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Air Source Heat Pump Market report for 2017 – 2024 – companies, applications, products and more

The global Air Source Heat Pump Market share report provides numbers for applications and regional segments of the industry covering historical as wel
Amit singh | 05.03.2018
Favorable government initiatives including incentive plans, emissions reduction targets and clean heating and cooling program to promote the use of conventional HVAC unit, will drive the air source heat pump market size. In 2017, the New York State Energy Research and Development Authority established an “Air Source Heat Pump Program” to help the state to use renewable energy, save money, increase energy efficiency, and reduce reliance on fossil fuels.

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Increasing demand for energy efficient system to reduce electricity bills along with green building codes and standards will stimulate the ASHP market growth. In 2017, the U.S. government introduced a tax rebate for the residential and commercial sectors to support the adoption of energy efficient systems by 2021. Rising urbanization and industrialization coupled with increasing disposable income in the developing countries will further propel the business growth. In 2015, the World Bank has analyzed that more than 50% of the population of Asia Pacific was residing in urban areas which is more than the combined population of Europe and the U.S.

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Air to Air (ATA) heat pump market size is predicted to expand over 6% owing to its ability to purify air and its suitability for a wide range of properties. These systems can either be used as a stand-alone system or as an effective way of complementing existing conventional heating system, making its adoption suitable. ATA units are generally preferred over geothermal unit on account of its cost effectiveness and zero expenses requirement for ground works including boreholes.

Reduced energy consumption and environmental impact are some of the key features which will positively impact the Air to Water (ATW) heat pump market. These units deliver space cooling & heating as well as water heating solutions. Ongoing innovations across the industry to meet the increasing product demand will further fuel the business outlook. In 2017, Stiebel Eltron unveiled a new indoor air to water series for heating & cooling with power control: WPL, ideal indoor pump for low acoustic emission.

Reasons to Buy This Report:
1. Air Source Heat Pump Market size & share forecast by product & application 2017-2024
2. Growth drivers, pitfalls & industry challenges
3. Air Source Heat Pump Inverter Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
Residential ASHP market is set to grow on account of rising awareness to reduce energy bills and shifting trends toward improved living standards. Adoption of innovative technologies owing to the increasing disposable income of individuals will augment the product demand. Efforts toward improving air quality coupled with growing demand for high-level comfort will further drive the industry growth.

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The U.S. air source heat pump market is set to witness strong growth on account of growing concerns to curb carbon footprint along with introduction of government initiatives to promote the adoption of heat pumps. Increasing demand for space and water heating in the nation will further fuel the air source unit penetration. In 2016, as per the U.S.

Department of Energy (DOE), water heating across commercial buildings accounted for 4% of electricity consumption along with 18% for residential buildings.

Germany air source heat pump market size is predicted to exceed 60 thousand units by 2024. Increasing electricity prices along with climate change impacts will positively influence the industry landscape. The electricity prices in the country reached from USD 27.58 kWh in 2010 to USD 34.61 kWh in 2016. The German Renewable Energy Heating Act encourages all new commercial and residential buildings to adopt a sustainable heating scheme. On or after January 2016, new building construction will only be permitted if it uses energy generated from renewable sources for space and water heating.

Key players in air source heat pump market include Carrier, A.O. Smith, Mitsubishi Electric, NIBE, Daikin Industries, BDR Thermea Group, Fujitsu General, Johnson Controls, Bosch Thermotechnik, Colmac, Dimplex, LG Electronics, Panasonic, Climaveneta, Danfoss, Colmac, and Vaillant.

The leading industry players have extensively adhered to mergers and acquisition to justify and augment their market penetration. In February 2017, NIBE acquired 50% shares in the CGC Group of Companies to have an extra platform for the heat pumps for commercial applications in Canada and the U.S.

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