Asia Pacific Industrial Heat Pump Market Analysis

Asia Pacific Industrial Heat Pump Market Analysis

Air source industrial heat pump systems are anticipated to observe substantial expansion on account of their growing integration to deliver space heating and cooling for factories, large establishments, and other industrial processes requiring advanced temperature control. Additionally, the ability of these units to operate over low global warming potential (GWP) refrigerants coupled with innovative design to deliver substantial temperature lift will boost the Asia Pacific industrial heat pump market dynamics

Encouraging initiatives to attain carbon neutrality while decarbonizing the building stocks along with industrial spaces across various verticals will boost the mechanical vapor compression (MVC) heat pump systems. Furthermore, growing efforts to foster the electrification of industrial process along with ongoing research & development efforts across the region to improve the efficiency, reliability, and applicability of MVC heat pump systems will further add to the Asia Pacific industrial heat pump market landscape.

Heat pump systems with up to 500 kW capacity ratings was estimated to hold the dominating position in 2022 and is set to register substantial expansion on account of their wide applicability across various sectors including manufacturing, chemical processing, food & beverage, pharmaceuticals, pulp & paper, and many others. Moreover, the cost-efficient operations along with ability to effectively recover waste heat and utilize the same for other processes, thereby improving overall energy efficiency.

Based on temperature, the industry is primarily segregated into 80-100°C, 100-150°C, 150-200°C, and > 200°C. The wide commercial availability of large heat pump units with up to 100 °C temperature ratings along with growing deployment of these units in different industrial processes including food and beverage pasteurization, chemical reactions, and pharmaceutical production, among others will boost the business outlook. In addition, the introduction of pioneering high temperature heat pump systems with the rating of over 100 °C and 150 °C across emerging countries to serve the hot air & water supply within industrial establishment will further proliferate the Asia Pacific industrial heat pump market dynamics.

China industrial heat pump market size surpassed USD 223 million in 2022 and is likely to observe positive upsurge over the forecast period. Rapidly rising rate of urbanization & industrialization, growing energy consumption, paradigm shift towards low carbon alternatives, and mounting investments in heavy-duty energy-intensive industrial infrastructure will favor the industry growth. Additionally, the rising adoption of smart technologies and Internet of Things (IoT) in the district heating sector utilizing waste heat from industrial processes, power generation, and other sources will add to the industry outlook.