According to the report titled ‘Europe Industrial Heat Pump Market Size By Product, By Application (Chemical, Pulp & Paper, Food & Beverage, District Heating), Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, Europe industrial  heat pump market size is expected to swell significantly through 2027.
 

Various factors responsible for the anticipated boost of Europe industrial heat pump market are the rise in adoption of open cycle thermocompressive heat pumps, increase in demand for energy efficient systems, awareness for the reduction of carbon emissions, and presence of numerous energy-centric industries in the region.
 

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Notably, industrial heat pumps, also termed as active heat recovery equipment, permit the waste heat stream to be increased to a useful level of temperature. This waste heat can then be used to power HVAC applications and subsequently reduce the costs.
 

Based on product terrain, open cycle thermocompression heat pump segment is anticipated to witness substantial growth during 2021-2027. The product is widely used across food & beverage vertical for steep water or syrup concentration and in paper manufacturing for flash steam recovery.
 

In terms of application, Europe industrial heat pump market share from pulp & paper segment is slated to grow modestly over the analysis timeframe, owing to incorporation of energy efficient systems across manufacturing units. Moreover, rise in investments for efficient infrastructure development and strict emission rules are fostering the demand for industrial heat pumps in Europe.
 

From geographical standpoint, the growth of industrial heat pump market in the U.K. is motivated by the presence of numerous energy concentrated industries, including food processing, pulp & paper, and chemicals. Parallelly, Denmark is a business hotspot for industrial heat pump industry presently due to recent expansion in the industrial sector. Also, Finland, Spain, and Austria are aggressively looking for effective heating technologies keeping in consideration the minimal carbon emission, positively swaying the business scenario.
 

Various companies in Europe industrial heat pump market are GlenDimplex, Thermax limited, ARANER, Oilon Group Oy, Hitema S.r.l., Dry-F (DryFiciency), Viessmann Group, Mayekawa Manufacturing Co. Ltd., Bronswerk Heat Transfer B.V., Turboden S.p.A., Ochsner Energie Technik GmbH, GEA Group AG, Piller Blowers & Compressors GmbH, Emerson Electric Co., and Danfoss A/S.