LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global industrial heat pumps market since 2017 and the market is poised to grow by USD 148.26 million, progressing at a CAGR of nearly 5% during the forecast period. Request free sample pages
Read the 132-page report with TOC on “Industrial Heat Pumps Market Analysis Report by End-Users (Paper and Pulp, Food and Beverage, Chemical, Automotive, and Others), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2019-2023”.
The market is driven by the growing focus on high-temperature heat pumps. In addition, the emerging demand for advanced heat pumps is anticipated to boost the growth of the industrial heat pumps market.
The rise in the number of high-temperature applications across end-user industries has increased the demand for high-temperature heat pumps. For instance, processes such as washing, evaporation, and drying operate at temperatures as high as 302oF. To cater to such high temperature requirements from end-user, vendors are increasing their focus toward the development of high-temperature heat pumps. With ongoing transition and increasing government regulations regarding the use of renewables, the demand for advanced heat pumps is expected to increase further during the forecast period.
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Major Five Industrial Heat Pumps Companies:
DAIKIN INDUSTRIES operates its business across segments such as air conditioning, chemicals, oil hydraulics, and defense. The company offers a wide range of heat pumps. Enfinity Vertical Floor Mounted Water Source Heat Pumps and Enfinity Console In-Room Water Source Heat Pumps are some of the popular offerings by the company.
Emerson Electric Co
Emerson Electric Co operates its business across two segments, namely automation solutions and commercial and residential solutions. The company offers Vilter single-screw compressors.
Johnson Controls operates its business across two segments, namely Building Technologies & Solutions and Power Solutions. The company offers a wide range of heat pumps. Some of the products offered by the company include SABROE HeatPAC, YHAP-C Absorption Heat Pumps, and Water Source Heat Pumps.
Mitsubishi Electric Corporation
Mitsubishi Electric Corporation operates its business across various segments such as energy and electric systems, industrial automation systems, information and communication systems, electronic devices, home appliances, and others. The company offers a wide range of heat pumps. Some of the popular offerings by the company include air-to-water reversible heat pumps, air-to-water heat pumps (only heating), water-to-water reversible heat pumps, water-to-water heat pumps (heating only), and water-to-water heat pumps (reversible on the hydraulic side).
Robert Bosch GmbH
Robert Bosch GmbH operates its business across segments such as mobility solutions, industrial technology, consumer goods, and energy and building technology. The company offers a wide range of heat pumps. Some of the popular offerings by the company include Scroll Water Source Heat Pump and GHP AWO 38 Heat Pump.
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Industrial Heat Pumps End-User Outlook (Revenue, USD Million, 2019 - 2023)
- Paper and pulp
- Food and beverage
Industrial Heat Pumps Geography Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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