Water Source Heat Pumps: Introduction
- A water source heat pump operates in a manner similar to a regular air pump except the fact that it transfers and extracts heat by using water as a source instead of air
- A water source heat pump works by cycling water through a system of pipes that are laid out at the bottom of a water body or reservoir. The water cycled through pipes captures heat from the water body and dissipates it into the house.
- Water source heat pumps are used in two kinds of heat pump systems: geothermal systems and water loop systems
- Use of water source heat pumps can save a lot of money and protect the environment from harmful emissions
Key Drivers of Global Water Source Heat Pump Market
- Water source heat pump systems are used in commercial buildings, such as shopping malls, hotels, and libraries, which require different temperature zones. Some of these buildings require cooling, while others require heating. Thus, the building & construction industry is a major customer of water source heat pumps.
- Governments have imposed regulations on developers regarding zero carbon emissions from construction. As per these regulations, a whole-life carbon assessment should be conducted for all construction projects. Use of devices with low carbon emissions, such as water source heat pumps, proves highly useful to meet these regulations imposed on developers. This, in turn, is projected to drive the global water source heat pump market during the forecast period.
- Onshore oil and gas service companies operate under harsh and extreme climatic conditions. Ground source or water source heat pumps can operate under these conditions.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Key Restraints of Global Water Source Heat Pump Market:
- Water source heat pumps need to be located close to a conditioned space, where it can generate radiated sound. However, different measures have been practiced to reduce this radiated sound to acceptable decibel levels.
- A water source heat pump requires an individual condensate piping line to be run from the unit
- With insufficient water supply, a water source heat pump lowers the temperature of the water to the point at which the system would not run much efficiently or would get dysfunctional. The more the heat needs to be generated, the larger the water source required.
- In January 2019, Vital Energi announced its plans to start working on Scotland’s first major water-source heat pump. Vital Energi would deliver the pump, which would be installed at the GBP-250-Mn Queen’s Quay regeneration project in Clydebank, Scotland. The GBP-15-Mn energy project would provide heat for the area’s homes, businesses, and a few public buildings.
- On January 2019, The Whalen Co. introduced the Closetline CAS packaged heat pump. Its capacities range from 0.5 tons to 5.0 tons, with 13.5 or 17.0 EER (Energy Efficient Ratio) at WLHP conditions in a compact cabinet designed for ease of service.
Asia Pacific to Hold a Major Share of Global Water Source Heat Pump Market
- Based on region, the global water source heat pump market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific dominates the global market and the trend is estimated to continue during the forecast period also, due to rapid urbanization and industrialization in major economies such as China, South Korea, and India.
- Initiatives for shift toward renewable energy sources from the conventional energy by governments in countries of Asia Pacific are expected to have a positive impact on the global market for water source hear pumps during the forecast period
Looking for Regional Analysis or Competitive Landscape in Water Source Heat Pump Market, ask for a customized report
Key Players Operating in Global Market:
Some of the key players operating in the global water source heat pump market are:
- ClimateMaster Inc.
- Mississippi Power
- Energy Star
- Water Furnace International Ltd.
- Florida Heat Pump Manufacturing
- Bryant Heating & Cooling Systems
- Johnson Controls
- Mc Quay International
- Dunham Bush
- STIEBEL ELTRON
- Vital Energi
- Danfoss Groupe
Global Water Source Heat Pump Market, by Application
Global Water Source Heat Pump Market, by Type
- Closed-loop Systems
- Open-loop Systems
- Hybrid Heat Pumps
- Solar-assisted Pumps
Global Water Source Heat Pump Market, by Energy efficiency
- Low Efficiency
- High Efficiency
- Premium Efficiency
Global Water Source Heat Pump Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.