Europe Industrial Heat Pump Market worth $300 Million by 2027, Says Global Market Insights Inc.

Europe Industrial Heat Pump Industry is set register more than 6% CAGR between 2021 and 2027, owing to soaring energy demand across the industries.

Selbyville, Delaware, UNITED STATES

Selbyville, Delaware, April 08, 2021 (GLOBE NEWSWIRE) --

The Europe Industrial Heat Pump Market is expected to surpass USD 300 Million by 2027, as reported in the latest study by Global Market Insights Inc. Ongoing regulatory measures toward energy optimization across industrial premises to reduce the operational costs which will surge the industrial heat pump demand substantially.

Closed cycle absorption heat pumps segment is set to witness a substantial growth in the forecast period, owing to its ability to deliver higher temperature lift by utilizing a two-component working fluid. Ability to be customized for combined cooling and heating applications, constant energy performance even at higher temperature lifts are some of the prominent features offered by these units which is stimulating its adoption over other substitutes. These units predominantly find application across district heating on account of its energy efficient performance, which in turn propels the Europe industrial heat pump industry trends from closed cycle absorption heat pumps.

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Some major findings of Europe industrial heat pump market report include:

  • Governmental efforts to introduce energy efficient technologies across industrial sector will propel the product penetration.
  • Stringent carbon emission norms across Europe will proliferate the industrial heat pump business outlook.
  • Increasing investments across industrial infrastructure development in Europe will positively impact the product preference.
  • Growing preference for district heating applications in the region will favor the industrial heat pump adoption.
  • Key players operating across the Europe industrial heat pump market are Danfoss, Emerson Electric Co., Thermax Limited and Viessmann amongst others.  

Browse key industry insights spread across 170 pages with 145 market data tables & 27 figures & charts from the report, “Europe Industrial Heat Pump Market Analysis By Product (Closed Cycle Mechanical Heat Pump, Open Cycle Mechanical Vapor Compression Heat Pump, Open Cycle Thermocompression Heat Pump, Closed Cycle Absorption Heat Pump), Application (Chemical, Pulp & Paper, Food & Beverage, District Heating), Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:

Growing large scale space heating requirement across commercial & residential establishments coupled with governmental regulations pertaining to rising carbon footprint has reinstated the demand for industrial scale district heating heat pumps in the region. Changing climatic conditions across the region will augment the demand for effective space heating systems, thus proliferating the business outlook for these heat pumps in the forecast period. Increasing requirement for clean systems with lower carbon footprint and high energy efficiency will further propel the Europe industrial heat pump market from district heating application.

Industrial heat pumps are gaining a wide recognition across Germany on account of the presence of a large number of energy intensive industries including chemical, pulp & paper, food processing and equipment manufacturing. For instance, as per the Eurostat, Germany accounted for nearly 30% of the industrial production in the EU-27 countries in 2019. Furthermore, growing adoption of energy efficient technologies to fulfil district heating requirement will further enhance the demand for these units, thus augmenting Europe industrial heat pump market statistics.

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Browse Related Report:

Heat Pump Market by Product (Air Source, Ground Source, Water Source), Application (Residential {Single Family, Multi Family}, Commercial {Educational Institutes, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality}, Industrial), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

About Global Market Insights

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.


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