Spain Air Source Heat Pump Market, By Process (Air to Air (Ducts, Ductless), Air to Water (Split, Integrated)) By End Use (Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.)), By Distribution Channel (Direct, Indirect), By Region, By Company, Forecast & Opportunities, 2024-2032
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
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The Spain Air Source Heat Pump Market size is anticipated to grow at an impressive CAGR during the forecast period due to a rise in energy-efficient, cost-effective heating and cooling appliances in both residential and commercial segments. In addition, it is anticipated that the Spain market for air source technology will be driven by the rising population and the growing need for environment friendly air conditioning in the residential sector.
So, a heat pump? It's basically a clever gadget that grabs heat from the outside air and uses it to either warm up your place, cool it down, or even heat your water! These air-source heat pumps are getting super popular these days, as people learn more about them and the tech gets better. Think of it this wayif it's nicer inside than out, they bring in cool air. If it's chilly inside, they bring in warmth. The cool thing about an air source heat pump (ASHP) is that they only need electricity to run the compressor and all the other bits and pieces. Plus, they're really efficient – they use about 3–4 times less electricity than the energy they actually produce! You just can't beat them when it comes to efficiency and saving money. Now, there are a couple of main typesair-to-water and air-to-air. With Air-to-Water Heat Pumps, the pump snags heat from the outside air and uses it to warm up the water that goes into your radiators. Air-to-Air Pumps, on the other hand, move air directly – changing cold air to hot and then blowing it around your home with fans. And in the summer, they can flip it around, turning hot air into cold!
In 2020, according to Energy Monitor's analysis of European Heat Pump Association (EHPA) data, in Spain, around 128,000 heat pumps were sold.
The electricity cost of the heat pump can be calculated by multiplying the electricity consumption of the heat pump to electricity prices PER kWh, as the electricity cost in Spain is USD 0.333 when multiplied by annual electricity consumption for heating and hot water 3809 kWh/year(assumed) is USD 1300 in Spain.
Government Initiatives in Spain Fuels the Market Growth
So, back in 2021, the Spanish government gave the green light to some subsidies for thermal energy, hoping to boost renewable energy projects. This is to help industries and services that need heat that's not too hot or too cold. Plus, thanks to their climate law, Spain's aiming for 100% renewable energy in the power sector by 2050, meaning fossil fuels will slowly disappear from our electricity. Spain's recovery plan has a pretty hefty €6.8 billion set aside for energy efficiency over the next three years. This will fund upgrades to public buildings, build new social housing, and even help folks improve their own homes with better insulation, photovoltaic panels, and heat pumps. Looking ahead, Spain wants to be carbon neutral by 2050. The idea is that renewable energy will cover 97% of our heating and cooling needs, using things like heat pumps, biomass, renewable hydrogen, and solar power. With all these initiatives pushing renewables, it looks like heat pumps are going to become super popular in Spain, which means we'll likely see a big jump in demand for air source heat pumps.
High Durability along with Low Maintenance Cost Drives the Market Growth
An air source heat pump often lasts a good while. They're built with some pretty advanced tech designed for longevity, so you can expect them to keep chugging along. Sure, an air source heat pump water heater might cost you a bit more upfront compared to your run-of-the-mill water heater. But the good news is, they save you money down the road. They're tougher than conventional water heaters, which tend to give out sooner and need replacing. Plus, another nice thing about air source heat pumps is that they don't need a ton of upkeep. Let's face it, maintenance issues are a pain and can really add up. But heat pump water heaters are simpler and don't demand as much attention as other systems. All of this means air-source heat pumps will likely become even more popular in Spain.
Demand of Energy Efficient Devices Drives the Market Growth
Right now, about 22% of the world's heating and cooling comes from renewable energy, says Eurostat. That means old-school fossil fuels are still doing most of the heavy lifting, around 75%. But here's the cool partheat pumps. They're pretty slick because they can heat your place using just a fraction (one-third to one-fifth) of the electricity that regular electric heaters use. They basically grab heat from the ground, water, or air! And get thisin Spain, thanks to cleaner electricity and better tech, heat pumps will actually release less CO2 than those old natural gas boilers before 2025. So, as the European Union pushes for its energy and climate goals, expect air source heat pump Spain market demand to really take off as everyone switches from fossil fuels to greener options!
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Market Segmentation
Spain's air source heat pump market is segmented into the process, end-use, and Distribution Channels. Based on the process, the market is segmented into Air-to-Air (Ducts, Ductless) and Air-to-Water (Split, Integrated). Based on end users, the market is segmented into Residential, Hotels & Resorts, Gyms & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.). Based on Distribution Channel, the market is segmented into Direct, Indirect. The market analysis also studies the regional segmentation divided among Northern Spain, Western Spain, Southern Spain, Eastern Spain, Southern Western Spain, Central Spain.
Market Players
Panasonic Marketing Europe GmbH; Daikin Europe N.V.; Mitsubishi Electric Europe B.V.; Toshiba Europe Limited; DENSO Europe BV; Argoclima S.p.A.; Ecopropulsion S.L; Bio Ecoforest, S.L.; Dancon – Benita Costa del Sol SL; Chromagen España, SLU; are the major market players in Spain air source heat pump market.
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Attribute |
Details |
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Base Year |
2022 |
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Historic Data |
2018 – 2021 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Million, Volume in Thousand Units and CAGR for 2018-2022 and 2023-2028 |
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Report Coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Segments Covered |
· Process · End Use · Distribution Channel · Region |
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Regional scope |
North Spain; Madrid, Extremadura & Castilla; Aragon & Catalonia; Andalusia, Murcia & Valencia; |
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Key companies profiled |
Panasonic Marketing Europe GmbH; Daikin Europe N.V.; Mitsubishi Electric Europe B.V.; Toshiba Europe Limited; DENSO Europe BV; Argoclima S.p.A.; Ecopropulsion S.L; Bio Ecoforest, S.L.; Dancon – Benita Costa del Sol SL; Chromagen España, SLU |
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Customization scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope
In this report, Spain air source heat pump market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
- Spain Air Source Heat Pump Market, By Process
- Air-to-Air
- Air-to-Water
- Spain Air Source Heat Pump Market, By End Use
- Residential
- Hotels & Resorts
- Gym & Spas
- Education
- Food Service
- Others
- Spain Air Source Heat Pump Market, By Distribution Channel
- Direct
- Indirect
- Spain Air Source Heat Pump Market, By Region
- North Spain
- Madrid, Extremadura & Castilla
- Aragon & Catalonia
- Andalusia, Murcia & Valencia
Competitive Landscape
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Company Profiles
found at Customizations
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Company Information
- Detailed analysis and profiling of additional market players (up to five).
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