Selbyville, Delaware, March 16, 2020 (GLOBE NEWSWIRE) --
Global Water Source Heat Pump Market value is set to cross USD 1.6 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Shifting focus toward the deployment of energy efficient heating & cooling technologies will positively influence industry statistics over the forecast timeframe.
High sustainability & efficiency, lesser space requirement, and lower operating costs are some of the paramount features driving the demand for water to air heat pumps globally. The water to air heat pumps consists of a simple symmetrical duct layout with low velocity and low-pressure characteristics, which provides a higher coefficient of performance to these products. Moreover, the growing demand for clean energy technologies will further boost the industry growth.
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The hybrid WSHP will witness significant growth on account of growing heating requirements across commercial and residential sectors. These systems can provide increased cooling & heating capacity, higher efficiency, reduced dependency upon a water source, enhancing product demand. In addition, higher power output and reliability of these systems owing to the utilization of two independent refrigerant circuits will boost the technology penetration.
Some key findings of the water source heat pump market report include:
- The demand for water source heat pump is surging across the commercial sector due to benefits such as higher energy efficiency, environmental compliance, cleaner operations, etc.
- Regulations regarding the reduction of carbon footprint are expected to drive business growth
- Major players operating across the water source heat pump market include Carrier Corporation, Daikin, Johnson Controls, Bosch Thermotechnology, Trane, and STIEBEL ELTRON GmbH & Co. KG
- WSHPs have a CoP of around five with superior operational efficiency i.e., five units of heat can be obtained with the input of one unit of electricity, which will significantly propel the industry statistics
- Volatile fossil fuel prices and growing concerns toward energy security & impact of emissions on climate are some of the major factors accelerating the demand for energy-efficient systems
Browse key industry insights spread across 370 pages with 616 market data tables & 45 figures & charts from the report, “Water Source Heat Pump Market Statistics By Technology (Open-loop, Closed loop, Hybrid), Products (Water to Air, Water to Water), Application (Residential, Commercial {Educational Institutions, Office Buildings, Healthcare, Others}, Industrial), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/water-source-heat-pump-market
Stringent emission regulations coupled with the growing demand for efficient heating & cooling systems in the industrial sector will stimulate industry growth over the forecast timeline. As per the IEA, these systems can reduce CO2 emissions by 5% and 50% in industrial and building sectors. In addition, the introduction of energy-efficiency directives and energy norms to achieve renewable targets will further enhance the business landscape.
The Europe water source heat pump market is set to witness strong growth owing to positive regulatory regime, supported by a multitude of fiscal support schemes and policies for sustainable heating systems. In addition, European countries are focusing more on reducing dependency on energy import and minimizing carbon dioxide emissions by enhancing renewable energy mix. The introduction of several incentives including Investment Grant and Low or Zero Interest Loan will further augment industry growth in the forthcoming years.
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Browse Related Reports:
Air Source Heat Pump Market Statistics By Application (Residential{Single-family Houses, Multi-family Apartments}, { Domestic Hot Water Heat Pump, Room Heat Pump}, Commercial{Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality, Others}, Industrial), Products (Air to Air, Air to Water), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024
https://www.gminsights.com/industry-analysis/air-source-heat-pump-market
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.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.