Europe Reciprocating Heat Pump Compressors Market - By Application & Forecast, 2024 - 2032

Europe Reciprocating Heat Pump Compressors Market Size

Europe reciprocating heat pump compressors market size was valued at USD 1.5 billion in 2023 and is estimated to grow at CAGR of 17.6% from 2024 to 2032. Rising demand for heating and cooling systems, along with supportive government policies and a move towards low-carbon technologies, is shaping the business landscape.
 

For instance, in March 2024, The European Commission has approved a USD 379 million scheme for Portugal. This program will provide direct grants to companies manufacturing equipment essential for transitioning to a net-zero economy, aligning with the Green Deal Industrial Plan. The supported products include heat pumps and their components.
 

Europe Reciprocating Heat Pump Compressors Market Trends

Europe reciprocating heat pump compressor market is anticipated to grow owing to governmental support for transitioning to cleaner, sustainable heating alternatives along with rising adoption of HP systems and varying climatic conditions. Introduction of financial incentives by the authorities, such as tax rebates and grants, are stimulating the adoption of heat pump systems. For instance, in May 2024, Denmark's Energy Agency introduced new subsidies for residential heat pump installations, offering homeowners grants exceeding USD 2,500 for air to water heat pump units and USD 4,000 for water-to-water heat pumps. Furthermore, rising investments in eco-friendly, low-emission heating and cooling technologies, combined with strict energy efficiency regulations, have boosted the adoption of clean energy solutions, contributing to the industry growth.
 

Europe Reciprocating Heat Pump Compressors Market Analysis

Air source segment is set to reach over USD 6.7 billion by 2032. Increasing demand for space heating, hot water and cooling solutions owing to varying climatic conditions and shifting inclination toward adoption of energy efficient systems will augment the industry landscape. Growing focus on energy efficiency and carbon emission reduction along with introduction of favorable initiatives including beneficial schemes, policies for accelerating the adoption of heat pump systems will increase the product deployment. Additionally, ongoing technological advancements by key manufacturers to introduce improved heat pump systems are augmenting the air source heat pump industry landscape.
 

Ground source heat pump compressors are set to observe significant growth on account of increasing focus on carbon emission reduction and rising adoption in residential and commercial applications for space heating and cooling. Government incentives in various countries supporting the deployment of these units will drive their adoption. Ongoing technological advancements aimed at introducing more efficient heating and cooling systems, combined with a shift away from traditional heating methods to reduce carbon emissions, will enhance the market prospects for this segment.
 

Germany reciprocating heat pump compressors market is set to grow over USD 2.3 billion by 2032. Increasing demand for efficient heating and cooling solutions, have led to the adoption of heat pump compressors further accelerating the industry growth. Supportive government policies aimed at promoting energy-efficient technologies, coupled with rising disposable incomes, are set to augment the  heat pump industry landscape. For instance, in January 2024, as reported by BWP, the German government revised its funding options for heat pump installations. Property owners can now secure a maximum subsidy exceeding USD 23,300 for installing heat pumps, and low-income households stand to benefit from even larger grant amounts.
 

The implementation of energy-efficient HVAC systems has become crucial in residential, commercial, and industrial buildings, to meet heating and cooling needs using low-carbon sources, significantly impacting the business outlook. Furthermore, expansion of building infrastructure has significantly boosted the deployment of heat pumps, further augmenting Germany heat pump industry landscape.
 

Europe Reciprocating Heat Pump Compressors Market Share

Major manufacturers are expanding their market presence through strategic agreements, partnerships, collaborations, and mergers & acquisitions, aiming to gain a competitive edge. GEA Group Aktiengesellschaft, Copeland LP, Danfoss, Panasonic Industry, LG Electronics and Johnson Controls hold the major market share across the Europe reciprocating heat pump compressors industry.
 

Europe Reciprocating Heat Pump Compressors Market Companies

Major players operating across the industry include:

• BITZER
• CAREL INDUSTRIES
• Copeland
• Danfoss
• Dorin
• FRASCOLD
• GEA Group
• Johnson Controls
• LG Electronics
• MAYEKAWA
• Panasonic
• Secop
• SRM Italy
• Tecumseh Products Company LLC
   

Europe Reciprocating Heat Pump Compressors Industry News

• In July 2024, Danfoss unveiled new compressors designed for low-GWP and natural refrigerants including the PSH scroll, VZN inverter scroll, and BOCK, the semi-hermetic reciprocating compressors. The semi-hermetic reciprocating compressor, BOCK HGX56 CO2 T, a 6-cylinder unit, is suitable for large industrial heat pumps. It can achieve water temperatures up to 90°C and provides an efficient alternative to synthetic refrigerants and ammonia. Additionally, the reciprocating compressor reduces costs, simplifies system complexity, and decreases the number of compressors needed for large industrial heat pumps, district heating systems and refrigeration.
   
• In April 2024, Frascold has launched a new range of transcritical CO2 (R744) semi-hermetic reciprocating compressors called the TK HD series. This line includes 34 models with refrigeration capacities from 3.7 to 72kW. The series offers two motor options, ranging from 3 to 50HP. An inverter option is available, increasing the compressors' adaptability for various HVAC&R uses, such as refrigeration, air-conditioning, and high-temperature heat pumps systems up to 100°C. These compressors are engineered for pressures up to 100 bar and provide volumetric displacements between 1.9 and 37.9 m3 per hour at 50 Hz.
   

The Europe reciprocating heat pump compressors market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2021 to 2032 for the following segments:

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Market, By Application

• Air Source
• Ground Source
• Water Source

The above information has been provided for the following countries:

• Austria
• Norway
• Denmark
• Finland
• France
• Germany
• Italy
• Switzerland
• Spain
• Sweden
• UK
• Netherlands