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Industrial Heat Pump Market Size

  • Report ID: GMI5253
  • Published Date: May 2023
  • Report Format: PDF
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Industrial Heat Pump Market Size

Industrial Heat Pump Market size surpassed USD 1.4 billion in 2023 and is projected to expand at 5.5% CAGR from 2024 to 2032.

 

Industrial Heat Pump Market
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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.

Industrial Heat Pump Market Report Attributes
Report Attribute Details
Base Year:2023
Industrial Heat Pump Market Size in 2023:USD 1.4 Billion
Forecast Period:2024 to 2032
Forecast Period 2024 to 2032 CAGR:5.5%
2032 Value Projection:USD 2.2 Billion
Historical Data for:2019 to 2023
No. of Pages:740
Tables, Charts & Figures:1,100
Segments covered:Product, Capacity, Temperature, Application, and Region
Growth Drivers:
  • Increasing demand for energy-efficient systems
  • Positive outlook towards reduction of carbon footprint
  • Surging energy demand across industrial operations
  • Rapid urbanization and commercialization
Pitfalls & Challenges:
  • High upfront cost coupled with varying consumer perspectives
Learn more about the key segments shaping this market
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Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of industrial heat pump market exceeded USD 1.4 billion in 2023 and is poised to expand at 5.5% CAGR from 2024 to 2032, fueled by stringent government regulations to reduce the carbon footprint across industrial operations.

The industrial heat pump industry in Europe is estimated to generate more than USD 760 million in revenue by 2032 on account of the positive outlook toward the deployment of renewable energy systems.

The closed cycle mechanical heat pump segment is set to gain notable momentum by 2032, owing to their ability to provide process water heating and effluent concentration across multiple industrial sectors.

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, are some of the major companies in the global industrial heat pump industry.

Industrial Heat Pump Market Scope

  • Industrial Heat Pump Market Size
  • Industrial Heat Pump Market Analysis
  • Industrial Heat Pump Market Share

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    • Base Year: 2023
    • Companies covered: 15
    • Tables & Figures: 1100
    • Countries covered: 20
    • Pages: 740
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