Los Angeles, CA -- (SBWire) -- 03/27/2019 --The device used to pull heat from a lower temperature zone and deliver it to a higher temperature zone is known as a heat pump. These heat pumps use refrigerant in closed or open cycle, which acts as an intermediate medium of heat exchange between source and destination. Heat pumps are of various types such as working on the basis of heat source, air source, water source, ground source, and hybrid.
Growth of the construction industry along with increasing implementation of stringent new building regulations by governments worldwide, especially in China, Japan, U.S., South Korea, and Europe are expected to be the key factors driving demand for heat pumps for residential applications. In countries such as Japan, Australia, U.S., and countries of Europe, governments are providing subsidies on purchase of heat pumps in order to reduce their carbon footprint and increase use of renewable sources of energy for heating and cooling purposes. Also, certain countries like Japan and China have their own renewable energy policies for heating purposes, which promote the use of heat pumps over conventional heating devices.
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Lack of consumer awareness along with higher initial installment costs are expected to restrain the market growth over the period. Technical difficulty in installing these units in existing infrastructures is also a major restraint for the overall growth. Lack of government support in some regions is also a key factor restraining the demand.
The global Heat Pump market is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on Heat Pump volume and value at global level, regional level and company level. From a global perspective, this report represents overall Heat Pump market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The following manufacturers are covered:
Carrier Corporation
Daikin
Danfoss
Mitsubishi Electric
NIBE
Airwell
BDR Thermea
Bryant Heating & Cooling
Emerson Climate Technologies
Enertech
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Heat Pump Market Segment by Regions
North America
Europe
China
Japan
Heat Pump Market Segment by Type
Air-to-Air
Air-to-Water
Heat Pump Market Segment by Application
Residential
Commercial
Industrial
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Global Heat Pump Market Opportunities and Trend 2019 to 2025