Europe Air Source Heat Pump Market

Europe Air Source Heat Pump Market Analysis, By Product (Air to Air, Air to Water), By Application (Residential – Single Family, Multi Family, Residential, by Product – Domestics Hot Water Heat Pump, Room Heat Pump, Commercial -Education, Healthcare, Retail, Logistics & Transportation, Offices), & Country – Market Insights 2022-2032

Analysis of Europe Air Source Heat Pump Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Europe Air Source Heat Pump Market Outlook

The Europe air source heat pump market is valued to be worth US$ 14.01 Billion for 2022 and during the forecast period it is anticipated to grow at a CAGR of 7.8%. In 2032, the European market for air source heat pump is expected to be worth US$ 29.69 Billion.

The lowering of running costs, maintenance, and better safety make the air source heat pump useful for the end users. Installed outside the home, the pump provides interior space heating and cooling in opposite climates. The pump heats the water in milder climates efficiently.

The rising demand for the air source heat pump in Europe is due to the region’s changing climate. There are four climate zones in Europe that are dry climates, temperature climates, humid continental climates, and polar climates. Therefore, the need for product that helps people in changing the interior climate of their residents is a must, fuelling the demand for air source heat pump in Europe.

The fuelling demand is also attributed to the advanced design and efficient temperature control provided by the vendors. While the European region goes through the long winters and short summers, the air source heat pump keeps on warming the interior with its advanced mechanism.

Another factor that flourishes the demand for air source heat pumps is its longer life span that saves money and enhances sustainability. The average lifespan is between 14 to 15 years which makes it a better alternative for heaters and air conditioners. The longer shelf life makes this machine the first choice for people residing in extreme weather conditions.

In addition to its financial and technological benefits, the device also contributes to reducing carbon emissions because air source heat pumps efficiently convert energy into heat. The ability to reverse the heating process to provide cooling during summer makes it a win-win situation for the end users.

Report Attributes


Market Size (2022)

US$ 14.01 Billion

Projected Market Value (2032)

US$ 29.69 Billion

Global Market Growth Rate


Key Companies Profiled

  • Vaillant Group
  • Swegon Group AB, Trane
  • NIBE Industrier AB, Viessmann
  • A.O. Smith
  • Carrier
  • Bosch Thermotechnology Ltd
  • Rheem Manufacturing Company
  • Finn Geotherm UK Limited
  • LG
  • Hitachi Co.
  • Samsung Industries

Government programs support market growth through friendly norms

Europe is one of the regions that has suffered a lot due to climate change. Through different natural calamities, the economy and logistical structures have faced severe damage. Therefore, the governments around the region support businesses that help them reduce carbon emissions. Air source heat pump vendors get subsidies to increase their performance and the saved capital gets invested in research and development programs.

The higher product adoption pushes the government to ease the approval norms while providing business loans to innovative vendors for business expansion. Besides, the rising government incentives, along with product installation in public establishments such as schools and hospitals may positively influence the regional landscape.

Europe tops the tally with changing climate and winters getting harsh

There are several uncertainties surrounding the steady expansion of the air source heat pump business in Europe. Fact.MR responds to the question of why it is now crucial for vendors to understand and evaluate the European market independently.

The region with complex weather and topography has led to extreme climate conditions that damage people’s health and end up affecting the tourist economy at a larger base. Therefore, efficient cooling and heating devices are in high demand in the region.

Rising inclination towards clean energy technologies thrives the market expansion

Europe holds one of the extreme climate conditions where citizens are getting aware of the higher pollution leading to a new climate transformation. Therefore, the adoption of sustainable technologies that deliver work with efficiency is high. The continuously changing European weather along with the new air source heat pumps come up with additional equipment that helps you install these on the outside of end user’s residence.

High Upfront Cost & Installation Spend Limit the Growth of Air Source Heat Pump Market

Air source heat pumps have a high upfront cost along with increased installation charges. This limits the growth of air source heat pump market. the proliferation of other clean energy technologies such as solar heating and district heating, coupled with their rapid integration across a range of capacity applications may impede the demand for air source heat pumps.

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Competitive landscape highlights only certain players
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Segmentation Insights

Why Do air to water heat pump segment Account for Most Revenue Generation in the Market?

The air-to-water heat pump segment is anticipated to witness a fiery growth during the forecast period. The growth is attributed to the higher integration capabilities along with the hydronic underfloor heating systems. These systems provide efficient heating without any higher carbon emissions while the design of these pumps keeps on changing for better heating.

Countries such as Switzerland and France adopt this segment at a higher rate as these regions face the long winters. Water is a necessity and in polar regions of Europe, the adoption of any tool for water heating becomes important. Some people use heaters to heat the water while an efficient environment-friendly way to heat water is through the air source heat pump.

The product delivers better than its alternatives due to its integration capability with hydronic underfloor heating systems and radiators to take control of the temperature of any radius. These factors fuel the overall sales of air-to-water air-source heat pump.

Other than this, the air-to-air segment from the product category also performs significantly well as an efficient medium of providing heat in a residential or commercial space. Though, the higher number of alternatives of this segment limits at a cheaper cost range limits its growth in the Europe air source heat pump market.

Why is Commercial Segment a Popular Segment in Europe’s air source heat pump Market?

The inclusivity of the commercial segment makes it the top application type in the Europe air source heat pump market. From learning spaces to healthcare, retail, hospitality, and office spaces, the application of commercial heat pumps is increasing in the European region.

The longer winters demand for a constant supply of hot water and air in the healthcare system to protect patients from any illness caused by winter waves. Europe which is known for its tourist spots has waves of tourists coming in every year.

Most of these tourists are not comfortable with the extremely cold streams and require hot air and water pumps to settle in. Hence, the hospitality sector consumes the larger portion of the European market for the air-source heat pump market.

While schools and colleges also protect their students and other faculties from the chilling winter. Therefore, the higher number of entities under the commercial application segment makes it large and consumes the most out of the Europe air source heat pump market.

Increasing the application of supportive authorities to reinforce efficiency and improve heat and energy demand across industrial and commercial applications including educational institutions, offices, and healthcare among others will transform the industry outlook. This fuels the overall sales of the air source heat pump in the market.

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Comparative View of Adjacent Europe Air Source Heat Pump Market

Europe Air Source Heat Pump Market :


Europe Air Source Heat Pump Market




Market Value


US$ 20.40 Bn

Growth Factor

The changing climate in the European region along with the harsh winter streams are pushing people to adopt an efficient way of heating the water and living spaces. That fuels the demand for air source heat pumps.


The advanced motor and design systems that are prepared for better heating and cooling ergonomics create opportunities for vendors to come up with something advanced and better for the higher sales.

Key Trends

The climate change followed by the government regulation on commercial as well as personal spaces over the use of AC and high energy-consuming heaters has led people to adopt heat pumps to raise sustainability.

Industrial Solar Heater Market :


Industrial Solar Heater Market




Market Value


US$ 948.57 Mn

Growth Factor

Commercial solar water heating system holds high performance and low-cost, making them the first choice for small and mid-range entities such as hospitals, hotels, hostels, and commercial spaces


Governments around the world have started providing subsidies and tax cuts for industries that adopt solar energy alternatives that create opportunities for the market.

Key Trends

The Paris Declaration has established the International Solar Alliance (ISA) states that the countries share the collective approach to undertake innovative and concerted efforts to reduce the cost of finance

Commercial Griddle Market :


Commercial Griddle Market




Market Value


US$ 630.88 Mn

Growth Factor

The rising sales of advanced kitchenware and appliances along with the higher penetration of open restaurants and BBQs are thriving the demand for commercial griddles.


And advanced heater and efficient heating for specific grilling is creating opportunities for the market. For eg. Teppanyaki grills for specialized steak grilling.

Key Trends

The advanced functioning in terms of energy is offering better protection and efficiency that further helps the kitchen in terms of sustaining the fuel chart.

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Competitive Landscape

Europe’s air resource heat pump market has giants operating in order to deliver the best heating and cooling solutions for the end users. The focus of these key players is on improving the overall efficiency while experimenting with the materials used. To further strengthen their position in the market, the market players are implementing a variety of strategies, including mergers and acquisitions, partnerships, innovations, and product launches, such as the launch of products.

The Europe air source heat pump market is extremely fragmented, with most of the players being local or regional. Players in the market are concentrating on launching cutting-edge products and expanding geographically.

Recent Development :


Company Name



June 2022



Hitachi Cooling & Heating has developed simply to install, simple to commission and most importantly simple to operate units that are of the highest quality, efficiency and have very low noise levels. The range involves Yutaki M, Yutaki S80, Yutaki S Combi, Yutaki S. These water heaters are air sourced and provide hot water to the residential end users at an efficient rate.

October 2022



The LG has launched its new Therma V range which is perfect for new-build homes. This new air source heat pump comes with low-temperature split and hydro split technology that helps the end user heat the water along with saving electricity for them.

July 2021



Samsung has continued the EHS TDM range by introducing the EHS TDM Plus which is a single outdoor unit with the same refrigerant and that is integrated with the conditioner and a hydro unit. The company claims that the pump has simpler and more space-efficient installation as it becomes the one efficient system for all the heating-cooling applications.

Key Segments

  • By Product :

    • Air to Air
    • Air to Water
  • By Application :

    • Residential
      • Single Family
      • Multi Family
      • Residential, By Product
        • Domestic Hot Water Heat Pump
        • Room Heat Pump
    • Commercial
      • Education
      • Healthcare
      • Retail
      • Logistics & Transportation
      • Offices
      • Hospitality
      • Others
    • By Country :

      • Germany
      • Italy
      • France
      • Spain
      • U.K.
      • Russia
      • BENELUX
      • Rest of Europe

- FAQs -

The Europe air source heat pump market size is anticipated to be over US$ 14.01 Bn in 2022.

The Europe air source heat pump market is expected to surpass US$ 29.69 Bn by 2032.

The Europe air source heat pump market is predicted to grow at a CAGR of 7.8% through 2032.

Air-to-water heating pump tops the Europe air source heat pump market.

Europe Air Source Heat Pump Market

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