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The heat pump industry has observed significant expansion over the years on account of paradigm shift towards clean energy technologies coupled with transitioning consumer preferences. Heat pump systems are an effective alternative to conventional heating & cooling systems having low efficiency ratings. These products operate by integrating various components & parts including an outdoor unit, indoor unit, refrigerants, fan coils, valves, and compressors, among others to redistribute the heat between a source and a sink. The heat pump systems have been categorized based on the source primarily segregating intro air source, ground source, and water source systems. These units are equipped with a reversing valve enabling them to alter the refrigerant flow to effectively suffice the heating & cooling requirements.
The heat pump systems offer a wide range of favorable operational characteristics including low operation & maintenance cost, lower carbon footprint, space & water heating capabilities, longer operational life, and enhanced safety, among others, accelerating their deployment potential. In addition, the industry participants are emphasizing on introducing technological advancements with innovative products & components featuring remote monitoring & control attributes to fortify their geographical footprint. Moreover, different public and private players have launched collaboration initiatives to boost the research & development programs and accelerate the adoption of heat pump systems across different applications.
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