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Europe Residential Heat Pump Market Size
Europe Residential Heat Pump Market size was estimated at USD 11.8 billion in 2023 and is set to witness CAGR of 19.3% between 2024 and 2032. Growing demand for energy-efficient heating and cooling solutions along with favorable regulations promoting the adoption of low carbon technologies is set to drive the industry growth.
Several governments authorities are offering financial incentives, subsidies, to encourage the installation of energy-efficient systems in households. For instance, the German government introduced revised funding opportunities effective from January 1st, 2024. Under these updates, property owners are eligible to receive subsidies of up to USD 22,500 upon installing a heat pump and this funding is accessible to all.
Europe Residential Heat Pump Market Report Attributes
| Report Attribute |
Details |
| Base Year: | 2023 |
|---|
| Europe Residential Heat Pump Market Size in 2023: | USD 11.8 Billion |
|---|
| Forecast Period: | 2024 - 2032 |
|---|
| Forecast Period 2024 - 2032 CAGR: | 19.3% |
|---|
| 2032 Value Projection: | USD 59.3 Billion |
|---|
| Historical Data for: | 2019 to 2023 |
|---|
| No. of Pages: | 185 |
|---|
| Tables, Charts & Figures: | 211 |
| Segments covered: | Product, Application, and Country |
|---|
| Growth Drivers: | - Flourishing investments across residential infrastructure
- Focus on adoption of clean energy technologies
- Favorable regulatory landscape with supportive financial aids
|
|---|
| Pitfalls & Challenges: | - Growing inclination toward available alternatives
|
|---|
