Yahoo Finance Global Large-scale Natural Refrigerant Heat Pump Market 2022-2027 with Siemens Energy, Johnson Controls, Emerson Electric, GEA, and Mitsubishi Electric Dominating
Global Large-Scale Natural Refrigerant Heat Pump Market
Dublin, June 27, 2022 (GLOBE NEWSWIRE) -- The "Large-scale Natural Refrigerant Heat Pump Market by Refrigerants (Ammonia (R717), Carbon Dioxide (R744), Hydrocarbons), Capacity (20-200 kW, 200-500 kW, 500-1,000 kW, Above 1,000 kW), End Use (Commercial, Industrial), Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global large-scale natural refrigerant heat pump market is projected to reach USD 9.1 Billion by 2027 from an estimated market size of USD 5.8 Billion in 2022, at a CAGR of 9.4%
The market has a promising growth potential due to several factors, including the role of large-scale natural refrigerant heat pumps playing in carbon emission reduction and government incentives and regulations to improve energy efficiency.
Carbon dioxide (R-744) natural refrigerant heat pump: The fastest-growing segment of large-scale natural refrigerant heat pump market, by natural refrigerants
Carbon dioxide (R-744) occurs naturally and can be produced on-site and can be used as both a secondary fluid with phase change and as a refrigerant in different heating and cooling applications.
It is one of the best refrigerants used in industries for low-temperature applications. Carbon dioxide (R-744) can be used along with other natural refrigerants, such as hydrocarbon and ammonia. It is non-flammable and nontoxic in nature; hence, it is ideal for heat pumps used in the commercial as well as industrial sectors.
200 - 500 kW: The fastest-growing segment of large-scale natural refrigerant heat pump market, by capacity
200-500 kW segment of the large-scale natural refrigerant heat pump market will be the fastest-growing segment during the forecast period. 200-500 kW segment majorly caters end users like commercial end-use such as hotel, malls, and retail stores. Growing educational infrastructure and hospitality spaces is propelling the demand for large-scale natural refrigerant heat pump.
North America: The fastest-growing region in the large-scale natural refrigerant heat pump market
The North America region is projected to be the fastest-growing market during the forecast period. The growth of the North American large-scale natural refrigerant heat pump market is expected to be driven by government-led initiatives to reduce air pollution caused by the conventional sources of energy used for heating in the commercial, and industrial sectors.
Competitive landscape
The large-scale natural refrigerant heat pumps market is dominated by a few globally established players such as Siemens Energy (Germany), Johnson Controls (Ireland), Emerson Electric Co. (US), GEA Group Aktiengesellschaft (Germany), and Mitsubishi Electric Corporation (Japan).
Premium Insights
Contribution of Heat Pump Technology in Reducing Carbon Footprint to Boost Market Growth from 2022 to 2027
North America Large-Scale Natural Refrigerant Heat Pump Market to Exhibit Highest CAGR During Forecast Period
Industrial End-Use and Us Held Largest Shares of Large-Scale Natural Refrigerant Heat Pump Market in North America in 2021
Carbon Dioxide (R-744) to Account for Largest Market Share, by Natural Refrigerant, in 2027
20-200 Kw Segment to Hold Largest Market Share, by Capacity, in 2027
Industrial Segment to Dominate Large-Scale Natural Refrigerant Heat Pump Market, by End-Use, in 2027
Market Dynamics
Drivers
Increasing Visibility of Contribution of Heat Pump Technology in Reducing Carbon Footprint
Growing Focus on Improving Operational Efficiency in Industrial Sector
Restraints
Lack of Awareness Regarding Benefits of Heat Pumps and Heat Pump Standards Among System Vendors
Opportunities
Imposition of Carbon Tax in Multiple Countries
Challenges
Availability of Low-Cost Fossil Energy-Based Alternative Technologies
Impact of COVID 19 on Large-Scale Natural Refrigerant Heat Pump Market
Case Study Analysis
Drammen District Heating: World's Largest Low Gwp Refrigerant Heat Pump
Company Profiles
Key Players
Siemens Energy
Johnson Controls
Emerson Electric Co.
Gea Group Aktiengesellschaft
Mitsubishi Electric Corporation
Man Energy Solutions Se
Guangdong Phnix Eco-Energy Solution Ltd.
Araner
Star Refrigeration
Emicon Ac S.P.A.
Clade Engineering Systems Ltd
Ago GmbH Energie + Anlagen
Lync
Skadec GmbH
Bundgaard Refrigeration
Other Players
Mayekawa Mfg. Co. Ltd.
Fenagy A/S
Pure Thermal
Teko GmbH
Enerblue Sr
For more information about this report visit https://www.researchandmarkets.com/r/5kgufm
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