Report Code: A14520 | Pages: NA | Mar 2023 | 1419 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Commercial Heat Pump Water Heater Market
Request Now !Commercial heat pump water heaters are used to move heat from the source to a sink, by utilizing electricity instead of generating heat directly. Heat pumps are used to facilitate the movement of thermal energy by absorbing heat from a cold space and releasing it to a warmer one, opposed to the direction of natural heat transfer. It tends to cool the sites they are installed in. An air-source heat pump system combines heating, cooling, and water heating. These combination systems pull their heat inside from the outside air in the winter and vice versa in the summer. Since, it takes away heat from the air, any type of air-source commercial heat pump system works more efficiently in a warm climate.
Market Scope and Structure Analysis
The commercial heat pump water heater market is being driven by the need for energy efficient technology that uses unconventional sources of energy in order to heat water. In addition, supportive regulations and grants offered by the government for utilizing the renewable sources of energy in applications like water heating are also anticipated to play a pivotal part in the growth of commercial heat pump water heaters market during the forecast period.
COVID-19 Impact analysis
The commercial heat pump water heater market faced the negative impact of the COVID 19 pandemic as the implementation of lockdowns across the globe as a measure to prevent the widespread of the COVID 19 pandemic, the construction and hospitality activities for both residential and commercial segment were on a halt or cancelled. The maintenance of the pre-existing structures were also postponed. On the other hand, the supply chain got disrupted, hampering movement of man, material and money to restore the growth of the global commercial heat pump water heater market. Furthermore, the financial health of the hospitality, construction & building industry as well as individuals also suffered from the impact of COVID 19 pandemic rendering the businesses unable to construct and the public unable to purchase or renovate their establishments. All these factors, cumulatively led to the decline in the sales and revenue of the commercial heat pump water heater.
Top Impacting Factors
Market Trends
Key Benefits of the Report
Commercial Heat Pump Water Heater Market Report Highlights
Aspects | Details |
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By Type |
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By Storage |
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By Capacity |
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By Refrigerant |
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By Region |
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Key Market Players | A.O. Smith Corporation, Bosch Industries, Daikin, Ingersoll Rand, Midea Group, Mitsubishi Electric, NIBE Energy Systems, RHEEM Manufacturing Company, Valliant Group, Viessmann Group. |
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