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European Heat Pumps Market 2020-2026

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  • January 2021
  • Region: Europe
  • Orion Market Research Private Limited
  • ID: 5240927
European Heat Pumps Market Size, Share & Trends Analysis Report by Product Type (Air Source, Water Source, and Ground Source), by Capacity (< 10KW, 10KW-20KW, >20KW), and by End-user (Commercial, Industrial, and Residential) Forecast Period (2020-2026).

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.

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.

However, the COVID-19 pandemic has disrupted nearly all the major end-user industries in Europe, resulting in decreased demand for heat pumps. Under the lockdown norms, the commercial and industrial activities came to a halt, which had a negative impact on the heat pumps industry in Europe.

The European heat pumps market is segmented based on product type, capacity, and end-user. Based on product type, the heat pumps market is segmented into air source, air-to-air, air-to-water, water source, and ground source. Based on capacity, the heat pumps market is segmented into < 10KW, 10KW-20KW, >20KW. Based on end-user, the market is classified into commercial, industrial, and residential.

Country-wise, the market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. France is leading the market in Europe with extensive resources and investment in construction activities in the past decade. While the new dwellings in France are expected to offer greater opportunities for low carbon technologies, the less stringent building regulations and new build market can pose only minimal opportunity in the Netherlands. Geothermal is considered a major driver to achieve the mid-term and long-term goals set by the French law on energy transition. France is considered to be one of the geothermal hubs of Europe where more than 70 geothermal plants provide space heating. The aim of increasing the contribution of renewable sources from 23% in 2020 to 32% in 2030 can potentially make use of heat pumps, especially in the ground source segment.

Research Methodology

The market study of the European heat pumps market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. the team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. the analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.

Secondary Sources Include:
  • Financial reports of companies involved in the market.
  • Whitepapers, research-papers, and news blogs.
  • Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation:

1. European Heat Pumps Market Research and Analysis by Product Type
2. European Heat Pumps Market Research and Analysis by Capacity
3. European Heat Pumps Market Research and Analysis by End-User

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.

Table of Contents

1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Key Strategy Analysis
3.2. Key Company Analysis
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
4. Market Determinants
4.1 Motivators
4.2 Restraints
4.1. Opportunities
5. Market Segmentation
5.1. EuropeanHeat Pumps Market by Product Type
5.1.1. Air Source
5.1.2. Water Source
5.1.3. Ground Source
5.2. European Heat Pumps Market by Capacity
5.2.1. < 10KW
5.2.2. 10KW-20KW
5.2.3. >20W
5.3. European Heat Pumps Market by End-user
5.3.1. Commercial
5.3.2. Industrial
5.3.3. Residential
6. Regional Analysis
6.1. UK
6.2. Germany
6.3. France
6.4. Italy
6.5. Spain
6.6. Rest of European
7. Company Profiles
7.2. BDR Thermea Group
7.3. Danfoss S/A
7.4. GEA Group Aktiengesellschaft
7.5. Glen Dimplex Deutschland GmbH
7.6. Hitachi Air Conditioning Co.
7.7. Johnson Controls International plc
7.8. NIBE Industrier AB
7.9. Mitsubishi Electric Corp.
7.10. Robert Bosch GmbH
7.11. The Vaillant Group
7.12. The Viessmann Group
7.13. WOLF GmbH

Companies Mentioned

A selection of companies mentioned in this report includes:

  • BDR Thermea Group
  • Danfoss S/A
  • GEA Group Aktiengesellschaft
  • Glen Dimplex Deutschland GmbH
  • Hitachi Air Conditioning Co.
  • Johnson Controls International plc
  • NIBE Industrier AB
  • Mitsubishi Electric Corp.
  • Robert Bosch GmbH
  • The Vaillant Group
  • The Viessmann Group
  • WOLF GmbH