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Asia Pacific Industrial Heat Pump Market Size

Report ID: GMI6429
Published Date: Aug 2023
Report Format: PDF

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Asia Pacific Industrial Heat Pump Market Size

Asia Pacific Industrial Heat Pump Market size was valued at over USD 480 million in 2023 and is poised to grow at 5.8% CAGR between 2024 and 2032. Rapidly expanding industrial energy consumption, growing measures to reduce the overall carbon footprint, and positive outlook towards adoption of energy-efficient alternatives are some of the key imperatives propelling the industry landscape. In addition, encouraging regulatory framework to keep a check on the greenhouse gas emissions from manufacturing & industrial establishments while reducing the energy consumption will unveil new opportunities for the regional industry landscape.

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An industrial heat pump is a type of large scale heat pump systems with high capacity range that enables to capture waste heat stream and reuse it for other purposes after a significant temperature lift. Industrial heat pumps are integrated across wide range of verticals including manufacturing, chemical processing, food production, and many others, to efficiently provide heating or cooling requirements for industrial processes while minimizing energy consumption and environmental impact. Moreover, various countries have implemented energy management systems and performance standards across industries to promote energy efficiency primarily across energy-intensive sectors positively catering to the industry expansion.

Asia Pacific Industrial Heat Pump Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Industrial Heat Pump Market Size in 2023:	USD 480 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.8%
2032 Value Projection:	USD 790 Million
Historical Data for:	2019 to 2023
No. of Pages:	285
Tables, Charts & Figures:	372
Segments covered:	Product, Capacity, Temperature, Application, and Country
Growth Drivers:	Rapidly increasing energy demand Fast paced rate of urbanization & industrialization Mounting investments across energy-intensive industrial infrastructures Positive outlook to minimize the carbon footprint
Pitfalls & Challenges:	Substantial initial deployment cost

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Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market for Asia Pacific industrial heat pump was reached USD 480 million in 2023 and is projected to observe a growth rate of 5.8% through 2032, owing to focus on minimizing the carbon footprint.

Air source industrial heat pump market segment in Asia Pacific is predicted to observe substantial expansion through 2032, on account of the growing integration of the product to deliver space heating and cooling for factories, large establishments, and other industrial processes requiring advanced temperature control.

China industrial heat pump industry was valued at over USD 223 million in 2022 and is set to observe positive upsurge over 2023-2032, backed by the rising urbanization & industrialization, growing energy consumption, paradigm shift towards low carbon alternatives, and mounting investments in heavy-duty energy-intensive industrial infrastructure.

MAN Energy Solutions, Johnson Controls, Carrier, Guangdong PHNIX Eco-energy Solution Ltd., Atlas Copco AB, Suntec Energy Systems, Clade Engineering Systems Ltd, Piller Blowers & Compressors GmbH, BROAD Group, World Energy, Thermax Limited, and MAYEKAWA AUSTRALIA PTY LTD.