Europe Air Source Heat Pump Compressors Market Size & Share 2024 - 2032
Market Size by Type (Reciprocating, Scroll, Rotary, Screw, Centrifugal) & Forecast.
Report ID: GMI10775
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Published Date: August 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Manish Dhiman
Europe Air Source Heat Pump Compressors Market Size
Europe Air Source Heat Pump Compressors Market size was valued at USD 4.3 billion in 2023 and is set to grow at CAGR of 19.5% between 2024 and 2032. Growing demand for energy efficient heating, cooling and hot water solutions across residential and commercial establishments along with increasing adoption of energy-efficient HVAC systems have positively influenced the industry growth.
Europe Air Source Heat Pump Compressors Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Favorable schemes including financial rebates, tax benefits and subsidies for heat pump adoption along with focus to curb emissions will accelerate the product deployment. For instance, in May 2023, The Danish Energy Agency (Energistyrelsen) announced to offer subsidies for residential heat pump installations. Citizens can receive Grants of USD 2,500 (DKK 17,000) for energy-saving air-to-water heat pumps, regardless of home size.
Europe Air Source Heat Pump Compressors Market Trends
Europe air source heat pump compressors industry is anticipated to grow on account of the growing inclination toward limiting emissions and increasing adoption of energy efficient heating and cooling systems. Ongoing technological advancements coupled with R&D initiatives in heat pump units with components featuring advance operational abilities will augment the business landscape. For instance, in January 2024, Johnson Controls introduced two air-source heat pumps, YMAE and YCPB, to its YORK portfolio.
The YMAE features an inverter scroll compressor, while the YCPB is optimized for low ambient heating with vapour and liquid injection large scroll compressors. Moreover, implementation of stringent standards and mandates toward building energy efficiency along with shifting focus toward replacement of prevailing heating systems will complement the industry landscape.
Europe Air Source Heat Pump Compressors Market Analysis
Scroll segment is anticipated to grow over USD 11 billion by 2032 and is set to observe significant momentum on account of growing demand for energy-efficient air source heat pump systems heating & cooling solutions driven by increasing adoption of these units across residential and commercial establishments. Favorable government regulations, coupled with introduction of beneficial grants and incentives encouraging the utilization of energy-efficient technologies will accelerate the scroll heat pump compressors adoption.
Reciprocating heat pump compressors across air source heat pump systems is anticipated to witness substantial growth owing to surging demand for heating and cooling systems, together with growing adoption of technologically advanced heat pump systems. Ongoing integration of smart technologies across heat pump units, which not only optimize efficiency and enhance control but also provide versatile operations, easy installation process, and cost-effectiveness, thereby further propelling the product deployment.
Germany air source heat pump compressors market is expected to cross USD 7 billion by 2032. Variations in climatic conditions across various geographies, along with increasing demand for efficient space heating & cooling solutions has positively influenced the industry landscape. Government support, including grants, subsidies, and tax benefits, has played a pivotal role in accelerating their adoption.
For instance, from January 2024, the government introduced revised funding options through the German Heat Pump Association (BWP). Property owners can now receive up to EUR 21,000 in subsidies for installing heat pumps, with increased grants available for low-income families. Moreover, rapid urbanization and increased residential and commercial building penetration are driving heat pump deployment, further shaping the business dynamics.
Europe Air Source Heat Pump Compressors Market Share
Key companies operating in the Europe air source heat pump compressors industry are consolidating their market presence through strategic collaborations, partnerships, and mergers & acquisitions, as they actively seek to enhance their competitive position. Danfoss, Carrier, DAIKIN, BITZER, LG Electronics and CAREL collectively holds the significant market share.
Europe Air Source Heat Pump Compressors Market Companies
Key industry players operating across industry include:
Europe Air Source Heat Pump Compressors Industry News
The Europe air source heat pump compressors market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2021 to 2032 for the following segments:
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Market, By Type
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Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
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Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
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Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
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✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
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Our triple-layer validation process ensures maximum data reliability:
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✓ Expert Validation
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