during 2020-2024
, progressing at a CAGR of 9% during the forecast period. Our reports on global heat pump market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing construction sector.
In addition, increased adoption of solar-powered heat pumps is anticipated to boost the growth of the global heat pump market as well.
Technavio's global heat pump market is segmented as below:
ProductAir source heat pumps Ground source heat pumps Exhaust air heat pumpsGeographic segmentationNorth America APAC Europe South America MEA
Key Trends for global heat pump market growth
This study identifies increased adoption of solar-powered heat pumps as the prime reasons driving the global heat pump market growth during the next few years.
Prominent vendors in global heat pump market
We provide a detailed analysis of around 25 vendors operating in the global heat pump market, including some of the vendors such as Daikin Industries Ltd., Danfoss AS, Ingersoll-Rand Plc, Johnson Controls International Plc, Lennox International Inc., Mitsubishi Electric Corp., NIBE Industrier AB, Rheem Manufacturing Co., Robert Bosch GmbH and United Technologies Corp. .
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.
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