Sellbyville, DE -- (SBWIRE) -- 03/06/2019 -- Germany heat pump market will witness an appreciable growth on account of increasing demand for reliable, sturdy and energy efficient system to reduce electricity bills across residential and commercial establishment. Increasing concern to minimize heat consumption from fossil driven systems to curb greenhouse gas emissions will propel the heat pump market across Germany. Regulators Across the country in line with the Climate Action Plan 2050 have introduced regulation and norms to reduce the GHG emissions. The plan aims to minimize the CO2 emissions over 50% by 2030 from 1990 levels. Furthermore, the energy saving regulations (EnEV) introduced in 2009, sets energy standards for retrofitting and construction of commercial and residential buildings.

Geothermal heat pump market will witness substantiate growth owing to its ability to utilize ground or water temperature for providing heating and cooling across establishments. Minimized heat transfer loss, low installation and O&M cost are some of the imperative parameters fueling the product adoption. Technological advancement in heat pump design to enhance its efficiency will further complement the business outlook. Ground source heat pumps are preferred over water source heat pumps owing to their ability to extract heat from ground by circulating antifreeze liquid through buried pipe.

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Geothermal heat pump market in 2017 witnessed an annual installation of over 25 '000 units. Ongoing technological innovation in system design to improve efficiency, reduce installation cost, heat loss, and energy consumption will positively sway the industry dynamics. For instance, according to Department of Energy, the geothermal heat pump can reduce the annual energy consumption by 30% to 60%. In addition, ability to deliver cooling or heating across residential and commercial establishments by utilizing water or ground temperature will further enhance the product penetration.

Commercial based heat pump market is expected to exceed over 20 thousand units by 2024.Growing demand for retrofit and replacement of existing cooling and heating units along with increasing investment toward infrastructural development will stimulate the product demand. Ease of integration with conventional systems and increasing demand across new constructed or existing buildings will further positively influence the business landscape.

Sole to water in 2017, accounted for over 5% of the Germany heat pump market share. Growing demand for domestic hot water supply and space heating across suburban areas will propel the industry dynamics. Introduction of green building standards and codes to reduce GHG emissions will further complement the business outlook. For instance, Germany introduced Energy Saving Ordinance that frameworks mandatory performance requirements for new and retrofit buildings which in turn have inclined consumer perspective towards the installation of energy efficient technologies.

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Key participants across the Germany heat pump market include Trane, Vaillant Group, Modine Manufacturing Company, Systemair Sverige AB, Viessmann, Danfoss, Carrier Corporation, Toshiba, Glen Dimplex, Stiebel Eltron, Swegon, Thermic Energy, Solarbayer, Bosch Thermotechnology, Danfoss, Daikin, Wolf, NIBE, Weishaupt.

The heat pump market across the nation is highly fragmented in nature with several collaborations, mergers and acquisitions being witnessed with an aim to increase global footprint and enhance customer portfolio. Moreover, technological innovation in system design has also been a key strategic implementation to further diversify the existing product portfolios.