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Europe Industrial Heat Pump Market Trends

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

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Europe Industrial Heat Pump Market Trends

Europe industrial heat pump industry is anticipated to grow owing to implementation of stringent energy efficiency standards, adoption of cutting-edge technologies, and rising environmental concerns. Favorable regulatory environment that encourages adoption of energy-efficient technologies coupled with introduction of energy efficiency targets by the authorities are encouraging industries to adopt energy efficient systems. For instance, by enabling Member States to support net-zero technologies through strategic projects with priority status, accelerated permitting timelines, and simplified procedures, the EU passed the Net-Zero Industry Act in May 2024, with a goal of improving domestic manufacturing of clean technologies.

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.