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Europe Air to Water Heat Pump Market Trends

Report ID: GMI4808
Published Date: Jul 2024
Report Format: PDF

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Europe Air to Water Heat Pump Market Trends

Air to water heat pumps, known for their high efficiency and low environmental impact, are becoming a preferred choice for both residential and commercial applications. The EU's targets for reducing greenhouse gas emissions by 2030 further amplify this trend. Governments across Europe are offering various incentives and subsidies to promote the adoption of renewable energy technologies, including air to water heat pumps. Programs such as the Renewable Heat Incentive (RHI) in the UK and similar schemes in other EU countries are reducing the financial burden on consumers and encouraging more widespread adoption.

Continuous advancements and Innovations in heat pump technology including improvements in compressor technology, refrigerants with lower global warming potential (GWP), and advanced control systems are driving the market’s growth. These advancements not only increase the efficiency and performance of heat pumps but also make them more appealing to a broader audience.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of Europe air to water heat pump was worth about USD 10.4 billion in 2023 and will grow at 21.3% CAGR through 2032, due to the increasing demand for energy-efficient heating solutions.

The residential segment in the Europe air to water heat pump market is anticipated to cross USD 43.7 billion by 2032, due to the increasing urban population and stringent government initiatives.

Germany air to water heat pump market is estimated to reach USD 27.1 billion by 2032, on account of the stricter energy efficiency regulations and policies.

Carrier, Panasonic Corporation, FUJITSU GENERAL, Systemair AB, Glen Dimplex, WOLF, STIEBEL ELTRON GmbH & Co. KG, Aermec S.p.A, and Daikin among others.