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Europe Air to Water Heat Pump Market Trends

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

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Europe Air to Water Heat Pump Market Trends

Growing inclination to reduce the dependency on fossil fuels in the European region has significantly increased the demand for clean and sustainable heat pump systems. The Europe air to water heat pump market will witness a significant upsurge owing to the government legislation mandating the replacement of prevailing heating systems from sustainable heating solutions to limit the GHG emissions. For instance, In June 2022, Daikin Europe launched a new range of its Daikin Altherma 3 M heat pump systems within small capacity range with 4 kW, 6 kW, and 8 kW options. This new line of R-32 monobloc air to water heat pump systems are predominantly focused on smaller homes with optimized functional design and enhanced performance.

Ongoing advancements for a decarbonized economy supported by the legislative energy policies & incentives constitute the key shaping factor of the industry expansion. The surge in the demand for high-level flexibility and comfort along with growing refurbishment activities will further augment the industry development.

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.