The global residential heat pumps market size is expected to
reach USD 17.6 billion by 2025, according to a new report by Grand View
Research, Inc., expanding at a CAGR of 11.5% over the forecast period. Rising
spending on construction of new environmental friendly buildings in order to
cut down the greenhouse gas emissions is expected to be a key driver for the
market. In addition, consumers are increasingly adopting these eco-friendly,
cost-effective, and sustainable HVAC solutions on account of their shifting
inclination towards renovation, along with introduction of technologically
advanced HVAC infrastructure in home.
Energy produced around the globe is primarily
used for heating and cooling in buildings around the globe. The governments
have been focusing on reducing the burden of carbon footprints across the
globe, which leads to climate change, by eliminating the wide use of fossil
fuels in generating energy and other related purposes. In addition, they are
framing stringent policies and regulations for cutting down the greenhouse gas
emissions through various initiatives such as offering incentives for
installing heat pumps in the houses.
For instance, the governments of various
countries including U.S., Japan, Australia, and some European countries are
providing subsidies for installation of heat pumps in order to cut down the
carbon footprints. Moreover, it helps encouraging and promoting the consumers
to adopt renewable energy for heating and cooling.
The air to air technology segment held the
largest share of more than 60.0% in 2018 owing to its less requirement of
energy, along with higher output. Air sourced heat pumps can usually deliver
around three times more heat energy than the amount of electricity they
consume. For instance, in June 2017, Stiebel Eltron, introduced its one of its
popular WPL air source heat pumps in a plug and play version. This pump has
various qualities such as modern compact design and active cooling.
Asia Pacific was the largest market for
residential heat pump, accounting for more than 40.0% share of the global
revenue in 2018. The growth is attributed to increasing step towards adoption
of clean energy by the governments of various countries including China, Japan,
and South Korea. Additionally, growing middle-income population in developing
countries including China and India has been playing a crucial role in
increasing the spending on new residential structures, which, in turn, will
promote the utility of various residential heat pumps over the next few years.
For full research report on Residential
Heat Pump Market visit here: https://www.grandviewresearch.com/industry-analysis/residential-heat-pump-market
Further key
findings from the report suggest:
- By technology, water source residential heat
pumps are expected to expand at a CAGR of 11.5% from 2019 to 2025
- Europe is expected to be the fastest growing
market, expanding at a CAGR of 12.2% for 2019 to 2025 as a result of
increasing awareness regarding global warming in key countries including
Germany, U.K., and France
- Key players in residential heat pumps market
include Daikin Industries, Ltd., Emerson Electric Co., Carrier
Corporation, Vaillant Group, Mitsubishi Electric Corporation, Robert Bosch
LLC, Trane, Viessmann Limited, Nortek Global HVAC LLC, and GLEN DIMPLEX
GROUP
- Product innovation is expected to remain a key
strategy among the industry participants.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/residential-heat-pump-market/request/rs1
Grand
View Research has segmented the global residential heat pumps market on the
basis of technology, power source, and region:
Residential
Heat Pumps Technology Outlook (Revenue, USD Million, 2015 - 2025)
- Air to Air
- Water Source
- Others
Residential
Heat Pumps Power Source Outlook (Revenue, USD Million, 2015 - 2025)
- Electric Powered
- Gas Powered
- Others
Residential
Heat Pumps Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- Sweden
- France
- Asia Pacific
- China
- Japan
- South Korea
- Central & South
America
- Middle East &
Africa
- Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
No comments:
Post a Comment