Selbyville, Delaware , April 26, 2022 (GLOBE NEWSWIRE) --
The industrial heat pump market size is expected to record a valuation of USD 1.5 billion by 2028, according to the most recent study by Global Market Insights Inc. The soaring electricity demand across the industrial sector coupled with the usage of innovative & clean heating devices to reduce the overall carbon footprint will augment the business scenario.
Closed cycle absorption heat pumps are anticipated to observe a noteworthy growth on account of their ability to offer higher temperature increase over other alternatives. Favorable governmental policies & incentives to promote energy-efficient technologies, including heat pumps, will further boost technology acceptance globally. In addition, optimized energy efficiency even at higher temperature lifts and ability to be customized for combined heating & cooling applications are a few of the prominent features offered by closed cycle absorption heat pumps, further accelerate the industrial heat pump market.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/5253
The 2MW to 5MW capacity industrial heat pump market is poised to register a substantial growth owing to the increasing demand for large-scale applications. Upsurge in the need to capture more waste heat from large capital-intensive industry verticals to minimize the energy consumption, carbon footprint, and operational expenses will surge the global market from large heat pump systems. Moreover, the growing demand for district heating systems across countries including China, Russia, Germany, and Norway, amongst others will foster the technology adoption during the forecast period.
High temperature heat pumps with 100 - 150°C temperature ratings are predicted to show a steady demand growth during the forecast time due to the significant potential to decarbonize energy consumption across the energy-intensive industries. The continuous expansion of high temperature industrial processes across different verticals, including chemical, iron & steel, food & beverage, and paper, among others, will act as a catalyst in generating the demand for high temperature heat pump systems. Furthermore, the ability of these units to deliver required energy for hot water, heating, dehumidification, and cooling through closing cycles and thus reduce the energy intake will further complement the product penetration and spur the market expansion.
Asia Pacific industrial heat pump market is projected to showcase a significant gains on account of the rapid population surge coupled with the growing demand for district heating systems for space heating applications. Additionally, the governments across the region are introducing various tax credits, incentives, and schemes to promote the deployment of renewable technologies, positively influencing the business outlook across APAC region.
The major players operating in the industrial heat pump market are Vaillant Group, Swegon Group AB, Kensa Heat Pump, Finn Geotherm UK Limited, NIBE Industrier AB, Danfoss, Huntingdon Pump Company Limited, HELIOTHERM Wärmepumpentechnik Ges.m.b.H., GEA Group Aktiengesellschaft, Linde PLC, Verder Liquids, Qvantum Energi AB, Emerson Electric, Carrier, Oilon Group, Bosch Thermotechnik GmbH, and Trane.
Request for customization of this research report @ https://www.gminsights.com/roc/5253
Some of the key findings of the industrial heat pump market report include:
- Optimistic outlook toward the renewable sector will drive the technology acceptance during the forecast time frame.
- Refurbishment & retrofitting of the industrial sector to enhance energy efficiency will encourage the demand for sustainable technologies including heat pumps.
- The rising demand for space heating across the residential & commercial buildings will positively cater to the demand growth for industrial heat pumps from district heating applications.
- Favorable governmental initiatives & rebates to incorporate clean technologies to tackle the burgeoning GHG footprint will fuel the product adoption.
- Rapid urbanization & industrialization across developing nations will propel the requirement for sustainable technologies including heat pumps in the coming years.
Table of Contents (ToC) of the report
Chapter 3 Industrial Heat Pump Market Insights
3.1 Industry ecosystem analysis
3.2 Innovation & technology landscape
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.4.1 Top 10 countries impacted by COVID- 19
3.4.2 Overall view
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 North America
3.5.1.1.1 Increasing demand for energy-efficient systems
3.5.1.1.2 Favorable measures to reduce carbon footprints
3.5.1.2 Europe
3.5.1.2.1 Positive outlook toward renewable sector
3.5.1.2.2 Surging demand for space heating
3.5.1.2.3 Rapid urbanization and commercialization
3.5.2 Industry pitfalls & challenges
3.5.2.1 High upfront cost
3.5.2.2 Low co-efficient of performance (COP) levels
3.5.2.3 Varying consumer perspectives
3.6 Growth potential analysis
3.7 Porter's Analysis
3.8 Competitive landscape, 2021
3.9 PESTEL Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/industrial-heat-pump-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
