Air to Water Heat Pumps to Dominate the Australia Air Source Heat Pump Market During the Forecast Period

The factors driving Australia's air source heat pump market are incorporating green technology at home, high energy efficiency and budget-friendly operations, and longer lifespan.

According to the TechSci Research report, “Australia Air Source Heat Pump Market–By Region, Competition Forecast & Opportunities, 2018-2028F,”,” the Australia air source heat pump market is expected to grow at a higher pace during the forecast period due to the low maintenance cost, increased energy efficiency, and safer combustion-based heating systems that are safe to operate.

By using a compressor and a circulation system of liquid or gas refrigerant, heat pumps can move heat from one place to another while removing heat from outdoor sources and pumping it into a home. For residential use, heat pumps offer several benefits. Electricity is used less when the heat is pumped than when it is only transformed using electricity. In the summer, the cycle can be switched so that the device can operate as an air conditioner. The government has recently started implementing various new programs to encourage the transition to green living and alternative energy usage, promoting the rise in popularity of air source heat pumps in Australia.

In 2022, due to an increase in demand, Stiebel Eltron announced an investment of USD 600 million in heat pumps: Electricity-based heating, considered suitable for the environment, is in high order. Around 80,000 heat pumps are anticipated to be produced by the end of the year, up 60% from the previous year. The corporation has more than 600 million euros worth of additional investments planned for the near future. There will be increased production capacity and funding for research and development. These investments will drive the growth of heat pumps in Australia during the forecasted period.

In 2022, With over 100 units from the Japanese manufacturer ITOMIC already installed in a variety of commercial and residential (apartment building) projects in Australia with COPs of up to 4, Automatic Heating, an Australian provider of heating and cooling systems to the commercial HVAC market, anticipates continued adoption of CO2 (R744) heat pumps in the local market. Government incentives also contribute to the rising popularity of effective CO2 units that have gained Australian standards certification. For instance, the state of Victoria is concentrating on reducing the demand for natural gas. It is particularly interested in continuing the electrification process by encouraging heat pumps in office buildings, council buildings, and aquatic centers to achieve net zero goals by 2030/2035, which will anticipate surging the demand for air-source heat pumps in Australia.

In 2022, the Australian Renewable Energy Agency (ARENA) announced USD 838,000 in funding for Hardwick Processors to install a 1 MW (thermal) demonstration-scale heat pump and upgrade the electrical supply system at its meat processing plant in Kyneton, Victoria. The funding was made accessible on behalf of the Australian government. Therefore, in the forecast period, along with the growth in residential sectors, air source heat pumps in commercial sectors are also gaining growth in Australia's industrial segment.



Browse over XX market data Figures spread through XX pages and an in-depth TOC on "Australia Air Source Heat Pump Market"


The Australia air source heat pump market is segmented into process, end use, and sales channel. Based on process, the market is segmented into Air to Air (Ducts, Ductless), Air to Water (Split, Integrated). Based on end use, the market is segmented into Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.). Based on sales channel, the market is segmented into Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and Others (Distributors, Builders, etc.).


Key market players in the Australia Air Source Heat Pump market include:

  • Stiebel Eltron (Aust) Pty Ltd
  • Daikin Australia Pty Ltd
  • Rheem Australia Pty Ltd
  • Aquamax Australia Pty. Limited
  • Robert Bosch (Australia) Pty Ltd
  • Evo Industries Australia Pty Ltd
  • Smart Lifestyle Australia Pty Ltd
  • Rinnai Australia Pty Ltd
  • Solargain Pty Ltd (iStore)
  • Mitsubishi Electric Australia Pty Ltd.


Various International and domestic companies are trying to enhance their market reach by increasing their research and development investment. For instance, in 2021, Rheem Australia introduced the latest Ambiheat heat pump water heater to provide households with a dependable, adaptable, and renewable solution. According to Rheem, with a COP (Coefficient of Performance) of 4.5, households with an ambiheat installed could save up to 64-71 percent of their usual water heating energy bill.


Download Free Sample Report

Customers can also request for 10% free customization on this report.


“There are numerous benefits of using heat pumps. An air source heat pump can assist consumers in reducing their carbon footprint and lower their energy bills compared to other water heaters. There are various other advantages of using heat pumps, such as high energy efficiency, affordability, ease of operation, etc., and heat pumps are cheaper to run, driving the growth of the air source heat pump market in Australia.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.


“Australia Air Source Heat Pump Market By Process (Air to Air (Ducts, Ductless), Air to Water (Split, Integrated)) By End Use (Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.)), By Sales Channel (Plumbers, Dealers & Contractors, Retail, Direct Sales, Online, and Others (Distributors, Builders, etc.)), By Region, Competition Forecast & Opportunities, 2018-2028F,” has evaluated the future growth potential of air source heat pump market in  Australia market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Australia air source heat pump market.


Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
Website: https://www.techsciresearch.com

Comments

Post a Comment

Popular posts from this blog

India Exfoliators & Scrub Market 2016-2026: Regional Analysis and Forecast | TechSci Research

Image
India exfoliators & scrub market is projected to witness significant growth by 2026, owing to the growing awareness towards getting proper & healthy skin among both men and women population of the country. Concerns like skin pigmentation, acne marks, discoloration and age spots are further supporting the demand for exfoliators and scrubs.  Moreover, the rising per capita income of the country is enabling consumers to spend on products like exfoliators and scrubs. The entry of leading international brands and launch of new products is expected to drive the India exfoliators and scrub market during the forecast period. Exfoliators and scrubs help in removing the dead skin cell present on the skin’s outermost surface. They consist of fine diatoms which protect the skin’s surface. The market is also witnessing high demand for herbal exfoliators and scrubs as consumers are now getting more aware about the harmful effects of chemical-based products on their skin. Further, rising dema
Read more

Saudi Arabia Testing, Adjusting, and Balancing (TAB) Services Market: Opportunities, Size and Growth Projections in Upcoming Years

Image
  Increasing HVAC installations, growing infrastructure and increasing tourism sector are propelling the growth of Saudi Arabia Testing, Adjusting, and Balancing (TAB) Services market. According to TechSci Research report,  “Saudi Arabia Testing, Adjusting, and Balancing (TAB) Services Market - Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2018- 2028F, ”  the Saudi Arabia Testing, Adjusting, and Balancing (TAB) Services market is expected to grow during the forecast period owing to the factors such as rising infrastructural activities, various events organized by government, and rising demand from the commercial sector. As well as promoting sustainable and energy-efficient systems, initiatives and activities are required to influence people's attitudes toward minimizing food loss and waste (FLW) through the use of HVAC systems. The Saudi Arabian refrigeration sector is expanding rapidly as there is an increasing need to prevent food waste. The need for HVAC
Read more

India Electric Rice Cooker Market 2018-2028: Emerging Opportunities | TechSci Research

Image
Increase in working professionals and the creation of new products will fuel the electric rice cooker market through the forecast period. According to TechSci Research report, “ India Electric Rice Cooker Market   – By Region Competition Forecast and Opportunities , 2018-2028F”  India's electric rice cooker market is forecasted to grow at an impressive CAGR during the forecast period because of reduced household spending and transition to electrical appliances. Growing acceptance of corporate work cultures, rising living standards, and an increase in the number of nuclear families all contribute to the market's expansion. I In addition to that, due to the availability of multifunction cooking appliances with smart functions, which is fueling the demand for electric rice cookers, the market for these appliances is anticipated to grow steadily during the anticipated period. The Go Electric campaign was started by the Indian government in February 2021 to raise public knowledge of
Read more