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Heat Pump Market Overview with Detailed Analysis,
Competitive landscape, Forecast to 2028
The Global Heat Pump market study focuses major leading industry players with information
such as company profiles, product picture and specification, capacity, production, price, cost,
revenue and contact information. It provides information on trends and developments, and
focuses on markets and materials, capacities and technologies, and on the changing structure.
Browse Report Summery @ https://www.gminsights.com/industry-analysis/heat-pump-
The heat pump market is anticipated to exhibit robust growth by 2028 owing to mounting
demand for space heating in key regions across the globe. In addition, the booming renewable
energy sector is likely to foster industry expansion over the forecast period.
Heat pumps use a compressor and a liquid or gas refrigerant to pump heat from one location
to another. Heat is taken from the outer environment and pumped indoors. Heat pump
systems can be reversed, which enables them to transmit heat into the home during the
winter and pull heat out during the summer. Favorable government policies for the reduction
of carbon emissions and growing consumer preferences for sustainable heating systems have
boosted product demand across the world.
Furthermore, industry players are employing profitable strategies to cater to the escalating
demand for sustainable and energy-efficient systems, thereby enhancing the overall business
landscape. For instance, in August 2021, NIBE Industrier AB, a leading heating technology
company, announced the acquisition of 50% shares in Go Geothermal Ltd., a major distributor
of heat pumps in the United Kingdom. The deal enabled NIBE to expand its products and
services across the UK by leveraging Go Geothermal's strong presence in the British market.
The heat pump market has been segmented on the basis of application, product, and region.