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Ground Source Heat Pump Compressors Market Trends

Report ID: GMI11200
Published Date: Sep 2024
Report Format: PDF

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Ground Source Heat Pump Compressors Market Trends

Ground source heat pump compressors industry is set to witness significant growth owing to rising adoption of energy-efficient heating and cooling systems coupled with increasing inclination toward reducing carbon. Continuous technological advancements and R&D efforts to launch heat pump units with enhanced operational capabilities will further bolster the industry's landscape. Moreover, stringent standards and mandates for energy efficiency in buildings, coupled with paradigm shift towards replacing existing heating systems, will positively influence the industry's landscape.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size of ground source heat pump compressors was worth USD 1 billion in 2023 and is expected to register 4.6% CAGR from 2024 to 2032, due to the increasing adoption of energy-efficient HVAC systems and growing inclination toward enhancing overall energy efficiency worldwide.

Ground source heat pump compressors industry from the scroll segment is predicted to hit USD 620 million by 2032, due to rising energy costs, increased environmental awareness, government incentives, and technological advancements across ground source heat pumps.

Europe ground source heat pump compressors industry is expected to reach over USD 470 million by 2032, due to variations in climatic conditions across various geographies, along with increasing demand for efficient space heating & cooling solutions in the region.

CAREL INDUSTRIES S.p.A., Copeland LP, Danfoss, DAIKIN APPLIED, LG Electronics, Midea Group Co., Ltd, Mitsubishi Electric Corporation, Panasonic Industry, Tecumseh Products Company LLC, and Trane, are some of the major ground source heat pump compressors companies worldwide.