Scroll Heat Pump Compressors Market Size - By Application (Air Source Ground Source, Water Source), COVID-19 Impact Analysis & Forecast, 2023 - 2032

Scroll Heat Pump Compressors Market Size - By Application (Air Source Ground Source, Water Source), COVID-19 Impact Analysis & Forecast, 2023 - 2032

Scroll Heat Pump Compressors Market Size

Scroll Heat Pump Compressors Market size surpassed USD 5.3 billion in 2022 and is anticipated to grow at 15% CAGR from 2023 to 2032 owing to the increasing demand for efficient heating and cooling. The global market for heat pump compressors is likely to hit USD 42.5 billion by 2032.

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The ability of these units to offer several operational advantages including reliable operations, high efficiency, cost-effectiveness, and compact size will positively influence the product demand. The rising adoption of energy efficient units across residential & commercial establishments coupled with ongoing replacement of conventional heating systems to reduce carbon emissions will further accelerate the industry growth.
 

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COVID- 19 Impact

The COVID- 19 outbreak has impacted the scroll heat pump compressors market owing to a decline in the process of manufacturing and shutdown of facilities along with labor shortages, limited product deployment and disruptions in supply chain network. However, the companies have unveiled new measures to curb the prevailing restrictions and maintain the production outputs, positively catering to the industry development. Moreover, favorable government norms along with accelerating investments for the development of advance technological systems is set to recover the business landscape. Several administrations introduced positive targets clean environment caused by the pandemic with several supporting and beneficial programs for renewable technologies counterbalancing the heat pump industry outlook.

Scroll Heat Pump Compressors Market Analysis

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The scroll heat pump compressors industry is driven by variety of factors, including continuously increasing demand for energy-efficient heating and cooling solutions, developing construction industry, and the accelerating use of heat pumps across residential and commercial establishments. Additionally, the growing need of heat pumps in industrial processes will also contribute to industry growth as these units can operate over a wide range of temperatures and pressures, which makes them suitable for practice in a variety of heat pump systems.

Favorable government regulations, grants and incentives promoting the use of energy-efficient technologies, along with expansion and development of smart infrastructure are some of the key factors shaping the scroll heat pump compressors market growth. In February 2023, Danfoss announced to construct a new sensor and compressor production facility located in Apodaca, Mexico. The premises will manufacture medium & large scroll compressors, pressure sensors for HVAC/HVAR, and air to liquid leak detection sensors suitable for commercial and residential air conditioning & refrigeration.

However, the introduction of stringent energy efficiency goals by the respective authorities to curb the carbon emissions have led the industry participants to introduce enhanced technological systems with low emission will further boost the industry landscape.

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The air source heat pump systems with scroll compressors was estimated to hold over 91% revenue share in 2022 on account of their wide ranging integration in both residential and commercial operations. The ease of installation and the ability to serve various applications will further accelerate the scroll heat pump compressors market demand. Ongoing technological advancements by key manufacturers in the industry are further driving the market development. Manufacturers are continuously improving the efficiency and performance of scroll compressors, making them more attractive to end-users and HVAC system designers stimulating the business dynamics.

Ground source heat pumps using scroll compressors is anticipated to observe a significant momentum owing to the of the increasing focus toward reducing the carbon emissions coupled with rising acceptance of these systems across residential and commercial applications to offer ambient space heating and cooling. Minimal disturbance to the existing environment, enhanced efficiency and ability to deliver sufficient heat across residential and commercial establishments will stimulate the product penetration. Moreover, introduction of favorable reforms and grants by the respective governments across several geographies will stimulate the industry growth.

For instance, in April 2022, the UK government-initiated Boiler Upgrade Scheme to offer grant of more than USD 7,400 (GBP 6,000) for installation of ground source heat pumps effectively from April 2022 to April 2025. Also, the minimal disruption to the existing landscape makes these systems an ideal choice for retrofit applications across residential, commercial, and industrial establishments, in line with growing concerns toward emissions reductions will increase the demand for clean and energy-efficient technologies will enhance the scroll heat pump compressors market landscape.

Water source heat pumps is anticipated to witness a significant turnaround due to the increasing awareness about the impact of HVAC systems on energy consumption and greenhouse gas emissions. Several manufacturers are focusing on R&D and advancements in technology including variable speed compressors, inverter technology, and smart controls, which further enhances the performance of these systems will proliferate the industry potential.

For example, in February 2023, Johnson Controls introduced its new and enhanced YORK heat pump systems at the AHR Expro 2023, held in Atlantan, U.S. The company launched a two-module unit of the Air-Cooled, YORK YMAE Inverter Scroll Modular Heat Pump along with 112 scale models of the Water-Water Screw Heat Pump, YORK YVWH and the YORK CYK Water-Water Compound Centrifugal Heat Pump. The growing popularity of these systems across commercial establishments owing to their increased energy efficiency, ease of maintenance and low operating costs will further influence the scroll heat pump compressors market dynamics.

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The Europe scroll heat pump compressors industry crossed a valuation of USD 1.4 billion in 2022. The industry is set to witness an appreciable momentum led by the variations in climatic conditions in various geographies, along with elevating demand for efficient space heating & cooling solutions in the region. However, respective governments have announced numerous beneficial policies to address the adoption of energy efficiency systems together with rising disposable incomes will augment the industry dynamics. The growing penetration of residential and commercial building structures owing to rapidly growing urban population that have led to a significant increase in the deployment of heat pumps, further complementing the industry landscape.

Scroll Heat Pump Compressors Market Share

Major players operating in the scroll heat pump compressors market are making strategic alliances and partnerships to strengthen their market presence and are focusing on mergers and acquisitions to hold a competitive edge over the others. For instance, in March 2023, Danfoss completed the acquisition of compressor manufacturer BOCK GmbH. With this acquisition, the company aims to expand its portfolio to include diverse range of heat pump compressors while enhancing their market foothold.

Key manufacturers in the industry include

• Danfoss
• Emerson Electric Co.
• BITZER
• Panasonic Industry Co., Ltd.
• DAIKIN INDUSTRIES, Ltd.
• LG Electronics
• Samsung
• Mitsubishi Electric Corporation
• InvoTech Scroll Technologies Co., Ltd.
• JOHNSON CONTROLS - HITACHI AIR CONDITIONING COMPANY
• ATLAS COPCO AB
• Siam Compressor Industry Co., Ltd.

Scroll Heat Pump Compressors Industry News

• In April 2023, Danfoss introduced VZN series, a new lineup of scroll compressors suitable for commercial propane (R290)-based heat pumps in a wide range of 20 kW – 200 kW at the ISH trade show 2023, held in Frankfurt, Germany. This launch expanded the company’s product portfolio and further strengthened its market presence across the scroll heat pump compressors industry.
   
• In October 2022, Emerson Electric Co. enhanced its R290 propane scroll compressor design for heat pumps, announcing four models of different capacities. that low-sound, efficient and compact. These units provide better efficiency with A++ performance at a temperature range of 55°C (131°F) and only half at a noise pressure of standard compressors, at -10dB(A), in full capacity. These units were introduced at the Chillventa trade show that was held in Nuremberg, Germany.

This scroll heat pump compressors market research report 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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Market, By Application

• Air source
• Ground source
• Water source

The above information has been provided for the following countries

• North America
  • U.S.
  • Canada 
• Europe
  • Austria
  • Norway
  • Denmark
  • Finland
  • France
  • Germany
  • Italy
  • Switzerland
  • Spain
  • Sweden
  • UK
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • Australia
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • Turkey
  • South Africa
• Latin America
  • Brazil
  • Mexico
  • Argentina