Europe Heat Pump Coils Market Size By Heat Pump Type (Air Source, Ground Source, Water Source), & Forecast, 2024 - 2032

Europe Heat Pump Coils Market Size By Heat Pump Type (Air Source, Ground Source, Water Source), & Forecast, 2024 - 2032

Europe Heat Pump Coils Market Size

Europe Heat Pump Coils Market was valued at USD 1.1 billion in 2023 and the industry is set to grow at CAGR of 18.9% by 2032. Rising demand for energy efficient technologies, adoption of sustainable systems, along with rising investments in modern building construction, will positively impact the business landscape.

To get key market trends

  Download Free Sample

Favorable government regulations, along with the introduction of grants and incentives aimed at promoting the use of energy-efficient technologies, will expedite the adoption of these products. For instance, In January 2023, the German government updated its incentive program to encourage the adoption of heat pumps employing natural refrigerants, offering base subsidy of 25%, potential to cover up to 40% of the costs related to installation of heat pumps.
 

What are the growth opportunities in this market?

 Download Free Sample

Europe Heat Pump Coils Market Trends

Europe heat pump coils industry is set to grow owing to adoption of advanced technologies, growing environmental concerns and introduction of stringent energy efficiency standards. Integration of smart technologies for enhanced operational efficiency and energy management has led to increased deployment of heat pump coils. Favorable schemes including incentives and rebates further encourage investment in modern and environmentally friendly heating and cooling solutions among residential and commercial applications. For instance, in April 2023, the EU set a target to install 60 million additional heat pumps by 2030, which aims to reduce the EU's gas demand for buildings by 40% by 2030, resulting in a projected decrease of over USD 65 billion in the EU's energy import expenditure.

Europe Heat Pump Coils Market Analysis

Learn more about the key segments shaping this market

 Download Free Sample

The air source heat pump market is projected to cross USD 5.2 billion by 2032 and will gain momentum owing to the increasing adoption of these units in various establishments is driven by their temperature control features, zonal heating capabilities, and the growing emphasis on product aesthetics. Moreover, changing climatic conditions, shifting consumers preference for reliable and efficient heating & cooling systems and a positive outlook towards enhanced indoor comfort will further bolster the industry landscape.

Learn more about the key segments shaping this market

 Download Free Sample

France heat pump coils market is set to surpass USD 0.6 billion by 2032, driven by the development of residential and commercial infrastructure, favorable economic conditions, and stringent regulations promoting energy efficiency, that accelerated the heat pump deployment. Government support, demonstrated through the implementation of supportive policies and financial incentives such as grants, subsidies, and tax benefits, has also played a significant role in driving the adoption of heat pump technologies. For instance, in September 2023, the French Government announced plans to accelerate green energy adoption, focusing on heat pumps and electricity price control. The government aims to triple domestic heat pump production by 2027, as an alternative to gas boilers, and renovate social housing for climate neutrality.

Europe Heat Pump Coils Market Share

Looking for region specific data?

 Download Free Sample

Key companies actively participating across the industry are engaging in new strategic collaborations, mergers & acquisitions, and partnerships, as they are emphasizing to gain a competitive edge. Carrier, DAIKIN APPLIED, Bosch Thermotechnology Corp., MODINE MANUFACTURING COMPANY, and EVAPCO, Inc. holds the majority of market share across the Europe heat pump coils industry.

Europe Heat Pump Coils Market Companies

Key industry players operating across industry include

• 4 COILS TECH s.r.o.
• Aspen Manufacturing
• Beehive Coils
• Bosch Thermotechnology Corp.
• Carrier
• DAIKIN APPLIED
• EVAPCO, Inc.
• HC Coils Ltd
• Kaltra
• Kelvion Holding GmbH
• MODINE MANUFACTURING COMPANY
• S & P Coil Products Limited
• Thermal Transfer Technology Ltd
• TTC NORGE AS
• Turnbull & Scott Group

Europe Heat Pump Coils Industry News

• In May 2023, Modine announced the expansion of its factory located in Sremska, Serbia, in response to increasing demand within the European heat pump market. The new facility will specialize in manufacturing coils designed for both commercial and residential heat pump applications. Over the years, the facility has undergone new investments and was expanded in 2019 to accommodate the rising demand in the heat pump market. The upcoming facility will be situated adjacent to the existing manufacturing plant.
• In March 2022, Delphi introduced the Delphi MCHX outdoor heat pump coil designed for air-source heat pump systems. This innovative coil serves as a condenser in cooling mode and an evaporator in heating mode, offering significant advantages such as reduced weight and size, recyclability, and decreased refrigerant usage. The company’s microchannel technology ensures optimal performance and efficient defrost processes, applicable for both indoor and outdoor use.

Europe heat pump coils market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2019 to 2032 for the following segments

Click here to Buy Section of this Report

Market, By Heat Pump Type

• Air Source
• Ground Source
• Water Source

The above information has been provided for the following countries

• Austria
• Norway
• Denmark
• Finland
• France
• Germany
• Italy
• Switzerland
• Spain
• Sweden
• UK
• Netherlands