The market analysis report titled, ‘Europe Industrial Heat Pump Market Size By Product (Closed Cycle Mechanical Heat Pump, Open Cycle Mechanical Vapor Compression Heat Pump, Open Cycle Thermocompression Heat Pump, Closed Cycle Absorption Heat Pump), By Application (Chemical, Pulp & Paper, Food & Beverage, District Heating), Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, states that Europe international heat pump market is slated to grow at a robust pace during the analysis period of 2021-2027.
 

Expert findings cite that escalating demand for energy efficient systems, increasing usage of thermocompression heat pumps, and rising focus on reducing carbon footprint are the factors aiding Europe industrial heat pump market growth.

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For the uninitiated, industrial heat pumps are a type of active heat recovery equipment that allows for a higher temperature in waste heat streams which then act as a replacement to purchased energy in HVAC applications, thereby reducing costs.

Speaking of the challenges in the industry, low investments on alternative energy resources may hinder the product demand during the evaluation period.

Based on product type, the open cycle thermocompression heat pump sub-segment is estimated to amass strong returns during the assessment timeframe owing to the augmented usage of flash steam recovery technique in the paper manufacturing industry, as well as in F&B industry to address the concentration of steep water or syrup.

Considering the application spectrum, Europe industrial heat pump industry from pulp & paper division is anticipated to grow at a robust pace owing to the growing preference towards energy-efficient systems.

From a regional frame of reference, the UK market is promising in terms of growth rate due to the expanse of industries related to pulp & paper, chemicals and food processing in the area.

Meanwhile, the market in Denmark and Spain will experience a substantial growth rate during the forecast period due to increasing awareness about sustainable heating technologies and their role in reducing greenhouse gas emissions.

Parallelly, rising emphasis towards energy optimization across manufacturing sites are anticipated to augment adoption of industrial heat pumps in Austria.  

The competitive landscape of industrial heat pump market in Europe is mainly influenced by Emerson Electric Co., GlenDimplex, The Veismann Group, Danfoss, Thermax Ltd., Piller Blowers & Compressors GmbH, GEA Group, Araner, Oilon Group Oy, Ochsner Energie Technik GmbH, Turboden S.p.A., Hitema S.r.l., Bronswerk Marine Inc., and Mayekawa Mfg. Co., Ltd.