LOS ANGELES, PUNE, India and LONDON, Feb. 4, 2019 /PRNewswire/ —
The dedicated team of research analysts in QY Research who are working in the domain of machinery and equipment has persistently worked and brought a new report on the global air source heat pump market for the readers. Titled, ‘Global Air Source Heath Pumps Market Insights, forecast to 2025,’ this report is one of a kind that takes deep dive to take an exhaustive look at the dynamics of the market.
According to the recently published report, the global market for air source health pump is expected to be valued at US$ 16.1 Bn by the end of 2025, registering a moderate CAGR of 5.68% during the projected period of 8-years, i.e. between 2017 and 2025. Although the growth rate for this market is steady, yet massive business growth can be witnessed due to the engagement of key manufacturers, particular from Japan and Europe.
Focus on Consuming Renewable Energy to Boost Global Air Source Heat Pumps Market
One of the significant reasons behind the moderate growth of the market is a rising focus on applying renewable energy systems for cooling as well as for heating homes. Air source heat pumps need lesser electricity than conventional cooling and heating systems. These pumps are even an alternative to a traditional domestic heating system like boilers. Another reason for air source heat pumps scoring more than other pumps such as geothermal heat pumps is they need lesser space and are not required expensive installation.
• Favorable government policies and regulations
• A noteworthy contribution of air source heat pumps in decreasing emission of CO2
• Increasing installation in applications such as industrial, commercial and residential
• The increasing use of air source heat pump in compressors and refrigerants
Air-to-water Segment to flow Rapidly in terms of Market Share by 2025 end
The global air source heat pumps market is segmented in types and application. The type segment is sub-segmented into air-to-water and air-to-air. At the beginning of the projection period, air-to-air showed remarkable growth by grabbing around more than 50% market share. However, the market scenario is expected to flip over the anticipated period and air-to-water segment is expected to capture more than 45% revenue share by 2025 end.
Application segment is sub-segmented into industrial, residential and commercial. In 2017, residential segment bagged more than 80% market share owing to the factors such as rising awareness among the population about the inexpensive installation of the system.
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Europe and Japan to Lead the Global Air Source Heat Pumps Market
In Europe, the market is booming with remarkable revenue share due to cutting edge technology such as the ability of the air source heat pumps systems to automatically adjust the temperature and its capacity of decreasing energy consumption. The market is expected to witness robust growth in Sweden and Italy. Due to an increasing commercial and industrial activities, Japan air source heat pumps market is anticipated to dominate the market during 2017-2025.
LG Electronics- One of the significant Player in the Global Air Source Heat Pumps Market
Viessmann, Daikin Industries, Ingersoll-Rand, Mitsubishi Electric, Ingersoll-Rand, Fujitsu General, A. O. Smith, Panasonic, Danfoss, Carrier, Bosch Thermotechnik, Bryant, NIBE, LG Electronics, Sanden International, lennox and Aermec are some of the key players operating in the global air source heat pumps market.
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With More Than 45 % Revenue Share, Air-to-Water Segment to Dominate the Global Air Source Health Pumps Market in 2025