Air to air heat pump market is set to expand over 5% on account of its suitability across a wide range of properties and its ability to purify air
The global air source heat pump market, of late, has been witnessing robust growth prospects owing to various commendable initiatives that are being rolled out by numerous regulatory bodies and government agencies across the world. Apparently, the unprecedented rise of the ill-effects pertaining to carbon emissions has necessitated the wide-scale deployment of energy saving components such as air source heat pumps, predominantly across residential and commercial sites.
Furthermore, initiatives such as clean heating programs, incentive plans, and cooling programs have gained marked prominence which has eventually assisted the air source heat pump industry share to expand at a swift pace in the recent years.
Citing an instance of the rising significance of air source heat pumps in the energy-related policies of various states and nations, the New York State Energy Research and Development Authority has initiated an ambitious ‘Air Source Heat Pump’ program in 2017.
The initiative was aimed at reducing dependency on fossil fuels and integrate energy efficiency. Needless to mention, such initiatives have been altering the dynamics of the global air source heat pump market which garnered a remuneration portfolio of approximately USD 30 billion in the year 2017, as per a recently compiled research report by Global Market Insights, Inc.
Europe to emerge as the front-runner in global air source heat pump industry
The contribution of regional governments toward driving the profitability quotient of the air source heat pump market is indeed remarkable. The Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety of Germany, for instance, has put together a Renewable Energies Heat Act which aims to augment the share of renewable energy in heat provision to 14 percent by the year 2020.
As per authentic sources, the Act makes it mandatory to utilize renewable energy for requirements such as space and water heating in new residential sites.
Even though the act applies only to new buildings, specific policies can be formulated, and a fixed amount of budgetary fund can be allocated to expand the installation of air source heat pumps at the older residential sites as well. Apparently, building owners would be obliged to use a certain portion of renewable energy for water and space heating purposes in the newly constructed residential projects.
This instance goes on to demonstrate the immense growth potential of Germany air source heat pump industry, which is projected to surpass an annual installation base of about 65 thousand units by the year 2024.
Chapter 1 Methodology
1.2 Market definitions
1.3 Market estimation & forecast parameters
1.5 Data Sources
188.8.131.52 Paid Sources
184.108.40.206 Public Sources
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Chapter 2 Executive Summary
2.1 Air source heat pump market 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Region trends
Chapter 3 Air Source Heat Pump Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024 (USD Million)
3.3 Industry ecosystem analysis
3.3.1 Vendor Matrix
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