Heat Pump Market's annual installation to cross 14 million units by 2025: Global Market Insights, Inc.

Sweden heat pump market is expected to achieve a significant CAGR from 2019 to 2025, driven by introduction of net zero emissions building norms coupled with increasing demand for sustainable H&C units.

Selbyville, Delaware, Sept. 03, 2019 (GLOBE NEWSWIRE) --

Global Market Insights, Inc., announces a report on ‘Heat Pump Market Trends & Forecast 2019-2025’. The report offers a comprehensive analysis of the product, application, and regional trends of the industry. Global Heat Pump Industry will achieve 4.5% CAGR to surpass USD 60 Billion by 2025

Rising shift towards renewable sources of energy coupled with increasing demand for power is propelling global heat pump market share. The demand for heating is consistently on the rise due to growing number of commercial structures being built worldwide. Increased disposable incomes among people will create a demand for residential buildings and expand heat pump industry outlook over the forecast timeframe.

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Several initiatives by regulatory authorities aimed at promoting sustainable and efficient heating solutions focusing on reducing electricity consumption are further steering heat pump market trends. Enforcement of stringent laws with respect to greenhouse gas emissions along with positive outlook towards adoption of renewable sources of energy will amplify the installation of cost-effective heating systems.

Ground source heat pumps are considered to be a rather clean way of heating buildings, free from carbon emissions. They utilize solar energy stored in the ground to provide highly energy-efficient mode of heating the building, making them highly popular in colder regions. Lack of fuel storage requirement, reduction in carbon emission, minimal maintenance requirement and cost efficiency are some of the vital factors offering lucrative growth opportunities to global heat pump industry trends.

Ground source heat pump market size is estimated to grow by more than 4% by 2025.

In terms of the application spectrum, heat pumps are deployed across the residential, industrial and commercial sectors. Residential is one of the lucrative application segments and in 2018, 80% of global heat pump market share was contributed by the residential segment. There has been an evident rise in residential infrastructure owing to the increase in purchasing power of consumers and growing population.

With expansion of the residential sector, there has been a proliferating demand for electricity. The need to control power cost and reduce carbon gas emissions is amplifying global deployment of heat pumps. Additionally, growing awareness towards improved living standards and revamping or refurbishing existing building structures is positively influencing the adoption of effective heating sources along with the prevalent energy systems.

Regionally, U.S. will emerge as one of the leading revenue pockets over the coming years owing to a rise in urbanization and purchasing power among people. With increasing industrial establishments and a robust economy, people are spending more on enhancing residential and commercial infrastructures thereby driving the regional heat pump market share.

Browse key industry insights spread across 390 pages with 574 market data tables & 50 figures & charts from the report, “Heat Pump Market Size” in detail along with the table of contents:


Several government and regulatory frameworks are targeting carbon emission levels in the region by spreading awareness among citizens and levying strict regulations. Heat pumps are witnessing remarkable traction in the U.S. owing to widespread economic and environmental benefits.

China heat pump industry is slated to register a steady CAGR of over 2% over 2019-2025.

Strict norms related to consumption of fossil fuel-based electricity and proper disposal of wastewater techniques is generating lucrative opportunities for heat pump suppliers in China. The extensive use of water and power to meet the robust industrial power consumption will bolster the utilization of heating and cooling equipment.

Rapidly expanding population along with the rising disposable incomes as a result of enhanced industrialization in China will boost the residential sector and drive the demand for efficient energy management solutions, widening opportunities for heat pump market players.

Kensa Heat Pumps, Thermic Energy, Solarbayer, Stiebel Eltron, Green Planet Supply Technologies, Daikin and Mitsubishi Electric are some of the prominent companies outlining the competitive dynamics of global heat pump industry.

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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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