Government reforms pertaining to energy efficiency and sustainability across the globe are likely to strengthen air source pump market forecast through the coming years. Air source heat pumps are known to be a renewable heating source, with minimal operating costs as compared to direct electric heating.

According to energy.gov, an air-source heat pump may provide up to three times the amount of heat energy to a residence as compared to the amount of electricity it uses. This can be achievable because, unlike combustion heating systems, heat pumps transfer heat rather than converting it from a fuel. Favorable laws and incentives enacted by governments worldwide in accordance with emission targets are expected to drive product adoption.

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Bosch Thermotechnology, Daikin, A.O. Smith Corporation, Mitsubishi Electric Corporation, Vaillant Group, Toshiba, and Danfoss etc., are among the leading air source heat pump manufacturers in the industry. According to Global Market Insights, Inc. estimates, air source heat pump market size will garner notable traction through 2028, with annual installation of over 17 million units. Enlisted below are the three forces pushing the industry forward:

Room heat pumps register high demand across residential applications:

While discussing the demand for room heat pumps, a myriad of factors come into play. For starters, with global urbanization on the rise across the globe, individuals are getting to explore the features of these pumps for their heating requirements. Secondly, residents from colder regions are always on the lookout for sustainable & long-lasting heating systems. Room heat pumps equip them with ease of operation, low maintenance, and extensive control automation possibilities, which will encourage their use over the next seven years.

Pros of air source heat pumps for offices:

Air source heat pumps may be integrated into a company's existing heating systems and deliver a consistent low level of heat, resulting in a better working environment for its staff. As a result of which, a large decline in heating expenditures as well as an improvement in the company’s green credentials can be unlocked. These pumps not only lower fuel costs and aid in saving a significant amount of money, but they also minimize the company’s overall carbon impact. Considering these advantages, several businesses across the globe are betting on air source heat pumps as an ideal energy solution.

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Air to water source heat pumps garners customer interest:

With rising global temperatures, green building development is a topic creating buzz worldwide. Air to water source heat pumps are known for their simple design and ease of installation. They can be integrated with solar heating sources, with fewer input costs. Strict building emission requirements, along with beneficial incentives for clean technology, will encourage the product penetration through the study period.

After overcoming a lengthy standstill caused by the COVID-19 pandemic, travel enthusiasts are returning to what they do best. Of course, the world has come a long way since 2020. Despite this, there is a renewed desire to travel, which is expected to make seasonal space heating demand thrive. The tourism industry is on its road to revival, especially across Europe.

Europe's tourism-dependent economy includes the Netherlands, Italy, Spain, the United Kingdom, and others. Over the projection period, increased heating demand from non-residential projects such as healthcare, warehouses, retail, offices, hotels, and educational institutions would result in the deployment of a large number of energy efficient air source heat pumps across the European region.

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