Heat Pumps Market 2021 Growth Opportunity by Distributors to 2026 – KSU
Heat Pump Market – Growth, Trends, COVID-19 Impact, and Forecast (2021-2026)
Global “Heat pumps marketThe 2021 research report provides information related to market size, market share, trends, growth, cost structure, capacity, revenue and forecast 2026. This report also includes the general and comprehensive study of the heat pumps market with all its growth influencing aspects of the market. A comprehensive quantitative survey of the Heat Pumps market industry, this report provides data for building strategies to expand market growth and effectiveness. The report looks at the effects of COVID-19 (Corona Virus) on different regions and key countries, as well as on the future development of the industry.
The heat pump market is expected to record a CAGR of 27% in the forecast period (2021-2026).
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– March 2019 – Wolf GmbH, a Bavarian manufacturer of heating and ventilation systems, launched its first propane heat pump (R290). In a move that would enable the company to empower users to curb their HFC reliance.
– The increasing need to curb the dependence on fossil fuels and to look for an energy-efficient alternative to stoves and air conditioning systems should stimulate the demand for heat pumps in the forecast period. Since heat pumps transport heat instead of generating heat, heat pumps can provide equivalent room conditioning for only a quarter of the cost of running conventional heating or cooling devices.
– Various government initiatives such as the UK Government’s Domestic RHI and Non-Domestic RHI are a financial incentive system that has been put in place to encourage the installation and use of renewable heating technologies in existing homes. Such initiatives are likely to fuel market growth over the forecast period.
– The increasing disposable income in people’s hands and growing awareness have resulted in heat pumps becoming increasingly used in the residential, commercial and industrial sectors. For example, the United States had 2.94 million air pump heat pump shipments in 2018, according to the AHRI (Air Conditioning, Heating and Refrigeration Institute).
– In June 2019, the Maine government signed a bill aimed at doubling the number of heat pump systems in Maine to 20,000 per year for a total of 100,000 by 2025.
– According to the European Heat Pump Association in May 2019, heat pumps heat a little less than 10% of all buildings. This offers heat pump suppliers a lucrative opportunity to tap into the untapped market and thus stimulate market growth in the forecast period.
– However, the high installation cost of heat pumps is one of the factors that could hamper market growth during the forecast period.
Regional analysis for Heat pumps Market:
North America (USA, Canada and Mexico)
Europe (Germany, France, Great Britain, Russia and Italy)
Asia Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa)
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Important market trends
Residential heat pumps are expected to hold a large share of the market
– The air source heat pumps have been used in almost all parts of the United States for many years, but not in areas with prolonged periods of sub-zero temperatures. With advances in technology, it now offers a legitimate alternative to space heating in colder regions. Such cases are expected to fuel acceptance in the region over the forecast period.
For example, the Association of Appliances Manufacturers estimated that total air source heat pump shipments in the US would increase from 2.43 million in 2016 to 2.82 million in 2019.
– The increasing initiatives by the government and the relevant authorities to curb the use of fossil fuels for heating and cooling households are expected to fuel the introduction of residential heat pumps in the forecast period.
– For example, in March 2019, according to renewable Energiequelle.co.uk, the government announced its plans to ban fossil fuel heating in all new homes built after 2025, opening doors to low-carbon heating. As 85% of all heating systems in operation are gas boilers and around 1.5 million gas boilers are installed in the UK every year.
– In June 2019 PHNIX released two heavy EVI house heating heat pumps R32 inverters with 6 kW and 10 kW respectively in Europe. A 6 kW device can cover the basic heating requirements of a 200 m2 house. Such cases are likely to spur market growth over the forecast period.
Influence of the heat pumps Market report:
– Comprehensive assessment of all opportunities and risks on the heat pump market.
– Heat pumps market the latest innovations and major events.
– In-depth study of the business strategies for the growth of the market leading players in heat pumps.
– Final Study of the Heat Pump Market Growth Chart for the Years to Come.
– In-depth understanding of the market-specific drivers, restrictions and important micro-markets of heat pumps.
– Favorable impression in important technological and current market trends on the heat pump market.
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What market factors are explained in the report?
– Important strategic developments: The study also covers the key strategic developments of the market, including R&D, new product launches, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional level .
-Key Market Features: The report has assessed key market characteristics including sales, price, capacity, capacity utilization, gross, production, production rate, consumption, import / export, supply / demand, cost, market share, CAGR, and gross margin. In addition, the study provides a comprehensive study of the key market dynamics and their latest trends, as well as relevant market segments and subsegments.
-Analytical tools: The Global Heat Pumps Market report has the carefully studied and assessed data of the major players in the industry and their market size with the help of a number of analytical tools. The analytical tools such as Porter’s Five Forces Analysis, SWOT Analysis, Feasibility Study, and Return on Investment Analysis have been used to analyze the growth of major market players.
An overview of the effects of COVID-19 on the heat pump market:
All of the reports we have listed have tracked the effects of COVID-19. Both before and after the entire supply chain was taken into account. As far as possible, we will provide an additional supplement / report on the COVID-19 update to the report in the third quarter. We continuously strive to support and grow your business during COVID-19 pandemics. Based on our experience and expertise, we offer you a cross-industry impact analysis of the coronavirus outbreak to prepare you for the future. Please check with the sales team.
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