Friday, April, 19, 2019 05:21:11

Europe Air Source Heat Pump Market for Commercial Application to witness a tremendous 4% CAGR over 2018-2024

Commercial air source heat pump market size is anticipated to grow over 4% by 2024. Escalating demand for HVAC units which are easily integrable with conventional heating systems along with rising infrastructural investment will propel the industry growth. For instance, in 2017, the European Investment Bank signed a deal with Infranode worth over USD 98 million for investment in development of sustainable local infrastructure.

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In Germany, most of the people have been giving preference for efficient and cost-effective renewable heating systems to decrease the dependency on fossil fuels. Air-to-water heat pumps have especially become more popular to be used in new buildings across Germany, owing to their low installation costs and better energy efficiency. Every third newly developed residential building in the country deploys air source heat pump for space heating, thereby expanding the presence of Germany across Europe air source heat pump market.

Europe air source heat pump market has observed remarkable growth lately, in line with the shifting trends toward the increasing use of air as an important energy source in heat pumps that are deployed in industrial, residential, and commercial buildings. Currently, the surging use of fossil fuels for meeting energy demands has had a negative impact on the environment.

Browse key industry insights spread across 327 pages with 354 market data tables & 41 figures & charts from the report, “Europe Air Source Heat Pump Market Size By Product , By Application , Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/europe-air-source-heat-pump-market

Growth drivers of Europe Air Source Heat Pump Market

  • Favorable regulatory framework
  • Growth in the renewable energy sector
  • Increasing demand for energy-efficient systems
  • Extreme climatic conditions
  • Increasing demand for space heating

Europe Air to Air (ATA) heat pump market size is predicted to expand over 3% by 2024. Ability to purify air, cost effectiveness, ease of installation, energy efficiency and zero expenses for ground works are some of the prominent features that will make product adoption preferable over the traditional counterparts. Furthermore, these systems offer consistent comfort on account of their ability to adjust control heating and cooling.

Key industry players across Europe ASHP market include Bosch Thermotechnology, NIBE, LG Electronics, Carrier Corporation, Vaillant, Panasonic, Mitsubishi Electric Corporation, Viessmann, A.O. Smith, Daikin, Johnson Controls amongst others.

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