Germany Heat Pump Market is anticipated to reach over USD 700 million by 2024. Growing demand for environmentally friendly, reliable, energy efficient space conditioning systems to reduce electricity consumption will stimulate the industry landscape. For instance, geothermal heat pump can reduce the energy consumption from 30% to 60% when compared with other alternates. Rising concern to reduce import dependency coupled with volatile fossil fuel prices are few indispensable factors responsible to promote energy efficient systems. Government has introduced several initiatives including zero interest rate loan, tax rebate, financial assistance to promote the utilization of energy efficient systems and thereby reduce import dependency.

Introduction of several energy efficient norms, directives and targets to curb GHG emissions will sway the Germany heat pump market. For instance, the German Climate Action Plan 2030 introduced in November 2016 aims to reduce the greenhouse gas emissions up to 55% by 2030 from 1990 levels. Moreover, policymakers have established a target to minimize the carbon dioxide emissions by at least 270 MMT by 2020, through enhancing the utilization of non-conventional resources.

Geothermal heat pump market witnessed an annual installation over 25 thousand units in 2017. High efficiency, reliable, less energy consumption and heat loss, low operation and maintenance cost are some of its features which will positively influence the industry outlook. For instance, the system is 75% efficient when compared with oil furnace and 48% efficient from gas furnace.

Air source heat pump market is expected to witness significant growth on account of its low carbon emissions, limited space requirement, cost effectiveness. It can reduce the carbon dioxide emissions up to 40% when compared with fossil fuel driven systems. Air to water is preferred over air to air, subject to growing demand for domestic hot water along with its ability for air purification.

Emerging demand for space heating and hot water supply across suburban area will enhance the sole to water heat pump market across Germany. Introduction of energy efficient building codes and standards including Energy Saving Ordinance to minimize carbon dioxide emissions will positively influence the product demand.

Commercial heat pump market is predicted to surpass 20,000 units subject to increase in investment toward infrastructural development across the nation. Favourable measures to improve air quality along with positive outlook toward renewable technologies will stimulate the business landscape. Increasing demand for space conditioning system that can easily be integrated with conventional systems across existing and new constructed building will further enhance the product deployment.

Major players across the heat pump market in Germany include Thermic Energy, Stiebel Eltron, Vaillant, Wolf, Swegon, Solarbayer, Daikin, Viessmann, Toshiba, Systemair AB, Bosch Thermotechnology, Modine, NIBE, Carrier Corporation, Glen Dimplex, Danfoss, Trane, Solarbayer and Weishaupt.