Global Heat Pump Market Will Exhibit Positive Impact During 2020-2024 | Growing Construction Sector to Improve the Market Growth | Technavio

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global heat pump market operating under the industrials sector. The latest report on heat pump market 2020-2024 estimates it to register an incremental growth of USD 7.75 billion at a CAGR of over 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Age of Learning Inc., Alphabet Inc., edX Inc., Lumos Labs Inc., MyScript, WizIQ Inc., Blake eLearning, Coursera Inc., Epic! Creations Inc., and UMU Technology Co. Ltd. are among some of the major market participants.

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Growing construction sector has been instrumental in driving the growth of the market. However, the lack of awareness might hamper the market growth.

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Heat Pump Market 2020-2024: Segmentation

Heat Pump Market is segmented as below:

• Product
  • Air Source Heat Pumps
  • Ground Source Heat Pumps
  • Exhaust Air Heat Pumps
• Geographic Landscape
  • APAC
  • Europe
  • MEA
  • North America
  • South America

Based on geographic segmentation, over 56% of the market growth originated from APAC during the forecast period. In addition, air source heat pumps led the growth under the product segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the market size.

Heat Pump Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The heat pump market report covers the following areas:

• Heat Pump Market Size
• Heat Pump Market Trends
• Heat Pump Market Industry Analysis

This study identifies the increased adoption of solar-powered heat pumps as one of the prime reasons driving the Heat Pump Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Heat Pump Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist heat pump market growth during the next five years
• Estimation of the heat pump market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the heat pump market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of heat pump market vendors

Table of Contents:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five Forces Summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product placement
• Air source heat pumps - Market size and forecast 2019-2024
• Ground source heat pumps - Market size and forecast 2019-2024
• Exhaust air heat pumps - Market size and forecast 2019-2024
• Market opportunity by Product

Customer Landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Drivers, Challenges, and Trends

• Market drivers
• Volume driver - Demand led growth
• Volume driver - Supply led growth
• Volume driver - External factors
• Volume driver - Demand shift in adjacent markets
• Price driver - Inflation
• Price driver - Shift from lower to higher-priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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
• United Technologies Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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