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Europe Variable Speed Heat Pump Market Trends

Report ID: GMI10774
Published Date: Aug 2024
Report Format: PDF

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Europe Variable Speed Heat Pump Market Trends

Europe variable speed heat pump industry is anticipated to grow owing to growing demand for energy-efficient heating and cooling systems along with growing adoption of advanced heat pump systems with variable speed compressors and drives. Diverse climate conditions, significant R&D efforts, supportive incentive schemes, and ongoing introduction of advanced HP units will further boost the product adoption.

For instance, in May 2024, Italy based HVAC manufacturer called Clivet introduced heat pump with propane (R290) refrigerant between capacity ratings of 35 kW to 73 kW for residential & commercial installations. The air-cooled reversible R290 heat pump series called Thunder are equipped with inverter scroll compressors to deliver variable speed operations and can be stacked up to 16 units to serve larger heating & cooling requirements.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size for variable speed heat pump in Europe reached USD 12.6 billion in 2023 and is set to register 19.2% CAGR between 2024 to 2032, owing to growing demand for energy-efficient heating and cooling systems and the increasing emphasis on limiting emissions.

Europe variable speed heat pump industry from the residential segment will record USD 44 billion by 2032, due to the accelerating investments for housing infrastructure development and rising living standards.

Germany market size to reach USD 21 billion by 2032, owing to rapid technological advancements and increasing awareness of the long-term cost benefits of heat pumps.

AERMEC S.P.A., Advantix S.p.A., Carrier, Clivet S.p.A., Daikin, FUJITSU GENERAL, GE Appliances, Guangzhou SPRSUN New Energy Technology Development Co., Ltd., Johnson Controls, and Lennox International Inc, among others.