Europe Air Source Heat Pump Market Trends Research6

Europe Air Source Heat Pump Market Trends Research And
Projections For 2022- 2030

The global Europe
air source heat pump market is slated to grow at a significant rate
through 2030, due to the growing adoption of heat pumps as a replacement for
oil boilers. The better level of energy efficiency offered by the product would
also push market expansion.

Key players in the industry have
been increasingly investing towards research and development efforts to
consolidate their market presence. Partnerships and collaborations among key
enterprises for overseas expansion are also proving beneficial for market
growth, these strategic partnerships are greatly helping industry players
expand their portfolio in the overseas market, improving industry dynamics in
the process.

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For instance, in May 2022, NIBE
Industrier AB, the Swedish heat technology solutions company inked an agreement
to acquire Italy-based Argoclima S.p.A., buying over 50% shares in the Italian
company, with plans to take over the remaining stake in five years.

By combining Argoclima's existing
line of heat pumps marketed under the Argo brand with the entire line of heat
pumps offered under the NIBE company, the takeover will give the latter a much
stronger position in the fast-expanding Italian market for heat pumps.

The Europe air source heat pump
market has been bifurcated in terms of product, application, and region.

Based on product, the industry
has been divided into air to air and air to water. The air-to-water segment is
expected to grow at a positive rate through the forecast period due to the
rising demand for hot water across the commercial and residential
infrastructure.

The air to air product segment is
slated to witness a significant rate expansion over the forecast timeframe,
registering a growth rate of more than 8 % by 2030.

With respect to application, the
Europe air source heat pump market has been classified into residential and
commercial.

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The commercial segment is
anticipated to garner a sturdy market expansion over the review timeline
attributed to the increasing energy and heat demand across a variety of
commercial uses, such as offices, healthcare, educational institutions, and
many others, along with stricter emission reduction standards, new programs to
strengthen building energy efficiency.

From the regional outlook, the
Denmark air source heat pump market is set to witness propelling growth through
2030 owing to the burgeoning inclination of the national government to lessen
the fossil fuel dependency as well as fuel the clean energy system deployment
in order to drive industry growth.

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Meanwhile, the Italy air source
heat pump industry is subjected to record a substantial growth rate over the
forthcoming years credited to the positive government incentive programs with
financial rewards and the rising national demand for efficient heating and
cooling systems.

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