The Germany air source heat pump market is expected to be driven by increasing public awareness of the increased carbon footprint caused by fossil fuel combustion. The increased greenhouse gas emissions have resulted in an increase in pollution and global warming. This combination of factors will encourage the use of electric heat pumps as the primary technology for reducing emissions in heating applications, which is expected to drive market growth during the forecast period.
An air source heat pump is a device used for transferring heat from one place to another using electricity. Heat is not produced by heat pumps. instead, they shift and distribute heat to warm or cool a particular area.
Green energy management systems and technologies have come into greater emphasis as a means of addressing environmental challenges. Such measures are expected to produce profitable chances for the expansion of the heat pump market in the region. For instance, the year 2022 witnessed record-sales for heat pumps in Germany. According to the Federation of the German Heating Industry (BDH), the country delivered 25% more new heat pumps in the first half of 2022. The raw numbers increased from 76,500 to 96,000, and the market share of heat pumps surged from 17 to 21%.
However, the Federation of German Heating Industry, which has 121 member companies that produce heating systems and their components, they are contributing approximately 90% sales generated by the heating industry in Germany.
Companies are offering new innovative products to attract customers and increase their market presence. Manufacturers are focusing on the development of new products to fulfill the demand of the customers. For example, in March 2021, LG Electronics launched its Home Energy Package in Germany. To deliver heat and energy to residential buildings and small businesses, the hybrid system includes a heat pump, a PV system, and battery storage. Similarly, in 2022, Daikin has announced to expand heat pump production capacity in Germany. The company is expected to quicken the growth of its local production capacity with this new investment.
Furthermore, in August 2022, STIEBEL ELTRON GmbH & Co. KG announced a USD594 million investment to expand its heat pump manufacturing activities to produce more than 80,000 units by the end of 2022. This investment strategy was designed to strengthen the company's market presence and production capabilities throughout the region.
Increased Spending on Infrastructure Projects to Boost the Market
Based on application, the Germany heat pump market for residential and commercial sectors is predicted to grow, because new federal government has invested in infrastructure projects. For instance, according to the Global Construction Survey, the construction industry in Germany is expected to grow by 11.1% to reach
Increasing Demand for Energy Efficient Products
The primary advantage of using an air-source heat pump is its energy efficiency. German market for electric heat pump systems is supported by increased energy consumption and a growing need for energy-efficient solutions. According to data from the Energy Information Administration, the nation's overall consumption of electricity was 535.14 TWh in 2021, which led to a greater emphasis on energy efficiency. The use of heat pumps as an alternative to gas heaters to reduce expenses on energy is expected to drive market growth.
Market Segmentation
The Air Source Heat Pump Market is segmented based on process, end use, and sales channel. Based on process, the market is divided into
Company Profiles
Bosch Thermotechnik Gmbh., Johnson Controls International Plc,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion, 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 | South West, South East, North West and North East |
| Key Companies Profiled | Bosch Thermotechnik Gmbh., Johnson Controls International Plc, Glen Dimplex Deutschland GmbH, Solarbayer GmbH, Viessmann Climate Solutions SE, Daikin Manufacturing Germany GmbH, STIEBEL ELTRON GmbH & Co. KG, Toshiba Europe Limited, Mitsubishi Electric Corporation (ECODAN), Carrier Corporation. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of 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/pdf format on special request) |
