Dublin, May 25, 2023 (GLOBE NEWSWIRE) -- The "France Air Source Heat Pump Market By Process , By End Use, By Sales Channel, By Region, By Company, Forecast & Opportunities, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The France air source heat pump market size is anticipated to register an impressive CAGR to 2028
A variety of factors influence the heat pump market in France. Energy costs, laws, perceptions of the public, and heat pump performance compared to other heating or cooling solutions impact it. Technical development is leading to more efficient and attractive products. Due to their various benefits, heat pumps are expected to gain popularity in France during the forecast period.
Heat pumps are exterior-mounted cooling and heating solutions for buildings. Heat pumps do not generate heat while they transfer it. They operate like air conditioners, moving air from a hot area to a cold room where it is required and vice versa to heat and cool a home. When the inside house is hotter than the outside, they pump in cold air to cool it; the opposite happens when the place is cold. These appliances use electricity to pump air and a refrigerant to transfer heat.
Therefore, they are more energy-efficient than furnaces and air conditioners in all conditions. Air Source Heat Pumps (ASHP) can be classified into two major types based on their process air to water and air-to-air heat pumps. In an air-to-water heat pump, the pump extracts the heat in the air from the outside home.
It uses it to heat the water used in the home's radiators, while an air-to-air pump carries air from outside the home, transforming cold air into hot air and dispersing it around the house using fan coils. This mechanism can also reverse in the summer, turning hot air into the cold.
According to the energy monitor's analysis of European Heat Pump Association (EHPA) data, France is Europe's leading market for heat pump sales, with close to 400,000 units sold in 2020. Heat pumps are capable of a wide temperature range in terms of technology. They can perform effectively in temperature levels of down to -25C and efficiently supply hot water at 65C.
The market for heat pumps in France started rising when the energy usage of new buildings was limited by French building standards. This essentially ruled out electric heating systems and paved the way for heat pumps. The fact that heat pumps are regarded as clean as well heat pumps emit zero local emissions.
Heat pumps are so prevalent that they should be considered a mainstream option for that application, with a share of 40% in new buildings. Heat pumps are available from numerous manufacturers, and most installers are experienced in their installation. Air-water heat pumps continue to see growth in the industry.
Government Rebates in France Fuels the Market Growth
In 2022, the environment minister announced that France would stop supplying government subsidies for installing new domestic gas heaters and increase support for renewable energy heating, such as heat pumps, to reduce dependency on Russian fossil fuel exports. France intends to stop importing Russian gas and oil by 2027 as part of a government "resilience strategy" to aid individuals and companies in coping with the economic effects of Russia's invasion of Ukraine.
France will modify its "MaPrimeRenov" subsidy program to accelerate the switch from fossil fuel-fired heaters to renewable heating options such as heat pumps and biomass heaters, including hybrid systems, to lower gas demand. France will also provide 150 million euros through its national environment and energy agency ADEME (Agence De La Transition Ecologique) to encourage companies and municipalities to switch to renewable heating.
Therefore, various rebates by France government toward heat pumps will gain popularity in France in the upcoming years, increasing the demand for air-source heat pumps in France.
More Efficient at Providing Heating Services Drives the Market Growth
Energy efficiency is crucial when designing a heating system. After solar energy, heat pumps are the second most effective household heating option.
Additionally, heat pumps utilize less electricity. Heat pumps can assist an individual in saving up to 50% on residential heating expenses compared to heaters, furnaces, and other electric resistance heating. Heat pumps use less energy and provide a pleasant and comfortable home than standard air conditioners when it comes to reducing humidity in the summer.
France is trying to reduce the initial costs of heat pump installation, simplify the laws governing home renovations, and provide energy certificates to encourage even low-income homes to transition to air-source heat pump heating and cooling solution, which will further increase the demand for air-source heat pump due to its energy efficiency over others heating or cooling solutions in France market.
Environmental Benefits of Heat Pump Drive the Market Growth
The heat pump impacts both CO2 emissions and the overall energy bill. There will be CO2 emissions whether you use heat pumps or natural gas to heat and cool your home. However, heat pumps emit substantially less CO2 than heaters fueled by fossil fuels.
There is no conversion process with heat pumps. Depending on the type of heat pump an individual has, they absorb thermal energy from the environment, compress it to increase its efficiency, and then move it where required. The average heat pump maintains a 300% efficiency rate, significantly reducing energy waste. Hence, it is considered that heat pumps are better for the environment than other energy sources.
Moreover, researchers found that installing heat pumps for space heating could lower greenhouse gas emissions. Therefore, due to the shift from fossil fuels to renewable energy, heat pumps are expected to gain popularity in France during the forecast period, increasing the demand for air-source heat pumps in France.
Market Dynamics
Drivers
- Rebates of Government
- Requires Low Maintenance Cost
- Advantage over Conventional Water Heating Systems
Challenges
- High upfront cost
- Issues in Extreme Cold Weather
Market Trends & Developments
- Influence by Growing Environmental Concerns
- Awareness Towards Public Policies
- Rise in Environment Friendly Energy Solution
- Availability of More Economical Solution for Cooling and Heating
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in France air source heat pump market.
- Mitsubishi Electric Europe B.V.
- Daikin Airconditioning France SAS
- STIEBEL ELTRON GmbH & Co. KG (DE)
- Groupe Atlantic
- De Dietrich S.A.S.
- Auer SAS
- Panasonic Marketing Europe GmbH
- Saunier Duval Eau Chaude Chauffage SAS
- Airwell Residential SAS
- Hitachi Europe Limited
Report Scope:
France Air Source Heat Pump Market, By Process:
- Air to Air
- Air to Water
France Air Source Heat Pump Market, By End Use:
- Residential
- Hotels & Resorts
- Gym & Spas
- Education
- Food Service
- Others
France Air Source Heat Pump Market, By Sales Channel:
- Plumbers
- Dealers & Contractors
- Retail
- Direct Sales
- Online
- Others
France Air Source Heat Pump Market, By Region:
- Northern France
- Western France
- Southern France
- Eastern France
- Central France
For more information about this report visit https://www.researchandmarkets.com/r/qe0y5n
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.
