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Europe Reciprocating Heat Pump Compressors Market Trends

Report ID: GMI11469
Published Date: Sep 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Manish Verma

Frequently Asked Questions (FAQ) :

Europe reciprocating heat pump compressors market size was valued at USD 1.5 billion in 2023 and is estimated to grow at 17.6% CAGR from 2024 to 2032 owing to the rising demand for heating and cooling system.

The air source segment in the Europe reciprocating heat pump compressors market is set to grow at over USD 6.7 billion by 2032 due to the increasing demand for space heating.

Germany reciprocating heat pump compressors market is set to exceed USD 2.3 billion by 2032 backed by the supportive government policies aimed at promoting energy-efficient technologies.

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