Heat Pumps Market Research 2020 Focusing on Key Companies, Development, Trends, Challenges, Growth, Countries, Revenue & Forecast to 2030

This FMI study offers a ten-year analysis and forecast of the global heat pumps market between 2016 and 2026. The study considers 2015 as the base year with market values estimated for the year 2016 and a forecast developed for the duration of 2017 to 2026. Compound Average Growth Rate (CAGR) is represented from 2016 to 2026. The study covers various perspectives of the market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global heat pumps market is projected to grow at a CAGR of 7% between 2016 and 2026 in terms of value. Growing environmental concerns, supportive policy frameworks and reasonable costs of operations are some of the factors positively impacting the uptake of the heat pumps in the global market.

The Future Market Insights report on heat pumps carefully analyses the market at a global and regional level through market segmentation on the basis of key parameters such as product type, power source, end users and the type of refrigerant used. The primary objective of the report is to offer key insights on market updates, competition positioning, current trends, market potential, growth rates and other relevant information and statistics in a suitable manner to the readers or various stakeholders of the market.

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Heat pumps are devices that utilise heat from low potential sources such as ground, water or air for heating or cooling purposes. Refrigerators and air conditioners are among the common examples of heat pumps. While these devices run on cooling cycles, heat pumps can operate on fully reversible cooling cycles as well.

The report is structured to facilitate the reader to develop a thorough understanding about the market. It begins with market definitions, followed by the market background, market dynamics and market analysis by key segments, regional analysis and competition landscape. Each section covers a qualitative and quantitative assessment of the market on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews and trends in the market.

Heat Pumps Market: Segmentation

Product Type End User Power Source Refrigerant Used Region
Ground Source Heat Pumps
Air-Air Heat Pumps
Air-Water Heat Pumps
Hybrid Heat Pumps
Hydro Fluoro-Carbon
North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excl. Japan
Middle East and Africa

The report begins with a market introduction, defining the market taxonomy and product definitions regarding the global heat pump market assessment. In the next section, the report describes the market development background, covering macro-economic factors, industry factors, product life stage and associated stages, forecast factors, regional weighted average pricing analysis, value chain overview covering approximate margins, an indicative list of stakeholders involved in each stage and an assessment of the installed base and replacement rate of heat pumps for the base year considered for the study.

The next section of the report discusses market dynamics such as drivers (supply and demand side), restraints and trends impacting the market growth at a global level. Market opportunities or potential for manufacturers have been presented in the subsequent section of the same chapter. This section also includes the impact assessment of market dynamics on the global heat pumps market at a qualitative level based on analysis facts and insights.

Subsequent sections of the report provide value (US$ Mn) and volume (New Sales in ‘000 Units) projections for the heat pumps market on the basis of the aforementioned segments at a global level. The global market values represented in these section have been agglomerated by collecting data and information at a regional level. The market information, along with key facts and insights, covers unique analysis frameworks such as absolute $ opportunity analysis, year-on-year growth trend comparison, market share and attractiveness analysis for each of the sub-types covered in each segment.

The next section of the report presents a summarised view of the global heat pumps market based on seven prominent regions considered in the study. The section includes the regional market position, growth potential, trends and market attractiveness analysis for each of these regions.

The market analysis sections cover regional trends, weighted average pricing analysis and market projections for each segment, including Y-o-Y growth trends, market share analysis, market attractiveness and incremental $ opportunity assessment. These sections analyse the degree to which the global drivers are influencing this market in each region.

All the above sections evaluate the present market scenario and growth prospects in the global heat pumps market, while the forecast presented in the sections assesses the market size in terms of volume and value.

In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the global heat pumps market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis, based on primary research, secondary research and our own analysis. However, forecasting the market in terms of various heat pump segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecast exercise.

In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the heat pumps market and identify the right opportunities available.

As previously highlighted, the heat pumps market is split into a number of sub-segments. All the heat pump sub-segments, in terms of product type and region, have been analysed on the basis of Basis Point Share (BPS) to understand each individual segment’s relative contribution to the market growth. This detailed level of information is important for the identification of various key trends witnessed in the heat pumps market.

Another key feature of this report is the analysis of all the key segments in the heat pumps market, sub-segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the heat pumps market.

In order to understand the key market segments in terms of the growth and installation of heat pumps across concerned regions, Future Market Insights has developed the attractiveness index, which will help providers to identify real market opportunities.

Table Of Content

1. Executive Summary

2. Market Introduction

3. Key Market Trends

4. Global Heat Pumps Market Demand Analysis 2015-2019 and Forecast, 2020-2030

4.1. Historical Market Volume (‘000 Units) Analysis, 2015-2019

4.2. Current and Future Market Volume (‘000 Units) Projections, 2020-2030

4.3. Y-o-Y Growth Trend Analysis

5. Global Heat Pumps Market Demand (in Value or Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030

5.1. Historical Market Value (US$ Mn) Analysis, 2015-2019

5.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030

5.2.1. Y-o-Y Growth Trend Analysis

5.2.2. Absolute $ Opportunity Analysis

6. Market Background

6.1. Forecast Factors – Relevance & Impact

6.2. Value Chain Analysis

7. Global Heat Pumps Market Analysis 2015-2019 and Forecast 2020-2030, by Type 

7.1. Introduction

7.2. Historical Market Size (US$ Mn) and Volume Analysis By Type, 2015-2019

7.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Type, 2020 – 2030

7.3.1. Air-water heat pump

7.3.2. Air-air heat pump

7.3.3. Ground Source heat pump

7.3.4. Hybrid heat pump

7.4. Market Attractiveness Analysis By Type

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In the final section of the report, a competitive landscape of the heat pumps market is included to provide report audiences with a dashboard view categorised on the basis of providers present in the value chain, their presence in the heat pumps market and key differentiating factors and strategies. The primary category of providers covered in the report includes heat pump manufacturers.

This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the heat pumps market. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors on the basis of the in-depth assessment of their capabilities and success in the heat pumps marketplace. Detailed profiles of the providers are also included in the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the heat pumps market. Examples of some of the key competitors covered in the report include Daikin Industries Limited, Danfoss Group Global, Glen Dimplex Group, Mitsubishi Electric Corporation, NIBE Group, Panasonic Corporation, Stiebel Eltron Group, The Bosch Group, United Technologies Corporation and Viessmann Group.

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