Europe Heat Pump Coils Market Is Set To Reach 1.1 Billion By 2033, Growing At A CAGR Of 18.9

Europe Heat Pump Coils Market by Heat Pump Type (Air Source, Ground Source, Water Source), by Europe (Germany, France, United Kingdom, Italy, Spain, Netherlands, Sweden, Norway, Switzerland) Forecast 2025-2033

Europe Heat Pump Coils Market Is Set To Reach 1.1 Billion By 2033, Growing At A CAGR Of 18.9

Key Insights

The size of the Europe Heat Pump Coils Market was valued at USD 1.1 Billion in 2024 and is projected to reach USD 3.70 Billion by 2033, with an expected CAGR of 18.9% during the forecast period. This strong growth is driven by a combination of factors. Increased adoption of heat pumps as one of the most energy-efficient options for heating and cooling, which is becoming highly popular, forms the main reason. Initiatives by the government in Europe to encourage renewable energy technologies along with increasing environmental concerns and demand for decarbonization are boosting market growth further. With a heat pump for space heating and cooling applications, this trend is receiving increased adoption, owing to superior efficiency and environmental advantages compared with conventional systems and promising much energy saving as opposed to conventional systems.

Europe Heat Pump Coils Market Concentration & Characteristics

The European heat pump coils market is relatively concentrated, with a few key players dominating the market share. The industry is characterized by a high level of innovation, with companies investing in research and development to enhance product performance and efficiency.

Government regulations play a significant role in the market, with policies promoting the use of renewable energy sources and implementing energy efficiency standards. Additionally, product substitutes, such as traditional HVAC systems, pose competition to heat pump coils.

Europe Heat Pump Coils Market Trends

The growing demand for energy-efficient solutions, coupled with the rising adoption of heat pumps in residential and commercial buildings, is driving the market growth. Additionally, increasing urbanization and the need for efficient space heating and cooling systems in urban areas are further contributing to the market expansion.

Technological advancements, such as the development of microchannel coils and innovative refrigerants, are enhancing the performance and efficiency of heat pump coils. These advancements are expected to further drive market growth in the coming years.

Europe Heat Pump Coils Market Growth

Key Region or Country & Segment to Dominate the Market

Germany is a prominent market for heat pump coils in Europe, attributed to its strong economy, energy efficiency initiatives, and the growing adoption of renewable energy technologies. Other key countries include France, the United Kingdom, Italy, and Spain.

Among the heat pump types, the air source segment holds a dominant market share, driven by the ease of installation and low maintenance costs. The water source segment is expected to witness significant growth due to its efficiency and ability to leverage renewable energy sources, such as geothermal energy.

Europe Heat Pump Coils Market Product Insights Report Coverage & Deliverables

This comprehensive market research report provides an in-depth analysis of the European heat pump coils market, including:

Market size, share, and growth analysis
Market drivers, challenges, and opportunities
Product portfolio of major industry players
Regional market dynamics and analysis
Key industry trends and emerging technologies

Europe Heat Pump Coils Market Analysis

The European heat pump coils market is expected to maintain its steady growth trajectory, reaching a valuation of USD 2.2 billion by 2028. The market size is expected to increase at a CAGR of 18.9% during the forecast period, reflecting the growing demand for efficient and sustainable cooling and heating solutions.

The market share of major industry players is expected to remain stable, with companies focusing on product innovation and strategic partnerships to maintain their competitive edge. Key market players include 4 COILS TECH s.r.o., Aspen Manufacturing, Beehive Coils, Bosch Thermotechnology Corp., Carrier, DAIKIN APPLIED, EVAPCO, Inc., HC Coils Ltd, Kaltra, Kelvion Holding GmbH, MODINE MANUFACTURING COMPANY, S & P Coil Products Limited, Thermal Transfer Technology Ltd, TTC NORGE AS, and Turnbull & Scott Group.

Europe Heat Pump Coils Market Regional Insights

Europe is the largest market for heat pump coils globally, with a significant presence in Germany, France, the United Kingdom, Italy, and Spain. The region's strong economy, environmental regulations, and growing adoption of heat pumps are key factors contributing to the market's growth.

Germany is the largest market in Europe, with a market share of over 30%.
France and the United Kingdom are other major markets, with significant growth potential.
Italy and Spain are witnessing increasing demand for heat pump coils.

Driving Forces: What's Propelling the Europe Heat Pump Coils Market

Rising Energy Costs: Increasing energy costs are encouraging consumers to adopt energy-efficient solutions, including heat pumps.
Government Incentives: Governments across Europe are offering incentives to promote the adoption of heat pumps, further driving market growth.
Environmental Concerns: Environmental regulations and a growing focus on sustainability are contributing to the adoption of heat pump coils.
Technological Advancements: Ongoing technological advancements are improving the performance and efficiency of heat pump coils.

Challenges and Restraints in Europe Heat Pump Coils Market

High Upfront Costs: The high upfront costs associated with installing heat pumps can be a barrier to adoption.
Lack of Awareness: Consumers may lack awareness about the benefits and advantages of heat pumps.
Competition from Traditional Systems: Traditional HVAC systems continue to compete with heat pumps in the market.
Space Constraints: Space constraints can be a challenge in urban areas where space for installing heat pumps may be limited.

Emerging Trends in Europe Heat Pump Coils Market

Growing Popularity of Hybrid Heat Pumps: Hybrid heat pumps combine the benefits of heat pumps with traditional heating systems.
Integration with Smart Home Systems: Heat pump coils are becoming increasingly integrated with smart home systems for remote control and monitoring.
Focus on Energy Efficiency: There is an increasing focus on energy efficiency in the construction industry, driving the demand for high-efficiency heat pump coils.
Environmental Regulations: Stringent environmental regulations are promoting the adoption of low-GWP refrigerants in heat pump coils.

Europe Heat Pump Coils Industry News

May 2023: Modine announces the expansion of its factory in Sremska, Serbia, to address the growing demand for heat pump coils in Europe.
March 2022: Delphi introduces the Delphi MCHX outdoor heat pump coil, designed for air-source heat pump systems and offering reduced weight and size.

Leading Players in the Europe Heat Pump Coils Market

Europe Heat Pump Coils Market Segmentation

1. Heat Pump Type
- 1.1. Air Source
- 1.2. Ground Source
- 1.3. Water Source

Europe Heat Pump Coils Market Segmentation By Geography

1. Europe
- 1.1. Germany
- 1.2. France
- 1.3. United Kingdom
- 1.4. Italy
- 1.5. Spain
- 1.6. Netherlands
- 1.7. Sweden
- 1.8. Norway
- 1.9. Switzerland

Europe Heat Pump Coils Market Regional Share

Europe Heat Pump Coils Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2019-2033
Base Year	2024
Estimated Year	2025
Forecast Period	2025-2033
Historical Period	2019-2024
Growth Rate	CAGR of 18.9% from 2019-2033
Segmentation	By Heat Pump Type Air Source Ground Source Water Source By Geography Europe Germany France United Kingdom Italy Spain Netherlands Sweden Norway Switzerland

Table Of Content

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1 Rising demand for reliable space heating & cooling systems
    - 3.2.2 Favorable regulatory landscape and supportive financial policies
    - 3.2.3 Growing adoption of low emission heat pump systems
- - 3.3. Market Restrains
  - - 3.3.1. Availability of various heat pumps alternatives
- - 3.4. Market Trends
  - - 3.4.1 The growing demand for energy-efficient solutions
    - 3.4.2 coupled with the rising adoption of heat pumps in residential and commercial buildings
    - 3.4.3 is driving the market growth. Additionally
    - 3.4.4 increasing urbanization and the need for efficient space heating and cooling systems in urban areas are further contributing to the market expansion.
4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
5. Europe Heat Pump Coils Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Heat Pump Type
  - 5.1.1. Air Source
  - 5.1.2. Ground Source
  - 5.1.3. Water Source
- 5.2. Market Analysis, Insights and Forecast - by Region
  - 5.2.1. Europe
6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- - 6.2. Company Profiles
  - - 6.2.1 4 COILS TECH s.r.o.
      6.2.1.1. Overview
      6.2.1.2. Products
      6.2.1.3. SWOT Analysis
      6.2.1.4. Recent Developments
      6.2.1.5. Financials (Based on Availability)
    - 6.2.2 Aspen Manufacturing
      6.2.2.1. Overview
      6.2.2.2. Products
      6.2.2.3. SWOT Analysis
      6.2.2.4. Recent Developments
      6.2.2.5. Financials (Based on Availability)
    - 6.2.3 Beehive Coils
      6.2.3.1. Overview
      6.2.3.2. Products
      6.2.3.3. SWOT Analysis
      6.2.3.4. Recent Developments
      6.2.3.5. Financials (Based on Availability)
    - 6.2.4 Bosch Thermotechnology Corp.
      6.2.4.1. Overview
      6.2.4.2. Products
      6.2.4.3. SWOT Analysis
      6.2.4.4. Recent Developments
      6.2.4.5. Financials (Based on Availability)
    - 6.2.5 Carrier
      6.2.5.1. Overview
      6.2.5.2. Products
      6.2.5.3. SWOT Analysis
      6.2.5.4. Recent Developments
      6.2.5.5. Financials (Based on Availability)
    - 6.2.6 DAIKIN APPLIED
      6.2.6.1. Overview
      6.2.6.2. Products
      6.2.6.3. SWOT Analysis
      6.2.6.4. Recent Developments
      6.2.6.5. Financials (Based on Availability)
    - 6.2.7 EVAPCO Inc.
      6.2.7.1. Overview
      6.2.7.2. Products
      6.2.7.3. SWOT Analysis
      6.2.7.4. Recent Developments
      6.2.7.5. Financials (Based on Availability)
    - 6.2.8 HC Coils Ltd
      6.2.8.1. Overview
      6.2.8.2. Products
      6.2.8.3. SWOT Analysis
      6.2.8.4. Recent Developments
      6.2.8.5. Financials (Based on Availability)
    - 6.2.9 Kaltra
      6.2.9.1. Overview
      6.2.9.2. Products
      6.2.9.3. SWOT Analysis
      6.2.9.4. Recent Developments
      6.2.9.5. Financials (Based on Availability)
    - 6.2.10 Kelvion Holding GmbH
      6.2.10.1. Overview
      6.2.10.2. Products
      6.2.10.3. SWOT Analysis
      6.2.10.4. Recent Developments
      6.2.10.5. Financials (Based on Availability)
    - 6.2.11 MODINE MANUFACTURING COMPANY
      6.2.11.1. Overview
      6.2.11.2. Products
      6.2.11.3. SWOT Analysis
      6.2.11.4. Recent Developments
      6.2.11.5. Financials (Based on Availability)
    - 6.2.12 S & P Coil Products Limited
      6.2.12.1. Overview
      6.2.12.2. Products
      6.2.12.3. SWOT Analysis
      6.2.12.4. Recent Developments
      6.2.12.5. Financials (Based on Availability)
    - 6.2.13 Thermal Transfer Technology Ltd
      6.2.13.1. Overview
      6.2.13.2. Products
      6.2.13.3. SWOT Analysis
      6.2.13.4. Recent Developments
      6.2.13.5. Financials (Based on Availability)
    - 6.2.14 TTC NORGE AS
      6.2.14.1. Overview
      6.2.14.2. Products
      6.2.14.3. SWOT Analysis
      6.2.14.4. Recent Developments
      6.2.14.5. Financials (Based on Availability)
    - 6.2.15 Turnbull & Scott Group
      6.2.15.1. Overview
      6.2.15.2. Products
      6.2.15.3. SWOT Analysis
      6.2.15.4. Recent Developments
      6.2.15.5. Financials (Based on Availability)

List of Figures

Figure 1: Europe Heat Pump Coils Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
Figure 2: Europe Heat Pump Coils Market Share (%) by Company 2024

List of Tables

Table 1: Europe Heat Pump Coils Market Revenue Billion Forecast, by Region 2019 & 2032
Table 2: Europe Heat Pump Coils Market Volume units Forecast, by Region 2019 & 2032
Table 3: Europe Heat Pump Coils Market Revenue Billion Forecast, by Heat Pump Type 2019 & 2032
Table 4: Europe Heat Pump Coils Market Volume units Forecast, by Heat Pump Type 2019 & 2032
Table 5: Europe Heat Pump Coils Market Revenue Billion Forecast, by Region 2019 & 2032
Table 6: Europe Heat Pump Coils Market Volume units Forecast, by Region 2019 & 2032
Table 7: Europe Heat Pump Coils Market Revenue Billion Forecast, by Heat Pump Type 2019 & 2032
Table 8: Europe Heat Pump Coils Market Volume units Forecast, by Heat Pump Type 2019 & 2032
Table 9: Europe Heat Pump Coils Market Revenue Billion Forecast, by Country 2019 & 2032
Table 10: Europe Heat Pump Coils Market Volume units Forecast, by Country 2019 & 2032
Table 11: Germany Europe Heat Pump Coils Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 12: Germany Europe Heat Pump Coils Market Volume (units) Forecast, by Application 2019 & 2032
Table 13: France Europe Heat Pump Coils Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 14: France Europe Heat Pump Coils Market Volume (units) Forecast, by Application 2019 & 2032
Table 15: United Kingdom Europe Heat Pump Coils Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 16: United Kingdom Europe Heat Pump Coils Market Volume (units) Forecast, by Application 2019 & 2032
Table 17: Italy Europe Heat Pump Coils Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 18: Italy Europe Heat Pump Coils Market Volume (units) Forecast, by Application 2019 & 2032
Table 19: Spain Europe Heat Pump Coils Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 20: Spain Europe Heat Pump Coils Market Volume (units) Forecast, by Application 2019 & 2032
Table 21: Netherlands Europe Heat Pump Coils Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 22: Netherlands Europe Heat Pump Coils Market Volume (units) Forecast, by Application 2019 & 2032
Table 23: Sweden Europe Heat Pump Coils Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 24: Sweden Europe Heat Pump Coils Market Volume (units) Forecast, by Application 2019 & 2032
Table 25: Norway Europe Heat Pump Coils Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 26: Norway Europe Heat Pump Coils Market Volume (units) Forecast, by Application 2019 & 2032
Table 27: Switzerland Europe Heat Pump Coils Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 28: Switzerland Europe Heat Pump Coils Market Volume (units) Forecast, by Application 2019 & 2032

STEP 1 - Identification of Relevant Samples Size from Population Database

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders

Secondary Research

Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

Frequently Asked Questions

Get a Free Sample

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

Pricing

Looking for a Custom Report?

We offer personalized report customization at no extra cost, including the option to purchase individual sections or country-specific reports. Plus, we provide special discounts for startups and universities. Get in touch with us today!

Tailored for you

In-depth Analysis Tailored to Specified Regions or Segments
Company Profiles Customized to User Preferences
Comprehensive Insights Focused on Specific Segments or Regions
Customized Evaluation of Competitive Landscape to Meet Your Needs
Tailored Customization to Address Other Specific Requirements

Director of Business Development

Sarah L

The insights provided in this report were spot-on and exactly what we needed to guide our strategic planning. The level of detail on industry trends and forecasts is unmatched. It saved us countless hours and gave us a significant advantage!"

Europe Heat Pump Coils Market Is Set To Reach 1.1 Billion By 2033, Growing At A CAGR Of 18.9