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Heat Pumps Market

Heat Pumps Market: Western Europe to Remain Dominant Regional Market: Global Industry Analysis and Opportunity Assessment, 2016-2026

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Heat Pumps Market Introduction and Definition

Heat pumps are devices that utilise heat from low potential sources such as ground, water or air for heating or cooling purposes. Heat Pumps are considered to be an integral part of the refrigeration system. Heat pumps finds their share of consumption from two channels. First via installation of new heat pumps in refrigeration and second via replacement of the existing heat pump units. Heat pumps find profound use in all types of refrigeration systems, be it domestic, commercial or industrial in form of respective configurations. While these devices run on cooling cycles, heat pumps can operate on fully reversible cooling cycles as well. Heat pumps are generally gas- and electric-driven types of which the latter type has gained traction over the globe. The heat pumps market has been understood as a high value–high growth market growing at a continued pace at an upward trend over the forecast period.

An array of operating parameters are considered prior to procurement and installation of heat pumps which include initial cost of installation, operating cost per annum (energy expenditure incurred), maintenance and servicing cost per annum (which increases per year), tax credit and subsidies earned and efficiency rate. These aforementioned parameters are critical for the end users to select the desired heat pumps fulfilling their requirements. Also, technical education and training has been provided by heat pump manufacturers to the product distributors and suppliers as well as end users helping in awareness of use of heat pumps.

From the product life cycle of the identified types of heat pumps, air-to-air based heat pumps has been foremost introduced in the market which is now the most adopted air source heat pumps. The segment is considered to be in the advanced stages of growth. The air-to-water based heat pumps is considered to be in a relatively early stage of growth, whereas the ground source heat pump is in the later growth stage of the product life cycle however at a lower level of growth than air-to-air based heat pumps.

Factors Influencing the Growth of the Global Heat Pumps Market

The global heat pumps market has rode on the growth of the refrigeration systems and equipment market in the last decade, which is expected to witness robust growth over the forecast period. The rising urbanisation across developing regions of the globe has also been responsible for the use of heat pumps in required refrigeration equipment and systems in commercial and residential applications. The growth of the heat pumps market can also be attributed to specific product life cycle and subsequent replacement rate. Since its inception, the global heat pumps market has undergone chronological developments with respect to its design and configuration to evolve into high-efficiency operating units. Global demand for heat pumps is directly proportional to infrastructure development activities. Governments of developing countries such as India and China are focusing on urbanization, which in turn is anticipated to fuel demand for heat pumps. Another reason for growing demand for heat pumps is due to eco-friendly devices worldwide which is directly proportional to the global heat pumps demand, as heat pumps are very useful in reducing CO2 emission. It uses only ¼ electrical energy and ¾ environmental energy.

The prominent regions aiding the growth of the global heat pumps market are Asia Pacific excluding Japan and Europe owing to significant degree of installed base and the potential demand by end-use sectors in the region. North and Latin America, Japan, and the Middle East and Africa are expected to witness moderate growth of heat pumps in their respective regions during the forecast period owing to limited demand as well as near fulfilment of present requirements.

Global Heat Pumps Market Segmentation and Forecast

On the basis of product type, the air-to-water heat pumps has been considered as the dominant segment in terms of heat pumps market value share and growth. However, the growth of the hybrid heat pumps segment is expected to outpace its growth over the forecast period where the segment is currently in its initial stage of growth. In terms of refrigerant type, the heat pumps market is expected to be driven mainly by the HFC segment. However, due to regulations for the use of HFC-based refrigerants in the recent times, the use of CO2-based refrigerant is expected to increase at a rapid pace during the forecast period. By power source, the electric-driven heat pumps is poised to emerge as the dominant segment over the forecast period. On the basis of end use, the residential segment is estimated to register significant growth in utilization of heat pumps over its counterparts during the forecast period. This is due to the fact of a higher volume of refrigeration units sold in the residential segment thus imbibing a proficient share of heat pumps.

Overall, the global heat pumps market is expected to grow at a CAGR of 7.1% in terms of value by the end of the forecast period. The varied climatic conditions around the globe also play an important in consumption of respective types of heat pumps. For e.g. The overall climatic condition in Western and Eastern Europe makes it best suited for air source heat pumps, while geothermal and hybrid type are better suited for Nordic region. Apart from North America, Western Europe and Japan, the global heat pumps market is rapidly growing in APEJ in countries such as China (the largest market for heating and cooling systems in the region), India, Indonesia, Malaysia and the Philippines. Demand for eco-friendly heating and cooling systems in these countries is expected to increase at a significant rate in the near future, further driving growth of the market for heat pumps.  In India, South Korea, Brazil, South Africa and ASEAN countries, heat pumps are currently mostly used in industrial or commercial sectors and to a small extent in residential sector, therefore market penetration for heat pumps in these countries is low. This provides opportunities for heat pumps suppliers to optimise their profit margins.

heat pumps market

Participants in the Global Heat Pumps Market

Examples of some of the participants involved in the production and sale of heat pumps include Viessmann Group, Glen Dimplex Group, Mitsubishi Electric Corporation, NIBE Group, Panasonic Corporation, Stiebel Eltron Group, The Bosch Group, United Technologies Corporation and Daikin Industries Limited. The chief strategies followed by the market participants in the development of global heat pumps market has been aggressive marketing and product (heat pumps) awareness programs for the end users, refrigeration OEMs and distributors as well as strategic collaborations with other enterprises to expand the business operations and sales footprint. For e.g. leading heat pumps manufacturer Viesmann Group in 2016, collaborated with Jaske & Wolf Verfahrenstechnik GmbH, a leading manufacturer and supplier of heat and waste water solution to provide heat recovery product to enhance its product offering of heat pumps and expand its geographical footprint in Europe. In 2016, the company also collaborated with KKE GmbH—a specialist in refrigeration, air conditioning, and power engineering—to cater to increasing demand for HVAC system for the food and retail industry hence augmenting the sales prospect of heat pumps. In 2016, Danfoss Group acquired Sondex Holdings A/S and DAF Energy to strengthen its position in the heating and cooling market with respect to sales of heat pumps.

This FMI study offers a ten-year analysis and forecast of the global heat pumps market between 2016 and 2026. The study considers 2015 as the base year with market values estimated for the year 2016 and a forecast developed for the duration of 2017 to 2026. Compound Average Growth Rate (CAGR) is represented from 2016 to 2026. The study covers various perspectives of the market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global heat pumps market is projected to grow at a CAGR of 7% between 2016 and 2026 in terms of value. Growing environmental concerns, supportive policy frameworks and reasonable costs of operations are some of the factors positively impacting the uptake of the heat pumps in the global market.

The Future Market Insights report on heat pumps carefully analyses the market at a global and regional level through market segmentation on the basis of key parameters such as product type, power source, end users and the type of refrigerant used. The primary objective of the report is to offer key insights on market updates, competition positioning, current trends, market potential, growth rates and other relevant information and statistics in a suitable manner to the readers or various stakeholders of the market.

Heat pumps are devices that utilise heat from low potential sources such as ground, water or air for heating or cooling purposes. Refrigerators and air conditioners are among the common examples of heat pumps. While these devices run on cooling cycles, heat pumps can operate on fully reversible cooling cycles as well.

The report is structured to facilitate the reader to develop a thorough understanding about the market. It begins with market definitions, followed by the market background, market dynamics and market analysis by key segments, regional analysis and competition landscape. Each section covers a qualitative and quantitative assessment of the market on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews and trends in the market.

Heat Pumps Market: Segmentation

Product Type

End User

Power Source

Refrigerant Used

Region

  • Ground Source Heat Pumps

  • Air-Air Heat Pumps

  • Air-Water Heat Pumps

  • Hybrid Heat Pumps

  • Residential

  • Commercial

  • Industrial

  • Electric

  • Unconventional

  • Hydro Fluoro-Carbon

  • Ammonia

  • CO2

  • Hydrocarbons

  • Others

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • Asia Pacific Excl. Japan

  • Middle East and Africa

  • Japan

 

The report begins with a market introduction, defining the market taxonomy and product definitions regarding the global heat pump market assessment. In the next section, the report describes the market development background, covering macro-economic factors, industry factors, product life stage and associated stages, forecast factors, regional weighted average pricing analysis, value chain overview covering approximate margins, an indicative list of stakeholders involved in each stage and an assessment of the installed base and replacement rate of heat pumps for the base year considered for the study.

The next section of the report discusses market dynamics such as drivers (supply and demand side), restraints and trends impacting the market growth at a global level. Market opportunities or potential for manufacturers have been presented in the subsequent section of the same chapter. This section also includes the impact assessment of market dynamics on the global heat pumps market at a qualitative level based on analysis facts and insights.

Subsequent sections of the report provide value (US$ Mn) and volume (New Sales in ‘000 Units) projections for the heat pumps market on the basis of the aforementioned segments at a global level. The global market values represented in these section have been agglomerated by collecting data and information at a regional level. The market information, along with key facts and insights, covers unique analysis frameworks such as absolute $ opportunity analysis, year-on-year growth trend comparison, market share and attractiveness analysis for each of the sub-types covered in each segment.

The next section of the report presents a summarised view of the global heat pumps market based on seven prominent regions considered in the study. The section includes the regional market position, growth potential, trends and market attractiveness analysis for each of these regions.

The market analysis sections cover regional trends, weighted average pricing analysis and market projections for each segment, including Y-o-Y growth trends, market share analysis, market attractiveness and incremental $ opportunity assessment. These sections analyse the degree to which the global drivers are influencing this market in each region.

All the above sections evaluate the present market scenario and growth prospects in the global heat pumps market, while the forecast presented in the sections assesses the market size in terms of volume and value.

In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the global heat pumps market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis, based on primary research, secondary research and our own analysis. However, forecasting the market in terms of various heat pump segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecast exercise.

In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the heat pumps market and identify the right opportunities available.

As previously highlighted, the heat pumps market is split into a number of sub-segments. All the heat pump sub-segments, in terms of product type and region, have been analysed on the basis of Basis Point Share (BPS) to understand each individual segment’s relative contribution to the market growth. This detailed level of information is important for the identification of various key trends witnessed in the heat pumps market.  

Another key feature of this report is the analysis of all the key segments in the heat pumps market, sub-segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the heat pumps market.

In order to understand the key market segments in terms of the growth and installation of heat pumps across concerned regions, Future Market Insights has developed the attractiveness index, which will help providers to identify real market opportunities.

In the final section of the report, a competitive landscape of the heat pumps market is included to provide report audiences with a dashboard view categorised on the basis of providers present in the value chain, their presence in the heat pumps market and key differentiating factors and strategies. The primary category of providers covered in the report includes heat pump manufacturers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the heat pumps market. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors on the basis of the in-depth assessment of their capabilities and success in the heat pumps marketplace. Detailed profiles of the providers are also included in the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the heat pumps market. Examples of some of the key competitors covered in the report include Daikin Industries Limited, Danfoss Group Global, Glen Dimplex Group, Mitsubishi Electric Corporation, NIBE Group, Panasonic Corporation, Stiebel Eltron Group, The Bosch Group, United Technologies Corporation and Viessmann Group.

Heat Pumps Market Reports - Table of Contents

1. Executive Summary

2. Market Introduction

    2.1. Market Definition

    2.2. Market Taxonomy

3. Global Heat Pumps Market Analysis Scenario

    3.1. Market Volume Analysis

        3.1.1. Installed Base By Region

        3.1.2. Replacement Rate and Lifecycle Analysis

    3.2. Pricing Analysis

        3.2.1. Pricing Assumptions

        3.2.2. Price Projections Per Region

    3.3. Market Size (US$ Mn) and Forecast

        3.3.1. Market Size and Y-o-Y Growth

        3.3.2. Absolute $ Opportunity

    3.4. Market Overview

        3.4.1. Value Chain

        3.4.2. Profitability Margins

        3.4.3. List of Active Participants

            3.4.3.1. Component Suppliers

            3.4.3.2. Manufacturers

            3.4.3.3. Distributors / Retailers

            3.4.3.4. MRO Service Providers

    3.5. Type  - Cost Teardown Analysis

4. Market Dynamics

    4.1. Macro-economic Factors

    4.2. Drivers

        4.2.1. Supply Side

        4.2.2. Demand Side

    4.3. Restraints

    4.4. Opportunity

    4.5. Forecast Factors - Relevance and Impact

5. Global Heat Pumps Market Analysis and Forecasts, By Product Type

    5.1. Introduction

    5.2. Basis Point Share (BPS) Analysis By Type

    5.3. Y-o-Y Growth Projections By Type

    5.4. Market Value and Volume Forecast By Type

        5.4.1. Ground source heat pump

        5.4.2. Air-air heat pump

        5.4.3. Air-water heat pump

        5.4.4. Hybrid heat pump

    5.5. Market Attractiveness Analysis By Type

    5.6. Prominent Trends

6. Global Heat Pumps Market Analysis and Forecasts, By Refrigerant used

    6.1. Introduction

    6.2. Basis Point Share (BPS) Analysis By Refrigerant used

    6.3. Y-o-Y Growth Projections By Refrigerant used

    6.4. Market Value and Volume Forecast By Refrigerant used

        6.4.1. Hydro Fluoro-Carbon

        6.4.2. Ammonia

        6.4.3. CO2

        6.4.4. Hydrocarbon

        6.4.5. Others

    6.5. Market Attractiveness Analysis By Refrigerant used

    6.6. Prominent Trends

7. Global Heat Pumps Market Analysis and Forecasts, By Power Source

    7.1. Introduction

    7.2. Basis Point Share (BPS) Analysis By Power Source 

    7.3. Y-o-Y Growth Projections By Power Source 

    7.4. Market Value and Volume Forecast By Power Source

        7.4.1. Electric Power Source

        7.4.2. Other Power Source

    7.5. Market Attractiveness Analysis By Power Source

    7.6. Prominent Trends

8. Global Heat Pumps Market Analysis and Forecasts, By End User

    8.1. Introduction

    8.2. Basis Point Share (BPS) Analysis By End User

    8.3. Y-o-Y Growth Projections By End User 

    8.4. Market Value and Volume Forecast By End User

        8.4.1. Residential 

        8.4.2. Commercial

        8.4.3. Industrial

    8.5. Market Attractiveness Analysis By Power Source

    8.6. Prominent Trends

9. Global Heat Pumps Market Analysis and Forecasts, By Region 

    9.1. Introduction

        9.1.1. Basis Point Share (BPS) Analysis By Region

        9.1.2. Y-o-Y Growth Projections By Region

    9.2. Market Value and Volume Forecast By Region

        9.2.1. North America

        9.2.2. Western Europe

        9.2.3. Asia Pacific Excluding Japan

        9.2.4. Eastern Europe

        9.2.5. Latin America 

        9.2.6. Middle East and Africa

        9.2.7. Japan

    9.3. Market Attractiveness Analysis By  Region

    9.4. Key Regulation

10. North America Heat Pump Market Analysis and Forecast

    10.1. Introduction

        10.1.1. Basis Point Share (BPS) Analysis By Country 

        10.1.2. Y-o-Y Growth Projections By Country 

        10.1.3. Market Attractiveness Analysis By Country

    10.2. North America Heat Pump Market Value and Volume Forecast By Country

        10.2.1. U.S.

        10.2.2. Canada

    10.3. North America Heat Pump Market Analysis Product Type

        10.3.1. Basis Point Share (BPS) Analysis 

        10.3.2. Market Attractiveness Analysis 

    10.4. North America Heat Pump Market Value and Volume  Forecast By Product Type

        10.4.1. Ground source heat pump

        10.4.2. Air-air heat pump

        10.4.3. Air-water heat pump

        10.4.4. Hybrid heat pump

    10.5. North America Heat Pump Market Analysis By Refrigerant Used

        10.5.1. Basis Point Share (BPS) Analysis 

        10.5.2. Market Attractiveness Analysis 

    10.6. North America Heat Pump Market Value and Volume  Forecast By Refrigerant Used

        10.6.1. Hydro Fluoro-Carbon

        10.6.2. Ammonia

        10.6.3. CO2

        10.6.4. Hydrocarbon

        10.6.5. Others

    10.7. North America Heat Pump Market Analysis By Power Source

        10.7.1. Basis Point Share (BPS) Analysis 

        10.7.2. Market Attractiveness Analysis 

    10.8. North America Heat Pump Market Value and Volume  Forecast By Power Source

        10.8.1. Electric Power Source

        10.8.2. Other Power Source

    10.9. North America Heat Pump Market Analysis By End User

        10.9.1. Basis Point Share (BPS) Analysis 

        10.9.2. Market Attractiveness Analysis 

    10.10. North America Heat Pump Market Value and Volume  Forecast By End User

        10.10.1. Residential 

        10.10.2. Commercial

        10.10.3. Industrial

    10.11. North America Heat Pump Market Trend

11. Western Europe  Heat Pump Market Analysis and Forecast

    11.1. Introduction

        11.1.1. Basis Point Share (BPS) Analysis By Country 

        11.1.2. Y-o-Y Growth Projections By Country 

        11.1.3. Market Attractiveness Analysis By Country

    11.2. Western Europe Heat Pump Market Value and Volume Forecast By Country

        11.2.1. Germany

        11.2.2. Italy

        11.2.3. France

        11.2.4. U.K.

        11.2.5. Spain

        11.2.6. Rest of Western Europe

    11.3. Western Europe Heat Pump Market Analysis Product Type

        11.3.1. Basis Point Share (BPS) Analysis 

        11.3.2. Market Attractiveness Analysis 

    11.4. Western Europe Heat Pump Market Value and Volume  Forecast By Product Type

        11.4.1. Ground source heat pump

        11.4.2. Air-air heat pump

        11.4.3. Air-water heat pump

        11.4.4. Hybrid heat pump

    11.5. Western Europe Heat Pump Market Analysis By Refrigerant Used

        11.5.1. Basis Point Share (BPS) Analysis 

        11.5.2. Market Attractiveness Analysis 

    11.6. Western Europe Heat Pump Market Value and Volume  Forecast By Refrigerant Used

        11.6.1. Hydro Fluoro-Carbon

        11.6.2. Ammonia

        11.6.3. CO2

        11.6.4. Hydrocarbon

        11.6.5. Others

    11.7. Western Europe Heat Pump Market Analysis By Power Source

        11.7.1. Basis Point Share (BPS) Analysis 

        11.7.2. Market Attractiveness Analysis 

    11.8. Western Europe Heat Pump Market Value and Volume  Forecast By Power Source

        11.8.1. Electric Power Source

        11.8.2. Other Power Source

    11.9. Western Europe Heat Pump Market Analysis By End User

        11.9.1. Basis Point Share (BPS) Analysis 

        11.9.2. Market Attractiveness Analysis 

    11.10. Western Europe Heat Pump Market Value and Volume  Forecast By End User

        11.10.1. Residential 

        11.10.2. Commercial

        11.10.3. Industrial

    11.11. Western Europe Heat Pump Market Trend

12. Asia Pacific Excl. Japan (APEJ) Heat Pump Market Analysis and Forecast

    12.1. Introduction

        12.1.1. Basis Point Share (BPS) Analysis By Country 

        12.1.2. Y-o-Y Growth Projections By Country 

        12.1.3. Market Attractiveness Analysis By Country

    12.2. APEJ Heat Pump Market Value and Volume Forecast By Country

        12.2.1. China

        12.2.2. India

        12.2.3. Australia and New Zealand 

        12.2.4. Rest of APEJ

    12.3. APEJ Heat Pump Market Analysis Product Type

        12.3.1. Basis Point Share (BPS) Analysis 

        12.3.2. Market Attractiveness Analysis 

    12.4. APEJ Heat Pump Market Value and Volume  Forecast By Product Type

        12.4.1. Ground source heat pump

        12.4.2. Air-air heat pump

        12.4.3. Air-water heat pump

        12.4.4. Hybrid heat pump

    12.5. APEJ Heat Pump Market Analysis By Refrigerant Used

        12.5.1. Basis Point Share (BPS) Analysis 

        12.5.2. Market Attractiveness Analysis 

    12.6. APEJ Heat Pump Market Value and Volume  Forecast By Refrigerant Used

        12.6.1. Hydro Fluoro-Carbon

        12.6.2. Ammonia

        12.6.3. CO2

        12.6.4. Hydrocarbon

        12.6.5. Others

    12.7. APEJ Heat Pump Market Analysis By Power Source

        12.7.1. Basis Point Share (BPS) Analysis 

        12.7.2. Market Attractiveness Analysis 

    12.8. APEJ Heat Pump Market Value and Volume  Forecast By Power Source

        12.8.1. Electric Power Source

        12.8.2. Other Power Source

    12.9. APEJ Heat Pump Market Analysis By End User

        12.9.1. Basis Point Share (BPS) Analysis 

        12.9.2. Market Attractiveness Analysis 

    12.10. APEJ Heat Pump Market Value and Volume  Forecast By End User

        12.10.1. Residential 

        12.10.2. Commercial

        12.10.3. Industrial

    12.11. APEJ Heat Pump Market Trend

13. Eastern Europe Heat Pump Market Analysis and Forecast

    13.1. Introduction

        13.1.1. Basis Point Share (BPS) Analysis By Country 

        13.1.2. Y-o-Y Growth Projections By Country 

        13.1.3. Market Attractiveness Analysis By Country

    13.2. Eastern Europe Heat Pump Market Value and Volume Forecast By Country

        13.2.1. Russia

        13.2.2. Poland

        13.2.3. Rest of Eastern Europe

    13.3. Eastern Europe Heat Pump Market Analysis Product Type

        13.3.1. Basis Point Share (BPS) Analysis 

        13.3.2. Market Attractiveness Analysis 

    13.4. Eastern Europe Heat Pump Market Value and Volume  Forecast By Product Type

        13.4.1. Ground source heat pump

        13.4.2. Air-air heat pump

        13.4.3. Air-water heat pump

        13.4.4. Hybrid heat pump

    13.5. Eastern Europe Heat Pump Market Analysis By Refrigerant Used

        13.5.1. Basis Point Share (BPS) Analysis 

        13.5.2. Market Attractiveness Analysis 

    13.6. Eastern Europe Heat Pump Market Value and Volume  Forecast By Refrigerant Used

        13.6.1. Hydro Fluoro-Carbon

        13.6.2. Ammonia

        13.6.3. CO2

        13.6.4. Hydrocarbon

        13.6.5. Others

    13.7. Eastern Europe Heat Pump Market Analysis By Power Source

        13.7.1. Basis Point Share (BPS) Analysis 

        13.7.2. Market Attractiveness Analysis 

    13.8. Eastern Europe Heat Pump Market Value and Volume  Forecast By Power Source

        13.8.1. Electric Power Source

        13.8.2. Other Power Source

    13.9. Eastern Europe Heat Pump Market Analysis By End User

        13.9.1. Basis Point Share (BPS) Analysis 

        13.9.2. Market Attractiveness Analysis 

    13.10. Eastern Europe Heat Pump Market Value and Volume  Forecast By End User

        13.10.1. Residential 

        13.10.2. Commercial

        13.10.3. Industrial

    13.11. Eastern Europe Heat Pump Market Trend

14. Latin America Heat Pump Market Analysis and Forecast

    14.1. Introduction

        14.1.1. Basis Point Share (BPS) Analysis By Country 

        14.1.2. Y-o-Y Growth Projections By Country 

        14.1.3. Market Attractiveness Analysis By Country

    14.2. Latin America Heat Pump Market Value and Volume Forecast By Country

        14.2.1. Brazil

        14.2.2. Mexico

        14.2.3. Rest of Latin America

    14.3. Latin America Heat Pump Market Analysis Product Type

        14.3.1. Basis Point Share (BPS) Analysis 

        14.3.2. Market Attractiveness Analysis 

    14.4. Latin America Heat Pump Market Value and Volume  Forecast By Product Type

        14.4.1. Ground source heat pump

        14.4.2. Air-air heat pump

        14.4.3. Air-water heat pump

        14.4.4. Hybrid heat pump

    14.5. Latin America Heat Pump Market Analysis By Refrigerant Used

        14.5.1. Basis Point Share (BPS) Analysis 

        14.5.2. Market Attractiveness Analysis 

    14.6. Latin America Heat Pump Market Value and Volume  Forecast By Refrigerant Used

        14.6.1. Hydro Fluoro-Carbon

        14.6.2. Ammonia

        14.6.3. CO2

        14.6.4. Hydrocarbon

        14.6.5. Others

    14.7. Latin America Heat Pump Market Analysis By Power Source

        14.7.1. Basis Point Share (BPS) Analysis 

        14.7.2. Market Attractiveness Analysis 

    14.8. Latin America Heat Pump Market Value and Volume  Forecast By Power Source

        14.8.1. Electric Power Source

        14.8.2. Other Power Source

    14.9. Latin America Heat Pump Market Analysis By End User

        14.9.1. Basis Point Share (BPS) Analysis 

        14.9.2. Market Attractiveness Analysis 

    14.10. Latin America Heat Pump Market Value and Volume  Forecast By End User

        14.10.1. Residential 

        14.10.2. Commercial

        14.10.3. Industrial

    14.11. Latin America Heat Pump Market Trend

15. Middle East and Africa (MEA)  Heat Pump Market Analysis and Forecast

    15.1. Introduction

        15.1.1. Basis Point Share (BPS) Analysis By Country 

        15.1.2. Y-o-Y Growth Projections By Country 

        15.1.3. Market Attractiveness Analysis By Country

    15.2. MEA Heat Pump Market Value and Volume Forecast By Country

        15.2.1. Turkey

        15.2.2. South Africa

        15.2.3. Rest of MEA

    15.3. MEA Heat Pump Market Analysis Product Type

        15.3.1. Basis Point Share (BPS) Analysis 

        15.3.2. Market Attractiveness Analysis 

    15.4. MEA Heat Pump Market Value and Volume  Forecast By Product Type

        15.4.1. Ground source heat pump

        15.4.2. Air-air heat pump

        15.4.3. Air-water heat pump

        15.4.4. Hybrid heat pump

    15.5. MEA Heat Pump Market Analysis By Refrigerant Used

        15.5.1. Basis Point Share (BPS) Analysis 

        15.5.2. Market Attractiveness Analysis 

    15.6. MEA Heat Pump Market Value and Volume  Forecast By Refrigerant Used

        15.6.1. Hydro Fluoro-Carbon

        15.6.2. Ammonia

        15.6.3. CO2

        15.6.4. Hydrocarbon

        15.6.5. Others

    15.7. MEA Heat Pump Market Analysis By Power Source

        15.7.1. Basis Point Share (BPS) Analysis 

        15.7.2. Market Attractiveness Analysis 

    15.8. MEA Heat Pump Market Value and Volume  Forecast By Power Source

        15.8.1. Electric Power Source

        15.8.2. Other Power Source

    15.9. MEA Heat Pump Market Analysis By End User

        15.9.1. Basis Point Share (BPS) Analysis 

        15.9.2. Market Attractiveness Analysis 

    15.10. MEA Heat Pump Market Value and Volume  Forecast By End User

        15.10.1. Residential 

        15.10.2. Commercial

        15.10.3. Industrial

    15.11. MEA Heat Pump Market Trend

16. Japan Heat Pump Market Analysis and Forecast

    16.1. Introduction

    16.2. Japan Heat Pump Market Analysis Product Type

        16.2.1. Basis Point Share (BPS) Analysis 

        16.2.2. Market Attractiveness Analysis 

    16.3. Japan Heat Pump Market Value and Volume  Forecast By Product Type

        16.3.1. Ground source heat pump

        16.3.2. Air-air heat pump

        16.3.3. Air-water heat pump

        16.3.4. Hybrid heat pump

    16.4. Japan Heat Pump Market Analysis By Refrigerant Used

        16.4.1. Basis Point Share (BPS) Analysis 

        16.4.2. Market Attractiveness Analysis 

    16.5. Japan Heat Pump Market Value and Volume  Forecast By Refrigerant Used

        16.5.1. Hydro Fluoro-Carbon

        16.5.2. Ammonia

        16.5.3. CO2

        16.5.4. Hydrocarbon

        16.5.5. Others

    16.6. Japan Heat Pump Market Analysis By Power Source

        16.6.1. Basis Point Share (BPS) Analysis 

        16.6.2. Market Attractiveness Analysis 

    16.7. Japan Heat Pump Market Value and Volume  Forecast By Power Source

        16.7.1. Electric Power Source

        16.7.2. Other Power Source

    16.8. Japan Heat Pump Market Analysis By End User

        16.8.1. Basis Point Share (BPS) Analysis 

        16.8.2. Market Attractiveness Analysis 

    16.9. Japan Heat Pump Market Value and Volume  Forecast By End User

        16.9.1. Residential 

        16.9.2. Commercial

        16.9.3. Industrial

    16.10. Japan Heat Pump Market Trend

17. Competition Landscape

    17.1. Competition Dashboard

    17.2. Market Share Analysis Methodology 

    17.3. Company Market Share Analysis

    17.4. Company Profiles (Details - Overview, Financials, Strategy, Recent Development)

        17.4.1. Viessmann Group

        17.4.2. Danfoss Group Global

        17.4.3. United Technologies Corporation

        17.4.4. Glen Dimplex Group

        17.4.5. Stiebel Eltron Group

        17.4.6. The Bosch Group 

        17.4.7. Panasonic Corporation

        17.4.8. Mitsubishi Electric Corporation

        17.4.9. NIBE Group

        17.4.10. Daikin Industries Limited

18. Assumption and Acronyms Used

19. Research Methodology

Heat Pumps Market Reports - List of Tables

  1. Global Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Product Type, 2015–2026

  2. Global Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Refrigerant Used, 2015–2026

  3. Global Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Power Source, 2015–2026

  4. Global Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By End User, 2015–2026

  5. Global Heat Pumps Market Volume (‘000 Units) By Region, 2015–2026

  6. Global Heat Pumps Market Value (US$ Mn) By Region, 2015–2026

  7. North America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Country, 2015–2026

  8. North America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Product Type, 2015–2026

  9. North America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Refrigerant Used, 2015–2026

  10. North America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Power Source, 2015–2026

  11. North America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By End User, 2015–2026

  12. Western Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Country, 2015–2026

  13. Western Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Product Type, 2015–2026

  14. Western Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Refrigerant Used, 2015–2026

  15. Western Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Power Source, 2015–2026

  16. Western Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By End User, 2015–2026

  17. APEJ Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Country, 2015–2026

  18. APEJ Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Product Type, 2015–2026

  19. APEJ Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Refrigerant Used, 2015–2026

  20. APEJ Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Power Source, 2015–2026

  21. APEJ Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By End User, 2015–2026

  22. Eastern Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Country, 2015–2026

  23. Eastern Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Product Type, 2015–2026

  24. Eastern Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Refrigerant Used, 2015–2026

  25. Eastern Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Power Source, 2015–2026

  26. Eastern Europe Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By End User, 2015–2026

  27. Latin America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Country, 2015–2026

  28. Latin America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Product Type, 2015–2026

  29. Latin America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Refrigerant Used, 2015–2026

  30. Latin America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Power Source, 2015–2026

  31. Latin America Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By End User, 2015–2026

  32. MEA Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Country, 2015–2026

  33. MEA Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Product Type, 2015–2026

  34. MEA Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Refrigerant Used, 2015–2026

  35. MEA Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Power Source, 2015–2026

  36. MEA Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By End User, 2015–2026

  37. Japan Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Product Type, 2015–2026

  38. Japan Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Refrigerant Used, 2015–2026

  39. Japan Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By Power Source, 2015–2026

  40. Japan Heat Pumps Market Value (US$ Mn) and Volume ('000 Units) Forecast By End User, 2015–2026

Heat Pumps Market Reports - List of Figures

  1. Global Heat Pumps Market Volume (‘000 Units) and Value (US$ Mn) Forecast, 2015–2026

  2. Global Heat Pumps Market Absolute $ Opportunity Analysis, 2015–2026

  3. Global Heat Pumps Market Value Y-o-Y Growth Projections, 2015–2026

  4. Product Cost Teardown Analysis of Air Source heat pump

  5. Product Cost Teardown Analysis of Ground Source Heat pump

  6. Product Cost Teardown Analysis, Hybrid 

  7. Global Building and Construction Market Revenue, 2013–2020 (US$ Bn)

  8. Global Heat Pumps Market, BPS Analysis, By Product Type, 2016 and 2026

  9. Global Heat Pumps Market, Y-o-Y Growth Comparison, By Product Type, 2015–2026

  10. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Ground Source Heat Pump Segment, 2015–2026

  11. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Air-Air Heat Pump Segment, 2015–2026

  12. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Air-Water Heat Pump Segment, 2015–2026

  13. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Hybrid Pump Segment, 2015–2026

  14. Global Heat Pumps Market Attractiveness Analysis, By Product Type (2016–2026)

  15. Global Heat Pumps Market, BPS Analysis, By Refrigerant Used, 2016 and 2026

  16. Global Heat Pumps Market, Y-o-Y Growth Comparison, By Refrigerant Used, 2015–2026

  17. Global Heat Pumps Market, Absolute $ Opportunity Assessment by HFC Refrigerant Segment, 2015–2026

  18. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Ammonia Refrigerant Segment, 2015–2026

  19. Global Heat Pumps Market, Absolute $ Opportunity Assessment by CO2 Refrigerant Segment, 2015–2026

  20. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Hydrocarbon Refrigerant Segment, 2015–2026

  21. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Other Refrigerant Segment, 2015–2026

  22. Global Heat Pumps Market Attractiveness Analysis, by Refrigerant Used (2016–2026)

  23. Global Heat Pumps Market, BPS Analysis, by Power Source, 2016 and 2026

  24. Global Heat Pumps Market, Y-o-Y Growth Comparison, by Power Source, 2015–2026

  25. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Electric Power Source Segment, 2015–2026

  26. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Other Power Source Segment, 2015–2026

  27. Global Heat Pumps Market Attractiveness Analysis, by Power Source (2016–2026)

  28. Global Heat Pumps Market, BPS Analysis, by End User, 2016 and 2026

  29. Global Heat Pumps Market, Y-o-Y Growth Comparison, by End User, 2015–2026

  30. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Residential End User Segment, 2015–2026

  31. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Commercial End User Segment, 2015–2026

  32. Global Heat Pumps Market, Absolute $ Opportunity Assessment by Industrial End User Segment, 2015–2026

  33. Global Heat Pumps Market Attractiveness Analysis, by End User (2016–2026)

  34. Global Heat Pumps Market, BPS Analysis, by Region, 2016 and 2026

  35. Global Heat Pumps Market, Y-o-Y Growth Comparison, by Region, 2015–2026

  36. North America Heat Pumps Market, Absolute $ Opportunity Assessment, 2015–2026

  37. Western Europe Heat Pumps Market, Absolute $ Opportunity Assessment, 2015–2026

  38. APEJ Heat Pumps Market, Absolute $ Opportunity Assessment, 2015–2026

  39. Eastern Europe Heat Pumps Market, Absolute $ Opportunity Assessment, 2015–2026

  40. Latin America Heat Pumps Market, Absolute $ Opportunity Assessment, 2015–2026

  41. Middle East & Africa Heat Pumps Market, Absolute $ Opportunity Assessment, 2015–2026

  42. Japan Heat Pumps Market, Absolute $ Opportunity Assessment, 2015–2026

  43. Global Heat Pumps Market Attractiveness Analysis, By Region (2016–2026)

  44. North America Heat Pumps Market Share and BPS Analysis, by Country 2016 & 2026

  45. North America Heat Pumps Market, Y-o-Y Growth Projections by Country 2015–2026

  46. North America Heat Pumps Market Attractiveness Analysis, by Country (2016–2026)

  47. North America Heat Pumps Market Share and BPS Analysis, by Product Type 2016 and 2026

  48. North America Heat Pumps Market Attractiveness Analysis, by Product Type (2016–2026)

  49. North America Heat Pumps Market Share and BPS Analysis, by Refrigerant Used 2016 and 2026

  50. North America Heat Pumps Market Attractiveness Analysis, by Refrigerant Used (2016–2026)

  51. North America Heat Pumps Market Share and BPS Analysis, by Power Source 2016 and 2026

  52. North America Heat Pumps Market Attractiveness Analysis, by Power Source (2016–2026)

  53. North America Heat Pumps Market Share and BPS Analysis, by End User 2016 and 2026

  54. North America Heat Pumps Market Attractiveness Analysis, by End User (2016–2026)

  55. Western Europe Heat Pumps Market Share and BPS Analysis, by Country 2016 & 2026

  56. Western Europe Heat Pumps Market, Y-o-Y Growth Projections by Country 2015–2026

  57. Western Europe Heat Pumps Market Attractiveness Analysis, by Country (2016–2026)

  58. Western Europe Heat Pumps Market Share and BPS Analysis, by Product Type 2016 and 2026

  59. Western Europe Heat Pumps Market Attractiveness Analysis, by Product Type (2016–2026)

  60. Western Europe Heat Pumps Market Share and BPS Analysis, by Refrigerant Used 2016 and 2026

  61. Western Europe Heat Pumps Market Attractiveness Analysis, by Refrigerant Used (2016–2026)

  62. Western Europe Heat Pumps Market Share and BPS Analysis, by Power Source 2016 and 2026

  63. Western Europe Heat Pumps Market Attractiveness Analysis, by Power Source (2016–2026)

  64. Western Europe Heat Pumps Market Share and BPS Analysis, by End User 2016 and 2026

  65. Western Europe Heat Pumps Market Attractiveness Analysis, by End User (2016–2026)

  66. APEJ Heat Pumps Market Share and BPS Analysis, by Country 2016 & 2026

  67. APEJ Heat Pumps Market, Y-o-Y Growth Projections by Country 2015–2026

  68. APEJ Heat Pumps Market Attractiveness Analysis, by Country (2016–2026)

  69. APEJ Heat Pumps Market Share and BPS Analysis, by Product Type 2016 and 2026

  70. APEJ Heat Pumps Market Attractiveness Analysis, by Product Type (2016–2026)

  71. APEJ Heat Pumps Market Share and BPS Analysis, by Refrigerant Used 2016 and 2026

  72. APEJ Heat Pumps Market Attractiveness Analysis, by Refrigerant Used (2016–2026)

  73. APEJ Heat Pumps Market Share and BPS Analysis, by Power Source 2016 and 2026

  74. APEJ Heat Pumps Market Attractiveness Analysis, by Power Source (2016–2026)

  75. APEJ Heat Pumps Market Share and BPS Analysis, by End User 2016 and 2026

  76. APEJ Heat Pumps Market Attractiveness Analysis, by End User (2016–2026)

  77. Eastern Europe Heat Pumps Market Share and BPS Analysis, by Country 2016 & 2026

  78. Eastern Europe Heat Pumps Market, Y-o-Y Growth Projections by Country 2015–2026

  79. Eastern Europe Heat Pumps Market Attractiveness Analysis, by Country (2016–2026)

  80. Eastern Europe Heat Pumps Market Share and BPS Analysis, by Product Type 2016 and 2026

  81. Eastern Europe Heat Pumps Market Attractiveness Analysis, by Product Type (2016–2026)

  82. Eastern Europe Heat Pumps Market Share and BPS Analysis, by Refrigerant Used 2016 and 2026

  83. Eastern Europe Heat Pumps Market Attractiveness Analysis, by Refrigerant Used (2016–2026)

  84. Eastern Europe Heat Pumps Market Share and BPS Analysis, by Power Source 2016 and 2026

  85. Eastern Europe Heat Pumps Market Attractiveness Analysis, by Power Source (2016–2026)

  86. Eastern Europe Heat Pumps Market Share and BPS Analysis, by End User 2016 and 2026

  87. Eastern Europe Heat Pumps Market Attractiveness Analysis, by End User (2016–2026)

  88. Latin America Heat Pumps Market Share and BPS Analysis, by Country, 2016 & 2026

  89. Latin America Heat Pumps Market, Y-o-Y Growth Projections by Country, 2015–2026

  90. Latin America Heat Pumps Market Attractiveness Analysis, by Country (2016–2026)

  91. Latin America Heat Pumps Market Share and BPS Analysis, by Product Type 2016 and 2026

  92. Latin America Heat Pumps Market Attractiveness Analysis, by Product Type (2016–2026)

  93. Latin America Heat Pumps Market Share and BPS Analysis, by Refrigerant Used 2016 and 2026

  94. Latin America Heat Pumps Market Attractiveness Analysis, by Refrigerant Used (2016–2026)

  95. Latin America Heat Pumps Market Share and BPS Analysis, by Power Source 2016 and 2026

  96. Latin America Heat Pumps Market Attractiveness Analysis, by Power Source (2016–2026)

  97. Latin America Heat Pumps Market Share and BPS Analysis, by End User, 2016 and 2026

  98. Latin America Heat Pumps Market Attractiveness Analysis, by End User (2016–2026)

  99. MEA Heat Pumps Market Share and BPS Analysis, by Country 2016 & 2026

  100. MEA Heat Pumps Market, Y-o-Y Growth Projections by Country 2015–2026

  101. MEA Heat Pumps Market Attractiveness Analysis, by Country (2016–2026)

  102. MEA Heat Pumps Market Share and BPS Analysis, by Product Type, 2016 and 2026

  103. MEA Heat Pumps Market Attractiveness Analysis, by Product Type (2016–2026)

  104. MEA Heat Pumps Market Share and BPS Analysis, by Refrigerant Used 2016 and 2026

  105. MEA Heat Pumps Market Attractiveness Analysis, by Refrigerant Used (2016–2026)

  106. MEA Heat Pumps Market Share and BPS Analysis, by Power Source 2016 and 2026

  107. MEA Heat Pumps Market Attractiveness Analysis, by Power Source (2016–2026)

  108. MEA Heat Pumps Market Share and BPS Analysis, by End User 2016 and 2026

  109. MEA Heat Pumps Market Attractiveness Analysis, by End User (2016–2026)

  110. Japan Heat Pumps Market Share and BPS Analysis, by Product Type 2016 and 2026

  111. Japan Heat Pumps Market Attractiveness Analysis, by Product Type (2016–2026)

  112. Japan Heat Pumps Market Share and BPS Analysis, by Refrigerant Used 2016 and 2026

  113. Japan Heat Pumps Market Attractiveness Analysis, by Refrigerant Used (2016–2026)

  114. Japan Heat Pumps Market Share and BPS Analysis, by Power Source 2016 and 2026

  115. Japan Heat Pumps Market Attractiveness Analysis, by Power Source (2016–2026)

  116. Japan Heat Pumps Market Share and BPS Analysis, by End User 2016 and 2026

  117. Japan Heat Pumps Market Attractiveness Analysis, by End User (2016–2026)

  118. Global Heat Pumps Market Share Analysis, by Company, 2016