Commercial Sector Accounts for Over 40% of Heavy Duty Heat Pump Demand: Future Market Insights Study
DUBAI, UAE, May 26, 2021 / PRNewswire / – Global High Performance Heat Pumps Market report by ESOMAR-certified consulting firm Future Market Insights predicts impressive growth for the forecast period 2021-2031. An increase in demand is forecast for the market due to the increasing demand for district heating systems in the commercial sector.
The increasing demand for geothermal heat pumps in the central building of heating and cooling systems in the commercial sector should boost sales. Sustainability concerns, deteriorating climatic conditions and the need for cooling and heating systems have accelerated the demand for high-performance heat pumps in both commercial and residential areas.
According to the FMI, the growth in commercial space in both industrialized and developing countries such as India, China, the USA, Germany and the UK have increased the use of district heating and cooling systems. Promotion of sales of high performance heat pumps.
The market is expected to see some lucrative gains that exceed a valuation of $ 450 million by 2021, as the demand for high-performance heat pumps in the commercial and private sectors continues to gain momentum.
In addition, factors such as reduced carbon dioxide emissions, energy efficient, improved infrastructure, and the expansion of commercial space around the world have increased the need for heating and cooling systems, which is driving the demand for high performance heat pumps.
Due to this increasing demand, the market for high performance heat pumps is expected to grow by more than 2.9% in the forecast period 2021-2031.
“The increasing demand for sustainable solutions for heating and cooling systems and the increasing research and development activities offer lucrative opportunities for the manufacture of new products to meet the requirements of the end user,” says the FMI analyst
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The central theses
- In terms of final consumers, the commercial sector accounts for over 40% of the total market share
- Geothermal heat pumps are expected to cover almost 30% of the world market by the end of 2031
- High performance air source and absorption heat pumps together account for around 50% of the global market share
- The increased use of high-performance heat pumps with an output range between 10 and 20 MW is in great demand in industrial plants for district heating and district cooling
- The US is expected to account for nearly 68% of sales in North America until 2021
- Increasing demand for high-performance heat pumps from the commercial and private sectors Germany will drive sales
- The increasing demand for district cooling and heating in the GCC countries will boost sales of high performance heat pumps in the region
Leading manufacturers strive for strategic alliances and partnerships with regional distributors and top companies in order to gain a foothold in the industry. As the market is highly competitive, the major players are expanding their product portfolio by introducing their new products along with new innovations to expand their customer base. In doing so, the main players want to gain a competitive advantage in the industry.
At 13th .. May 2021Mitsubishi Heavy Industries Thermal Systems Ltd., part of the Mitsubishi Heavy Industries Group, has redesigned all 17 models of its KXZ series of multi-split air conditioning systems for inverters for worldwide use.
in the October 2020Honeywell’s Solstice N15 (R515B) refrigerant, developed for R134a and R124 in chillers and heat pumps, was selected by Philip Doyle Manufacturing, a Canadian manufacturer of high-performance air conditioning systems.
Johnson Controls, a global solution provider for smart and sustainable buildings, in October 2020offered a highly efficient pleated air filter that provides an inexpensive solution in place of costly HEPA filtration upgrades.
Some of the leading manufacturers of high performance heat pumps featured by FMI are:
- Thermax Ltd.
- Star cooling
- GEA Group
- MAN Energy Solutions
- Oilon OY
- Siemens Energy
- Johnson Controls
- Friotherm AG
- Engie Refrigeration GmbH
- Daikin Industries
- Enertech AB
- Mitsubishi Heavy Industries
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Further insights into the global high performance heat pump market
In its latest report, Future Market Insights provides an in-depth analysis of the global High Performance Heat Pumps Market with historical demand data (2016-2020) and forecast statistics for the period from 2021 to 2031. The study gives compelling insights into the High Performance Heat Pumps Market with a detailed segmentation on the Basis of:
- Air Water heatpump
- Air-to-air heat pump
- Geothermal heat pump
- Hybrid heat pump
- Air heat pump
- Geothermal heat pump
- Absorption heat pump
- 5 to 10 MW
- 10 to 20 MW
- 20 to 40 MW
- District heating and cooling
- Data center
- North America
- Latin America
- East asia
- South asia & Pacific
- middle East & Africa
Important questions addressed in the report
- Which are the best-selling high performance heat pumps?
- What are some of the top manufacturers in the high performance pumps market?
- What are the main trends that will affect the demand for high performance heat pumps?
- Which region will remain the most lucrative in the forecast period?
- What is the impact of Covid-19 on the high performance heat pump market?
Ask with questions related to the report [email protected] https://www.futuremarketinsights.com/ask-question/rep-gb-13164
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SOURCE Future Market Insights