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Europe Heat Pump Market Top Trends, Future Analysis & Forecast 2022-2030

Europe Heat Pump Market Top Trends, Future Analysis & Forecast 2022-2030

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Europe Heat Pump Market Top Trends, Future Analysis & Forecast 2022-2030

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  1. Europe Heat Pump Market is expected to be USD 29.1 Billion by 2030

  2. Industry Overview • The Europe heat pump market is anticipated to record robust growth through 2030 driven by new initiatives for the development of energy-efficient commercial/residential building stocks. In May 2022, the European Commission launched the 'EU Heating & Cooling Strategy' to address the heating and cooling requirements of buildings and industries, which account for 50% of the EU's annual energy consumption. • The region is also witnessing a rapid influx of investments for the development of innovative infrastructure with low energy-consumption capabilities. In November 2021, Mitsubishi Electric Air Conditioning Systems Europe invested $18.5 million to boost the productivity, R&D, and efficiency capabilities of its Livingston manufacturing facility. The investment is aimed at developing next-generation heat pump technology in Scotland to meet the growing demand for low carbon heating systems to tackle climate change in Europe. • The Europe heat pump market has been segmented based on product, application, and region. • By product, the Europe heat pump industry is fragmented into water source, air source, and ground source. Water source heat pumps (WSHP) are expected to gain substantial demand amidst rising inclination to low carbon technologies in the region. The introduction of new WSHP units with improved operational capabilities will favor the industry landscape.

  3. Continue… • In terms of application, the Europe heat pump market share from commercial applications is projected to exhibit a CAGR of more than 8% by 2030. The region is witnessing the implementation of strict building energy codes. A surge in the number of initiatives for the modernization of commercial infrastructure with flexible cooling/heating operations will offer lucrative scope for heat pump businesses in Europe. • In July 2022, Daikin announced plans to invest $305 million in the construction of a new heat pump manufacturing facility in Poland. The new factory is expected to commence operations in July 2024 to meet the burgeoning demand for heat pumps in Europe. It will quadruple the production capacity by 2025 by boosting existing production in Belgium, Germany, and the Czech Republic. • From a regional perspective, the Norway heat pump industry is anticipated to witness tremendous opportunities with an estimated CAGR of more than 7% between 2022 and 2030. Recently, Norway is observing a considerable spike in the adoption of heat pump systems across residential applications. The region is also supporting large-scale research & development activities to advance operational performance and applications of existing heat pump technologies.

  4. Browse Full Market Research Report Of Europe Heat Pump Market @ https://www.gminsights.com/industry-analysis/europe-heat-pump-market Inquiry Before Buying@ https://www.gminsights.com/inquiry-before-buying/4839 Request for a Sample of this Research report @ https://www.gminsights.com/request-sample/detail/4839

  5. Europe Heat Pump Market

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