Dublin, June 02, 2023 (GLOBE NEWSWIRE) -- The "United Kingdom Air Source Heat Pump Market, By Process (Air to Air, Air to Water) By End Use (Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others), By Sales Channel, By Region, By Company, Forecast & Opportunities, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The United Kingdom Air Source Heat Pump Market is driven by rising awareness about the adverse effects of greenhouse gas, growth in infrastructure development to cater to the increasing population, along with various government schemes.
United Kingdom Air Source Heat Pump market has been fueled by the rising need for heat pumps brought on by the expansion of the residential and commercial building sectors as well as government subsidies for improving energy efficiency and lowering carbon emissions. Additionally, because residential facilities have more affordable heat pumps, the demand has increased.
Due to their great energy efficiency and low carbon emissions, several governments are attempting to enact energy conservation legislation. To organize, monitor, and create energy conservation policies as part of its energy efficiency policy, the U.K. government established energy efficiency offices.
Government Schemes are Driving the Market Growth
To lower carbon emissions in houses, the government revealed a USD 4.7 billion funding package as part of the Heat and Buildings Strategy. This funding package includes the boiler upgrade program. Heat pumps, which are more environmentally friendly than natural gas boilers, can be purchased for UK houses with government funding. For air source heat pumps, homeowners are eligible for government grants worth up to USD 6,050.
The Scottish government's "Home Energy Scotland" is a project to end fuel poverty in Scotland. The program provides interest-free loans to cover the upfront expenditures of renewable energy sources, including ground and air-source heat pumps. Through this program, one can receive up to USD 21,100 interest the consumers when they install devices with renewable energy. Depending on the type of renewable system chosen, one can also gain from a payback of up to 75%. These schemes from the government are encouraging consumers to buy more heat pumps which are fueling the market growth in the forecast period.
Initiatives from Companies are Fueling the Market Growth
To support the government, many companies are stepping forward and taking initiatives to install more heat pumps in the country; along with that, they are offering heat pump installations at a cheaper rate. For instance, British Gas offers both energy and residential services in the UK. To assist more of their clients in reducing their emissions, they have announced that they will be offering heat pump installations for USD 6,050. As a result, British Gas completed its first installation of an air source heat pump in 2022 as part of its British Gas rollout plan. Under the PH Jones brand, the parent firm of British Gas, Centrica, is currently putting in air source heat pumps in social housing, and they have already installed more than 1,500 units annually and are planning to install 20,000 units by 2025.
Energy Efficiency of Heat Pump Water Heaters Fuels Market Growth
One of the most efficient home heating systems available today is air-source heat pumps. Traditional boilers are 92% efficient. This means only 92% of the energy is utilized by the boiler to convert into heat generation for the house. Therefore, by using fossil fuels to generate heat, the consumer loses at least 8% of the energy. Older boilers may even lose 30% of their energy and have an efficiency of around 70%. On the other hand, heat pumps have an efficiency rating of over 300%, producing 3kW of heat energy for every kW of power used. Heat pumps are a preferable option when compared to fossil fuel options when it comes to the environment. Due to energy-efficient properties, consumers are shifting towards air-source heat pumps in order to save their electricity bill, due to which the market is expected to grow during the forecast period.
Report Scope:
In this report, United Kingdom Air Source Heat Pump market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
United Kingdom Air Source Heat Pump Market, By Process:
- Air to Air
- Air to Water
United Kingdom Air Source Heat Pump Market, By End Use:
- Residential
- Hotels & Resorts
- Gym & Spas
- Education
- Food Service
- Others
United Kingdom Air Source Heat Pump Market, By Sales Channel:
- Plumbers
- Dealers & Contractors
- Retail
- Direct Sales
- Online
- Others
United Kingdom Air Source Heat Pump Market, By Region:
- England
- Scotland
- Wales
- Northern Ireland
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Voice of Customer Analysis (B2C Model Analysis)
5. United Kingdom Air Source Heat Pump Market Outlook
6. United Kingdom Air to Air Heat Pump Market Outlook
7. United Kingdom Air to Water Heat Pump Outlook
8. Market Dynamics
9. Impact of COVID-19 on United Kingdom Air Source Heat Pump Market
10. Market Trends & Developments
10.1. Evolution of Refrigerant
10.2. Growing Demand for Wi-Fi enabled Heat Pumps
10.3. Increasing Schemes from Government
10.4. Rising Awareness of Geo-thermal as Energy Source
11. Porter's Five Forces Model
12. SWOT Analysis
13. Competitive Landscape
14. Strategic Recommendations/Action Plan
15. About the Publisher & Disclaimer
A selection of companies mentioned in this report includes
- Viessmann Climate Solutions SE.
- Vaillant Group UK Limited
- Daikin Airconditioning UK Ltd.
- Hitachi Europe Ltd.
- Robert Bosch UK Holdings Limited
- NIBE Energy Systems Limited
- Samsung Electronics (UK) Limited
- Trane UK Limited
- Aermec UK Ltd
- Mitsubishi Electric Europe B.V.
For more information about this report visit https://www.researchandmarkets.com/r/xsgumc
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
