Heat pumps operate on the mechanical-compression cycle refrigeration concept, which can be reversed to heat or cool a facility's desired space. As a result, they're increasingly being employed for space heating and cooling.
Heat pumps are made up of two primary components: an external
unit that looks a lot like a central air conditioner and an indoor air handler.
The outdoor unit is made up of a compressor that circulates refrigerant and is
responsible for absorbing and releasing heat between the outside and inside
units.
The increased need for air conditioning as a result of the
rise of the housing and commercial sectors, as well as government subsidies
aimed at improving energy efficiency and lowering carbon emissions, has raised the
demand for these products. Furthermore, because of their cost-effective air
conditioning, demand has surged for residential facilities.
This heat
pump market report details recent developments, trade
regulations, import-export analysis, production analysis, value chain
optimization, market t share, impact of domestic and localized market players,
analyses opportunities in terms of emerging revenue pockets, changes in market
regulations, strategic market growth analysis, market size, category market
growths, application niches and dominance, product approvals, product launches,
geographical sizing, and market share.
Due to a short halt in production activity and lower demand
for HVAC equipment, the market's growth rate dropped dramatically. The
disturbances in the transportation network also caused delays in the delivery
of air conditioners and heat pumps, as well as new installation projects.