US$ 6.5 Bn Heat Pumps Market Driven by Strong Demand in Western Europe

VALLEY COTTAGE, New York, October 26, 2016 /PRNewswire/ --

Future Market Insights delivers key insights on the global heat pumps market in a new publication titled "Heat Pumps Market: Global Industry Analysis and Opportunity Assessment, 2016 - 2026". Global sales of heat pumps is estimated to be valued at US$ 6,491.7 Mn by the end of 2016, witnessing a Y-o-Y growth of 5.8% over 2015. Western Europe is estimated to account for a value share of 40.7% in the global heat pumps market by 2016 end but Asia Pacific excluding Japan (APEJ) is anticipated to gain a higher growth rate in later years of the forecast period. In this report, Future Market Insights analyses the factors and trends impacting the growth and performance of the global heat pumps market.

     (Logo: http://photos.prnewswire.com/prnh/20161020/430874LOGO )

Rapid growth of the global construction industry, along with a strict implementation of new environmental friendly buildings especially in China, Japan, United States, South Korea, and Europe is expected to drive the residential use of heat pumps in these regions. Countries such as United States, Japan, Australia, and the European Union are providing subsidies on the purchase of heat pumps in order to reduce their carbon footprint and be more conscious towards the environment by encouraging the use of renewable energy for heating and cooling. This is also a major driving factor for increase in the usage of heat pumps globally. However, high cost of installation of heat pumps and low public awareness about the benefits of heat pumps may act as restraints in the global heat pumps market.

Request a Sample Report with Table of Contents and Figures: http://www.futuremarketinsights.com/reports/sample/rep-gb-480

Segmentation highlights  

The global heat pumps market is segmented on the basis of product type (Ground Source Heat Pump, Air-air Heat Pump, Air-water Heat Pump, Hybrid Heat Pump); refrigerants (Hydro-fluorocarbon (HFC), Ammonia, CO2, Hydrocarbons, Others); power source (Electric, Others (Gas)); and end user (Residential, Commercial, Industrial).

• On the basis of product type, the air-water heat pumps segment is anticipated to continue to dominate the market in terms of value and volume over the forecast period, due to its strong demand from Western Europe and APEJ owing to large end-user residents and industries in these regions. However, air-water heat pumps face competition from geothermal and hybrid heat pumps that may urge high initial investments but serve better returns afterwards. The air-water heat pumps segment is anticipated to witness a robust growth and register a CAGR of 8.0% in terms of value over the forecast period.
• On the basis of power source, the electric power source heat pumps segment is anticipated to continue to dominate the market in terms of value and volume over the forecast period, owing to large availability and lower cost in most parts of the world. The electric power source heat pumps segment is anticipated to witness a substantial growth and register a CAGR of 7.2% in terms of value over the forecast period.
• On the basis of end-use, the residential segment is estimated to account for more than 55% value share of the global heat pumps market by 2016 end. This segment is expected to remain dominant over the forecast period and is anticipated to witness steady growth and register a significant CAGR in terms of value over the forecast period.

Preview Analysis on Global Heat Pumps Market Segmentation By Product Type - Ground Source Heat Pump, Air-air Heat Pump, Air-water Heat Pump, Hybrid Heat Pump; By Refrigerants - Hydro-fluorocarbon (HFC), Ammonia, CO2, Hydrocarbons; By Power Source - Electric, Others (Gas); By End User - Residential, Commercial, Industrial: http://www.futuremarketinsights.com/reports/heat-pumps-market

Regional market projections 

The global heat pumps market is segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa (MEA)). Western Europe is the largest market for heat pumps and is estimated to account for 40.7% share of the global heat pumps market in terms of value by 2016 end. Rapid growth of end-use industries such as residential and commercial buildings in APEJ and proactive government policies for energy and renewables is expected to drive revenue growth of the heat pumps market in the region over the forecast period.

Speak with Analyst for any Report Related Queries: http://www.futuremarketinsights.com/askus/rep-gb-480

Vendor insights 

Key players in the global heat pumps market include Danfoss Group Global, Viessmann Group, United Technologies Corporation, The Bosch Group, Panasonic Corporation, Mitsubishi Electric Corporation, Daikin Industries Ltd, Glen Dimplex Group, NIBE Group, and Stiebel Eltron Group.

More From FMI's Cutting-edge Intelligence: 

• Benelux Power Tools Market Segmentation By End-Use - Industrial Power Tools and Household Power Tools; By Mode of Operation - Electric, Pneumatic Power Tools; By Country - Belgium, Netherlands and Luxembourg: http://www.futuremarketinsights.com/reports/benelux-power-tools-market
• Sulphur Recovery Technology Market Segmentation By Technology - Claus Process, Tail Gas Treatment; By Source Of Recovery - Oil, Gas, Other: http://www.futuremarketinsights.com/reports/sulphur-recovery-technology-market
• Power Tools Market Forecast By Category - Power Tools and Hand Tools, By End-use sector-Industrial and Household; By Mode of Operation-Electric, Pneumatic & Others; By Region- North America, APEJ, Latin America, Western Europe, Eastern Europe, Middle East & Africa, Japan: http://www.futuremarketinsights.com/reports/power-tools-market

About Us 

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Browse More Industrial Automation & Equipment Market Insights: http://www.futuremarketinsights.com/reports/category/industrial-automation-equipment

Contact Us
616 Corporate Way, Suite 2-9018
Valley Cottage, NY 10989
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0) 20 7692 8790
Sales: sales@futuremarketinsights.com
Press@futuremrketinsights.com

Website: www.futuremarketinsights.com