Global Heat Pumps Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Heat Pumps Market 2021 (Includes Business Impact of COVID-19)
Global Heat Pumps Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global heat pump market report has been segmented on the basis of product type, capacity, end user, and region.
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The global Heat Pumps market size was valued at USD$35.06 billion in 2020 and is projected to reach USD $76.50 billion by 2030, and is anticipated to expand at a CAGR of 8.62% over the forecast period from 2020 to 2030.


Global Heat Pumps Market: Overview


A heat pump is a type of mechanical device which is used to transfer heat energy from a source of heat which is called a heat sink. These pumps transfer thermal energy in the opposed direction of heat transfer, by absorption of heat from cold space and emitting it to another or warmer place. A heat pump utilizes the exterior power in order to transfer the energy from the heat source to the heat sink. The design structure of the heat pump includes four major components such as an expansion valve, a condenser, a compressor, and an evaporator. The heat transfer distributed from these components is known as refrigerant. The most common applications of the heat pumps include air conditioners and freezers, hence increasing utilization of these products among the household as well as commercial spaces.


Global Heat Pumps Market: Dynamics


Growing construction industry is a major factor contributing towards growth of the global heat pump market. In addition, increasing residential and commercial construction activities in developed as well as developing countries is a factor expected to drive growth of the global market. These heat pumps aids to reduce the carbon footprint, which is another factor expected to propel the target market growth over the forecast period.

The key trend observed in the global market is increasing adoption of solar powered heat pumps that aids to save the energy as well as minimized dependency on fossil fuels.

However, the high cost associated with the installation of heat pumps is one of the major factor expected to hamper global market growth. In addition, low awareness regarding benefits of heat pumps is anticipated to adversely impact market growth, especially in developing countries.


Global Heat Pumps Market: Segmental Analysis


Among the product type segments, the air-to-air segment is expected to register significant growth, which can be attributed to their capability to transfer heat from external environments to the interior of the buildings and rooms and vice versa.

Among the capacity segments, the 20“30 kW segment is projected to account for significant revenue shares of the global market.

Among the end user segments, the residential segment is anticipated to register substantial growth, owing to the increasing number of residential projects globally and high demand for green buildings.


Global Heat Pumps Market: Regional Analysis


Asia Pacific heat pump market is expected to register significant growth, which can be attributed to increasing residential construction projects coupled with increasing population. In addition, rapid urbanization and higher demand for green buildings, and increasing awareness regarding environmental concerns are some other factors expected to fuel the demand for heat pumps. Furthermore, increasing deployment of these pumps in other end use application such as hot water supply in commercial buildings, processing heat and steam for industrial application, etc. is expected to support the growth of the target market in Asia Pacific region.


Below are the active patents related to Heat Pumps Market.


Patent Number: US20090255646A1

Heat Pump System

Abstract

The invention relates to a heat pump system (10) comprising a heat pump (5) so arranged as to permit the taking up of thermal energy from outdoor air and the giving off of thermal energy to another medium (20), and an external space (2) adapted to permit heating of the outdoor air by the use of solar radiation (12), the system (10) being so arranged as to conduct the outdoor air to the heat pump (5) via the external space (2). The invention is characterized in that the heat pump system (10) comprises means (3, 6, 7, 7 a, 7 b, 9) for regulating the flow of the outdoor air to the external space (2).

Application File Date: 2006-11-03

Application Granted Date: 2011-09-20

Current Assignee: kodeda cleantec AB

Patent Number: US20190070924A1

Optimal source electric vehicle heat pump with extreme temperature heating capability and efficient thermal preconditioning

Abstract

A vehicle thermal management system includes a vehicle heat pump system, a battery system coolant loop, a drive train coolant loop, and control electronics. The vehicle heat pump system includes a compressor, a cabin condenser, a cabin evaporator, a cabin blower, and a chiller. The battery system coolant loop is in thermal communication with a battery system and with the chiller and selectively in thermal communication with the drive train coolant loop. The control electronics control the components of the vehicle thermal management system to heat the cabin, cool the cabin, heat the battery system, cool the battery system, and cool the drive train. The control electronics may control the compressor to operate in an efficient mode or a lossy mode in which the compressor generates heat. The control electronics may also control the components of the vehicle thermal management system to precondition the battery.

Application File Date: 2018-09-07

Application Granted Date: 2021-04-06

Current Assignee: Tesla Inc

Patent Number: US20100064697A1

Heat Pump Comprising a Cooling Mode

Abstract

A heat pump having a cooling mode includes a cooling evaporator coupled to an advance flow and a backflow. The cooling evaporator is brought to a pressure such that a vaporization temperature of the working liquid in the backflow is below a temperature of an object to be cooled to which the backflow may be thermally coupled. In this manner, an area having vapor at high pressure is generated. This vapor is fed into a dynamic-type compressor which outputs the vapor at a low pressure and provides electrical energy in the process. The vapor at low pressure is fed to a cooling liquefier which provides vapor liquefaction at a low temperature, this temperature being lower than the temperature of the object to be cooled. The working liquid removed from the cooling evaporator due to the vaporization is refilled by a filling pump. The heat pump having a cooling mode also results when a specific heat pump is operated in the reverse direction, and provides cooling without any net use of electrical energy. Instead, the cooling even generates electrical energy.

Application File Date: 2007-11-23

Application Granted Date: 2013-07-16

Current Assignee: Efficient Energy GmbH

Global Heat Pumps Market Segmentation:

Segmentation by Product Type:

  
Air-to-Air
  
Air-to-Water

Segmentation by Capacity:

  
Up to 10 kW
  
10“20 kW
  
20“30 kW
  
Above 30 kW

By End-User:

  
Residential
  
Commercial
  
Hospitality
  
Retail
  
Education
  
Other Commercial
  
Industrial
  
Food & Beverage
  
Paper & Pulp
  
Chemicals & Petrochemicals
  
Other Industrial Sector


Key Market Players included in the report:


  
Daikin Industries Ltd.
  
Danfoss Group Global
  
Dimplex (Ireland)
  
Glen Dimplex Group
  
Ingersoll Rand (Ireland)
  
Ingersoll Rand Plc
  
Melrose Industries PLC
  
Midea (China)
  
Mitsubishi Electric Corporation
  
NIBE Industrier AB
  
Panasonic Corporation
  
Stiebel Eltron (Germany)
  
StiebelEltron
  
The Bosch Group
  
United Technologies Corporation
  
Vaillant (Germany)
  
ViessmannWerke GmbH & Co. KG


 Below are the key development related to Heat Pumps Market in 2020 and 2021.


April  2021: Daikin boosts heat pump production. Daikin is boosting heat pump production at its heat pump manufacturing facility in Güglingen, Germany, with the addition of a new production line.  The new line will enable Daikin to produce wall-mounted indoor heat pump units used in several product ranges including the Daikin Altherma 3, high and low temperatures heat pumps. Approximately 20,000 units will be produced by end of 2021 to meet growing EU demand. To make this possible, the Daikin Manufacturing Germany GmbH factory has already increased its number of employees by 37% since October last year. By increasing its production capacity in Germany, Daikin aims to strengthen its footprint in Europe’s leading manufacturing hub for heat pumps and contribute to Europe’s energy transition.  Daikin Manufacturing Germany GmbH (DMGG) was formed following the acquisition of German heat pump manufacturer Rotex in 2008. Source

February 2021:  POLYPIPE ACQUIRES UNDERFLOOR HEATING FIRM FOR £27M.Doncaster-based plastic pipes manufacturer Polypipe has acquired a 90-strong designer and supplier of underfloor heating systems for £27m. Nu-Heat is based in Honiton and was established in 1992. In addition to its underfloor heating systems expertise, the business has developed a position in the supply of heat pumps and solar heating, to offer complete heating systems based on renewable energy. In the last three years, these renewable solutions have been the fastest-growing part of the portfolio, now accounting for 23 per cent of total installations. Source

December 2020: Beijer Ref buys Sinclair air conditioning business. SWEDEN: Refrigeration wholesaling group Beijer Ref has acquired a significant majority shareholding in Czech air conditioning and heat pump manufacturer Sinclair. Beijer Ref has increased its stake in the HVAC market with the acquisition of 85% of the shares in Sinclair Global Group with the option to acquire the remaining shares. Source

August 2020:  EVERGREEN ENERGY EXPANDS WITH START-UP ACQUISITION. Manchester-based Evergreen Energy has expanded with the acquisition of a renewable home heating start-up. Founded in 2018, Homely Energy has developed a smart thermostat specifically for heat pumps. Customers get app-based control of their heating, while also benefiting from cost saving optimisation. Source