Industrial Heat Pumps Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR41529

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The industrial heat pumps market size is expected to grow by USD 562.43 million and record a CAGR of 5.33% during 2021-2025.

This post-pandemic industrial heat pumps market report has assessed the shift in consumer behavior and has identified and explored the upcoming trends and drivers that the vendors can capitalize on to support prompt business decisions. In this industrial heat pumps market analysis report, key drivers such as rising focus on improving energy efficiency by industries have been discussed with emerging growth regions, which will offer immense business opportunities. Our analysts have also identified challenges such as high initial cost and limitations of heat pumps, which will impede market growth. With these insights, the vendors can recreate their plan of action to obtain growth opportunities in the future.

What will the Industrial Heat Pumps Market Size be in 2021?


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Who are the Key Vendors in the Industrial Heat Pumps Market?

The industrial heat pumps market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies including:


  • Carrier Global Corp.
  • Daikin Industries Ltd.
  • Danfoss AS
  • Emerson Electric Co.
  • Johnson Controls International Plc
  • Lennox International Inc.
  • Mitsubishi Electric Corp.
  • NIBE Industrier AB
  • Rheem Manufacturing Co.
  • Robert Bosch GmbH


Our analysts have extensively outlined successful business strategies deployed by the key vendors in this market research report. The industrial heat pumps market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

This industrial heat pumps market report further entails segmentation by end-user (paper and pulp, food and beverage, chemical, automotive, and others) and geography (Europe, APAC, North America, MEA, and South America). The available actionable insights on the segmentation in this report will enable a better understanding of the target audience and changing demand patterns.

To make the most of the opportunities, vendors should focus on fast-growing segments, while maintaining their positions in the slow-growing segments. The industrial heat pumps market further offers well-structured marketing strategies to overcome the negative post-COVID-19 impact, if any, on each product and service segment.

Which are the Key Regional Markets for Industrial Heat Pumps Market?


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The report offers an up-to-date analysis of the geographical composition of the market. Europe will record a fast growth rate during 2021-2025, owing to which the region should offer several growth opportunities to market vendors. From the statistical study of the geographic landscape, you can interpret and understand the competitive intelligence and regional opportunities in store for vendors for 2021-2025.

32% of the market’s growth will originate from Europe during the forecast period. Germany and Italy are the key markets for industrial heat pumps in the region. This report provides estimations of the contribution of all regions to the growth of the industrial heat pumps market size.


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What are the Key Factors Covered in this Industrial Heat Pumps Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial heat pumps market growth during the next five years
  • Precise estimation of the industrial heat pumps market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial heat pumps industry across Europe, APAC, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial heat pumps market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The industrial heat pumps market growth will increase by $140.03 million during 2019-2024.
The industrial heat pumps market is expected to grow at a CAGR of 4.29% during 2019-2024.
Technavio has segmented the industrial heat pumps market by end user (Paper and pulp, Food and beverage, Chemical, Automotive, and Others) and geographic (Europe, APAC, North America, MEA, and South America).
Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Johnson Controls International Plc, Lennox International Inc., Mitsubishi Electric Corp., NIBE Industrier AB, Rheem Manufacturing Co., Robert Bosch GmbH, United Technologies Corp. are a few of the key vendors in the industrial heat pumps market.
Europe will register the highest growth rate of 32.24% among the other regions. Therefore, the industrial heat pumps market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the industrial heat pumps market growth are:
  • Rising focus on improving energy efficiency by industries
  • Advent of smart heat pumps
The industrial heat pumps market vendors should focus on grabbing business opportunities from the paper and pulp segment as it accounted for the largest market share in the base year.
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