The Business Research Company covers the heat pumps market drivers and restraints, market size, major players, and the impact of COVID-19 on the market.

LONDON, GREATER LONDON, UK, May 27, 2022 /EINPresswire.com/ -- According to ‘Heat Pumps Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the heat pumps market size is expected to grow from $111.22 billion in 2021 to $119.56 billion in 2022 at a compound annual growth rate (CAGR) of 7.5%. The global heat pump market size is expected to grow to $165.26 billion in 2026 at a CAGR of 8.4%. Government regulations and policies to improve energy efficiency are boosting the demand for renewable energy sources, thereby contributing to the growth of the heat pumps global market.

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The heat pumps global market consists of sales of heat pumps by entities (organizations, sole traders, and partnerships) that produce heat pumps that move heat from a cool space to a warm space, making the cool space cooler and the warm space warmer. Only goods and services traded between entities or sold to end consumers are included.

Global Heat Pumps Market Trends
Major companies operating in the heat pumps industry are focusing on developing new technology for cost-effective heating, which is likely to gain popularity in the heat pumps market. The heat pump manufacturers are developing new pump technology including contractor-friendly designs, higher efficiencies, and innovative two-stage compressors that run at lower speeds, consume less energy, and are cost-effective.

Global Heat Pumps Market Segments
The global heat pumps market is segmented:
By Product Type: Air Source, Air-to-Air, Air-to-Water, Water Source, Ground Source
By Rated Capacity: Up to 10 kW, 10–20 kW, 20–30 kW, Above 30 kW
By End-User: Residential, Commercial, Industrial
By Geography: The global heat pumps market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share.

Read more on the global heat pumps market report at:
https://www.thebusinessresearchcompany.com/report/heat-pumps-global-market-report

Heat Pumps Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides heat pumps market overviews, global market analysis and forecasts market size and heat pumps market growth, market share, market segments and geographies market trends, market players, market leading competitor revenues, profiles and market shares. The heat pumps market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.

TBRC’s Heat Pumps Global Market Report 2022 includes information on the following:

Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies

Key Market Players: Daikin Industries Ltd, Carrier, NIBE, Mitsubishi Electric Corporation, LG, Johnson Controls, Hitachi, Robert Bosch GmbH, Stiebel Eltron, and Ingersoll Rand.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.

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