The European heat pumps market is anticipated to at a remarkable CAGR during the forecast period. With climate-friendly policies and stringent frameworks, the contributions from major forerunners such as Germany, France, Italy, Spain, Norway, and Sweden have made a significant impact in the global heat pumps market However, major economies like UK is yet to make an impact that can elevate the position of the industry in the region. The European Heat Pump Association also believes that technology can tap the opportunity in developing markets of Europe as the Scandinavian and Nordic countries are well established as of 2019. The Energy Performance of Buildings Directive (EPBD) and the Energy Efficiency Directive is expected to support the market across Europe. As per EU, with over 12 million heat pumps installed in the region as of 2019, the room for expansion remains more certain with tapping the potential markets.
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Countries such as Sweden, Germany, and Norway are considered stable markets for heat pumps where the UK has expanded its portfolio in recent years. The UK government has taken special initiatives that are targeted towards the ground source heat pumps where the target is to install 1 million heat pumps a year by 2035 where capital grants are also expected to be offered as a part of the 2021 support framework for low carbon heating. The vendors can make use of the upcoming opportunity to increase their market share in UK.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
European Heat Pumps Market Report Segment
By Product Type
- Air Source
- Water Source
- Ground Source
By Capacity
- <10KW
- 10KW-20KW
- >20W
By End-user
- Commercial
- Industrial
- Residential
European Heat Pumps Market Report Segment
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
The Report Covers
- Comprehensive research methodology of the European heat pumps market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the European heat pumps market.
- Insights about market determinants that are stimulating the European heat pumps market.
- Detailed and extensive market segments with the regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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