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Europe Air to Water Heat Pump Market Size

Report ID: GMI4808
Published Date: May 2023
Report Format: PDF

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Europe Air to Water Heat Pump Market Size

Europe Air to Water Heat Pump Market was valued at USD 12.2 billion in 2023 and is projected to observe 19.1% CAGR from 2024 to 2032 due to the growing demand for efficient space heating technologies coupled with the accelerating development across buildings infrastructure.

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The increasing requirement for energy efficient units in residential and commercial establishments along with continuous shift from existing heating systems towards low carbon systems will augment the industry growth. Furthermore, significant variation in the climatic conditions in several countries attributed by the elevating pollution and global warming levels along with increasing demand for enhanced technological heat pump systems have led to accelerate the product deployment in the region.

Europe Air to Water Heat Pump Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Air to Water Heat Pump Market Size in 2023:	USD 12.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	19.1%
2032 Value Projection:	USD 62.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	415
Tables, Charts & Figures:	602
Segments covered:	Application and Country
Growth Drivers:	Growing space heating and hot water demand across several climatic geographies Siting inclination toward adoption of energy efficient and sustainable heat pump systems Favorable government support for the clean building infrastructure
Pitfalls & Challenges:	High installation cost

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An Air to Water Heat Pump (ATW) or hydronic heat pump is a kind of air source heat pump technology, which works by extracting warmth from the air outside and using it for heating purposes. The ability of these systems to deliver various operational advantages consisting of cost-effectiveness, reliable operations, and high efficiency, is set to further propel the Europe air to water heat pump market landscape.

Increasing measures to support the shift towards energy-efficient alternatives in various verticals and combat climate change, the respective administrations have enacted a wide of regulations. Furthermore, ongoing technological innovations to develop advanced units with enhanced installation flexibility & operational advantages will further influencing the industry dynamics.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of air to water heat pump in Europe crossed a valuation of USD 12.2 billion in 2023 and will expand at 19.1% CAGR during 2024 to 2032 backed by the growing demand for efficient space heating technologies and the flourishing development across buildings infrastructure.

The industry size will witness high demand in commercial applications due to changing climatic conditions and the introduction of stern building energy performance standards by regulatory authorities.

Germany air to water heat pump industry reached USD 900 million in 2022 and will observe substantial growth through 2032 owing to the developing commercial & residential infrastructure along with robust economic conditions across the nation.

Carrier, Daikin, NIBE Industrier AB, Trane Technologies International Limited, Glen Dimplex, LG Electronics, A.O. Smith, Vaillant Group, TOSHIBA, FUJITSU GENERAL, WOLF, Systemair AB, SAMSUNG and Aermec S.p.A.