Europe Industrial Heat Pump Market Size By Product (Closed Cycle Mechanical Heat Pump, Open Cycle Mechanical Vapor Compression Heat Pump, Open Cycle Thermocompression Heat Pump, Closed Cycle Absorption Heat Pump), By Application (Chemical, Pulp & Paper, Food & Beverage, District Heating), Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Apr 2021  |  Report ID: GMI5025  |  Authors: Ankit Gupta, Nikhil Paranjape

Report Format: PDF   |   Pages: 170   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Europe industrial heat pump market size was valued at over USD 180 million in 2020 and is set to register more than 6% CAGR between 2021 and 2027. Ongoing regulatory measures pertaining to energy optimization across various industries will significantly raise the product demand. Moreover, the market statistics of these equipment will stimulate on account of rising consumer awareness toward the adoption of clean energy technologies, which in turn will drive the installation of industrial heat pumps.
 

Europe industrial heat pump market

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In the recent past, Europe industrial heat pump industry has witnessed a significant turnaround on account of rising focus toward incorporation of renewable technologies across industrial premises. Soaring efforts to curb the GHG emissions coupled with the formulation of stringent policies toward energy conservation are the paramount factors which will propel the industry growth. Declining prices of heat recovery equipment along with growing awareness toward sustainable technologies will further intensify the market demand for industrial heat pumps over the forecast timeframe.
 

However, ongoing COVID-19 pandemic has severely hit the European economy including other regions of the globe. Since then, the European countries have enacted stern lockdown leading to shutdown of various industrial projects, which has certainly impacted the growth of Europe industrial heat pump market. However, few pharmaceutical companies which includes, AstraZeneca, Pfizer, Bharat Biotech etc. have developed vaccine for the COVID-19 and it is anticipated that the market share of industrial heat pump industry will rebound back to normalcy by second half of FY 2021.
 

The study demonstrates a comprehensive analysis of industry trends across Europe segmented across product and application on a country basis. Furthermore, the market forecasts & estimates are suitably associated with the data specified by authorities including the European Heat Pump Association, International Energy Agency (IEA), European Environmental Agency, Association of European Heating Industry, World Energy Council, International Finance Corporation (IFC), The World Bank, company reports and power magazines.
 

Europe Industrial Heat Pump Market Report Coverage
Report Coverage Details
Base Year:2020Historical Data for:2017 to 2020
Market Size in 2020:180 Million (USD)Forecast Period:2021 to 2027
Forecast Period 2021 to 2027 CAGR:6.3%No. of Pages:170
2027 Value Projection:300 Million (USD) Tables, Charts & Figures:172
Geographies covered (9):UK, Norway, Denmark, Finland, Sweden, Germany, Poland, Spain, Austria
Segments covered:Product, Application
Growth Drivers:
  • Growing concerns toward rising carbon footprint
  • Burgeoning energy demand across industries
Pitfalls & Challenges:
  • Relatively low investment cost for alternative technologies

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Clean operations and wide range of applications are key factors boosting the market demand for closed cycle mechanical heat pumps

Europe Industrial Heat Pump Market

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Closed cycle mechanical heat pumps segment is anticipated to register over 6% CAGR through 2027. Europe industrial heat pump is set to witness substantial rise on account of surging installation of these pumps across wide range of industries including, pharmaceutical, chemical, food & beverage and pulp & paper. These pumps achieve temperature lift using mechanical compression of a working fluid, which will enhance the Europe industrial heat pump market trends. Space heating, process water heating and concentration of effluent are some of the industrial applications of closed cycle mechanical heat pumps. Considerable growth across food packaging sector along with positive outlook toward chemical & pharmaceutical industries will further stimulate the deployment of these pumps.
 

Growing demand for process effluent treatment across chemical industries will enhance the market outlook for industrial heat pumps

Europe Industrial Heat Pump Market

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Chemical industry in 2020, accounted for over 28% of the market share across the Europe industrial heat pump industry. Over the recent past, chemical industries has witnessed significant turmoil on account of rising demand of petrochemicals, polymers and consumer chemicals across the region, which in turn has positively influenced the Europe industrial heat pump market outlook. These heat pumps are also used for distillation of petrochemical byproducts for several processes which includes, separation of chemicals, compression of waste fluids and process water heating. Surging demand of chemicals for extensive range of industries including food, textile, plastic and others will create a market demand for efficient process heating equipment across the chemical industries. This in turn will boost the installation of large-scale heat pumps across the chemical facilities.
 

Rising governmental efforts to adopt sustainable heating technologies will boost the market demand for industrial heat pumps across Poland

Europe Industrial Heat Pump Market

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Rising focus to curb carbon emissions coupled with energy conservation will positively influence the industrial heat pump installations across Poland. Attractive financial returns from steel industry through waste heat recovery process to augment the Europe industrial heat pump market statistics. Soaring demand for large scale heat pumps across industrial sector would be a vital technology to aggregate renewable resources across the nation. In 2020, according to Institute for Energy Economics and Financial Analysis, the main heat sources for Poland by 2050 will be large scale heat pumps, waste heat recovery and non-fossil fuel base CHP plants. This in turn will institute a favorable business scenario for European market forecasts.
 

Development of innovative waste heat recovery systems acting as the key point for leading market players

The eminent market players are aiming toward innovative enhancements in their systems to expand their market share across the region. In addition, growing research & development activities along with strategic mergers and collaborations are few of the imperative strategies elected by the market leaders to achieve an edge in the Europe industrial heat pump industry. Moreover, installation of these units is gaining eminence as the key manufacturers across the industrial sector are merging or acquiring component manufacturers to diminish the impact of raw material cost.
 

The important players profiled in the Europe industrial heat pump market report include Danfoss, Glen Dimplex, Emerson Electric Co, Thermax Limited, Piller Blowers & Compressors GmbH, GEA Group, Araner, and Hitema SRL amongst others.
 

Europe Industrial heat pump market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘Units’ & ‘USD” from 2017 to 2027, for the following segments:

By Product

  • Closed Cycle Mechanical Heat Pump
  • Open Cycle Mechanical Vapor Compression Heat Pump
  • Open Cycle Thermocompression Heat Pump
  • Closed Cycle Absorption Heat Pump

By Application

  • Chemical
  • Pulp & paper
  • Food & beverage
  • District heating

The above information has been provided for the following countries:

  • UK
  • Norway
  • Denmark
  • Finland
  • Sweden
  • Germany
  • Poland
  • Spain
  • Austria

 

Frequently Asked Questions (FAQ) :

The market for industrial heat pumps in Europe was pegged at USD 180 million in 2020 and is expected to witness over 6% CAGR through 2021-2027.
The market for closed cycle mechanical industrial heat pump in Europe will expand at 6% CAGR up to 2027 with increased installation across sectors like chemical, pharmaceutical and food production.
It was estimated that chemical applications held nearly 28% of Europe industrial heat pump market share during 2020 and will grow due to higher demand for petrochemicals and consumer products.
The major companies offering industrial heat pump products in the region include Thermax Limited, Hitema SRL, GEA Group, Emerson Electric Co, Danfoss and some others.

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Premium Report Details

  • Published Date: Apr 2021
  • Pages: 170
  • Tables: 145
  • Charts / Figures: 27
  • Companies covered: 15
  • Countries covered: 9

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