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MARKET OVERVIEW

1.1 Definition and presentation

Heat pumps are environmentally friendly and economical solutions for heating or cooling the interior of buildings, especially homes. They are based on thermodynamic systems that convert energy from a cold environment into heat for a specific room or space to be heated. There are different types of heat pumps with different mechanisms, such as traditional aerothermal, geothermal (which transforms energy from the ground), and hydrothermal (which transforms energy taken from the water table).

The global heat pump market was valued at $54.34 billion in 2018, and is projected to reach a value of $94.42 billion by 2023, growing at a CAGR of 11.68 percent during 2019-2023.

Considering heat pump systems worldwide, the Italian industry ranks among the top in the world. In fact, the Italian heat pump market represents the most important and profitable sector within the broad category of room air conditioning, and is known for its excellence both in Italy and abroad. This is also confirmed by the fact that almost 61 percent of Italian production is exported, while an average total number of 1 million systems per year are sold directly domestically.

The growth of the Italian heat pump market is mainly related to three factors. First, from a technological point of view, modern systems cover a wider temperature range, operating even at outdoor temperatures of -25°C and increasingly capable of efficiently supplying water at 65°C. Second, the need to accelerate the energy transition in the heating and cooling sector as well has put heat pumps under the lens of policy makers, and new legislation has been introduced in Italy to encourage the adoption of such systems. Third, the continued increase in heat pump sales has led to a reduction in production costs and the establishment of economies of scale, which is beneficial to companies operating in the sector.

1.2 World and European market

The global heat pump market was valued at $**.* billion in **** and is supposed to grow at a CAGR of *.*% between **** and ****.

According to the European Heat Pump Association (***), the European market is growing strongly, with *.* million heat pumps sold in ****, a sales increase of +**% from the previous year.

Europe heat pump ...

1.3 Italian market

As mentioned above, Italy is a very important market for heat pumps, so much so that in **** it was the second largest European market for heat pump purchases. Considering the average price of a heat pump at ** thousand euros, in **** with *** thousand units sold, about *** million euros in sales were ...

1.3 Imports and exports

To understand the value of imports and exports of heat pumps in Italy, the HS code ,of the United Nations statistical database, ****** " heat pumps " was considered

In ****, imports amounted to $*** million while exports amounted to $*** million. A measure that highlights how much Italy is an exporting country for heat pumps is ...

DEMAND ANALYSIS

2.1 Determining factors for purchase

There are some factors that lead people to purchase heat pumps:

Energy price The implementation of environmental policies Tax incentives The increased attention to the environment

ENERGY PRICE

The price of energy in Italy is increasing. it is therefore necessary to encounter more efficient solutions with lower consumption such as heat ...

2.2 Sectors and heat pumps

To understand how the demand for heat pumps varies, it may be useful to look at the market trends of certain sectors where they are used: Heat pump applications are essentially three: electrodomestic such as refrigerators, electric cars, and buildings.

BUILDINGS

The real estate market in Italy is highly variable, as ...

MARKET STRUCTURE

3.1 Jobs generated

According to the European organization EHPA, the heat pump sector generates about *** thousand jobs in * different categories: production, installation, maintenance, and secondary component manufacturing.

Jobs generated through heat pumps Europe, ****, percentage Source: ****

Source: ****

3.2 Production in Italy

According to ASSOCLIMA, the Association of Air Conditioning System Manufacturers, there are ** member companies of manufacturers of air conditioning systems, including heat pumps, in ****. On the ISTAT website, under ATECO code *****, companies producing heating boilers are recorded, and they turn out to be *** in ****. Applying the proportion, it can be calculated ...

3.3 Operation of a heat pump

A compression heat pump can be represented as a set of four main elements: the compressor, two heat exchangers, and an expansion valve. The four elements are connected by a closed circuit in which the refrigerant fluid flows.

In the first stage, the fluid in the vapor state is compressed (***).

SUPPLY ANALYSIS

4.1 Products offered

Heat pumps are divided according to the sources they use to produce heat and are divided into five categories:

Water-Water Air-Water Air-Air Geothermal Absorption

Source: ****

4.2 Prices and trends

Heat pump prices vary according to power, type, and accessories.

Source: ****

In addition to the cost of the pump, we need to consider the cost of installing the heat pump. According to the site Ernesto.it the price on Italian soil varies from a minimum of *** € to a maximum of ** thousand ...

REGULATIONS

5.1 Regulations

ISO **** is the international standard to which European standard EN *** corresponds, which establishes requirements for the safety of people and property, provides guidance for the protection of the environment, and establishes procedures for the operation, maintenance and repair of refrigeration systems. This term in the European standard also means heat pumps. ...

POSITIONING OF ACTORS

6.1 Segmentation

  • Viessmann
  • Daikin Italia
  • BAXI
  • Rossato Group
  • GMTermoidraulica
  • Toshiba Climate
  • Templari

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What is in this market study?

  • What are the figures on the size and growth of the market?
  • What is driving the growth of the market and its evolution?
  • What are the latest trends in this market?
  • What is the positioning of companies in the value chain?
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Method

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Analysts 1 sector analyzed
in 40 pages
Method
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Analysts

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Data

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Method

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Reviews (2)

The heat pump market - France

Publicado en 14/11/2022 by BS Conseil - BS Conseil

Très explicite.


Businesscoot Response:

Merci pour votre retour :)

The heat pump market - France

Publicado en 26/09/2022 by Matthieu Boussard - Stryber

Etude parfaite pour une vue d'ensemble du marché avec un très bon rapport qualité-prix.


Businesscoot Response:

Merci beaucoup Matthieu pour votre avis. Nous sommes ravis d'avoir été à la hauteur de vos attentes!