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Europe Heat Pump Compressors Market Trends

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

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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.

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