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Europe Industrial Heat Pump Market Size

Report ID: GMI5025
Published Date: Jul 2024
Report Format: PDF

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Europe Industrial Heat Pump Market Size

Europe Industrial Heat Pump Market was valued at USD 464.1 million in 2023 and is set to grow at CAGR of 5.7% from 2024 to 2032. Rising heating & cooling demand across industrial operations along with increasing utilization of waste heat from various industrial processes will complement the industry landscape.

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Strong emphasis toward energy-efficiency coupled with favorable regulatory norms by respective authorities will positively influence the business dynamics. For instance, in March 2203, The EU introduced Net-Zero Industry Act to simplify regulations, develop European standards, set industrial capacity targets for 2030, and promote public procurement of clean technologies.

Europe Industrial Heat Pump Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Industrial Heat Pump Market Size in 2023:	USD 464.1 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.7%
2032 Value Projection:	USD 765.8 Million
Historical Data for:	2021 - 2023
No. of Pages:	65
Tables, Charts & Figures:	12
Segments covered:	Product, Capacity, Temperature, Application and Country
Growth Drivers:	Rising demand for space heating and positive outlook toward renewables Favorable regulatory landscape and supportive policies to curb carbon footprint
Pitfalls & Challenges:	High upfront cost

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Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of Europe industrial heat pump was worth USD 464.1 million in 2023 and is expected to register 5.7% CAGR from 2024 to 2032, owing to the rising heating & cooling demand across industrial operations along with increasing utilization of waste heat from various industrial processes.

Europe industrial heat pump industry from the air source heat pump segment is expected to reach USD 270 million by 2032, due to the growing demand for efficient space heating, cooling and hot water solutions across industrial applications.

Finland industrial heat pump industry is likely to exceeded USD 90 million by 2032, due to growing demand for reliable heating systems with enhanced degree of independence and increasing energy cost in the country.

Carrier, Danfoss, Johnson Controls, MAN Energy Solutions, OCHSNER, Oilon Group Oy, Piller Blowers & Compressors GmbH, Qvantum Energi AB, Siemens Energy, Swegon Group AB, Thermax Limited, and Turboden S.p.A, are some of the major industrial heat pump companies from Europe.