Europe Heat Pump Market Size & Outlook, 2022-2030
Europe heat pump market, 2018-2030 (US$M)
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Europe heat pump market highlights
- The Europe heat pump market generated a revenue of USD 17,531.3 million in 2022.
- The market is expected to grow at a CAGR of 10.6% from 2023 to 2030.
- In terms of segment, air source was the largest revenue generating technology in 2022.
- Geothermal is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 17,531.3 million |
| Market revenue in 2030 | USD 39,373.0 million |
| Growth rate | 10.6% (CAGR from 2022 to 2030) |
| Largest segment | Air source |
| Fastest growing segment | Geothermal |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Air Source, Water Source, Geothermal |
| Key market players worldwide | Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Robert Bosch Engineering & Business Solutions, Lennox International Inc, Johnson Controls International PLC, Hitachi Ltd, Ingersoll Rand Inc, Palomar Holdings Inc, Haier, Panasonic Holdings Corp, Danfoss A/S, Fujitsu Ltd, LG Electronics Inc ADR, Samsung Electronics Co Ltd, Midea Group |
Other key industry trends
- In terms of revenue, Europe region accounted for 21.5% of the global heat pump market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 39,373.0 million by 2030.
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Heat Pump Market Scope
Heat Pump Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe heat pump market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to heat pump market will help companies and investors design strategic landscapes.
Air source was the largest segment with a revenue share of 81.05% in 2022. Horizon Databook has segmented the Europe heat pump market based on air source, water source, geothermal covering the revenue growth of each sub-segment from 2018 to 2030.
Europe is home to some of the most industrialized economies in the world. The region has seen relative stability in terms of annual growth rate. According to the European Commission, in 2020, the European economy was hit hard in the first quarter of 2020 on account of the COVID-19 pandemic, however, it rebounded significantly as containment measures were slowly eased.
According to IMF, with the outbreak of COVID-19 throughout Europe, the economic recovery is expected to be sluggish. On the other hand, with a swift vaccination drive and improved private spending, Europe's GDP growth is expected to rebound by 4.5% in 2021, according to the IMF.
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Target buyers of Europe heat pump market databook
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Our clientele includes a mix of heat pump market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe heat pump market , including forecasts for subscribers. This continent databook contains high-level insights into Europe heat pump market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe heat pump market size, by country, 2018-2030 (US$M)
Europe Heat Pump Market Outlook Share, 2022 & 2030 (US$M)
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