The $ 300 million European industrial heat pump market by 2027, says Global Market Insights Inc.

The European industrial heat pump industry is set to record more than 6% CAGR between 2021 and 2027, due to high energy demand in all industries.

Selbyville, Delaware, April 8, 2021 (GLOBE NEWSWIRE) –

The European market for industrial heat pumps it is expected to exceed $ 300 million by 2027, according to the latest Global Market Insights Inc. study. Ongoing regulatory measures to optimize energy in industrial premises to reduce operating costs that will significantly increase the demand for industrial heat pumps.

The closed-cycle absorption heat pump segment should witness significant growth over the forecast period, thanks to its ability to achieve higher temperatures by using a two-component working fluid. Adaptability for combined cooling and heating applications, constant energy performance even with higher temperature elevators are some of the prominent features offered by these units that stimulate its adoption compared to other replacements. These units are mainly used in district heating due to their energy efficient performance, which in turn drives European industrial trends in the heat pump industry from closed cycle absorption heat pumps.

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Some of the main findings of the European Industrial Heat Pump Market Report include:

  • Government efforts to introduce energy-efficient technologies into the industrial sector will spur product penetration.

  • Strict carbon emission standards across Europe will expand the business prospects of an industrial heat pump.

  • Increasing investment in the development of industrial infrastructure in Europe will have a positive impact on product preference.

  • An increasing priority for the application of district heating in the region will favor the adoption of an industrial heat pump.

  • Key players operating in the European industrial heat pump market are Danfoss, Emerson Electric Co., Thermax Limited and Viessmann.

View key industry insights spread over 170 pages with 145 market data tables and 27 images and charts from the report, ”Market analysis of European industrial heat pumps by product (mechanical closed cycle heat pump, open cycle mechanical heat compression heat pump, open cycle heat compression heat pump, closed cycle heat pump), application (chemicals, pulp and paper, food and beverage, district heating) ), Industrial Analysis Report, Country Outlook, Implementation Potential, Competitive Market Share and Forecast, 2021 – 2027”Detailed with content:

Growing space heating demands in large commercial and residential buildings, along with government regulations relating to the growing carbon footprint, have restored demand for district-level district heating heat pumps in the region. Climate change in the region will increase the demand for efficient space heating systems, which will expand the business prospects for these heat pumps in the foreseeable future. Increasing demands for clean systems with lower carbon footprint and high energy efficiency will further drive the European market for industrial heat pumps from the application of district heating.

Industrial heat pumps are gaining widespread recognition throughout Germany for the presence of a large number of energy-intensive industries, including chemical, pulp and paper, food processing and equipment manufacturing. For example, according to Eurostat, in 2019, Germany accounted for almost 30% of industrial production in the EU-27. Furthermore, the increasing adoption of energy efficient technologies to meet the requirements of district heating will further increase the demand for these units, and therefore will increase the market statistics of European industrial heat pumps.

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Heat pump market by product (air source, ground source, water source), application (residential (for one family, several families), commercial {educational institutions, health, retail, logistics and transport, offices, catering}, industry), industry analysis report , regional Outlook, application potential, price trend, share and forecast of the competitive market, 2020 – 2026

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Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and consulting services, offering syndicated and customized research reports, in addition to growth consulting services. Our business intelligence and industry research reports offer clients insightful insights and market data that are effective, specially designed and presented to help make strategic decisions. These comprehensive reports are designed through a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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