The global heat pump market is segmented into type, application and region. Based on type, the market is divided into air-to-air, water source, and geothermal. Based on application, the market is classified into residential, industrial, and commercial. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the main market players operating in global market are Lowe’s, Bryant Heating & Cooling, Drawdown, Thermax Global, Lennox International Inc., Goodman Manufacturing Company, Suntec Energy Systems, Araner, Heat Pump Association, EECA, and others.
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Heat pump is a device that transfer heat energy from one source to another is called a heat sink. They are used in both industrial and residential areas. It offers an energy efficient alternative to furnaces and air conditioners. The heat pumps are used to transfer heat from a cool to a warm space that helps cool the interior temperature.
The global heat pump market has experienced significant growth over the past few years. The growth of this market is driven by increase in demand for household appliances such as refrigerator and air-conditioners. Rise in demand for keeping the house warm in the residential segment due to change in climate conditions is expected to surge the demand for the market. On the other hand, high cost of installing a heat pump device restrains the growth of this market. Advanced technologies such as dual-source heat pumps, are expected to offer growth opportunities to the market. In addition, heat pumps have witnessed high demand for residential applications, which is further expected to offer lucrative growth opportunities to the global heat pump market.
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Key Benefits for Heat Pump Market:
- The heat pump market size has been analyzed across all regions
- Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building
- The report outlines the current market trends and future scenario of the market size from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets. The market is forecasted for 2019-2026.
- Major countries in the region have been mapped according to their individual revenue contribution to the regional market
- The key drivers, restraints, and market opportunities and their detailed impact analysis are elucidated in the study
- The heat pump market analysis covers in-depth information of major industry participants
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This post was originally published on The Market Plan