Europe Industrial Heat Pump Market Size – By Product, By Capacity (< 500 kW, 500 kW to 2 MW, 2 MW - 5 MW, > 5 MW), By Temperature (80-100°C, 100-150°C, 150-200°C, > 200°C), By Application, & Forecast, 2024 - 2032

Europe Industrial Heat Pump Market Size – By Product, By Capacity (< 500 kW, 500 kW to 2 MW, 2 MW - 5 MW, > 5 MW), By Temperature (80-100°C, 100-150°C, 150-200°C, > 200°C), By Application, & Forecast, 2024 - 2032

Europe Industrial Heat Pump Market Size

Europe Industrial Heat Pump Market was valued at USD 464.1 million in 2023 and is set to grow at CAGR of 5.7% from 2024 to 2032. Rising heating & cooling demand across industrial operations along with increasing utilization of waste heat from various industrial processes will complement the industry landscape.

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Strong emphasis toward energy-efficiency coupled with favorable regulatory norms by respective authorities will positively influence the business dynamics. For instance, in March 2203, The EU introduced Net-Zero Industry Act to simplify regulations, develop European standards, set industrial capacity targets for 2030, and promote public procurement of clean technologies.
 

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Europe Industrial Heat Pump Market Trends

Europe industrial heat pump industry is anticipated to grow owing to implementation of stringent energy efficiency standards, adoption of cutting-edge technologies, and rising environmental concerns. Favorable regulatory environment that encourages adoption of energy-efficient technologies coupled with introduction of energy efficiency targets by the authorities are encouraging industries to adopt energy efficient systems. For instance, by enabling Member States to support net-zero technologies through strategic projects with priority status, accelerated permitting timelines, and simplified procedures, the EU passed the Net-Zero Industry Act in May 2024, with a goal of improving domestic manufacturing of clean technologies.

Europe Industrial Heat Pump Market Analysis

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Air source heat pump segment is anticipated to cross over USD 270 million in 2032. Growing demand for efficient space heating, cooling and hot water solutions across industrial applications along with increasing inclination toward reducing emissions will positively influence the industry outlook. Ongoing advancements in technologies across components including development in heat pump compressors, refrigerants to improve overall efficiency will accelerate the product adoption. Moreover, easy installation, versatile operations and cost-effectiveness together with widespread deployment for various industrial processes will positively influence the air source heat pump industry landscape.

Ground source heat pump is set to grow on account of rising deployment of these systems across various industrial applications for industrial heating & cooling together with rising focus on reducing carbon emissions. These systems are cost-effective and clean system that utilize low-temperature geothermal liquids to heat water for circulation in building radiators and convection heaters further augmenting product adoption.

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< 500 kW capacity segment is anticipated to witness a CAGR of over 5% through 2032. Industries are adopting proactive efforts to lower operating costs and carbon footprints while promoting energy-efficient solutions. Rapid deployment of these technologies to meet the unique heating and cooling requirements of a wide range of industries, including paper & pulp, food and beverage, chemical processing, and manufacturing will further augment the industry outlook.

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Finland industrial heat pump market is projected to surpass USD 90 million by 2032. Growing demand for reliable heating systems with enhanced degree of independence and increasing energy cost is set to influence the business landscape. Favorable schemes by the government authorities for reducing carbon footprint and flourishing investments for district heating projects will shape the business dynamics. Moreover, rising adoption of these units for minimum environmental impact, and favorable government grants for adoption of energy-efficient systems, will complement the industry growth.

Europe Industrial Heat Pump Market Share

Key companies operating in the Europe industrial heat pump industry are characterized by intense competition attributed by product diversification, consolidating their market presence through strategic partnerships, and mergers & acquisitions, as they actively seek to enhance their competitive position. Makor players including ATLAS COPCO AB, GEA Group, Danfoss, Siemens Energy, Johnson Controls, and Daikin Applied Europe S.p.A. hold the major market share across the Europe industrial heat pump industry.

Europe Industrial Heat Pump Market Companies

Key industry players operating across industry include

• AGO GmbH Energie + Anlagen
• ATLAS COPCO AB
• Carrier
• Danfoss
• Daikin Applied Europe S.p.A.
• GEA Group Aktiengesellschaft
• HELIOTHERM Wärmepumpentechnik Ges.m.b.H.
• Johnson Controls
• MAN Energy Solutions
• OCHSNER
• Oilon Group Oy
• Piller Blowers & Compressors GmbH
• Qvantum Energi AB
• Siemens Energy
• Swegon Group AB
• Thermax Limited
• Turboden S.p.A

Europe Industrial Heat Pump Industry News

• In March 2024, GEA Group Aktiengesellschaft have provided tow large industrial heat pump units to Neukölln district heating plant across Berlin, Germany. These heat pumps will support the eco-friendly district heating for houses across Kreuzberg and Neukölln. These 8.5 tonnes of heat pumps are the vital component of district heating system and research project across the nation. In addition, large industrial heat pumps would be installed across the Mannheim, Stuttgart and Rosenheim along with tested in real operation until March 2026.
   
• In January 2024, Johnson Controls has launched York portfolio of YCPB and YMAE industrial heat pump units for European market. The YPCB air to water heat pump units are designed for low ambient heating owing to its large liquid injection compressors. These heat pumps come in new 4-pipe and standard 2pipe versions with ambient temperatures down to -25 ºC and hot water up to 60 degrees Celsius. Both heat pump having the capacity of 300-700 KW and utilize low R454B refrigerant, that has already proved its efficiency with YORK product range.

This Europe industrial heat pump market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” and “USD Million” from 2021 to 2032 for the following segments

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Market, By Product

• Air source
• Ground source
• Water source
• Closed cycle mechanical heat pump
• Open cycle mechanical vapor compression heat pump
• Open cycle thermocompression heat pump
• Closed cycle absorption heat pump

Market, By Capacity

• < 500 kW
• 500 kW to 2 MW
• 2 MW - 5 MW
• > 5 MW

Market, By Temperature

• 80°C - 100°C
• 100°C - 150°C
• 150°C - 200°C
• > 200°C

Market, By Application

• Industrial
  • Paper
  • Food & beverages
  • Chemical
  • Iron & steel
  • Machinery
  • Non-metallic minerals
  • Others
• District heating

The above information has been provided for the following countries

• UK
• Norway
• Denmark
• Finland
• Sweden
• Germany
• Poland
• Spain
• Austria