Large-scale Natural Refrigerant Heat Pump Market

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 Code: EP 8100 May, 2022, by marketsandmarkets.com

[180 Pages Report] 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% during the forecast period. The factors driving the growth for large-scale natural refrigerant heat pump market is increasing visibility of contribution of heat pump technology in reducing carbon footprint

Large-scale Natural Refrigerant Heat Pump Market

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COVID-19 Impact on the Large-scale natural refrigerant heat pump market

Both the service and manufacturing industries have been badly impacted by the COVID-19 pandemic. The global economy has slowed as most countries around the world have enacted statewide lockdowns to prevent the virus from spreading further. The epidemic, according to the World Bank, provoked a significant recession and is projected to have a long-term impact on the global economy. The disruption of the supply chain and a sharp drop in demand in the commercial and industrial sectors hampered the expansion of large-scale natural refrigerant heat pumps. The market fell as a result of the suspension of major building and renovation projects. However, the market showed early signs of recovery, aided by government financial incentives to mitigate the impact of the pandemic..

Large-scale Natural Refrigerant Heat Pump Market Dynamics

Driver: Increasing visibility of contribution of heat pump technology in reducing carbon footprint

Heating is the largest energy end use, accounting for almost half of the total energy consumption in most countries. Thus, major economies across the world aim to reduce their dependency on non-renewable energy sources and are gradually inclining toward renewable energy sources to restrict the emission of greenhouse gases.

Heat pump technology is a promising solution for lowering greenhouse gas emissions. Different large-scale heat pumps, such as closed-cycle mechanical heat pumps, open-cycle mechanical vapor compression (MVC) heat pumps, open-cycle thermocompression heat pumps, and closed-cycle absorption heat pumps, offer an energy-efficient approach to heating and cooling in commercial and industrial applications. The heat pump is often regarded as a renewable energy technology when used in heating, ventilation, and air conditioning (HVAC) systems.

With a coefficient of performance (COP) of 3, large-scale heat pumps are expected to produce 520 TWh (terawatt-hours) per year. As a result of the increase, they will be able to better utilize alternative heat sources such as ground-source thermal heat and waste heat from data centres. They can use intermittent renewable electricity at the same time. Growing visibility regarding the efficacy of large-scale natural refrigerant heat pumps in reducing carbon footprint has led to an increase in the adoption of these systems across both industrial and commercial sectors.

Restraint: Lack of awareness regarding benefits of heat pumps and heat pump standards among system vendors

A heat pump is a technically complex equipment. The awareness regarding the energy efficiency, cost efficiency, and environmental benefits associated with heat pumps, as well as technical know-how, are limited among various end users.

According to a research published by the United Nations Environment Program, contractors are unaware of standards and certifications such as those issued by the International Organization for Standardization (ISO). Furthermore, there is a scarcity of best practise examples for large-scale natural refrigerant heat pump applications, which limits market growth.Besides, the classification of heat pumps by industries and certain public awareness websites are perplexing for the general public

Opportunities: Imposition of carbon tax in multiple countries

Enabling heat pump technologies compete with gas for heat supply in the European energy market will require more balanced taxation levels between electricity and gas. According to the European Heat Pump Association (EHPA), electricity taxes and levies in Europe are currently unjustifiably higher than those applied to gas and other fossil fuels, resulting in higher heat pump operating costs.

Sweden has experienced a fall of 2.1% in household energy use since the introduction of the carbon tax, as well as the phase-out of fuel oil, which was replaced up to 75% by district heating and 25% by heat pumps. Consumer prices for electricity in the UK are five times higher than for gas, which hinders the adoption of electric heat pumps. To make matters worse, climate and social taxes account for 23% of the electricity bill. European countries are moving more quickly to phase out fossil fuels and decarbonize their heating sectors because carbon pricing can close the price gap between renewable and fossil fuel-based technologies. The combined use of heat pumps and rooftop photo generation may be boosted in Europe by replacing current subsidies with a carbon tax policy and reduced electricity taxes.

Challenges: Availability of low-cost fossil energy-based alternative technologies

While fossil fuels will meet more than 60% of global heat demand in the buildings sector in coming years, the recent rebound in oil and gas prices has resurrected the subject of renewable space and water heating technologies' cost-competitiveness. Initial investment costs, variable running expenses, fixed operating and maintenance costs, and the presence of financial and economic incentives or disincentives all play a role in the cost-competitiveness of heating systems. Conventional heating systems, such as boilers, are driven by fossil energy, which is comparatively cheaper. The operation and associated installation costs are also low when compared with the heat pump technology. This challenges the market growth.

The high upfront cost of renewable technology can create financing barriers for households, in addition to hurting overall cost-competitiveness. Investment grants, rebates, fiscal incentives, and lending schemes are all examples of policies that can help overcome these obstacles. Policies that encourage building energy efficiency can also help with the shift to lower-temperature distribution systems.

Market Ecosystem

Large-scale Natural Refrigerant Heat Pump Market Ecosystem

The Carbon dioxide (R744) natural refrigerant is expected to be the largest segment of the large-scale natural refrigerant heat pump market, by natural refrigerants, during the forecast period

The large-scale natural refrigerant heat pump market, by natural refrigerants, is segmented into ammonia (R-717), carbon dioxide (R-744), hydrocarbons, and other refrigerants. The carbon dioxide (R-744) segment holds the largest share in the market, followed by ammonia (R-717). The carbon dioxide (R-744) refrigerant is non toxic, non flammable and can be produced onsite which is expected to drive the carbon dioxide (R-744) refrigerant segment of the market during the forecast period.

The 20-200 kW is expected to be the largest contributor to the large-scale natural refrigerant heat pump market, by capacity, during the forecast period

The large-scale natural refrigerant heat pump market, by rated capacity, is segmented into up to 20–200 kW, 200–500 kW, 500–1,000 kW, and above 1,000 kW. The 20–200 kW capacity segment accounted for a 42.4% share of the market in 2021. The major advantages, suitability for light commercial and small industrial activity is expected to drive the 20-200 kW segment, which consequently increases the demand for market during the forecast period.

The industrial segment is expected to be the fastest-growing market, by end use, during the forecast period

The large-scale natural refrigerant heat pump market, by end use, is segmented into commercial, and industrial. The industrial segment accounted for the largest share of 56.2% of the market in 2021. Growing focus to increase the operational efficiency in the industrial activity is driving the industrial segment, hence, increase the demand of large-scale natural refrigerant heat pump in the coming years

North America is expected to dominate the global large-scale natural refrigerant heat pump market

The North America region is estimated to be the largest market for the market, followed by Asia Pacific. The North America region is projected to be the fastest-growing market during the forecast period. The growth of the North America market is expected to be driven by supportive policies implemented by the government for promotion large-scale natural refrigerant heat pump

Large-scale Natural Refrigerant Heat Pump Market by Region

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Key Market Players

The major players in the large-scale natural refrigerant heat pump market are Siemens Energy (Germany), Johnson Controls (Ireland), Emerson Electric Co. (US), GEA Group Aktiengesellschaft (Germany), and Mitsubishi Electric Corporation (Japan). Between 2017 and 2021, the companies adopted growth strategies such as contracts & agreements, investments & expansions,  partnerships, collaborations, alliances & joint ventures to capture a larger share of the large-scale natural refrigerant heat pump market.

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Scope of the Report

Report Metric

Details

Market size available for years

2020–2027

Base year considered

2021

Forecast period

2022–2027

Forecast units

Value (USD); Volume (Units)

Segments covered

Natural Refrigerants, Capacity, End Use, Region

Geographies covered

North America, South America, Europe, Asia Pacific, Middle East & Africa

Companies covered

Siemens Energy (Germany), Johnson Controls (Ireland), Emerson Electric Co. (US), GEA Group Aktiengesellschaft (Germany), Mitsubishi Electric Corporation (Japan), MAN Energy Solutions SE (Germany), Guangdong PHNIX Eco-energy Solution Ltd. (China), ARANER (UAE), Star Refrigeration (UK), Emicon AC S.p.a. (Italy), Clade Engineering Systems Ltd (UK), AGO GmbH Energie + Anlagen (Germany), Lync (US), Skadec GmbH (Germany), Bundgaard Refrigeration (Denmark), MAYEKAWA MFG. CO., LTD (France), FENAGY A/S (Denmark), Pure Thermal (UK), Teko GmbH (Germany), Enerblue sr (Italy)

This research report categorizes the large-scale natural refrigerant heat pumps market by natural refrigerants, capacity, end use, and region.

On the basis of by capacity, the large-scale natural refrigerant heat pumps market has been segmented as follows:

  • 20–200 kW
  • 200–500 kW
  • 500–1,000 kW
  • Above 1,000 kW

On the basis of by natural refrigerants, the large-scale natural refrigerant heat pumps market has been segmented as follows:

  • Ammonia (R-717)
  • Carbon Dioxide (R-744)
  • Hydrocarbons
  • Other refrigerants

On the basis of by end use, the large-scale natural refrigerant heat pumps market has been segmented as follows:

  • Commercial
  • Industrial

On the basis of region, the large-scale natural refrigerant heat pumps market has been segmented as follows:

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Recent Developments

  • In March 2021, Siemens Energy signed an agreement with Vattenfall to demonstrate its high-temperature high-scale heat pump in Berlin. They tested this new technology for the first time to generate green district heating using waste heat and electricity.
  • In November 2019, Johnson Controls acquired Synchrony, a part of Siemens’ Gas and Power business. After this acquisition, Synchrony’s technology will play a vital role in the manufacturing and supply chain of Johnson Controls.
  • In October 2018, GEA Group Aktiengesellschaft launched a new series of heat pumps—GEA RedGenium. It is a combination of potential heat pump technology with natural refrigerant.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 27)
    1.1 STUDY OBJECTIVES
    1.2 DEFINITION
           1.2.1 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY NATURAL REFRIGERANT: INCLUSIONS & EXCLUSIONS
           1.2.2 MARKET, BY CAPACITY: INCLUSIONS & EXCLUSIONS
           1.2.3 MARKET, BY END USE: INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATION
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 32)
    2.1 RESEARCH DATA
          FIGURE 1 MARKET: RESEARCH DESIGN
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
          FIGURE 2 DATA TRIANGULATION METHODOLOGY
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 Key data from primary sources
                    2.2.2.2 Breakdown of primaries
                                FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY, DESIGNATION, AND REGION
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.3.3 DEMAND-SIDE METRICS
                    FIGURE 6 MAIN METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR LARGE-SCALE NATURAL REFRIGERANT HEAT PUMPS
                    2.3.3.1 Main metrics considered to assess demand for large-scale natural refrigerant heat pumps
                    2.3.3.2 Assumptions for demand side
                    2.3.3.3 Calculation for demand side
           2.3.4 SUPPLY-SIDE ANALYSIS
                    FIGURE 7 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY SIDE OF LARGE-SCALE NATURAL HEAT PUMP MARKET
                    FIGURE 8 MARKET: SUPPLY-SIDE ANALYSIS
                    2.3.4.1 Calculations for supply side
                    2.3.4.2 Assumptions for supply side
                                FIGURE 9 COMPANY REVENUE ANALYSIS, 2021
           2.3.5 FORECAST

3 EXECUTIVE SUMMARY (Page No. - 44)
    TABLE 1 MARKET SNAPSHOT
    FIGURE 10 NORTH AMERICA HELD LARGEST SHARE OF MARKET IN 2021
    FIGURE 11 CARBON DIOXIDE (R-744) SEGMENT PROJECTED TO LEAD MARKET, BY NATURAL REFRIGERANT, IN 2027
    FIGURE 12 20–200 KW SEGMENT PROJECTED TO HOLD LARGEST SHARE OF MARKET, BY CAPACITY, IN 2027
    FIGURE 13 INDUSTRIAL SEGMENT EXPECTED TO DOMINATE MARKET, BY END USE, IN 2027

4 PREMIUM INSIGHTS (Page No. - 48)
    4.1 ATTRACTIVE OPPORTUNITIES IN MARKET
          FIGURE 14 CONTRIBUTION OF HEAT PUMP TECHNOLOGY IN REDUCING CARBON FOOTPRINT TO BOOST MARKET GROWTH FROM 2022 TO 2027
    4.2 MARKET, BY REGION
          FIGURE 15 NORTH AMERICA MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
    4.3 NORTH AMERICA MARKET, BY END USE AND COUNTRY
          FIGURE 16 INDUSTRIAL END USE AND US HELD LARGEST SHARES OF MARKET IN NORTH AMERICA IN 2021
    4.4 MARKET, BY NATURAL REFRIGERANT
          FIGURE 17 CARBON DIOXIDE (R-744) TO ACCOUNT FOR LARGEST MARKET SHARE, BY NATURAL REFRIGERANT, IN 2027
    4.5 MARKET, BY CAPACITY
          FIGURE 18 20–200 KW SEGMENT TO HOLD LARGEST MARKET SHARE, BY CAPACITY, IN 2027
    4.6 MARKET, BY END USE
          FIGURE 19 INDUSTRIAL SEGMENT TO DOMINATE MARKET, BY END USE, IN 2027

5 MARKET OVERVIEW (Page No. - 52)
    5.1 INTRODUCTION
    5.2 COVID-19 HEALTH ASSESSMENT
          FIGURE 20 COVID-19 GLOBAL PROPAGATION
          FIGURE 21 COVID-19 PROPAGATION IN SELECT COUNTRIES
    5.3 COVID-19 ECONOMIC ASSESSMENT
          FIGURE 22 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020
    5.4 MARKET DYNAMICS
          FIGURE 23 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.4.1 DRIVERS
                    5.4.1.1 Increasing visibility of contribution of heat pump technology in reducing carbon footprint
                    5.4.1.2 Growing focus on improving operational efficiency in industrial sector
           5.4.2 RESTRAINTS
                    5.4.2.1 Lack of awareness regarding benefits of heat pumps and heat pump standards among system vendors
           5.4.3 OPPORTUNITIES
                    5.4.3.1 Imposition of carbon tax in multiple countries
           5.4.4 CHALLENGES
                    5.4.4.1 Availability of low-cost fossil energy-based alternative technologies
    5.5 IMPACT OF COVID 19 ON MARKET
    5.6 SUPPLY CHAIN ANALYSIS
          FIGURE 24 MARKET: SUPPLY CHAIN ANALYSIS
          TABLE 2 MARKET: SUPPLY CHAIN
           5.6.1 RAW MATERIAL SUPPLIERS
           5.6.2 ORIGINAL EQUIPMENT MANUFACTURERS (OEMS)
           5.6.3 DISTRIBUTORS
           5.6.4 END USERS
    5.7 MARKET MAP
          FIGURE 25 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP: MARKET MAP
    5.8 TECHNOLOGY ANALYSIS
    5.9 INNOVATIONS & PATENT REGISTRATION
    5.10 KEY CONFERENCES AND EVENTS IN 2022 & 2023
           TABLE 3 MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.11 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
           5.11.1 REVENUE SHIFT AND NEW REVENUE POCKETS IN MARKET
                     FIGURE 26 REVENUE SHIFT OF LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP PROVIDERS
    5.12 CASE STUDY ANALYSIS
           5.12.1 DRAMMEN DISTRICT HEATING: WORLD’S LARGEST LOW GWP REFRIGERANT HEAT PUMP
    5.13 TRADE ANALYSIS
           5.13.1 EXPORT SCENARIO
                     TABLE 4 EXPORT SCENARIO FOR HS CODE 8418, BY COUNTRY, 2016–2020 (USD THOUSAND)
           5.13.2 IMPORT SCENARIO
                     TABLE 5 IMPORT SCENARIO FOR HS CODE 8418, BY COUNTRY, 2016–2020 (USD THOUSAND)
    5.14 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 27 MARKET: PORTER’S FIVE FORCES ANALYSIS
           TABLE 6 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.14.1 THREAT OF NEW ENTRANTS
           5.14.2 BARGAINING POWER OF SUPPLIERS
           5.14.3 BARGAINING POWER OF BUYERS
           5.14.4 THREAT OF SUBSTITUTES
           5.14.5 INTENSITY OF COMPETITIVE RIVALRY
    5.15 AVERAGE PRICING ANALYSIS
           5.15.1 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP: INDICATIVE CAPITAL COST
    5.16 SYNTHETIC REFRIGERANT VS NATURAL REFRIGERANT
           TABLE 7 COMPARISON BETWEEN SYNTHETIC REFRIGERANT AND NATURAL REFRIGERANT
    5.17 INSTALLED BASE OF LARGE-SCALE NATURAL REFRIGERANT HEAT PUMPS
           TABLE 8 INSTALLED BASE FOR HEAT PUMPS, BY REGION, 2020 (MILLION UNITS)
           TABLE 9 ADOPTION RATE OF LARGE-SCALE NATURAL REFRIGERANT HEAT PUMPS, BY REGION, 2020
           TABLE 10 INSTALLED BASE FOR LARGE-SCALE NATURAL REFRIGERANT HEAT PUMPS, BY REGION, 2020 (THOUSAND UNITS)
    5.18 MARKET: REGULATORY BODIES
           5.18.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                     TABLE 13 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.19 KEY STAKEHOLDERS & BUYING CRITERIA
           5.19.1 KEY STAKEHOLDERS IN BUYING PROCESS
                     FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USE
                     TABLE 14 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR END USE SEGMENTS (%)
           5.19.2 BUYING CRITERIA
                     FIGURE 29 KEY BUYING CRITERIA FOR END USE
                     TABLE 15 KEY BUYING CRITERIA FOR END-USE SEGMENTS

6 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY NATURAL REFRIGERANT (Page No. - 73)
    6.1 INTRODUCTION
          FIGURE 30 MARKET, BY NATURAL REFRIGERANT, 2021
          TABLE 16 MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
    6.2 AMMONIA (R-717)
           6.2.1 LOW CHARGE AMMONIA TECHNOLOGY IS DRIVING MARKET FOR AMMONIA (R-717)
                    TABLE 17 AMMONIA (R-717): MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.3 CARBON DIOXIDE (R-744)
           6.3.1 CARBON DIOXIDE (R-744) HAS HIGH VOLUMETRIC COOLING CAPACITY
                    TABLE 18 CARBON DIOXIDE (R-744): MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.4 HYDROCARBONS
           6.4.1 HYDROCARBONS HAVE UNIQUE PROPERTIES AND COOLING PERFORMANCE
                    TABLE 19 HYDROCARBONS: MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.5 OTHER REFRIGERANTS
          TABLE 20 OTHER REFRIGERANTS: MARKET, BY REGION, 2020–2027 (USD MILLION)

7 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY (Page No. - 78)
    7.1 INTRODUCTION
          FIGURE 31 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY, 2021
          TABLE 21 MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
    7.2 20–200 KW
           7.2.1 INCREASING USE IN COMMERCIAL SECTOR IS DRIVING MARKET FOR 20–200 KW HEAT PUMPS
                    TABLE 22 20–200 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
    7.3 200–500 KW
           7.3.1 200–500 KW HEAT PUMPS ARE MAINLY USED IN LIGHT COMMERCIAL INDUSTRIAL SECTOR
                    TABLE 23 200–500 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
    7.4 500–1,000 KW
           7.4.1 500–1,000 KW HEAT PUMPS ARE CHIEFLY USED IN INDUSTRIAL SECTOR
                    TABLE 24 500–1,000 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
    7.5 ABOVE 1,000 KW
           7.5.1 FOCUS ON REDUCING OPERATING COSTS IS FUELING DEMAND FOR HEAT PUMPS ABOVE 1,000 KW
                    TABLE 25 ABOVE 1,000 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)

8 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE (Page No. - 83)
    8.1 INTRODUCTION
          FIGURE 32 MARKET, BY END USE, 2021
          TABLE 26 MARKET, BY END USE, 2020–2027 (USD MILLION)
    8.2 COMMERCIAL
          TABLE 27 COMMERCIAL: MARKET, BY REGION, 2020–2027 (USD MILLION)
          TABLE 28 COMMERCIAL: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
           8.2.1 EDUCATIONAL INSTITUTES
                    8.2.1.1 Adoption of heat pump technology in modern education infrastructure fueling market growth
                                TABLE 29 EDUCATIONAL INSTITUTES: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP COMMERCIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.2.2 HOSPITALITY SPACES
                    8.2.2.1 Increasing tourism activities driving market growth
                                TABLE 30 HOSPITALITY SPACES: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP COMMERCIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.2.3 OTHER COMMERCIAL BUILDINGS
                    TABLE 31 OTHER COMMERCIAL BUILDINGS: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP COMMERCIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
    8.3 INDUSTRIAL
          TABLE 32 INDUSTRIAL: MARKET, BY REGION, 2020–2027 (USD MILLION)
          TABLE 33 INDUSTRIAL: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
           8.3.1 FOOD & BEVERAGES
                    8.3.1.1 Increasing demand for packed food projected to fuel market growth
                                TABLE 34 FOOD & BEVERAGES: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP INDUSTRIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.3.2 PULP & PAPER
                    8.3.2.1 Rising demand for packaging is boosting market growth
                                TABLE 35 PULP & PAPER: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP INDUSTRIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.3.3 CHEMICALS & PETROCHEMICALS
                    8.3.3.1 Transition toward sustainability and decarbonization goals driving market growth
                                TABLE 36 CHEMICALS & PETROCHEMICALS: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP INDUSTRIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.3.4 OTHER INDUSTRIES
                    TABLE 37 OTHER INDUSTRIES: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP INDUSTRIAL MARKET, BY REGION, 2020–2027 (USD MILLION)

9 REGIONAL ANALYSIS (Page No. - 92)
    9.1 INTRODUCTION
          FIGURE 33 REGIONAL SNAPSHOT: NORTH AMERICA IS PROJECTED TO WITNESS THE HIGHEST GROWTH DURING THE FORECAST PERIOD
          FIGURE 34 MARKET, BY REGION, 2021
          TABLE 38 MARKET, BY REGION, 2020–2027 (USD MILLION)
          TABLE 39 MARKET, BY REGION, 2020–2027 (THOUSAND UNITS)
    9.2 NORTH AMERICA
          FIGURE 35 NORTH AMERICA: MARKET REGIONAL SNAPSHOT
           9.2.1 BY NATURAL REFRIGERANT
                    TABLE 40 NORTH AMERICA: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.2.2 BY CAPACITY
                    TABLE 41 NORTH AMERICA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                    TABLE 42 20–200 KW: NORTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 43 200–500 KW: NORTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 44 500–1,000 KW: NORTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 45 ABOVE 1,000 KW: NORTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.2.3 BY END USE
                    TABLE 46 NORTH AMERICA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 47 NORTH AMERICA: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 48 NORTH AMERICA: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 49 NORTH AMERICA: COMMERCIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 50 NORTH AMERICA: INDUSTRIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.2.4 BY COUNTRY
                    TABLE 51 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.2.4.1 US
                               9.2.4.1.1 Demand for energy-efficient water heating systems from commercial end users to bolster market growth
                                              TABLE 52 US: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 53 US: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.2.4.2 Canada
                               9.2.4.2.1 Focus on adoption of energy wastage reduction technologies to fuel demand for heat pumps
                                              TABLE 54 CANADA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 55 CANADA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.2.4.3 Mexico
                               9.2.4.3.1 Energy-saving initiatives to drive need for heat pumps
                                              TABLE 56 MEXICO: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 57 MEXICO: MARKET, BY END USE, 2020–2027 (USD MILLION)
    9.3 ASIA PACIFIC
          FIGURE 36 ASIA PACIFIC: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET SNAPSHOT
           9.3.1 BY NATURAL REFRIGERANT
                    TABLE 58 ASIA PACIFIC: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.3.2 BY CAPACITY
                    TABLE 59 ASIA PACIFIC: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                    TABLE 60 20–200 KW: ASIA PACIFIC MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 61 200–500 KW: ASIA PACIFIC MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 62 500–1,000 KW: ASIA PACIFIC MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 63 ABOVE 1,000 KW: ASIA PACIFIC MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.3.3 BY END USE
                    TABLE 64 ASIA PACIFIC: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 65 ASIA PACIFIC: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 66 ASIA PACIFIC: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 67 ASIA PACIFIC: COMMERCIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 68 ASIA PACIFIC: INDUSTRIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.3.4 BY COUNTRY
                    TABLE 69 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.3.4.1 China
                               9.3.4.1.1 Government focus on energy-efficient systems fuels demand for large-scale natural refrigerant heat pumps
                                              TABLE 70 CHINA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 71 CHINA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.3.4.2 Japan
                               9.3.4.2.1 Energy conservation initiatives by government to augment market growth
                                              TABLE 72 JAPAN: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 73 JAPAN: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.3.4.3 South Korea
                               9.3.4.3.1 Surging demand for energy-efficient heating technology to propel market growth
                                              TABLE 74 SOUTH KOREA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 75 SOUTH KOREA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.3.4.4 Rest of Asia Pacific
                                TABLE 76 REST OF ASIA PACIFIC: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                TABLE 77 REST OF ASIA PACIFIC: MARKET, BY END USE, 2020–2027 (USD MILLION)
    9.4 EUROPE
           9.4.1 BY NATURAL REFRIGERANT
                    TABLE 78 EUROPE: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.4.2 BY CAPACITY
                    TABLE 79 EUROPE: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
           9.4.3 BY END USE
                    TABLE 80 EUROPE: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 81 EUROPE: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 82 EUROPE: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
           9.4.4 BY COUNTRY
                    TABLE 83 EUROPE: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.4.4.1 Germany
                               9.4.4.1.1 Developments in automotive, mechanical engineering, and metal processing sectors to drive market growth
                                              TABLE 84 GERMANY: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 85 GERMANY: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.4.4.2 UK
                               9.4.4.2.1 Renewable energy transition to propel demand for large-scale natural refrigerant heat pumps
                                              TABLE 86 UK: MARKET,  BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 87 UK: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.4.4.3 France
                               9.4.4.3.1 Rising utilization of energy-efficient heating systems to boost market growth
                                              TABLE 88 FRANCE: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 89 FRANCE: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.4.4.4 Rest of Europe
                                TABLE 90 REST OF EUROPE: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                TABLE 91 REST OF EUROPE: MARKET, BY END USE, 2020–2027 (USD MILLION)
    9.5 SOUTH AMERICA
           9.5.1 BY NATURAL REFRIGERANT
                    TABLE 92 SOUTH AMERICA: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.5.2 BY CAPACITY
                    TABLE 93 SOUTH AMERICA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                    TABLE 94 20–200 KW: SOUTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 95 200–500 KW: SOUTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 96 500–1,000 KW: SOUTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 97 ABOVE 1,000 KW: SOUTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.5.3 BY END USE
                    TABLE 98 SOUTH AMERICA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 99 SOUTH AMERICA: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 100 SOUTH AMERICA: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 101 SOUTH AMERICA: COMMERCIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 102 SOUTH AMERICA: INDUSTRIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.5.4 BY COUNTRY
                    TABLE 103 SOUTH AMERICA:MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.5.4.1 Argentina
                               9.5.4.1.1 Government initiatives to promote sustainability to boost market growth
                                              TABLE 104 ARGENTINA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 105 ARGENTINA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.5.4.2 Brazil
                               9.5.4.2.1 Transition toward clean energy to fuel market growth
                                              TABLE 106 BRAZIL: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 107 BRAZIL: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.5.4.3 Rest of South America
                                TABLE 108 REST OF SOUTH AMERICA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                TABLE 109 REST OF SOUTH AMERICA: MARKET, BY END USE, 2020–2027 (USD MILLION)
    9.6 MIDDLE EAST & AFRICA
           9.6.1 BY NATURAL REFRIGERANT
                    TABLE 110 MIDDLE EAST & AFRICA: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.6.2 BY CAPACITY
                    TABLE 111 MIDDLE EAST & AFRICA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                    TABLE 112 20–200KW: MIDDLE EAST & AFRICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 113 200–500 KW: MIDDLE EAST & AFRICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 114 500–1,000 KW: MIDDLE EAST & AFRICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 115 ABOVE 1,000 KW: MIDDLE EAST & AFRICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.6.3 BY END USE
                    TABLE 116 MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 117 MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 118 MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 119 MIDDLE EAST & AFRICA: COMMERCIAL LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 120 MIDDLE EAST & AFRICA: INDUSTRIAL LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.6.4 BY COUNTRY
                    TABLE 121 MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.6.4.1 Saudi Arabia
                               9.6.4.1.1 Increasing investments in industrial sector to boost market growth
                                              TABLE 122 SAUDI ARABIA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 123 SAUDI ARABIA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.6.4.2 South Africa
                               9.6.4.2.1 Abundance of natural resources and expansion of transportation sector to support market growth
                                              TABLE 124 SOUTH AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 125 SOUTH AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.6.4.3 Rest of Middle East & Africa
                                TABLE 126 REST OF MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                TABLE 127 REST OF MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE, 2020–2027 (USD MILLION)

10 COMPETITIVE LANDSCAPE (Page No. - 133)
     10.1 OVERVIEW
             FIGURE 37 KEY DEVELOPMENTS IN LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, 2018 TO 2022
     10.2 SHARE ANALYSIS OF KEY PLAYERS, 2021
             TABLE 128 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET: DEGREE OF COMPETITION
             FIGURE 38 SHARE ANALYSIS OF TOP PLAYERS IN LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, 2021
     10.3 MARKET EVALUATION FRAMEWORK
             TABLE 129 MARKET EVALUATION FRAMEWORK, 2018–2021
     10.4 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS, 2018–2021
             FIGURE 39 SEGMENTAL REVENUE ANALYSIS, 2018–2021
     10.5 RECENT DEVELOPMENTS
             10.5.1 DEALS
                        10.5.1.1 Large-scale natural refrigerant heat pumps market: deals, 2018–2022
             10.5.2 OTHERS
                        10.5.2.1 Large-scale natural refrigerant heat pump market: others, 2018–2022
     10.6 COMPETITIVE LEADERSHIP MAPPING
             10.6.1 STAR
             10.6.2 EMERGING LEADER
             10.6.3 PERVASIVE
             10.6.4 PARTICIPANT
                        FIGURE 40 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
                        TABLE 130 COMPANY NATURAL REFRIGERANT FOOTPRINT
                        TABLE 131 COMPANY END USE FOOTPRINT
                        TABLE 132 COMPANY REGION FOOTPRINT

11 COMPANY PROFILES (Page No. - 144)
     11.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
             11.1.1 SIEMENS ENERGY
                        TABLE 133 SIEMENS ENERGY: BUSINESS OVERVIEW
                        FIGURE 41 SIEMENS ENERGY: COMPANY SNAPSHOT
                        TABLE 134 SIEMENS ENERGY: DEALS
             11.1.2 JOHNSON CONTROLS
                        TABLE 135 JOHNSON CONTROLS: BUSINESS OVERVIEW
                        FIGURE 42 JOHNSON CONTROLS: COMPANY SNAPSHOT
                        TABLE 136 JOHNSON CONTROLS: DEALS
                        TABLE 137 JOHNSON CONTROLS: OTHERS
             11.1.3 EMERSON ELECTRIC CO.
                        TABLE 138 EMERSON ELECTRIC CO.: BUSINESS OVERVIEW
                        FIGURE 43 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
             11.1.4 GEA GROUP AKTIENGESELLSCHAFT
                        TABLE 139 GEA GROUP AKTIENGESELLSCHAFT: BUSINESS OVERVIEW
                        FIGURE 44 GEA GROUP AKTIENGESELLSCHAFT: COMPANY SNAPSHOT
                        TABLE 140 GEA GROUP AKTIENGESELLSCHAFT: OTHERS
             11.1.5 MITSUBISHI ELECTRIC CORPORATION
                        TABLE 141 MITSUBISHI ELECTRIC CORPORATION: BUSINESS OVERVIEW
                        FIGURE 45 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
                        TABLE 142 MITSUBISHI ELECTRIC CORPORATION: DEALS
             11.1.6 MAN ENERGY SOLUTIONS SE
                        TABLE 143 MAN ENERGY SOLUTIONS SE: BUSINESS OVERVIEW
             11.1.7 GUANGDONG PHNIX ECO-ENERGY SOLUTION LTD.
                        TABLE 144 GUANGDONG PHNIX ECO-ENERGY SOLUTION LTD.: BUSINESS OVERVIEW
             11.1.8 ARANER
                        TABLE 145 ARANER: BUSINESS OVERVIEW
             11.1.9 STAR REFRIGERATION
                        TABLE 146 STAR REFRIGERATION: BUSINESS OVERVIEW
             11.1.10 EMICON AC S.P.A.
                        TABLE 147 EMICON AC S.P.A.: BUSINESS OVERVIEW
             11.1.11 CLADE ENGINEERING SYSTEMS LTD
                        TABLE 148 CLADE ENGINEERING SYSTEMS LTD: BUSINESS OVERVIEW
             11.1.12 AGO GMBH ENERGIE + ANLAGEN
                        TABLE 149 AGO GMBH ENERGIE + ANLAGEN: BUSINESS OVERVIEW
             11.1.13 LYNC
                        TABLE 150 LYNC: BUSINESS OVERVIEW
             11.1.14 SKADEC GMBH
                        TABLE 151 SKADEC GMBH: BUSINESS OVERVIEW
             11.1.15 BUNDGAARD REFRIGERATION
                        TABLE 152 BUNDGAARD REFRIGERATION: BUSINESS OVERVIEW
     11.2 OTHER PLAYERS
             11.2.1 MAYEKAWA MFG. CO., LTD.
             11.2.2 FENAGY A/S
             11.2.3 PURE THERMAL
             11.2.4 TEKO GMBH
             11.2.5 ENERBLUE SR

*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

12 APPENDIX (Page No. - 173)
     12.1 INSIGHTS OF INDUSTRY EXPERTS
     12.2 DISCUSSION GUIDE
     12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     12.4 AVAILABLE CUSTOMIZATIONS
     12.5 RELATED REPORTS
     12.6 AUTHOR DETAILS

This study involved four major activities in estimating the current size of the large-scale natural refrigerant heat pumps market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases such as water and wastewater management data, industry publications, several newspaper articles, Statista Industry Journal, Factiva, and water & environment journal to identify and collect information useful for a technical, market-oriented, and commercial study of the large-scale natural refrigerant heat pumps market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases. 

Primary Research

The large-scale natural refrigerant heat pumps market comprises several stakeholders such as companies related to the industry, component manufacturing companies for large-scale natural refrigerant heat pump, government & research organizations, organizations, forums, alliances & associations, large-scale natural refrigerant heat pumps providers, state & national energy authorities, dealers & suppliers, and vendors. The demand side of the market is characterized by increased investment in the residential, commercial, and industrial sector. The supply side is characterized by investments & expansion and partnerships & collaborations among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:

Large-scale Natural Refrigerant Heat Pump Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global large-scale natural refrigerant heat pumps market and its dependent submarkets. These methods were also extensively used to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Large-scale natural refrigerant heat pumps Market Size: Bottom-Up Approach

Large-scale Natural Refrigerant Heat Pump Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the large-scale natural refrigerant heat pumps market.

Objectives of the Study

  • To forecast and describe the large-scale natural refrigerant heat pump market size, by natural refrigerant, capacity, end use, and region, in terms of value
  • To provide detailed information regarding the major drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To estimate the size of the market in terms of value
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, future expansions, and contributions to the overall market
  • To provide post-pandemic estimation for the large-scale natural refrigerant heat pump market and analyze the impact of the pandemic on the overall market and value chain
  • To forecast the growth of the large-scale heat pump market with respect to five major regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
  • To analyze market opportunities for stakeholders and the competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their respective market shares and core competencies
  • To analyze competitive developments such as investments & expansions, mergers & acquisitions, product launches, contracts & agreements, and joint ventures & collaborations in the large-scale natural refrigerant heat pump market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to your specific needs. The following customization options are available for the report:

Company Information

  • Product Matrix, which provides a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players 
Large-scale Natural Refrigerant Heat Pump Market Size,  Share & Growth Report
Report Code
EP 8100
Published ON
May, 2022
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