Raising awareness towards energy efficient products, favored government policies, and low running cost of heat pumps are the factors driving the Air Source Heat Pump market in United Kingdom.
According to TechSci Research report, “United Kingdom Air Source Heat Pump Market”- By Region, Competition Forecast and Opportunities, 2018-2028F”. United Kingdom Air Source Heat Pump market is expected to grow at an impressive rate. The market is driven by the growth of air conditioning, increasing energy efficient products, low carbon footprints, and various government schemes.
Air source heat pumps are efficient heating and cooling systems that can generate one to three times as much heat as needed. Compared to conventional systems, which must convert the heat from a fuel source, they are more effective since they can move or transfer heat from the air.
Most home heating systems either burn fuel or generate heat from electricity. But because they don't produce heat, heat pumps are different. Instead, they bring outside heat energy into the house. Therefore, they are more effective as a result. Considering that they produce more heat energy than they use electricity. Thus, running a heat-pump system can be less expensive than running a conventional fossil fuel heating system.
In the UK, "air-to-water" air source heat pump systems are the most common. These systems transfer the heat into a typical "wet" heating system. As it offers dual features to its consumers by providing both the functions such as central heating and hot water with this arrangement. Whereas the air to air heat pumps is uncommon in the country. Additionally, as their name implies, these transfer heat into the air, which circulates around the house. However, don't provide hot water. They are more generally referred to as air conditioning units, depending on the season, they can switch between heating and cooling.
Homes in the UK have access to financial assistance from the government in the form of subsidies that cover energy-saving and renewable technologies like solar panels and insulation and heat pumps. The Domestic Renewable Heat Incentive (DRHI), Boiler Upgrade Scheme, Warmer Homes Scotland, Home Energy Scotland Loan, and Nest Scheme are few of the grants given by the government of the United Kingdom to its residents. For a free heat pump the specific incentives, such as Warmer Homes Scotland and the Nest Scheme in Wales are provided to the residents, if they match with the specified criteria provided under the government guidelines. And most of the UK homeowners had already qualified for the criteria to gain the reward at least once. Additionally, following the introduction of the VAT reduction on renewable energy technologies announced on March 23, 2022, can save more than USD 7,600. The reduction converted the initial low 5% VAT to 0%.
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United Kingdom Air Source Heat Pump market is segmented based on process, end use, sales channel, region, and by company. Based on process, the market is segmented into air to air (ducts, ductless), air to water (split, integrated). Based on end use the market is divided into residential, hotels & resorts, gym & spas, education, food service, and others. Based on sales channel, the market is fragmented into plumbers, dealers & contractors, retail, direct sales, online, and others. The market analysis also studies the regional segmentation divided among England, Scotland, Wales, and Northern Ireland.
In response to the unpredictability in gas prices around the world, the UK government has implemented heat pump funding. The average household's energy bill is expected to rise by 33% or USD 509 after gas prices increased by 37% to reach record high of 407p per therm (100,000 British thermal units)) in October 2021. By providing people significant heat pump grants, the UK can develop its own renewable energy industry that is independent of fossil fuels.
Major operating companies operating in the United Kingdom Air Source Heat Pump Market are:
- Viessmann Climate Solutions SE.
- Vaillant Group UK Limited
- Daikin Airconditioning UK Ltd.
- Hitachi Europe Ltd.
- Robert Bosch UK Holdings Limited
- NIBE Energy Systems Limited
- Samsung Electronics (UK) Limited
- Trane UK Limited
- Aermec UK Ltd
- Mitsubishi Electric Europe B.V.
To stay ahead of their competitors, businesses are setting manufacturing facilities of heat pumps in the United Kingdom. For instance, in 2022, Vaillant Industrial UK have started producing heat pumps in addition to its UK line of high efficiency boilers. Over the past ten years, Vaillant has made considerable investments in heat pump research and development, which differentiates it in its contribution to the UK Government's objective for reducing carbon emissions from heat and hot water demands. The capacity have raised starting in 2022 to accommodate the popular aroTHERM plus air-to-water heat pump. The aroTHERM plus, which was introduced in 2020, is one of the few devices on the market that use the environmentally friendly refrigerant R290, which has a low three-global warming potential. The award-winning aroTHERM plus, which can achieve flow temperatures up to 75 degrees, is quickly rising to the top of the market.
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“By 2028, it is anticipated that the air source heat pump market's commercial application sector will contribute a sizeable portion of revenue. The installation of heat pumps in commercial buildings will rise as clean there will a rise in technology adoption and the building of sustainable structures.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
United Kingdom 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 of the UK air source heat pump market and provides statistics & information on market size, structure, and future market growth. the report intends 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 in the Air Source Heat Pump market in United Kingdom.