According to the Graphical Research new growth forecast report titled “Europe Heat Pump Market Share By Application (Residential {Single Family, Multi Family}, Commercial {Educational Institutes, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality}, Industrial), By Product (Air Source, Ground Source, Water Source), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026”, to Undertake Strapping Growth by 2026.

Europe heat pump market value is anticipated to grow on account of rising demand for energy efficient, heating systems to minimize the electricity bills across commercial and residential establishments. Fluctuating fuel prices coupled with rising focus to reduce the import dependency are some of the key factors stimulating the product demand. The policy makers are providing financial assistance through several programs and incentives including tax rebate, zero interest rate loan, direct grants to encourage the penetration of renewable heating appliances. The geothermal heat pumps are capable of reducing the electric heating bills by 30 to 60% in comparison to the conventional heating units.

Rising concerns toward growing emissions along with increased focus to limit fossil fuel consumption will foster the Europe heat pump market growth. Respective governments have introduced various renewable energy targets and energy efficiency norms to curb the CO2 emissions. For instance, as per the EU’s target, the part of its 2030 climate and energy framework, the members are directed to reduce the emissions by at least 40 percent.

Europe Air source heat pump market share is predicted to grow on account of key benefits including low cost, zero expense for groundwork and limited space requirement. The units are capable of limiting the greenhouse gas emissions by 40 percent in comparison with the conventional heating units. Growing demand for water heating solutions have facilitated the adoption of air to water heat pumps over air to air units. However, additional air purification features along with ability to provide hating at moderate temperatures will positively enhance the business outlook.

Ongoing construction of new commercial facilities including hospitals, shopping complexes and office buildings will stimulate the demand across heat pump market. Increasing deployment of HVAC systems that be flexibly incorporated with traditional systems both across existing and new facilities will augment the business outlook. In addition, significant reduction in utility bills along with ongoing improvement in existing designs will augment the business landscape.

The UK heat pump market size is set to grow on account of growing regulatory stringency toward adoption of energy efficient heating appliances. Improving purchasing power parity along with rising building re-establishment and refurbishments activities have resulted in robust adoption across residential sector. In addition, ongoing shift toward adoption of newer technologies and substantial improvement in living standards will complement the industry landscape.

Key players operating across the Europe heat pump industry include Trane, Viessmann, Vaillant, Glen Dimplex, Swegon, Stiebel Eltron, Thermic Energy, Bosch Thermotechnology, Solarbayer, Danfoss, Weishaupt, Wolf, Daikin, Toshiba, NIBE, Carrier Corporation, Systemair and Modine. The leading companies are opting for mergers, acquisition and technological partnerships to sustain their competitive in the industry. The industry is highly consolidated with a limited number of participants holding maximum market share.

Europe Heat Pump Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:

Europe Heat Pump Market Size, By Application

• Residential

• Single Family
• Multi Family

• Commercial

• Educational Institutes
• Healthcare
• Retail
• Logistics & Transportation
• Offices
• Hospitality

• Industrial

Europe Heat Pump Market Share, By Product

• Air Source
• Ground Source
• Water Source