Table of Content

1 INTRODUCTION (Page No. - 27)
    1.1 STUDY OBJECTIVES
    1.2 DEFINITION
           1.2.1 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY NATURAL REFRIGERANT: INCLUSIONS & EXCLUSIONS
           1.2.2 MARKET, BY CAPACITY: INCLUSIONS & EXCLUSIONS
           1.2.3 MARKET, BY END USE: INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATION
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 32)
    2.1 RESEARCH DATA
          FIGURE 1 MARKET: RESEARCH DESIGN
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
          FIGURE 2 DATA TRIANGULATION METHODOLOGY
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 Key data from primary sources
                    2.2.2.2 Breakdown of primaries
                                FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY, DESIGNATION, AND REGION
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.3.3 DEMAND-SIDE METRICS
                    FIGURE 6 MAIN METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR LARGE-SCALE NATURAL REFRIGERANT HEAT PUMPS
                    2.3.3.1 Main metrics considered to assess demand for large-scale natural refrigerant heat pumps
                    2.3.3.2 Assumptions for demand side
                    2.3.3.3 Calculation for demand side
           2.3.4 SUPPLY-SIDE ANALYSIS
                    FIGURE 7 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY SIDE OF LARGE-SCALE NATURAL HEAT PUMP MARKET
                    FIGURE 8 MARKET: SUPPLY-SIDE ANALYSIS
                    2.3.4.1 Calculations for supply side
                    2.3.4.2 Assumptions for supply side
                                FIGURE 9 COMPANY REVENUE ANALYSIS, 2021
           2.3.5 FORECAST

3 EXECUTIVE SUMMARY (Page No. - 44)
    TABLE 1 MARKET SNAPSHOT
    FIGURE 10 NORTH AMERICA HELD LARGEST SHARE OF MARKET IN 2021
    FIGURE 11 CARBON DIOXIDE (R-744) SEGMENT PROJECTED TO LEAD MARKET, BY NATURAL REFRIGERANT, IN 2027
    FIGURE 12 20–200 KW SEGMENT PROJECTED TO HOLD LARGEST SHARE OF MARKET, BY CAPACITY, IN 2027
    FIGURE 13 INDUSTRIAL SEGMENT EXPECTED TO DOMINATE MARKET, BY END USE, IN 2027

4 PREMIUM INSIGHTS (Page No. - 48)
    4.1 ATTRACTIVE OPPORTUNITIES IN MARKET
          FIGURE 14 CONTRIBUTION OF HEAT PUMP TECHNOLOGY IN REDUCING CARBON FOOTPRINT TO BOOST MARKET GROWTH FROM 2022 TO 2027
    4.2 MARKET, BY REGION
          FIGURE 15 NORTH AMERICA MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
    4.3 NORTH AMERICA MARKET, BY END USE AND COUNTRY
          FIGURE 16 INDUSTRIAL END USE AND US HELD LARGEST SHARES OF MARKET IN NORTH AMERICA IN 2021
    4.4 MARKET, BY NATURAL REFRIGERANT
          FIGURE 17 CARBON DIOXIDE (R-744) TO ACCOUNT FOR LARGEST MARKET SHARE, BY NATURAL REFRIGERANT, IN 2027
    4.5 MARKET, BY CAPACITY
          FIGURE 18 20–200 KW SEGMENT TO HOLD LARGEST MARKET SHARE, BY CAPACITY, IN 2027
    4.6 MARKET, BY END USE
          FIGURE 19 INDUSTRIAL SEGMENT TO DOMINATE MARKET, BY END USE, IN 2027

5 MARKET OVERVIEW (Page No. - 52)
    5.1 INTRODUCTION
    5.2 COVID-19 HEALTH ASSESSMENT
          FIGURE 20 COVID-19 GLOBAL PROPAGATION
          FIGURE 21 COVID-19 PROPAGATION IN SELECT COUNTRIES
    5.3 COVID-19 ECONOMIC ASSESSMENT
          FIGURE 22 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020
    5.4 MARKET DYNAMICS
          FIGURE 23 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.4.1 DRIVERS
                    5.4.1.1 Increasing visibility of contribution of heat pump technology in reducing carbon footprint
                    5.4.1.2 Growing focus on improving operational efficiency in industrial sector
           5.4.2 RESTRAINTS
                    5.4.2.1 Lack of awareness regarding benefits of heat pumps and heat pump standards among system vendors
           5.4.3 OPPORTUNITIES
                    5.4.3.1 Imposition of carbon tax in multiple countries
           5.4.4 CHALLENGES
                    5.4.4.1 Availability of low-cost fossil energy-based alternative technologies
    5.5 IMPACT OF COVID 19 ON MARKET
    5.6 SUPPLY CHAIN ANALYSIS
          FIGURE 24 MARKET: SUPPLY CHAIN ANALYSIS
          TABLE 2 MARKET: SUPPLY CHAIN
           5.6.1 RAW MATERIAL SUPPLIERS
           5.6.2 ORIGINAL EQUIPMENT MANUFACTURERS (OEMS)
           5.6.3 DISTRIBUTORS
           5.6.4 END USERS
    5.7 MARKET MAP
          FIGURE 25 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP: MARKET MAP
    5.8 TECHNOLOGY ANALYSIS
    5.9 INNOVATIONS & PATENT REGISTRATION
    5.10 KEY CONFERENCES AND EVENTS IN 2022 & 2023
           TABLE 3 MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.11 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
           5.11.1 REVENUE SHIFT AND NEW REVENUE POCKETS IN MARKET
                     FIGURE 26 REVENUE SHIFT OF LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP PROVIDERS
    5.12 CASE STUDY ANALYSIS
           5.12.1 DRAMMEN DISTRICT HEATING: WORLD’S LARGEST LOW GWP REFRIGERANT HEAT PUMP
    5.13 TRADE ANALYSIS
           5.13.1 EXPORT SCENARIO
                     TABLE 4 EXPORT SCENARIO FOR HS CODE 8418, BY COUNTRY, 2016–2020 (USD THOUSAND)
           5.13.2 IMPORT SCENARIO
                     TABLE 5 IMPORT SCENARIO FOR HS CODE 8418, BY COUNTRY, 2016–2020 (USD THOUSAND)
    5.14 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 27 MARKET: PORTER’S FIVE FORCES ANALYSIS
           TABLE 6 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.14.1 THREAT OF NEW ENTRANTS
           5.14.2 BARGAINING POWER OF SUPPLIERS
           5.14.3 BARGAINING POWER OF BUYERS
           5.14.4 THREAT OF SUBSTITUTES
           5.14.5 INTENSITY OF COMPETITIVE RIVALRY
    5.15 AVERAGE PRICING ANALYSIS
           5.15.1 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP: INDICATIVE CAPITAL COST
    5.16 SYNTHETIC REFRIGERANT VS NATURAL REFRIGERANT
           TABLE 7 COMPARISON BETWEEN SYNTHETIC REFRIGERANT AND NATURAL REFRIGERANT
    5.17 INSTALLED BASE OF LARGE-SCALE NATURAL REFRIGERANT HEAT PUMPS
           TABLE 8 INSTALLED BASE FOR HEAT PUMPS, BY REGION, 2020 (MILLION UNITS)
           TABLE 9 ADOPTION RATE OF LARGE-SCALE NATURAL REFRIGERANT HEAT PUMPS, BY REGION, 2020
           TABLE 10 INSTALLED BASE FOR LARGE-SCALE NATURAL REFRIGERANT HEAT PUMPS, BY REGION, 2020 (THOUSAND UNITS)
    5.18 MARKET: REGULATORY BODIES
           5.18.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                     TABLE 13 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.19 KEY STAKEHOLDERS & BUYING CRITERIA
           5.19.1 KEY STAKEHOLDERS IN BUYING PROCESS
                     FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USE
                     TABLE 14 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR END USE SEGMENTS (%)
           5.19.2 BUYING CRITERIA
                     FIGURE 29 KEY BUYING CRITERIA FOR END USE
                     TABLE 15 KEY BUYING CRITERIA FOR END-USE SEGMENTS

6 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY NATURAL REFRIGERANT (Page No. - 73)
    6.1 INTRODUCTION
          FIGURE 30 MARKET, BY NATURAL REFRIGERANT, 2021
          TABLE 16 MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
    6.2 AMMONIA (R-717)
           6.2.1 LOW CHARGE AMMONIA TECHNOLOGY IS DRIVING MARKET FOR AMMONIA (R-717)
                    TABLE 17 AMMONIA (R-717): MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.3 CARBON DIOXIDE (R-744)
           6.3.1 CARBON DIOXIDE (R-744) HAS HIGH VOLUMETRIC COOLING CAPACITY
                    TABLE 18 CARBON DIOXIDE (R-744): MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.4 HYDROCARBONS
           6.4.1 HYDROCARBONS HAVE UNIQUE PROPERTIES AND COOLING PERFORMANCE
                    TABLE 19 HYDROCARBONS: MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.5 OTHER REFRIGERANTS
          TABLE 20 OTHER REFRIGERANTS: MARKET, BY REGION, 2020–2027 (USD MILLION)

7 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY (Page No. - 78)
    7.1 INTRODUCTION
          FIGURE 31 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY, 2021
          TABLE 21 MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
    7.2 20–200 KW
           7.2.1 INCREASING USE IN COMMERCIAL SECTOR IS DRIVING MARKET FOR 20–200 KW HEAT PUMPS
                    TABLE 22 20–200 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
    7.3 200–500 KW
           7.3.1 200–500 KW HEAT PUMPS ARE MAINLY USED IN LIGHT COMMERCIAL INDUSTRIAL SECTOR
                    TABLE 23 200–500 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
    7.4 500–1,000 KW
           7.4.1 500–1,000 KW HEAT PUMPS ARE CHIEFLY USED IN INDUSTRIAL SECTOR
                    TABLE 24 500–1,000 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)
    7.5 ABOVE 1,000 KW
           7.5.1 FOCUS ON REDUCING OPERATING COSTS IS FUELING DEMAND FOR HEAT PUMPS ABOVE 1,000 KW
                    TABLE 25 ABOVE 1,000 KW: MARKET, BY REGION, 2020–2027 (USD MILLION)

8 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE (Page No. - 83)
    8.1 INTRODUCTION
          FIGURE 32 MARKET, BY END USE, 2021
          TABLE 26 MARKET, BY END USE, 2020–2027 (USD MILLION)
    8.2 COMMERCIAL
          TABLE 27 COMMERCIAL: MARKET, BY REGION, 2020–2027 (USD MILLION)
          TABLE 28 COMMERCIAL: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
           8.2.1 EDUCATIONAL INSTITUTES
                    8.2.1.1 Adoption of heat pump technology in modern education infrastructure fueling market growth
                                TABLE 29 EDUCATIONAL INSTITUTES: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP COMMERCIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.2.2 HOSPITALITY SPACES
                    8.2.2.1 Increasing tourism activities driving market growth
                                TABLE 30 HOSPITALITY SPACES: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP COMMERCIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.2.3 OTHER COMMERCIAL BUILDINGS
                    TABLE 31 OTHER COMMERCIAL BUILDINGS: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP COMMERCIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
    8.3 INDUSTRIAL
          TABLE 32 INDUSTRIAL: MARKET, BY REGION, 2020–2027 (USD MILLION)
          TABLE 33 INDUSTRIAL: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
           8.3.1 FOOD & BEVERAGES
                    8.3.1.1 Increasing demand for packed food projected to fuel market growth
                                TABLE 34 FOOD & BEVERAGES: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP INDUSTRIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.3.2 PULP & PAPER
                    8.3.2.1 Rising demand for packaging is boosting market growth
                                TABLE 35 PULP & PAPER: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP INDUSTRIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.3.3 CHEMICALS & PETROCHEMICALS
                    8.3.3.1 Transition toward sustainability and decarbonization goals driving market growth
                                TABLE 36 CHEMICALS & PETROCHEMICALS: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP INDUSTRIAL MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.3.4 OTHER INDUSTRIES
                    TABLE 37 OTHER INDUSTRIES: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP INDUSTRIAL MARKET, BY REGION, 2020–2027 (USD MILLION)

9 REGIONAL ANALYSIS (Page No. - 92)
    9.1 INTRODUCTION
          FIGURE 33 REGIONAL SNAPSHOT: NORTH AMERICA IS PROJECTED TO WITNESS THE HIGHEST GROWTH DURING THE FORECAST PERIOD
          FIGURE 34 MARKET, BY REGION, 2021
          TABLE 38 MARKET, BY REGION, 2020–2027 (USD MILLION)
          TABLE 39 MARKET, BY REGION, 2020–2027 (THOUSAND UNITS)
    9.2 NORTH AMERICA
          FIGURE 35 NORTH AMERICA: MARKET REGIONAL SNAPSHOT
           9.2.1 BY NATURAL REFRIGERANT
                    TABLE 40 NORTH AMERICA: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.2.2 BY CAPACITY
                    TABLE 41 NORTH AMERICA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                    TABLE 42 20–200 KW: NORTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 43 200–500 KW: NORTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 44 500–1,000 KW: NORTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 45 ABOVE 1,000 KW: NORTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.2.3 BY END USE
                    TABLE 46 NORTH AMERICA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 47 NORTH AMERICA: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 48 NORTH AMERICA: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 49 NORTH AMERICA: COMMERCIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 50 NORTH AMERICA: INDUSTRIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.2.4 BY COUNTRY
                    TABLE 51 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.2.4.1 US
                               9.2.4.1.1 Demand for energy-efficient water heating systems from commercial end users to bolster market growth
                                              TABLE 52 US: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 53 US: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.2.4.2 Canada
                               9.2.4.2.1 Focus on adoption of energy wastage reduction technologies to fuel demand for heat pumps
                                              TABLE 54 CANADA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 55 CANADA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.2.4.3 Mexico
                               9.2.4.3.1 Energy-saving initiatives to drive need for heat pumps
                                              TABLE 56 MEXICO: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 57 MEXICO: MARKET, BY END USE, 2020–2027 (USD MILLION)
    9.3 ASIA PACIFIC
          FIGURE 36 ASIA PACIFIC: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET SNAPSHOT
           9.3.1 BY NATURAL REFRIGERANT
                    TABLE 58 ASIA PACIFIC: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.3.2 BY CAPACITY
                    TABLE 59 ASIA PACIFIC: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                    TABLE 60 20–200 KW: ASIA PACIFIC MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 61 200–500 KW: ASIA PACIFIC MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 62 500–1,000 KW: ASIA PACIFIC MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 63 ABOVE 1,000 KW: ASIA PACIFIC MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.3.3 BY END USE
                    TABLE 64 ASIA PACIFIC: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 65 ASIA PACIFIC: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 66 ASIA PACIFIC: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 67 ASIA PACIFIC: COMMERCIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 68 ASIA PACIFIC: INDUSTRIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.3.4 BY COUNTRY
                    TABLE 69 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.3.4.1 China
                               9.3.4.1.1 Government focus on energy-efficient systems fuels demand for large-scale natural refrigerant heat pumps
                                              TABLE 70 CHINA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 71 CHINA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.3.4.2 Japan
                               9.3.4.2.1 Energy conservation initiatives by government to augment market growth
                                              TABLE 72 JAPAN: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 73 JAPAN: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.3.4.3 South Korea
                               9.3.4.3.1 Surging demand for energy-efficient heating technology to propel market growth
                                              TABLE 74 SOUTH KOREA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 75 SOUTH KOREA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.3.4.4 Rest of Asia Pacific
                                TABLE 76 REST OF ASIA PACIFIC: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                TABLE 77 REST OF ASIA PACIFIC: MARKET, BY END USE, 2020–2027 (USD MILLION)
    9.4 EUROPE
           9.4.1 BY NATURAL REFRIGERANT
                    TABLE 78 EUROPE: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.4.2 BY CAPACITY
                    TABLE 79 EUROPE: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
           9.4.3 BY END USE
                    TABLE 80 EUROPE: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 81 EUROPE: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 82 EUROPE: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
           9.4.4 BY COUNTRY
                    TABLE 83 EUROPE: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.4.4.1 Germany
                               9.4.4.1.1 Developments in automotive, mechanical engineering, and metal processing sectors to drive market growth
                                              TABLE 84 GERMANY: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 85 GERMANY: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.4.4.2 UK
                               9.4.4.2.1 Renewable energy transition to propel demand for large-scale natural refrigerant heat pumps
                                              TABLE 86 UK: MARKET,  BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 87 UK: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.4.4.3 France
                               9.4.4.3.1 Rising utilization of energy-efficient heating systems to boost market growth
                                              TABLE 88 FRANCE: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 89 FRANCE: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.4.4.4 Rest of Europe
                                TABLE 90 REST OF EUROPE: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                TABLE 91 REST OF EUROPE: MARKET, BY END USE, 2020–2027 (USD MILLION)
    9.5 SOUTH AMERICA
           9.5.1 BY NATURAL REFRIGERANT
                    TABLE 92 SOUTH AMERICA: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.5.2 BY CAPACITY
                    TABLE 93 SOUTH AMERICA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                    TABLE 94 20–200 KW: SOUTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 95 200–500 KW: SOUTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 96 500–1,000 KW: SOUTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 97 ABOVE 1,000 KW: SOUTH AMERICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.5.3 BY END USE
                    TABLE 98 SOUTH AMERICA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 99 SOUTH AMERICA: MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 100 SOUTH AMERICA: MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 101 SOUTH AMERICA: COMMERCIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 102 SOUTH AMERICA: INDUSTRIAL MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.5.4 BY COUNTRY
                    TABLE 103 SOUTH AMERICA:MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.5.4.1 Argentina
                               9.5.4.1.1 Government initiatives to promote sustainability to boost market growth
                                              TABLE 104 ARGENTINA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 105 ARGENTINA: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.5.4.2 Brazil
                               9.5.4.2.1 Transition toward clean energy to fuel market growth
                                              TABLE 106 BRAZIL: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 107 BRAZIL: MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.5.4.3 Rest of South America
                                TABLE 108 REST OF SOUTH AMERICA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                TABLE 109 REST OF SOUTH AMERICA: MARKET, BY END USE, 2020–2027 (USD MILLION)
    9.6 MIDDLE EAST & AFRICA
           9.6.1 BY NATURAL REFRIGERANT
                    TABLE 110 MIDDLE EAST & AFRICA: MARKET, BY NATURAL REFRIGERANT, 2020–2027 (USD MILLION)
           9.6.2 BY CAPACITY
                    TABLE 111 MIDDLE EAST & AFRICA: MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                    TABLE 112 20–200KW: MIDDLE EAST & AFRICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 113 200–500 KW: MIDDLE EAST & AFRICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 114 500–1,000 KW: MIDDLE EAST & AFRICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 115 ABOVE 1,000 KW: MIDDLE EAST & AFRICA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.6.3 BY END USE
                    TABLE 116 MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE, 2020–2027 (USD MILLION)
                    TABLE 117 MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY COMMERCIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 118 MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY INDUSTRIAL END USE, 2020–2027 (USD MILLION)
                    TABLE 119 MIDDLE EAST & AFRICA: COMMERCIAL LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 120 MIDDLE EAST & AFRICA: INDUSTRIAL LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           9.6.4 BY COUNTRY
                    TABLE 121 MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                    9.6.4.1 Saudi Arabia
                               9.6.4.1.1 Increasing investments in industrial sector to boost market growth
                                              TABLE 122 SAUDI ARABIA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 123 SAUDI ARABIA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.6.4.2 South Africa
                               9.6.4.2.1 Abundance of natural resources and expansion of transportation sector to support market growth
                                              TABLE 124 SOUTH AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                              TABLE 125 SOUTH AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE, 2020–2027 (USD MILLION)
                    9.6.4.3 Rest of Middle East & Africa
                                TABLE 126 REST OF MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY CAPACITY, 2020–2027 (USD MILLION)
                                TABLE 127 REST OF MIDDLE EAST & AFRICA: LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, BY END USE, 2020–2027 (USD MILLION)

10 COMPETITIVE LANDSCAPE (Page No. - 133)
     10.1 OVERVIEW
             FIGURE 37 KEY DEVELOPMENTS IN LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, 2018 TO 2022
     10.2 SHARE ANALYSIS OF KEY PLAYERS, 2021
             TABLE 128 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET: DEGREE OF COMPETITION
             FIGURE 38 SHARE ANALYSIS OF TOP PLAYERS IN LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET, 2021
     10.3 MARKET EVALUATION FRAMEWORK
             TABLE 129 MARKET EVALUATION FRAMEWORK, 2018–2021
     10.4 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS, 2018–2021
             FIGURE 39 SEGMENTAL REVENUE ANALYSIS, 2018–2021
     10.5 RECENT DEVELOPMENTS
             10.5.1 DEALS
                        10.5.1.1 Large-scale natural refrigerant heat pumps market: deals, 2018–2022
             10.5.2 OTHERS
                        10.5.2.1 Large-scale natural refrigerant heat pump market: others, 2018–2022
     10.6 COMPETITIVE LEADERSHIP MAPPING
             10.6.1 STAR
             10.6.2 EMERGING LEADER
             10.6.3 PERVASIVE
             10.6.4 PARTICIPANT
                        FIGURE 40 LARGE-SCALE NATURAL REFRIGERANT HEAT PUMP MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
                        TABLE 130 COMPANY NATURAL REFRIGERANT FOOTPRINT
                        TABLE 131 COMPANY END USE FOOTPRINT
                        TABLE 132 COMPANY REGION FOOTPRINT

11 COMPANY PROFILES (Page No. - 144)
     11.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
             11.1.1 SIEMENS ENERGY
                        TABLE 133 SIEMENS ENERGY: BUSINESS OVERVIEW
                        FIGURE 41 SIEMENS ENERGY: COMPANY SNAPSHOT
                        TABLE 134 SIEMENS ENERGY: DEALS
             11.1.2 JOHNSON CONTROLS
                        TABLE 135 JOHNSON CONTROLS: BUSINESS OVERVIEW
                        FIGURE 42 JOHNSON CONTROLS: COMPANY SNAPSHOT
                        TABLE 136 JOHNSON CONTROLS: DEALS
                        TABLE 137 JOHNSON CONTROLS: OTHERS
             11.1.3 EMERSON ELECTRIC CO.
                        TABLE 138 EMERSON ELECTRIC CO.: BUSINESS OVERVIEW
                        FIGURE 43 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
             11.1.4 GEA GROUP AKTIENGESELLSCHAFT
                        TABLE 139 GEA GROUP AKTIENGESELLSCHAFT: BUSINESS OVERVIEW
                        FIGURE 44 GEA GROUP AKTIENGESELLSCHAFT: COMPANY SNAPSHOT
                        TABLE 140 GEA GROUP AKTIENGESELLSCHAFT: OTHERS
             11.1.5 MITSUBISHI ELECTRIC CORPORATION
                        TABLE 141 MITSUBISHI ELECTRIC CORPORATION: BUSINESS OVERVIEW
                        FIGURE 45 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
                        TABLE 142 MITSUBISHI ELECTRIC CORPORATION: DEALS
             11.1.6 MAN ENERGY SOLUTIONS SE
                        TABLE 143 MAN ENERGY SOLUTIONS SE: BUSINESS OVERVIEW
             11.1.7 GUANGDONG PHNIX ECO-ENERGY SOLUTION LTD.
                        TABLE 144 GUANGDONG PHNIX ECO-ENERGY SOLUTION LTD.: BUSINESS OVERVIEW
             11.1.8 ARANER
                        TABLE 145 ARANER: BUSINESS OVERVIEW
             11.1.9 STAR REFRIGERATION
                        TABLE 146 STAR REFRIGERATION: BUSINESS OVERVIEW
             11.1.10 EMICON AC S.P.A.
                        TABLE 147 EMICON AC S.P.A.: BUSINESS OVERVIEW
             11.1.11 CLADE ENGINEERING SYSTEMS LTD
                        TABLE 148 CLADE ENGINEERING SYSTEMS LTD: BUSINESS OVERVIEW
             11.1.12 AGO GMBH ENERGIE + ANLAGEN
                        TABLE 149 AGO GMBH ENERGIE + ANLAGEN: BUSINESS OVERVIEW
             11.1.13 LYNC
                        TABLE 150 LYNC: BUSINESS OVERVIEW
             11.1.14 SKADEC GMBH
                        TABLE 151 SKADEC GMBH: BUSINESS OVERVIEW
             11.1.15 BUNDGAARD REFRIGERATION
                        TABLE 152 BUNDGAARD REFRIGERATION: BUSINESS OVERVIEW
     11.2 OTHER PLAYERS
             11.2.1 MAYEKAWA MFG. CO., LTD.
             11.2.2 FENAGY A/S
             11.2.3 PURE THERMAL
             11.2.4 TEKO GMBH
             11.2.5 ENERBLUE SR

*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

12 APPENDIX (Page No. - 173)
     12.1 INSIGHTS OF INDUSTRY EXPERTS
     12.2 DISCUSSION GUIDE
     12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     12.4 AVAILABLE CUSTOMIZATIONS
     12.5 RELATED REPORTS
     12.6 AUTHOR DETAILS