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Europe Air Source Heat Pump Market Trends

Report ID: GMI2854
Published Date: Aug 2022
Report Format: PDF

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Europe Air Source Heat Pump Market Trends

The implementation of a supportive legislative framework along with the provision of financial benefit programs such as rebates, tax benefits, and subsidies will further bolster the Europe air source heat pump market landscape.

Different regional and national regulators have introduced favorable policies and norms to encourage consumers to install advanced technology alternatives. Over the last decade, heat pump adoption in Europe has increased, given the importance of ambient heat as a renewable heat source. According to the European Heat Pump Association, the sales of heat pumps jumped by 34% with close to 2.18 million units sold across 21 European countries. Such high sales numbers of heat pumps could foster industry expansion in the forthcoming years.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of Europe air source heat pump was valued at USD 15.9 billion in 2024 and is poised to grow at a CAGR of 18.6% from 2024 to 2032.

The residential segment is expected to register an 8% CAGR through 2030 driven by rapid urbanization, increased spending on domestic construction, and availability of innovative residential infrastructure.

The UK market is anticipated to grow at a 10% CAGR through 2030 driven by the surging demand for heat along with administrative support to augment the installation of heat pumps.

Trane, NIBE Industrier AB, Glen Dimplex Group, Panasonic Corporation, Viessman, A. O. Smith, SAMSUNG, TOSHIBA CORPORATION, LG Electronics, Lennox International Inc., and Rheem Manufacturing Company are some of the air source heat pump manufacturers in Europe.