Europe Industrial Heat Pump Market 2022: Recent Developments & Emerging Trends To 2027
Intensifying government efforts to support adoption of energy efficient technologies in the industrial sector is expected to drive Europe industrial heat pump market outlook.
Intensifying government efforts to support adoption of energy efficient technologies in the industrial sector is expected to drive Europe industrial heat pump market outlook. Supervisory measures are been taken by the government towards energy optimization around industrial premises for reducing the cost of operation and emissions. The European Union has set forth strong goals regarding transition to a low carbon emissions society and sustainable energy by the end of 2050.
Rising investments in industrial infrastructure development and rigorous carbon emission rules across Europe may influence the industrial heat pump business stance in the coming years. As per a report published by Global Market Insights, Inc., the Europe industrial heat pump industry is predicted to witness annual installation of over 1,400 units by 2027.
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Danfoss, Thermax Limited, Emerson Electric Co., and Viessmann are some of the leading brands in the industrial heat pump landscape. The acceptance of heat pumps in the industry is currently impacted for certain reasons, one being presence of limited manufacturers in Europe for heat pump equipment that provide products that can supply higher temperatures as required by the industry.
Specifying few trends in the industrial heat pump market of Europe:
Requirement for large-scale space heating
Large-scale space heating requirement across residential and commercial establishments has instigated the need for industrial-scale district heating pumps in Europe. Government regulations regarding rising carbon footmark are one of the major factors contributing to market growth. There is also a budding requirement for clean systems with high energy efficiency and lower carbon footprint. Constantly fluctuating climatic conditions will augment the demand for effective space heating systems, thus thriving the business outlook for heat pumps manufacturers.
Presence of diverse industries across Germany
Industrial heat pumps are gaining traction across Germany owing to the presence of several intensive industries across the region like pulp, chemical, paper, food processing, and equipment manufacturing. For instance, in 2019, Germany accounted for nearly 30% of the industrial production in the EU-27 countries, as per Eurostat. Additionally, rising adoption of energy-efficient technologies for fulfilling district heating requirement may drive the demand for these units.
Rising demand for closed-cycle absorption heat pumps
Closed-cycle absorption heat pumps have the capability of delivering higher temperature lift by using two components of working fluid. Prominent features offered by these units like ability to be customized for combined cooling, constant energy performance even at higher temperature lifts, and heating applications will stimulate its adoption at a higher pace as compared to its substitute.
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These units can find application on account of its energy-efficient performance across district heating which will further drive the Europe industrial heat pump market growth from closed-cycle absorption heat pumps.
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