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Germany Heat Pump Market Share

Report ID: GMI2892
Published Date: Nov 2022
Report Format: PDF

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Germany Heat Pump Market Share

Top companies operating in the heat pump market in Germany are:

Bosch Thermotechnology Corp
Toshiba Air Conditioning Systems & Heat Pumps
Vaillant Group
STIEBEL ELTRON GmbH & Co. KG
Carrier
Mitsubishi Electric Corporation
Danfoss
OCHSNER
Johnson Controls
Weishaupt Group
Modine Manufacturing Company

These leaders are targeting regional footprint expansions through strategies such as manufacturing investments.

For instance, in August 2022, STIEBEL ELTRON GmbH & Co. KG announced an investment of over USD 594 million for the expansion of its heat pump manufacturing activities to produce more than 80,000 units by 2022 end. This investment strategy was intended to enhance the firm’s market presence and boost its production capabilities across the region.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of heat pump in Germany crossed USD 2 billion in 2023 and is likely to exhibit around 27.6% CAGR through 2032, due to the introduction of stringent norms to reduce emission levels.

The German ground source heat pump segment is slated to register over 6% growth rate from 2022 to 2030, given its environment friendliness, low heat loss, and humidity control, among other attributes.

The residential heat pump industry is projected to depict more than 9% gains through 2030, owing to the rising private and public investment to address the space heating needs in multi-family homes.

Bosch Thermotechnology Corp., Toshiba Air Conditioning Systems & Heat Pumps, STIEBEL ELTRON GmbH & Co. KG, Danfoss, and Mitsubishi Electric Corporation are some of the major players operating in the industry.