Sweden Air Source Heat Pump Market By Process (Air to Air (Ducts Vs. Ductless), Air to Water (Split Vs. Integrated)), By End Use (Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.)), By Sales Channel (Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and Others (Distributors, Builders, etc.)), By Region, By Company, Forecast & Op
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationThe Sweden Air Source Heat Pump Market size is anticipated to grow at an impressive CAGR during the forecast period due to increasing energy efficiency, low carbon emissions, and low maintenance cost. New product launches consisting of innovative features by various companies are a prominent trend anticipated to affect new product launches throughout the forecasted period.
Wow, did you know that Sweden is a real leader when it comes to heat pumps?
They actually have the highest heat pump capacity per person in the whole world! Over a million Swedish homes have these things installed, and it's estimated that more than half of all houses there use them. For ages, Sweden was the big dog in Europe for heat pump sales, both in terms of market share and total units sold.
Since the 1970s, Sweden's heating scene has totally changed. They've been swapping out electric heating and old oil boilers for heat pumps left and right. It's a big deal because they're replacing direct electric heating, electric boilers, and those old oil guzzlers with much more efficient heat pump tech!Heat pumps can use different sources of energy. Although geothermal and hydrothermal sources accounted for most of that energy in the past, technical advancements have made the air a significant energy source. Air-to-air and air-to-water heat pumps are now standard in most European nations.
Due to the country's high demand for air-source heat pumps, heat pump manufacturers are prompted to offer new products. For instance, A high-temperature CO2 (R744) heat pump was launched by Vattenfall, a Swedish multinational power company, that replaced a traditional gas boiler for space heating and hot water generation without the need for pricey retrofitting. The high-temperature heat pump system was explicitly created for existing single-family homes that are moderately insulated, powered by gas boilers, and include radiators.
Increasing Infrastructural Development Will Fuel The Market Growth
In Sweden, you know, everyone's getting heat pumps for their hot water and to keep their houses nice and toasty. The Swedish Energy Agency says things have really taken off since 2009 – like, the number of houses with heat pumps has jumped by over 50%! We're talking at least a million single-family homes now use them. It's because all the new places are getting them, and folks are swapping out their old heating or using heat pumps along with what they already have. And get thisoil heating is way down – over 80% less in the last decade! So yeah, all this heat pump action is a major reason the market's growing like crazy.
Low Maintenance Costs Will Boost the Market Growth
Air-source heat pumps might not be all the rage everywhere just yet, but they've got a lot going for them compared to old-school heating systems. For starters, they're pretty low-maintenance and won't break the bank to operate. Plus, they can handle both heating and cooling in one go! The SKVP, basically the cool kids' club for heat pumps in Sweden, says that money is the big reason folks buy them. The Swedish Energy Agency crunched some numbers and found that air-to-water heat pumps can chop your energy bill by about 50% if you factor in hot water. And air-to-air heat pumps? They can save you 30% to 50% on heating costs. So, yeah, those low running costs really help drive the market!
Lower Carbon Emissions Will Fuel the Market Growth
In Europe, buildings account for about 36% of all CO2 emissions. The ability of heat pumps to reduce the EU's greenhouse gas emissions is one that European policymakers are increasingly appreciating. Since 1990, the overall CO2 emissions from buildings in Sweden have decreased by more than two-third, primarily because of the growth of heat pumps and changes made to the country's heating systems. Heat pump technologies are equipped to decarbonize industrial processes and buildings, including residential and commercial. Thus, increasing concern for the environment will fuel market growth.
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Market Segmentation
Sweden's air source heat pump market is segmented based on the process, end use, sales channel, region, and competitional landscape. Based on the process, the market is further fragmented into air-to-air (ducts vs. ductless) and air-to-water (split vs. integrated). Based on end use, the market is segmented into residential, hotels & resorts, gyms & spas, education, food service, and others (healthcare, offices, etc.). Based on sales channels, the market is segmented into plumbers, dealers & contractors, retail, direct sales, online, and others (distributors, builders, etc.). The market is segmented based on region into, North, Central, and South.
Market Players
Mitsubishi Electric Europe B.V., ENWELL Group, Enertech AB, Daikin Europe NV, Trane Technologies Company, LLC, Carrier Global Corporation, Viessmann Värmeteknik AB, Robert Bosch AB, DENSO Europe B.V. and Nibe AB
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in Thousand Units and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Process · End Use · Sales Channel · Region |
| Regional scope | North, Central and South. |
| Key companies profiled | Mitsubishi Electric Europe B.V., ENWELL Group, Enertech AB, Daikin Europe NV, Trane Technologies Company, LLC, Carrier Global Corporation, Viessmann Värmeteknik AB, Robert Bosch AB, DENSO Europe B.V. and Nibe AB. etc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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