Europe Industrial Heat Pump Market

Europe Industrial Heat Pump Market Size, Share, Growth Analysis, By Product(Air Source, Ground Source), By Application(Residential, Commercial and Industrial) - Industry Forecast 2024-2031

Report ID: SQMIR20I2271 | Region: Regional | Published Date: April, 2024
Pages: 202 | Tables: 66 | Figures: 70

Europe Industrial Heat Pump Market News

  • January 2023: Carrier announced the launch of its new industrial heat pump solution, the Carrier AquaEdge 3000i. The heat pump is designed to provide heating and cooling for industrial processes at temperatures up to 150°C.
  • March 2023: Bosch announced the launch of its new industrial heat pump solution, the Bosch Climate 5000i. The heat pump is designed to provide heating and cooling for industrial processes at temperatures up to 140°C.
  • June 2023: The European Commission announced a new plan to support the deployment of industrial heat pumps in Europe. The plan aims to install 20 gigawatts of industrial heat pumps by 2025 and 100 gigawatts by 2030. The plan includes a number of financial incentives and technical support measures to help businesses switch to industrial heat pumps.
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Europe Industrial Heat Pump Market size was valued at USD 14.10 Billion in 2022 and is poised to grow from USD 16.71 Billion in 2023 to USD 64.97 Billion by 2031, at a CAGR of 18.50% during the forecast period (2024-2031).

The aggressive panorama in the European industrial warmness pump marketplace is characterised by using a diverse array of corporations vying for market percentage. These businesses are engaged in severe competition driven by using innovation, product development, and expanding their provider offerings. 'Bosch Thermotechnik (Germany)', 'Danfoss (Denmark)', 'Daikin (Japan)', 'Mitsubishi Electric (Japan)', 'Carrier (US)', 'Trane (US)', 'Viessmann (Germany)', 'Baxi Group (Italy)', 'Vaillant Group (Germany)', 'Remeha (Netherlands)', 'Hitachi (Japan)', 'Swegon (Sweden)', 'Eurofred (Spain)', 'Aeroterma (Italy)', 'Eberspächer (Germany)'

As governments and international bodies enforce stricter emissions and energy efficiency standards, industries are compelled to adopt heat pump technologies to reduce their carbon footprint and comply with these regulations. This regulatory pressure is propelling the adoption of industrial heat pumps across various sectors.

Electrification of Industrial Processes: Companies are transitioning from conventional fossil fuel-primarily based heating systems to electric warmth pumps, pushed through the need to lessen carbon emissions and achieve electricity efficiency. Electrification aligns with Europe's sustainability desires, and advancements in heat pump generation make this transition an increasing number of viable across a huge range of industries, from production to agriculture, fostering a greater green and fee-effective method to industrial heating.

Germany has mounted itself as the dominating force inside the European business heat pump market. This management is attributed to Germany's robust dedication to renewable electricity and power performance tasks, sponsored by using strong industrial sectors. The us of a's progressive era panorama and properly-hooked up manufacturing capabilities have positioned it as a main producer and adopter of business heat pump systems. Germany's strategic guidelines and investments in sustainable solutions make a contribution to its dominance within the marketplace.

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