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Europe Heat Pump Compressors Market Size – By Product (Air Source, Ground Source, Water Source), By Type (Reciprocating, Scroll, Rotary, Screw, Centrifugal), & Forecast, 2024 - 2032

  • Report ID: GMI11274
  • Published Date: Sep 2024
  • Report Format: PDF

Europe Heat Pump Compressors Market Size

Europe Heat Pump Compressors Market size was valued at USD 4.6 billion in 2023 and the industry is set to grow at CAGR of 18.9% up to 2032. Increasing demand for space heating & cooling, favorable government initiatives and paradigm shift towards the adoption of low-carbon technologies will complement the industry landscape.
 

Europe Heat Pump Compressors Market

For instance, from October 2023, the UK government amended its Boiler Upgrade Scheme, providing grants of USD 9,600 to install air or ground source heat pump. This initiative aims to facilitate the transition from fossil fuel heating to low-carbon alternatives. Moreover, ongoing research & development initiatives to introduce advanced heat pumps that boast superior operational efficiency and reduced energy consumption with low emissions will further shape the business dynamics.
 

Europe Heat Pump Compressors Market Trends

Europe heat pump compressors industry is set to grow owing to favorable initiatives by authorities to upgrade from conventional heating systems to cleaner, sustainable alternatives, along with financial incentives such as tax rebates and grants, toward adoption of heat pump systems. For instance, in May 2024, the Danish Energy Agency (Energistyrelsen) has rolled out new subsidies aimed at boosting residential heat pump installations. Homeowners can now receive a grant of over USD 2,500 for installing air-to-water heat pumps, and USD 4,000 for opting for liquid-to-water heat pumps. Moreover, accelerating investment in environmentally friendly and low-emission heating and cooling solutions along with stringent energy efficiency standards will further augment the business landscape.
 

Europe Heat Pump Compressors Market Analysis

Europe Heat Pump Compressors Market Size, By Product, 2022 - 2032 (USD Billion)

The air source segment is anticipated to grow over USD 22 Billion in 2032. Rising demand for reliable and efficient space heating, cooling and hot water solutions across residential and commercial applications coupled with growing inclination toward energy efficiency and reducing carbon emissions is augmenting the product demand. The ease of installation, cost-effectiveness and versatile operations along with ongoing technological advancements by key manufacturers to introduce enhanced heat pump systems are further driving the air source heat pump industry growth.
 

Ground source heat pump compressors segment is anticipated to witness significant momentum owing to growing emphasis on reducing carbon emissions and rising adoption of these systems in residential and commercial applications for space heating and cooling. Government grants across various nations supporting the deployment of these units will accelerate their adoption.
 

Europe Heat Pump Compressors Market Revenue Share, By Type, 2023

Scroll heat pump compressors market is set to grow at a CAGR of over 21% through 2032. Rising adoption of heat pump systems across residential, commercial establishments driven by increasing focus on decarbonization and demand for innovative compressor units with high Coefficient of Performance ratings, will complement the industry growth. Manufacturers are continuously improving the efficiency and performance of scroll compressors, enabling them to be more adaptive to the requirements of the end-users and HVAC system designers, augmenting the scroll heat pump compressors business dynamics.
 

Germany Heat Pump Compressors Market Size,  2022 - 2032 (USD Billion)

Germany heat pump compressors market is anticipated to grow over USD 7 billion by 2032. Variations in climatic conditions, focus on energy efficient building infrastructure, government support including subsidies and tax benefits for adoption of low carbon technologies have positively influenced the industry landscape. For instance, in January 2024, the German government revised funding options for heat pump installations, as reported by BWP. Property owners are eligible for a maximum subsidy of over USD 23,300 for heat pump installation. Moreover, increasing demand for heating & cooling solutions, growing urbanization, and increasing adoption of heat pumps in residential and commercial buildings are augmenting Germany heat pump industry outlook.
 

Europe Heat Pump Compressors Market Share

Europe Heat Pump Compressors Market Company Share Analysis, 2023

Major manufacturers are strengthening their market presence by pursuing strategic collaborations, partnerships, and mergers & acquisitions to enhance their competitive edge over the others. Carrier, SAMSUNG, Daikin and Danfoss, Panasonic and CAREL INDUSTRIES S.p.A. hold the major market share across the Europe heat pump compressors industry.
 

Europe Heat Pump Compressors Market Companies

Key players operating across the industry comprise of:

  • BITZER
  • Carrier
  • Copeland LP
  • CAREL INDUSTRIES S.p.A.
  • Danfoss
  • Daikin
  • Dorin S.p.A.
  • Emerson Electric Co.
  • GEA Group Aktiengesellschaft
  • GREE ELECTRIC APPLIANCES, INC.
  • InvoTech Scroll Technologies Co., Ltd.
  • LG Electronics
  • Mitsubishi Electric Corporation
  • Panasonic Industry
  • Samsung
  • Tecumseh Products Company LLC

 

Europe Heat Pump Compressors Industry News

  • In July 2024, Danfoss has unveiled three new compressors tailored for low-GWP and natural refrigerant the PSH scroll, VZN inverter scroll, and HGX56 CO2 T BOCK semi-hermetic reciprocating. These advancements are set to expedite the green transition for OEMs, bolstering both comfort and industrial heat pump systems. Strand emphasized the adaptability and user-friendliness of the new compressor series, boasting heating capacities ranging from 30 kW in the VZN range to an impressive 350kW in the BOCK compressors. Crafted with OEMs in mind, these products not only aim to reduce environmental footprints but also ensure adherence to regulations such as the European EPBD.
     
  • In February 2024, Copeland unveiled its latest YHV119 variable-speed scroll compressor, suitable for commercial heating applications. This launch broadens Copeland's already extensive portfolio of R-290-compatible compressors, specifically designed for reversible chillers and heat pumps. The newly launched Copeland YHV119 boasts an impressive heating capacity of up to 42 kW at its peak speed. Its compact design, featuring a minimized footprint and weight, simplifies the system's design, installation, and maintenance, also achieves a low superheat capability of less than 5K.
     

 

The Europe heat pump compressors market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2021 to 2032 for the following segments:

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Market, By Product, 2021 – 2032 (‘000 Units & USD Million)

  • Air Source
    • By type
      • Reciprocating
      • Scroll
      • Rotary
      • Screw
      • Centrifugal
  • Ground Source
    • By type
      • Reciprocating
      • Scroll
      • Rotary
      • Screw
      • Centrifugal
  • Water Source
    • By type
      • Reciprocating
      • Scroll
      • Rotary
      • Screw
      • Centrifugal

Market, By Type, 2021 – 2032 (‘000 Units & USD Million)

  • Reciprocating
  • Scroll
  • Rotary
  • Screw
  • Centrifugal

The above information has been provided for the following countries:

  • Austria
  • Norway
  • Denmark
  • Finland
  • France
  • Germany
  • Italy
  • Switzerland
  • Spain
  • Sweden
  • UK
  • Netherlands
Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

Europe heat pump compressors market size was valued at USD 4.6 billion in 2023 and will grow at 18.9% CAGR through 2032 due to the increasing demand for space heating & cooling.

The air source segment in the Europe heat pump compressors market is anticipated to exceed USD 22 billion by 2032 owing to the rising demand for reliable and efficient space heating.

Germany heat pump compressors market is anticipated to exceed USD 7 billion by 2032 backed by the variations in climatic conditions.

BITZER, Carrier, Copeland LP, CAREL INDUSTRIES S.p.A., Danfoss, Daikin, Dorin S.p.A., Emerson Electric Co., GEA Group Aktiengesellschaft, GREE ELECTRIC APPLIANCES, INC., and InvoTech Scroll Technologies Co., Ltd

Europe Heat Pump Compressors Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 14
  • Countries covered: 12
  • Pages: 80
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