SELBYVILLE, Del., Oct. 12, 2021 /PRNewswire/ -- Air Source Heat Pump Industry is projected to register around 6% CAGR between 2021 and 2028 owing to stringent governmental norms and policies pertaining to the growing carbon footprint.
The air source heat pump market value is projected to cross USD 77 Billion by 2028, as reported in the latest study by Global Market Insights Inc. Increasing demand from growing real estate sector along with soaring requirement of space heating applications across colder regions will encourage the product deployment.
Air to water source heat pumps segment is anticipated to witness a noteworthy growth owing to various features including simple design and easy installation. Rising global temperature and growing green building construction will provide positive drivers for product deployment. Integration with solar heating source and hence low input cost for product across temperate countries will drive the space heating systems demand in the forecast timeline.
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Room heat pump across the residential applications has witnessed a substantial growth owing to rising heating requirements primarily across single houses and apartments complexes. Easy operation, low maintenance along with multiple control automation features will drive the product demand during the forecast period. Favourable policies and incentives framed by regulators in compliance with emission targets will further accelerate the business expansion.
Some major findings in air source heat pump market report include:
- Growing demand for low carbon footprint heating equipment across commercial buildings to reduce monthly energy expenses will drive the business outlook.
- Retrofitting of conventional water heating systems with energy efficient units is growing to meet the energy efficiency standards for healthcare establishments.
- Implementation of strict building emission codes along with favourable incentives for clean technologies will boost the installation of efficient space heating & water heating solutions.
- Key players operating across air source heat pump market include Daikin, Bosch Thermotechnology, A.O. Smith Corporation, Vaillant Group, Mitsubishi Electric Corporation, Toshiba, Danfoss etc.
Browse key industry insights spread across 450 pages with 749 market data tables & 44 figures & charts from the report, "Air Source Heat Pump Market Statistics By Product (Air to Air, Air to Water), Application (Residential, Commercial), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 - 2028," in detail along with the table of contents: https://www.gminsights.com/industry-analysis/air-source-heat-pump-market.
Air source heat pump market from offices is expected to witness a significant growth over the forecast years on account of various features including greater area coverage along with higher thermal efficiency. Soaring need for a system to reduce the high electricity bill expenses coupled with economical operations of the system over other counterparts will further positively enhance the technology demand from office applications.
Seasonal space heating demand and soaring tourism industry will drive the product penetration across European region. Europe includes major tourism dependent economies including Netherlands, Italy, Spain, UK and others. The heating demand across growing non-residential projects including healthcare, warehouses, retail, offices, hotels and educational facilities will result in deployment of large number of energy efficient air source heat pumps across the European region over the forecast period.
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