Increasing demand for energy efficient and cost-effective heating and cooling applications are the leading factors expected to drive the Germany air source heat pump market during the forecast period.
According to TechSci Research report, “Germany Air Source Heat Pump Market–Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”. The Germany Air Source Heat Pump Market is expected to grow during the forecast period because of several factors such as increased environmental awareness, government initiatives, and financing programs that led to consumers shifting from heating oil to heat pump systems, which are driving increased spending on air source heat pumps.
An air source heat pump extracts heat from the air and uses a compressor to raise the temperature. Then it transfers the heat to the home's heating system. An air source heat pump is a device that moves heat from one location to another using electricity. Generally, the heat pumps do not generate heat, instead they move and redistribute heat which is present within the location to heat or cool a specific space.
Air-to-air heat pumps are an incredibly energy-efficient solution to maintain the ideal temperature throughout the year. They heat and cool the home using energy collected from the air and only consumes 20% of the electricity. However, air to water heat pumps function as both air conditioning and heating systems and water heating systems. Less appliances can be used, which lowers the cost of electricity. Air-to-water systems work by capturing outdoor air and turning it into the water needed to control the temperature inside the home or workplace. Most of them feature as an indoor unit which is kept inside the house, whereas an outdoor unit is the one which is required to be placed next to the house.
However, in 2021, approximately 630,000 gas boilers and 45,000 oil furnaces will be installed in German households. In comparison, even 154,000 heat pumps were installed, representing a 28% increase year on year. The continued positive market trend clearly shows consumers' high degree of acceptance of heat pumps.
The cost efficiency and energy efficiency of heat pumps are two prominent features that drive their demand throughout the region. Rising government initiatives in the form of incentives and tax credits to promote the use of clean and green heating and cooling solutions are expected to have a major impact on the expansion of the air source heat pump market.
Furthermore, rising new infrastructure projects and government efforts to reduce carbon footprints and increase the use of renewable energy sources are expected to drive the growth of the air source heat pump market during the forecast period. Heat pumps' have various advantages, including low maintenance requirement, cost-effective operation, and low greenhouse gas emissions, which have greatly influenced their popularity. Furthermore, its ability to provide water-heating solutions as well as space heating and cooling is expected to drive demand for air source heat pump during the forecast period.
To maintain operational effectiveness, heat pump component manufacture and quality control come at a significant cost. Due to its widespread availability and inexpensive fuel, consumers are also choosing traditional cooling and heating systems, including gas boiler technology. Therefore, the availability of substitute heating systems could present challenges to company growth during the anticipated period. However, the features of heat pumps offer efficiency, cost-effective operation, and long-term energy bill savings, which act as the make up cost for its higher initial costing.
Moreover, manufacturers and distributors have option to produce ever-more innovative goods because of new product innovation and technological advancements made to meet consumer demand. For illustration, in 2022, The TripleAqua introduced its new second-generation heat pump, which will use CO2 (R744) as the refrigerant for the very first time, at Chillventa 2022 in Nuremberg, Germany. The TripleAqua heat pump provides commercial and big residential buildings with CO2-based heating, cooling, and hot water.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the " Germany Air Source Heat Pump Market".
The Air Source Heat Pump Market is segmented based on process, end use, and sales channel. Based on process, the market is divided into air to air (ducts, ductless), air to water (split, integrated). Based on end use, the market is segmented into residential, hotels & resorts, gym & spas, education, food service, and others (healthcare, offices, etc.). Based on sales channels, the market is fragmented into plumbers, dealers & contractors, retail, direct sales, online, and others (distributors, builders, etc.).
Key market players in the Germany air source heat pump market include:
- 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
- Swegon Germany GmbH
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“The development of new feature products is a prominent trend that is expected to have an impact on the growth of air source heat pumps over the forecast period, including investment in the commercial and residential sectors. Furthermore, rapid industrialization and rising population is expected to encourage the use of energy-efficient equipment, and the widespread adoption of heat pump technology in residential applications as a cost-effective heating method is expected to drive market growth during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Germany 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 Sales Channel (Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and Others (Distributors, Builders, etc.), By Region, By Company, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential air source heat pump and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in air source heat pump market Germany.
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