The global Large-scale Natural Refrigerant Heat Pump Market size is projected to reach a CAGR of 12.3% from 2023-2030.
Large-scale natural refrigerant heat pumps are a variety of heat pumps that are highly adopted as natural and environmentally friendly refrigerants measure. These pumps help in alleviating greenhouse gas emissions from air-conditioning, refrigeration, and heat-pumping 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 centers.
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A heat pump is 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 and this is the major factor hindering the growth of the market.
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.
Prominent Players
· Siemens Energy
· Johnson Control
· Emerson Electric Co.
· GEA Group Aktiengesellschaft
· Mitsubishi Electric Corporation
· MAN Energy Solutions SE
· Guangdong PHNIX Eco-energy Solution Ltd.
· Star Refrigeration
· Emicon AC S.p.a.
· Clade Engineering Systems Ltd
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North America to Dominate the Market
· The North American region is estimated to be the largest market for the large-scale natural refrigerant heat pump market, followed by Asia Pacific. The North American region is projected to be the fastest-growing market during the forecast period.
· The growth of the North American large-scale natural refrigerant heat pump market is expected to be driven by supportive policies implemented by the government for the promotion of large-scale natural refrigerant heat pumps.
Large-scale Natural Refrigerant Heat Pump Market Segmentation:
On the basis of capacity
· 20–200 kW
· 200–500 kW
· 500–1,000 kW
· Above 1,000 kW
On the basis of natural refrigerants
· Ammonia (R-717)
· Carbon Dioxide (R-744)
· Hydrocarbons
· Other refrigerants
On the basis of end-use
· Commercial
· Industrial
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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