PUBLISHER: The Business Research Company | PRODUCT CODE: 1659203
PUBLISHER: The Business Research Company | PRODUCT CODE: 1659203
A large-scale natural refrigerant heat pump utilizes natural materials to transfer heat between a source and a sink. This heat pump relies on a refrigerant to facilitate the movement, conveyance, and release of heat.
Large-scale natural refrigerant heat pumps come in various capacities such as 20-200 kW, 200-500 kW, 500-1,000 kW, and exceeding 1,000 kW. The 20-200 kW range generates an output (heat) within the specified range and finds application in refrigeration units, air conditioning systems, freezers, and similar devices. These systems employ refrigerants like ammonia (R-717), carbon dioxide (R-744), and hydrocarbons, tailored for use in commercial and industrial sectors.
The large scale natural refrigerant heat pump market research report is one of a series of new reports from The Business Research Company that provides large scale natural refrigerant heat pump market statistics, including large scale natural refrigerant heat pump industry global market size, regional shares, competitors with a large scale natural refrigerant heat pump market share, detailed large scale natural refrigerant heat pump market segments, market trends and opportunities, and any further data you may need to thrive in the large scale natural refrigerant heat pump industry. This large-scale natural refrigerant heat pump market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future
The large-scale natural refrigerant heat pump market size has grown strongly in recent years. It will grow from $6.25 billion in 2024 to $6.85 billion in 2025 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to global energy transition, public awareness and consumer demand, market competition and innovation, urbanization and building sector growth, demonstration projects and pilot studies.
The large-scale natural refrigerant heat pump market size is expected to see strong growth in the next few years. It will grow to $10 billion in 2029 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to stringent environmental regulations, accelerated phasing out of synthetic refrigerants, rising environmental consciousness, enhanced energy efficiency demands, renewable energy integration. Major trends in the forecast period include environmental sustainability, regulatory shifts, energy efficiency focus, global market competition, urbanization and infrastructure needs, demonstration projects.
The growth of government initiatives aimed at improving energy efficiency in the industrial sector is propelling the large-scale natural refrigerant heat pump market. Energy efficiency entails using less energy to achieve the same outcome, resulting in lower energy costs and reduced pollution. Various countries' governments are emphasizing initiatives that promote energy efficiency to decrease energy consumption. The large-scale natural refrigerant heat pump offers an energy-efficient and sustainable alternative to conventional heat pumps by using natural refrigerants like hydrocarbons to mitigate harmful environmental effects. For example, in 2022, the International Energy Agency (IEA), a France-based intergovernmental organization, reported that global investment in energy efficiency within the industry reached $24 billion, an increase from $23 billion in 2021. Consequently, the rise in government initiatives to improve energy efficiency is anticipated to drive the large-scale natural refrigerant heat pump market.
The rising focus on energy efficiency is anticipated to drive the expansion of the large-scale natural refrigerant heat pump market. Energy efficiency entails minimizing unnecessary energy waste by enhancing the processes of energy conversion and utilization. Natural refrigerant heat pump systems that are energy-efficient operate more effectively, leading to reduced energy consumption. This decrease in energy use results in lower operational costs for businesses and industries that utilize these heat pump systems. For example, Eurostat, a government organization based in Luxembourg, reported that in 2022, final energy consumption in the EU reached 37,771 PJ, indicating a 3.9% decline compared to 2021. As a result, the growing emphasis on energy efficiency is expected to propel the growth of the large-scale natural refrigerant heat pump market.
Leading companies in the large-scale natural refrigerant heat pump market are innovating new products, such as the reversible air-to-water propane (R290) heat pump, to address the increasing demand for sustainable heating and cooling solutions. This type of heat pump provides both heating and cooling by extracting heat from the outdoor air for water heating in winter and removing heat from water to cool the air in summer. For instance, in July 2023, Rhoss, an Italy-based manufacturer specializing in air conditioning and air handling systems, introduced the POKER-PI and POKER-P models. The POKER-PI series is equipped with an inverter scroll compressor, enabling variable-speed operation for improved efficiency and flexibility. Conversely, the POKER-P series features an on/off scroll compressor, offering a more straightforward and traditional operational approach.
Leading companies in the large-scale natural refrigerant heat pump sector are prioritizing product innovation to fortify their market positions. An exemplary innovation in this realm is the ZIRAN Pro KWR series, a line of reversible air-to-water heat pumps designed for commercial and industrial applications, offering a heating capacity spanning from 40 kW to 270 kW. For instance, in July 2023, Keyter, a Spanish conglomerate specializing in system design and manufacturing, introduced the ZIRAN Pro KWR. This heat pump utilizes natural gas R290 (propane) as a refrigerant, ensuring environmental friendliness and energy efficiency. Its features include Full-Inverter technology, reduced refrigerant charge, leak detection, and superior performance, contributing to exceptional energy savings. Designed for high-temperature water production, this pump operates quietly and incorporates intelligent regulation for optimal defrost processes.
In April 2023, Carrier, a prominent US company specializing in heating, ventilation, air conditioning, refrigeration, and fire and security equipment, completed the acquisition of Viessmann Groups for €12 billion ($13 billion). This strategic move involves acquiring Viessmann Climate Solutions while planning to divest from its Fire and Security as well as Commercial Refrigeration segments. Carrier aims to refine its portfolio, focusing on smart climate and energy solutions, accelerating its pursuit to emerge as the foremost global leader in this sector. Viessmann Group, based in Germany, is renowned for its expertise in manufacturing heat pumps and associated technologies.
Major companies operating in the large-scale natural refrigerant heat pump market are Siemens Energy AG, Johnson Controls, Guangdong Phnix Eco-Energy Solution Ltd., Gea Group Aktiengesellschaft, Mitsubishi Electric Corporation, Man Energy Solutions SE, Star Refrigeration, Emicon, Clade Engineering Systems Ltd., Ago GmbH Energie + Anlagen, Lync, Skadec GmbH, Bundgaard Refrigeration, Mayekawa Mfg. Co. Ltd., Fenagy A/S, Pure Thermal, TEKO Gesellschaft fur Kaltetechnik MbH, Enerblue Srl, Emerson Electric Co., Danfoss A/S, Bitzer SE, Baltimore Aircoil Company, Alfa Laval AB, Carrier Corporation, Trane Technologies PLC, Thermowave GmbH, LU-VE Group, Swegon Group AB, Guntner GmbH & Co. KG
North America was the largest region in the large-scale natural refrigerant heat pump market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the large-scale natural refrigerant heat pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the large-scale natural refrigerant heat pump market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The large-scale natural refrigerant heat pump market consists of sales of refrigerants and heat pumps. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Large-Scale Natural Refrigerant Heat Pump Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on large-scale natural refrigerant heat pump market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for large-scale natural refrigerant heat pump ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The large-scale natural refrigerant heat pump market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.