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Industrial Heat Pump Market Trends

Report ID: GMI5253
Published Date: Jun 2024
Report Format: PDF

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Industrial Heat Pump Market Trends

Industrial heat pump industry is projected to observe a substantial increment on account of the strong emphasis on energy efficiency & sustainability, increasing government regulations and incentives, and advancements in technology, among other parameters. Various administrative bodies have set ambitious emission reduction targets encouraging industries to adopt energy-efficient technologies coupled with the provision of subsidies, tax incentives, and research and development support will shape the heat pump industry dynamics.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of industrial heat pump was reached USD 1.3 billion in 2023 and is projected to experience 5.5% CAGR from 2024 to 2032, driven by the encouraging regulatory framework by respective authorities.

Air source industrial heat pump market is projected to cross USD 850 million by 2032, on account of the increasing emphasis on energy efficiency and reducing carbon footprints.

Europe industrial heat pump market is projected to surpass USD 750 million by 2032 backed by the rapidly increasing demand for effective space heating technologies.

Atlas Copco AB, Carrier, Dalrada Climate Technology, Daikin Applied Europe S.p.A., Emerson Electric Co., GEA Group Aktiengesellschaft, Johnson Controls, MAN Energy Solutions, Oilon Group Oy, OCHSNER, and Piller Blowers & Compressors GmbH among others.