Europe Heat Pump Market By Technology (Air Source, Water Source and Ground Source) By Application (Residential, Industrial and Commercial)
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The Europe Heat Pump Market would witness market growth of 8% CAGR during the forecast period (2019-2025). Increased demand for energy-efficient components is expected to lead the market over the coming years. A rise in the energy consumption across the residential and industrial sectors is expected to drive competition for energy-efficient products and technologies that minimize operational costs and increase energy savings.
A heat pump is an electrical device that extracts heat from one location and transfers it to another. Heat pumps are not a new technology; it has existed in the market for a long time. Popular examples of this technology are air conditioners and refrigerators. Heat pumps pass heat by circulating refrigerant through the evaporation and condensation process. The compressor pumps refrigerant between two heat exchanger coils. The refrigerant is evaporated in one coil at low pressure and retains heat from its atmosphere. The refrigerant is then compressed in the direction of the other coil in which it condenses at high pressure. At this stage, the heat stored earlier in the process is released.
Based on Technology, the market is segmented into Air Source, Water Source and Ground Source. Based on Application, the market is segmented into Residential, Industrial and Commercial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include United Technologies Corporation (Carrier Corporation), Daikin Industries Ltd., NIBE Industrier AB, Viessmann Group, Ingersoll-Rand PLC, Stiebel Eltron GmbH & Co. KG, Robert Bosch GmbH (Bosch Thermotechnology Corporation), Panasonic Corporation, Mitsubishi Electric Corporation and The Glen Dimplex Group.
Scope of the Heat Pump Market Analysis
- Air Source
- Water Source
- Ground Source
- Rest of Europe
- United Technologies Corporation (Carrier Corporation)
- Daikin Industries Ltd.
- NIBE Industrier AB
- Viessmann Group
- Ingersoll-Rand PLC
- Stiebel Eltron GmbH & Co. KG
- Robert Bosch GmbH (Bosch Thermotechnology Corporation)
- Panasonic Corporation
- Mitsubishi Electric Corporation
- The Glen Dimplex Group
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