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Europe Heat Pump Water Heater Market Trends

Report ID: GMI6302
Published Date: Jul 2024
Report Format: PDF

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Europe Heat Pump Water Heater Market Trends

Europe heat pump water heater industry is set to observe significant expansion owing to the stern energy efficiency standards, growing emphasis on reducing carbon footprints, continuous advancements, and encouraging decarbonization goals. A heat pump water heater is a type of air to water heat pump or hydronic heat pump designed to deliver better energy-efficiency than conventional electric water heaters, while lowering GHG emissions. Moreover, various nations have introduced various incentive programs including subsidies, tax rebates, and grants to encourage the installation of heat pump systems.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of Europe heat pump water heater was crossed USD 1.2 billion in 2023 and will observe 17% CAGR from 2024 to 2032, due to the increasing demand for advanced water heating systems designed for efficient operations

The residential application segment in the Europe heat pump water heater industry will depict over 16.5% CAGR through 2032, owing to the surge in housing construction and renovation, and intensive efforts to transition from traditional units.

Germany heat pump water heater market size is projected to exceed USD 1 billion by 2032, driven by rising developments in new housing units and retrofitting, alongside the implementation of incentives and policies for promoting energy-efficient water heating systems.

Some of the key Europe heat pump water heater market players include A.O. Smith Water Products Company B.V., Daikin, STIEBEL ELTRON GmbH & Co. KG, Glen Dimplex Group, Panasonic Marketing Europe GmbH, SAMSUNG, LG Electronics, Ariston Holding N.V., Haier A/C, and Hubbell Heaters