Global Heat Pump Demand Increase 5.9% Annually Through 2022

Asia/Pacific region will drive demand gains

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Sep 10, 2018, 09:24 ET

CLEVELAND, Sept. 10, 2018 /PRNewswire/ -- Global heat pump demand is projected to rise 5.9% per year to $36.2 billion in 2022. Heat pumps will outperform other HVAC equipment types due to their energy efficiency and ability to provide both heating and cooling without need for additional equipment. This and other trends are presented in Global HVAC Equipment, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/global-hvac-equipment-3652.htm

The Asia/Pacific region will account for the vast majority of global heat pump demand. Countries such as China are promoting the installation of heat pumps as an energy-efficient, eco-friendly alternative to traditional HVAC equipment, while buildings in the region often feature the necessary infrastructure for heat pumps.

Heat pumps will increase their share of global HVAC equipment demand to 27% in 2022. The energy-efficient properties of heat pumps also make them an appealing alternative to unitary air conditioning systems in Western Europe and in the southern states of the US.

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Machinery & Equipment studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

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SOURCE The Freedonia Group