Industrial Heat Pumps Industry Analysis:GAGR is expected to be 8.7% in the next few years

A Heat Pump is a device that provides heat energy from a source of heat to a destination called a "heat sink". Heat pumps are designed to move thermal energy opposite to the direction of spontaneous heat flow by absorbing heat from a cold space and releasing it to a warmer one. A heat pump uses some amount of external power to accomplish the work of transferring energy from the heat source to the heat sink.

In the industrial process, a large amount of waste heat is generated, and the waste heat is reused and supplied to the factory for use, which is a very energy-saving and environmentally friendly way.

According to the new market research report “Industrial Heat Pumps - Global Market Insights and Sales Trends 2024”, published by QYResearch, the global Industrial Heat Pumps market size is projected to reach USD 1.02 billion by 2029, at a CAGR of 8.7% during the forecast period.

• Global Industrial Heat Pumps Market Size(US$ Mn), 2018-2029

Source: QYResearch, “Industrial Heat Pumps - Global Market Insights and Sales Trends 2024”

• Global Industrial Heat PumpsTop18 Players Ranking and Market Share（Based on data of 2021, Continually updated）

Source: QYResearch, “Industrial Heat Pumps - Global Market Insights and Sales Trends 2024”

The global key manufacturers of Industrial Heat Pumps include Frigopol, Combitherm, Friotherm , ENGIE Refrigeration, Keling Energy Saving, Star Refrigeration, Lingye Energy Saving Technology, OCHSNER, NKXTA , Zhengxu New Energy Equipment Technology, etc. In 2021, the global top five players had a share approximately 39.0% in terms of revenue.

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