Home > Industrial Machinery > HVAC > Heat Pumps > Europe Hydronic Heat Pump Market

Europe Hydronic Heat Pump Market Trends

Report ID: GMI11606
Published Date: Sep 2024
Report Format: PDF

Download Free Sample

Europe Hydronic Heat Pump Market Trends

Europe hydronic heat pump market is experiencing significant growth owing to the increasing demand for hot water and space heating along with expansion and development of building infrastructure. Rising adoption of reliable and energy-efficient technologies in residential and commercial establishments and growing focus on improving energy efficiency in buildings is set to augment the industry growth. Stringent emissions regulations and favorable initiatives promoting heat pump deployment are further bolstering the industry outlook. For instance, in May 2024, Fifteen European Union member states released a collaborative document urging the European Commission to prioritize the decarbonization of heating and cooling systems. This initiative aims to enhance the EU's energy independence and support the achievement of its 2040 climate objectives.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The European market for hydronic heat pump was valued at USD 11.1 billion in 2023 and is estimated to grow at a 20.7% CAGR from 2024 to 2032, driven by the rapid development of energy-efficient building infrastructures and increasing urbanization.

The air-to-water segment is set to grow over USD 59 billion by 2032, fueled by the demand for efficient heating, cooling, and hot water solutions in buildings, along with technological advancements and a shift towards energy-efficient solutions.

The German hydronic heat pump market is projected to exceed USD 27.5 billion by 2032, driven by new building constructions, consistent demand for temperature control, and favorable regulatory and financial incentives.

Major players in the industry include Carrier, Clivet, Daikin, Frost Italy, Johnson Controls, Kensa Heat Pumps, LG Electronics, Lochinvar, Mitsubishi Electric, Panasonic, Radiant Bruciatori, Samsung, Stiebel Eltron, Thermia Heat Pumps, and WaterFurnace.