NEWARK, Del, Oct. 17, 2022 (GLOBE NEWSWIRE) -- The global heavy duty heat pump market is expected to undergo notable growth in the upcoming years. The market is projected to expand at a 2.5% CAGR through 2031. The estimated market growth will likely remain constant or presumably increase owing to the rise in demand for heating and cooling each year all over the world. Heavy-duty heat pumps provide heating and cooling service on a large basis.
For instance, residential parks, commercial buildings, district heating and cooling, data centers, etc., industrial and CHPCs get all their heating and cooling needs met by the application of these heavy duty heat pumps. Air source heat pumps, geothermal heat pumps, and absorption heat pumps are some of the types of heavy duty heat pumps- all of which contribute to the growth of the heavy duty heat pump market during the forecast period.
Request a Report Sample:
https://www.futuremarketinsights.com/reports/sample/rep-gb-13164
Heavy-duty heat pumps are gaining high utilization in residential, commercial, and industrial industries. These pumps also find usage in CHPCs because of their ability to provide a smooth uninterrupted supply of heating and cooling. Aside from the commercial sector, the district cooling and heating sector are also counted as a prime growth driver of the heavy duty heat pump market as they generate growing demand for hybrid and ground source heavy duty heat pumps. In addition to this, strategies adopted by major market players also aid the target market growth.
“Rising adoption of heavy duty heat pumps in CHPCs and district heating and cooling industry will propel the global growth of the heavy duty heat pump market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising heating and cooling needs all over the world stimulate market opportunities.
- High requirements for the target product due to weather conditions drive the heavy duty heat pump market growth in China.
- Air conditioning and heating needs in GCC countries will offer lucrative opportunities to the market.
- By refrigeration types, natural refrigerants like CO2 and ammonia will gain traction during the forecast period.
- On the basis of the power range, 10-20 MW will witness high demand.
Competitive Landscape
Thermax Ltd, Star Refrigeration, GEA Group, MAN Energy Solutions, Oilon OY, Siemens Energy, Johnson Controls, Friotherm AG, Engie Refrigeration GmbH, Daikin Industries, Enertech AB, and Mitsubishi Heavy Industries among others are some of the major players in the heavy duty heat pump market profiled in the full version of the report.
Key market players are concentrating on competitive price offerings, enhancing product performance and efficiency to cater to market demands. These enterprises are employing tactics such as increasing research and development activities via strategic partnerships and collaborations to launch innovative products in the market. Further, setting up sales and service facilities in emerging facilities along with long-term partnerships with regional distributors also helps these market players to expand their reach.
Get More Information on this Report:
https://www.futuremarketinsights.com/reports/heavy-duty-heat-pump-market
Heavy Duty Heat Pump Market
By Type
- Air-water Heat Pump
- Air-air Heat Pump
- Ground Source Heat Pump
- Hybrid Heat Pump
By Power Source
- Electric
- Gas Driven
By System Type
- Air Source Heat Pump
- Geothermal Heat Pump
- Absorption Heat Pump
By Refrigerant Type
- HFC
- CO2
- Ammonia
- Hydrocarbons
- Others
By Power Range
- 5 to 10MW
- 10 to 20MW
- 20 to 40MW
By End User
- Residential
- Commercial
- Industrial
- CHPCs
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Request Customization:
https://www.futuremarketinsights.com/customization-available/rep-gb-13164
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. DCH Market Growth
4.2. CHP & Data Center Cooling Systems Market Growth
4.3. Commercial Refrigeration Market growth
5. Global Heat Pumps Market Demand Analysis 2016–2020 and Forecast, 2021–2031
5.1. Historical Market Volume (‘000 units) Analysis, 2016–2020
5.2. Current and Future Market Volume (‘000 units) Projections, 2021–2031
Get detailed TOC:
https://www.futuremarketinsights.com/toc/rep-gb-13164
Top Reports Related To Industrial Automation Market Insights
Positive Displacement Pump Market Size - The global positive displacement pumps market is expected to garner a market value of US$ 13.78 Billion in 2022 and is expected to accumulate a market value of US$ 21 Billion by registering a CAGR of 4.3% in the forecast period 2022-2032.
Below 30 Hp Centrifugal Water Pump Market Share - The below 30 Hp centrifugal water pump market is anticipated to increase, from US$ 37.1 million in 2022 to US$ 68.95 million in 2032.
Combined Heat and Power (CHP) Systems Market Trends - The global combined heat and power (CHP) systems market is anticipated to be valued at US$ 28,412.4 Million in 2022, forecast to grow at a CAGR of 4.7% to be valued at US$ 45,123.5 Million from 2022 to 2032.
Heat Pumps Market Sales - Future Market Insights (FMI) has estimated the Heat Pumps Market to grow with a year-on-year growth of 3.6% in 2022 reaching a value of about US$ 33,156 Mn by 2022 end.
Water Source Heat Pump Market Demand - In 2022, the global water source heat pump market is likely to hold a value share of US$ 945 Million. With a CAGR of 4.5%, the market is projected at US$ 1,464 Million during the forecast period from 2022 to 2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
Enquiries: sales@futuremarketinsights.com
