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Heat Pumps Market (CAGR of 7.9%): Future Prospects, Size and Driver and Forecast to 2027
January 6, 2021 | by admin |
The heat pumps market was valued at US$ 50.25 Bn in 2018 and expected to grow at a CAGR of 7.9% during the forecast period from 2019 to 2027.
Market Insights
Increased emission of greenhouse gases worldwide will enhance the heat pumps market
Increased emission of greenhouse gases and rising government regulations for energy efficiency worldwide will enhance the demand for heat pumps market throughout the forecast period from 2019-2027. Increasing need for renewable energy sources along with rapid infrastructural development are some another factors driving the market growth. In 2018, Asia Pacific dominates the global heat pumps market backed by North America.