DUBLIN--(BUSINESS WIRE)--The "Global Heat Pumps Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
The heat pumps market was valued at US$ 50.25 Bn in 2018 and expected to grow at a CAGR of 7.9% during the forecast period from 2019 to 2027.
A growing need for energy-efficient heating solutions will boost market growth. The rapid growth of urbanization & commercialization worldwide and a surge in demand for space heating are some other factors driving the market growth. Heat pumps have various benefits (such as low cost, less maintenance cost, long life span, and others) which are helping the market growth. Rapid technological advancements like IoT integration in heat pumps will also enhance the market growth in years to come.
Major heat pump manufacturers are inclined towards a new product launch strategy with advanced features such as IoT enabled heat pumps that will improve their market presence. Acquisitions, mergers, collaborations, and partnerships are some other major strategies adopted by the major players.
- In November 2017, NIBE Industrier AB acquires Europe's one of the largest water heater manufacturers Serbian TIKI Group. With the acquisition of the TIKI group, NIBE Industrier AB will strengthen its market position and increase its market presence in Europe.
Key Market Movements:
- The Asia Pacific dominates the heat pumps market owing to the rising industrial production processes in various industries (such as chemical, packaging, textiles, papermaking, and others) is the primary factor driving the market in the region. Growing infrastructural development in the region will also boost the market.
- Europe's heat pumps market will show significant growth during the forecast period owing to favorable government regulations for energy consumption and recovering infrastructural development will boost the demand in the region.
- Based on technology, air source heat pumps dominate the market in 2019 owing to the wide application of these pumps in residential, commercial and industrial spaces. On the other hand, the ground source heat pump market is expected to show the fastest growth on account of their high-energy efficiency and stable temperature benefit.
- New product launch, acquisitions, collaborations, and mergers will be the key trend in the global heat pumps market during the forecast period.
List of Companies Covered:
- United Technologies Corporation
- Daikin Industries, Ltd.
- NIBE Industrier AB
- The Viessmann Group
- Stiebel Eltron
- Ingersoll-Rand, Inc.
- Robert Bosch GmbH
- Vaillant Group
- The Danfoss Group
- Mitsubishi Electric Corporation
- Midea Group
- Panasonic Corporation
Key Topics Covered:
2. Executive Summary
3. Market Dynamics
3.1.1. Global HP Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Heat Pumps (HP) Market, by Technology Type , 2017-2027 (US$ Bn)
4.2. Air Source
4.3. Water Source
4.4. Ground Source
5. Global Heat Pumps (HP) Market, by End-user, 2017-2027 (US$ Bn)
6. Global Heat Pumps (HP) Market, by Capacity, 2017-2027 (US$ Bn)
6.2. Up to 10 KW
6.3. 10-20 KW
6.4. 20-30 KW
6.5. Above 30 KW
7. North America Heat Pumps (HP) Market Analysis, 2017-2027 (US$ Bn)
7.1.1. North America HP Market Value and Growth, 2017-2027, (US$ Bn)
7.2. North America HP Market Value, By Technology Type, 2017-2027 (US$ Bn)
7.2.1. Market Analysis
7.3. North America HP Market Value, By End-user, 2017-2027 (US$ Bn)
7.3.1. Market Analysis
7.4. North America HP Market Value, By Capacity, 2017-2027 (US$ Bn)
7.4.1. Market Analysis
7.5. North America HP Market Value, By Region/Country, 2017-2027 (US$ Bn)
7.5.1. Market Analysis
7.5.3. Rest of North America
8. Europe Heat Pumps (HP) Market Analysis, 2017-2027 (US$ Bn)
9. Asia Pacific Heat Pumps (HP) Market Analysis, 2017-2027 (US$ Bn)
10. Rest of the World Heat Pumps (HP) Market Analysis, 2017-2027 (US$ Bn)
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/3t6md8