The Latin America, Middle East and Africa Heat Pump Market would witness market growth of 9.3% CAGR during the forecast period (2019-2025). A heat pump acts as a normal air conditioner during the warmer seasons. It removes heat from within the home and gives it to the outdoor air. During colder weather, however, the cycle reverses - the unit absorbs heat from the outdoor air and moves it to the house. Even if the air outside is extremely cold, there is still some heat in the atmosphere. If there is not enough warmth in the outdoor air to meet the need for thermostat setting, an electric heater brings the outdoor air to warm the house. This process is highly efficient as it produces two to three times more heat from the energy it consumes.
The heat pump can also be an effective add-on alternative to be used in combination with an existing gas furnace. With this dual-fuel option, both systems share the heating load, yet never operate at the same time. The heat pump is the main heating and cooling system. But, when the temperature drops below the capacity of the heat pump to work as effectively as the gas furnace, the gas furnace must take over until the temperature goes up enough to allow the heat pump to work more efficiently.
Based on Technology, the market is segmented into Air Source, Water Source and Ground Source. Based on Application, the market is segmented into Residential, Industrial and Commercial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include United Technologies Corporation (Carrier Corporation), Daikin Industries Ltd., NIBE Industrier AB, Viessmann Group, Ingersoll-Rand PLC, Stiebel Eltron GmbH & Co. KG, Robert Bosch GmbH (Bosch Thermotechnology Corporation), Panasonic Corporation, Mitsubishi Electric Corporation and The Glen Dimplex Group.
Market Segmentation:
By Technology
By Application
By Country
Companies Profiled
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