Europe Air To Water Heat Pump Market Size By Application (Residential {Single-family Houses, Multi-family Houses}, {Domestic Hot Water Heat Pump, Room Heat Pump}, Commercial {Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality, Others}, Industrial), Industry Analysis Report, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Sep 2020  |  Report ID: GMI4808  |  Authors: Ankit Gupta, Nikhil Paranjape

Report Format: PDF   |   Pages: 320   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Europe Air to Water Heat Pump Market size exceeded USD 2.5 billion in 2019 and annual installation is anticipated to exceed 690 thousand units by 2026. Increasing demand for efficient space heating technologies on account of growing building sector across Europe will boost the market statistics in the forthcoming years.
 

Europe Air to Water Heat Pump Market

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Growing consumption of fossil fuels over the years has increased the carbon footprint across Europe which has created a demand for clean and sustainable heat pump systems. The Europe air to water heat pump industry will grow on account of governmental regulations to replace traditional heating systems with sustainable heating solutions to curb the growth of GHG emissions across the region.
 

However, the ongoing global COVID-19 pandemic has negatively impacted the economic & industry growth across the region. The respective governments have implemented lockdown protocols which resulted in temporary or permanent shutdown of business activities. The infrastructural development projects and non-utility projects have been put on hold owing to lower availability of human resources and disrupted supply chain.
 

Moreover, diminishing availability of raw materials and labor will further hinder the Europe air to water heat pump market growth. However, the market outlook is anticipated to witness an upward trend by fourth quarter of the FY2020 as the lockdown protocol is lifted and the businesses are operational.
 

The study on Europe air to water heat pump industry features a detailed analysis of market trends across the region segmented on the basis of country and application. Moreover, the market forecasts & estimates are in line with the data represented by authorities including the International Energy Agency (IEA), Energy Information Administration (EIA), ASHRAE, government regulatory bodies, and company press releases.
 

Europe Air To Water Heat Pump Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 2.5 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 6.6% 2026 Value Projection: 3.0 Billion (USD)
Pages: 320 Tables, Charts & Figures: 474
Geographies covered (19): Austria, Norway, Denmark, Finland, France, Germany, Italy, Switzerland, Spain, Sweden, UK, Netherlands, Czech Republic, Hungary, Poland, Romania, Slovakia, Slovenia, Greece
Segments covered: Application
Companies covered (24): NIBE Industrier AB, Carrier Corporation, Daikin, Viessmann, LG Electronics, A.O. Smith Corporation, Vaillant Group, Mitsubishi Electric Corporation, Toshiba Corporation, Danfoss, Panasonic Corporation, Swegon Group AB, FUJITSU GENERAL, Glen Dimplex, Systemair AB, Stiebel Eltron GmbH & Co, Trane, Lennox International, Effiziento Haustechnik GmbH, Ecotherm Austria GmbH, Aermec S.p.A, Johnson Controls, Inc., Samsung HVAC LLC, Toshiba Carrier Corporation
Growth Drivers:
  • Increasing demand for energy-efficient systems
  • Positive outlook toward renewable energy sector
  • Surging demand for space heating
Pitfalls & Challenges:
  • High installation cost

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Growing number of residential establishments coupled with increasing disposable income will propel the product deployment

Europe Air to Water Heat Pump Market By Residential

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Europe air to water heat pump market trends across residential application will witness substantial growth on account of the rising urban population coupled with improved standards of living. Moreover, several regulatory norms and schemes pertaining to energy efficiency will drive the demand of efficient & sustainable heating systems, thus complementing the market statistics of air to water heat pumps.
 

For instance, according to Federal Ministry of Economic Affairs and Energy, Government of Germany is investing 17 Billion Euros till the end of 2020 to provide efficient heating systems to the households and buildings. The growing investments toward energy efficiency with further augment the growth of Europe air to water heat pump industry.
 

The single family households accounted for a market share of over 58% in the overall residential heat pump installations in 2019. Growing concerns toward deteriorating climatic conditions over the past decades have resulted in implementation of reforms to replace the conventional fossil fuel heating units with energy efficient systems. Moreover, reduction in GHG emission levels from residential sector on account of sustainable air to water heat pumps deployment will strengthen the market trends. The air to water heat pump can also be utilized as water heater or a space heating equipment, with minimal emission and lesser power consumption, which will further enhance the market demand of the product.
 

Favorable regulatory incentives for air to water heat pumps will boost the industry growth across Germany

Europe Air to Water Heat Pump Market By Country

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Germany air to water heat pump market will witness over 7% CAGR through 2026. Subsidies, financial aids and information campaigns are few of the incentives offered by the government to encourage the deployment of air to water heat pump across the country. In addition, the government initiatives to promote green buildings and reduce CO2 emissions from households and commercial establishments have reinstated the demand for air to water heat pumps. Developing commercial & industrial infrastructure coupled with robust economic conditions in the country will  further enhance the market outlook.
 

Product development and mergers are among the prominent strategies followed by the key participants to increase their market share

The leading market players operating in the industry are focused on development or modification of their existing products to offer new features to the end users. Furthermore, mergers and strategic collaborations are few of the eminent strategies adopted by the market players to gain a competitive edge in the Europe air to water heat pump market. In addition, the companies are emphasizing on achieving economies of scale by forward & backward integration across the air to water heat pump supply chain.
 

The prominent players profiled in the Europe air to water heat pump market report includes NIBE Industrier AB, Daikin, Mitsubishi Electric, Danfoss, Panasonic Corporation, Swegon Group AB, Systemair AB amongst others.
 

Europe air to water heat pump market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2015 to 2026, for the following segments:
 

By Application

  • Residential
    • Single family houses
    • Multi-family houses
    • Product
      • Domestic hot water heat pump
      • Room heat pump
  • Commercial
    • Education
    • Healthcare
    • Retail
    • Logistics & transportation
    • Offices
    • Hospitality
    • Others
  • Industrial

The above information has been provided for the following countries.

  • Europe
    • Austria
    • Norway
    • Denmark
    • Finland
    • France
    • Germany
    • Italy
    • Switzerland
    • Spain
    • Sweden
    • UK
    • Netherlands
    • Czech Republic
    • Hungary
    • Poland
    • Romania
    • Slovakia
    • Slovenia
    • Greece
       

Frequently Asked Questions (FAQ) :

Europe Air to Water Heat Pump Market size was worth USD 2.5 billion in 2019. Annual installation may exceed 690 thousand units by 2026, driven by rising demand for efficient space heating technologies.
The ongoing COVID-19 pandemic has had a negative impact on Europe air to water heat pump industry size driven by temporary shutdown on business operations. However, the market outlook may improve in Q4 2020 with the lifting of lockdown protocols.
The single-family households’ sub-segment, in 2019, held 58% of residential heat pump installations. GHG emission reductions from residential sector & rising usage of energy efficient systems will drive Europe air to water heat pump market share from this segment.
Germany air to water heat pump market may depict 7% CAGR through 2026, owing to rising number of information campaigns, subsidies, and financial aids offered by the government.

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Premium Report Details

  • Published Date: Sep 2020
  • Pages: 320
  • Tables: 437
  • Charts / Figures: 37
  • Companies covered: 24
  • Countries covered: 19

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