Industrial Heat Pump Market Size By Product, Capacity, Temperature, Application (Industrial {Paper, Food & Beverages, Chemical, Iron & Steel, Machinery, Non-metallic Minerals}, District Heating) & Forecast, 2023 - 2032

Industrial Heat Pump Industry Analysis

Industrial Heat Pump Market size surpassed USD 1.3 billion in 2022 and is projected to expand at 5.4% CAGR from 2023 to 2032.
 

To get more details on this report: Request Free Sample PDF
 

Growing measures to reduce the carbon footprint across industrial operations coupled with the increasing use of the generated waste heat from different industrial processes will auger the industry outlook. Moreover, the growing adoption of advanced solutions including IoT & automation has unveiled new opportunities to optimally monitor & control of the industrial heating and cooling processes positively catering to the business growth.
 

COVID-19 Impact

The COVID-19 pandemic has significantly impacted various verticals including the industrial heat pump market. Pandemic induced supply chain disruptions affecting the availability of raw materials, components, and finished products along with scaled back industrial operations on account of stern lockdowns protocols and reduced consumer demand have altered the product deployment potential. However, the growing need for sustainable and energy resilient systems along with rising investments to support the deployment of clean energy systems will offset the prevailing challenges by 2032.
 

Industrial Heat Pump Product Segmentation

To get more details on this report: Request Free Sample PDF
 

Closed-cycle mechanical heat pump systems are projected to observe substantial growth on account of their ability to provide process water heating and effluent concentration across a wide range of industry verticals. In addition, growing investments across various application sectors including pulp & paper, chemical, textile, pharmaceuticals, and food & beverage, will further favor the industry landscape.
 

Closed cycle absorption industrial heat pump market is anticipated to witness a growth rate of about 7% till 2032 owing to their ability to effectively transfer heat from a lower temperature source to a higher temperature destination. In addition, these systems are designed to use low-grade waste heat from various industrial processes as the heat source significantly reducing the overall energy consumption of the establishment.
 

Industrial Heat Pump Capacity Segmentation

To get more details on this report: Request Free Sample PDF
 

The industry size from 500 kW to 2 MW segment crossed a valuation of USD 285 million in 2022 and is set to observe a substantial increase on account of increasing demand for large-scale central heating applications. In addition, the medium capacity industrial heat pump systems are widely integrated across a various industry verticals including iron & steel, paper, chemical, food & beverage, machinery, and equipment adding to their deployment potential over the forecast period.
 

The less than 500 kW industrial heat pump market is expected to observe a significant expansion on account of their easy scalability across various manufacturing facilities together with ability to serve space heating efficiently. Moreover, growing concerns to reduce greenhouse gas emissions from industrial & heating sectors coupled with growing investment across various scale operations across various industries including equipment manufacturing, cement, glass, pulp & paper, and chemical, among others.
 

Industrial Heat Pump Temperature Segmentation

Growing investments to develop food & beverage industry infrastructure and other production & processing facilities will positively cater to the outlook for industrial heat pumps with a temperature reading of up to 100 °C. Moreover, new initiatives by key industry participants to boost the operational capabilities of 80°C to 100°C systems will further add to the industry landscape.
 

Industrial Heat Pump Regional Analysis

Europe industrial heat pump market is estimated to amass USD 760 million by 2032 led by the encouraging outlook towards deployment of renewable energy systems, rapidly increasing requirement for effective space heating, and positive initiatives towards reduction of overall carbon footprint. In addition, various government initiatives and investments across the region are aimed at promoting the use of sustainable heating technologies and the ongoing industrialization and the upgrading of aging industrial infrastructure, are among the key factors propelling the regional industry expansion by 2032.
 

Industrial Heat Pump Industry Leaders

Continuous initiatives to boost the manufacturing capabilities, introduction of new & advanced products, and focus towards initiating new strategic ventures including mergers, acquisitions, and partnerships are among the key factors shaping the industrial heat pump industry dynamics. The key players working across the industry includes GEA Group Aktiengesellschaft, MAN Energy Solutions, Siemens Energy, Johnson Controls, Atlas Copco AB, Carrier, Daikin Applied Europe S.p.A., Trane Technologies International Limited, OCHSNER, Piller Blowers & Compressors GmbH, Qvantum Energi AB, WATERKOTTE, Emerson Electric Co., Swegon Ltd, and Oilon Group Oy.
 

Industrial Heat Pump Industry News

• In February 2023, MAN Energy Solutions and Fonterra came into a strategic partnership to design and initiate the trial of an industrial heat pump to reduce the carbon emissions in the dairy production by using eco-friendly heat pump technology to generate steam. This project may result in annually reducing 60,000 metric tons of CO₂ for the co-operative, equivalent of taking off 25,000 cars from the roads of New Zealand. This partnership will enable the company to introduce advanced technological solutions across the industry.
   
• In December 2022, Atlas Copco initiated a cooperative agreement with STRABAG Umwelttechnik GmbH, a Germany based company, for working together in the area of high performance and industrial heat pumps. This agreement covers heat pumps over 5 MW in thermal power that will be utilized for industrial heat & steam supply along with heat generation supplying district heating. This agreement expanded the company’s market presence across the Europe industrial heat pump industry.
   

This industrial heat pump market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2019 to 2032 for the following segments:

Click here to Buy Section of this Report

Market, By Product

• Air Source
• Ground Source
• Water Source
• Closed Cycle Mechanical Heat Pump
• Open Cycle Mechanical Vapor Compression Heat Pump
• Open Cycle Mechanical Thermocompression Heat Pump
• Closed Cycle absorption Heat Pump

Market, By Capacity

• < 500 kW
• 500 kW to 2 MW
• 2 MW - 5 MW
• > 5 MW

Market, By Temperature

• 80 – 100 °C
• 100 – 150 °C
• 150 – 200 °C
• > 200 °C

Market, By Application

• Industrial
  • Paper
  • Food & Beverages
  • Chemical
  • Iron & Steel
  • Machinery
  • Non-Metallic minerals
  • Other industries
• District heating

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Norway
  • Denmark
  • Finland
  • Sweden
  • Germany
  • Spain
  • Austria
  • Poland
• Asia Pacific
  • China
  • Japan
  • Australia
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • Turkey
  • South Africa
• Latin America
  • Brazil
  • Mexico