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Europe Reversible Heat Pump Market Size

Report ID: GMI10973
Published Date: Aug 2024
Report Format: PDF

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Europe Reversible Heat Pump Market Size

Europe Reversible Heat Pump Market was valued at USD 5.9 billion in 2023 and is set to grow at CAGR of 19.1% from 2024 to 2032. Growing adoption of advanced heating and cooling technologies coupled with increasing disposable incomes and purchasing power of consumers have accelerated the adoption of efficient heat pump technologies.

Europe Reversible Heat Pump Market

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Ongoing R&D efforts by manufacturers along with favorable policies to boost heat pump adoption will complement the industry landscape. For instance, the European Heat Pump Association has crafted a manifesto outlining pivotal policy priorities for 2024 – 2029, aiming to harness the full potential of heat pumps. The immediate action should be the swift release of the EU Heat Pump Action Plan.

Europe Reversible Heat Pump Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Reversible Heat Pump Market Size in 2023:	USD 5.9 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	19.1%
2024 – 2032 Value Projection:	USD 29.4 Billion
Historical Data for:	2021-2023
No. of Pages:	75
Tables, Charts & Figures:	12
Segments covered:	Product, Application and Country
Growth Drivers:	Rising demand for heating & hot water across residential establishments Favorable regulatory landscape and supportive financial policies toward adoption of energy efficient systems
Pitfalls & Challenges:	Availability of conventional technologies along with significant initial cost

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size of Europe reversible heat pump was worth over USD 5.9 billion in 2023 and will expand at a 19.1% CAGR between 2024 and 2032, propelled by increasing demand for energy-efficient and sustainable heating and cooling solutions.

Europe air source reversible heat pump market will reach USD 28.5 billion by 2032, fueled by its cost-effectiveness and ease of installation.

Germany reversible heat pump industry will cross over USD 9 billion by 2032, owing to stringent regulations on carbon emissions and robust incentives for renewable energy solutions.

Key players operating in the Europe reversible heat pump industry are Carrier, Clivet S.p.A., Daikin Applied Europe S.p.A., Glen Dimplex, Hitema International, HOVAL, Johnson Controls, Keyter Technologies S.L., Klima-Therm, Panasonic Marketing Europe GmbH, Rhoss S.p.a., Swegon Group AB, Systemair AB, TermoPlus, THERMO-TEC Klimageräte GmbH, Trane Technologies International Limited, and Vaillant Group International GmbH, among others.