The global heavy duty heat pump market is expected to undergo notable growth in the upcoming years. The market is projected to expand at a 2.5% CAGR through 2031. The estimated market growth will likely remain constant or presumably increase owing to the rise in demand for heating and cooling each year all over the world. Heavy-duty heat pumps provide heating and cooling service on a large basis.
For instance, residential parks, commercial buildings, district heating and cooling, data centers, etc., industrial and CHPCs get all their heating and cooling needs met by the application of these heavy duty heat pumps. Air source heat pumps, geothermal heat pumps, and absorption heat pumps are some of the types of heavy duty heat pumps- all of which contribute to the growth of the heavy duty heat pump market during the forecast period.
Heavy-duty heat pumps are gaining high utilization in residential, commercial, and industrial industries. These pumps also find usage in CHPCs because of their ability to provide a smooth uninterrupted supply of heating and cooling. Aside from the commercial sector, the district cooling and heating sector are also counted as a prime growth driver of the heavy duty heat pump market as they generate growing demand for hybrid and ground source heavy duty heat pumps. In addition to this, strategies adopted by major market players also aid the target market growth.
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“Rising adoption of heavy duty heat pumps in CHPCs and district heating and cooling industry will propel the global growth of the heavy duty heat pump market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising heating and cooling needs all over the world stimulate market opportunities.
- High requirements for the target product due to weather conditions drive the heavy duty heat pump market growth in China.
- Air conditioning and heating needs in GCC countries will offer lucrative opportunities to the market.
- By refrigeration types, natural refrigerants like CO2 and ammonia will gain traction during the forecast period.
- On the basis of the power range, 10-20 MW will witness high demand.
Competitive Landscape
Thermax Ltd, Star Refrigeration, GEA Group, MAN Energy Solutions, Oilon OY, Siemens Energy, Johnson Controls, Friotherm AG, Engie Refrigeration GmbH, Daikin Industries, Enertech AB, and Mitsubishi Heavy Industries among others are some of the major players in the heavy duty heat pump market profiled in the full version of the report.
Key market players are concentrating on competitive price offerings, enhancing product performance and efficiency to cater to market demands. These enterprises are employing tactics such as increasing research and development activities via strategic partnerships and collaborations to launch innovative products in the market. Further, setting up sales and service facilities in emerging facilities along with long-term partnerships with regional distributors also helps these market players to expand their reach.
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Heavy Duty Heat Pump Market
By Type
- Air-water Heat Pump
- Air-air Heat Pump
- Ground Source Heat Pump
- Hybrid Heat Pump
By Power Source
- Electric
- Gas Driven
By System Type
- Air Source Heat Pump
- Geothermal Heat Pump
- Absorption Heat Pump
By Refrigerant Type
- HFC
- CO2
- Ammonia
- Hydrocarbons
- Others
By Power Range
- 5 to 10MW
- 10 to 20MW
- 20 to 40MW
By End User
- Residential
- Commercial
- Industrial
- CHPCs
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Related Links –
https://limex.me/profile/543961312/6725540/?showMore=1
https://anotepad.com/note/read/25mi9tqk
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