Europe Ducted Heat Pump Market Size
Europe Ducted Heat Pump Market size was valued at USD 1.1 billion in 2023 and is set to grow at over 17.6% CAGR between 2024 and 2032. The increasing trend towards embracing energy-efficient heating and cooling systems, coupled with the expanding consumer purchasing power in relation to efficient HVAC systems, will contribute positively to the industry growth. The heat pump market in Europe is likely to hit USD 78 billion by 2032.
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The product ability to offer both heating and cooling based on seasonal demands in hot and extremely cold climates is poised to enhance the industry landscape. These systems can seamlessly switch between acting as an air conditioner during hot weather and a heater during colder months. This adaptability makes them a year-round climate control solution, thereby contributing significantly to the market expansion.
Europe Ducted Heat Pump Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2023 |
| Europe Ducted Heat Pump Market Size in 2023 |
USD 1.1 Billion |
| Forecast Period |
2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR |
17.6% |
| 2032 Value Projection |
USD 4.9 Billion |
| Historical Data for |
2019 to 2023 |
| No. of Pages |
160 |
| Tables, Charts & Figures |
153 |
| Segments covered |
Application and Region |
| Growth Drivers |
- Increasing demand for energy-efficient systems
- Positive transition toward clean energy alternatives
|
| Pitfalls & Challenges |
- Presence of wide alternatives
|
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COVID- 19 Impact
The heat pump industry in Europe has had a tough time during the COVID-19 pandemic. The economy took a nosedive, and people stopped building and buying homes and businesses. This meant fewer people were looking for heat pumps. Companies making heat pumps also faced challenges. They had trouble getting the materials they needed, and many of their workers had to stay home. They also had to deal with travel restrictions and the slow recovery of shipping networks. Despite all this, heat pump companies have been working hard to keep their factories running and their employees safe. They've come up with new ways to hire and train workers and are investing in new technologies to make their products more efficient. Thanks to their efforts, the heat pump industry in Europe is slowly starting to recover. As the economy improves and people start building and buying homes and businesses again, the demand for heat pumps is expected to increase.
Europe Ducted Heat Pump Market Trends
Growing emphasis on energy efficiency coupled with increasing need for environmental sustainability in the region is projected to foster the industry landscape. Consumers and businesses alike are increasingly adopting ducted heat pump systems due to their impressive energy efficiency, which reduces carbon footprints and lowers utility bills. Furthermore, these systems are known for their ability to provide both heating and cooling, making them versatile solutions for the unpredictable climate variations in Europe. This adaptability is particularly valuable as it allows for year-round comfort and contributes to the industry expansion.
Europe Ducted Heat Pump Market Analysis
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Europeans are embracing a greener lifestyle, and it's showing in their homes! Heat pumps, which warm and cool spaces efficiently, are becoming incredibly popular. By 2032, experts say the market for these eco-friendly gadgets in homes could shoot up by 17.5%. Why the sudden love affair? People want sustainable ways to keep their homes comfy without hurting the planet. Heat pumps are a solution since they use less energy than traditional heating systems. Plus, you can control them with your smartphone, saving even more energy. They also work well with other smart home devices like smart thermostats and solar panels. It's like having your home's temperature on autopilot, using the sun's power!
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Single family ducted heat pump industry is slated to exhibit over 17.9% CAGR through 2032. Zoning & temperature control coupled with increasing aesthetics of Europe ducted heat pumps caters to the large product deployment across single-family or single-owners houses. Ducted systems offer zoning capabilities, allowing homeowners to control the temperature in different areas or rooms independently. This level of customization enhances comfort and energy efficiency by avoiding unnecessary heating or cooling in unoccupied spaces.
Increasing demand for energy-efficient and environmentally friendly solutions coupled with increasing real estate sectors will increase the product deployment across multi family homeowners. The availability and awareness of Europe ducted heat pump systems is anticipated to witness high deployment across multifamily houses & apartments owing to the rising need for zoning heating & cooling demand. As a result, manufacturers and HVAC professionals are offering and promoting these systems, making them more accessible to homeowners, thereby contributing to the Europe ducted heat pump market growth.
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France ducted heat pump market is estimated to expand at a CAGR of 14.5% between 2023 and 2032. French businesses are recognizing the importance of eco-friendly HVAC solutions, driven by stringent environmental regulations and a heightened corporate responsibility for reducing carbon footprints. Ducted heat pumps, renowned for their energy-efficient performance, have become a focal point in addressing these concerns. Companies are increasingly integrating them into their offerings to meet the demand for green and efficient heating and cooling solutions.
Hey there! Europe is getting cozy with heat pumps. More folks are ditching old-fashioned heating and cooling systems for these energy-savvy devices. And with the EU's big plan to wean itself off Russian fossil fuels, heat pumps are getting even hotter. Not just that, but these pumps are getting smarter too! Companies are throwing in fancy controls and tech that let you do cool stuff like controlling your pump with your phone, seeing how much energy it's using, and even making it work with your smart home setup. It's like your heat pump is your own personal energy wizard!
Europe Ducted Heat Pump Market Share
Major manufacturers operating across the Europe ducted heat pump market are focusing on strategic alliances and collaborations to gain a competitive edge over the others. Introduction of enhanced technologies and advance technological components by the eminent players has led to the positive business dynamics. Some of the prominent industries operative in the market includes,
- Trane
- Danfoss
- Daikin
- Carrier
- SAMSUNG
- Bard HVAC
- Mitsubishi Electric Corporation
- Bosch Thermotechnology Corp.
- Rheem Manufacturing Company
- STIEBEL ELTRON GmbH & Co. KG
- OCHSNER
- Glen Dimplex Group
- Lennox International Inc
- Panasonic Corporation
- FUJITSU GENERAL Europe
- Vaillant Group.
Europe Ducted Heat Pump Industry News
- The European Union, under Climate Action, has set a target to reduce CO2 emissions by 55% by 2030, promoting the utilization of renewable energy. The introduction of various incentives, including Low or Zero Interest Loans and Investment Grants, will shift consumer focus from conventional sources to sustainable sources, positively impacting the demand for heat pump units.
- The European Heat Pump Association is offering subsidies post January 2023, for residential heat pumps in the European Union, the United Kingdom, Norway, and Switzerland. The UK government is offering grants of over USD 5,800 for air-source heat for both new buildings and retrofits, thereby complementing the market for Europe Ducted Heat Pump across Europe. In addition, Government of Austria is offering grant for air-source heat pumps installation across new buildings of up to 20% of their price. For retrofit installations, the grant covers up to 35% of the cost to a maximum of USD 5,000. The subsidy is in place from Jan. 3, 2023, to Dec. 31, 2024, in the country.
This market research report on Europe ducted heat pump includes in-depth coverage of the industry with estimates & forecast in terms of ‘“000 Units’ & ‘USD Million’ from 2019 to 2032, for the following segments
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By application
- Residential
- Single family
- Multi family
- Commercial
The above information has been provided for the following countries
Europe
- Austria
- Norway
- Denmark
- Finland
- France
- Germany
