Spain 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 Distribution Channel (Direct, Indirect), By Region, By Company, Forecast & Opportunities, 2018-2028

Customization Enquiry

Buy Now

Summary

Report Description

The Spain Air Source Heat Pump Market size is anticipated to grow at an impressive CAGR during the forecast period due to a rise in energy-efficient, cost-effective heating and cooling appliances in both residential and commercial segments. In addition, it is anticipated that the Spain market for air source technology will be driven by the rising population and the growing need for environment friendly air conditioning in the residential sector.

A heat pump is a thermodynamic device that absorbs heat from the air outside a building and uses it to cool or heat a building and provide hot water. The demand for air-source heat pumps has significantly increased in recent years as awareness has grown and technology has advanced. When the inside house is more desirable than the outside, they pump in cold air to cool it; the opposite happens when the house is cold. In ASHP, only electricity is required to operate the compressor and its accessories. A heat pump uses3–4 times lesser electricity than its energy output. No other system can surpass a heat pump in terms of effectiveness and operating costs. Air Source Heat pumps (ASPH) can be classified into two major types based on their process air-to-water and air-to-air heat pumps. In Air-to-Water Heat Pump, pump extracts the heat in the air from the exterior of the house and uses it to heat the water used in the radiators, while Air to Air Pump carries air, transforming cold into hot air and disperses it around the house using fan coils. This mechanism can also reverse in summer, turning hot air into the cold.

In 2020, according to Energy Monitor's analysis of European Heat Pump Association (EHPA) data, in Spain, around 128,000 heat pumps were sold. In 2021, Royal Decree (a legal document issued by the Spanish government) established the basic framework for a EUR 150 million incentive program for private businesses and governmental organizations. The maximum subsidy allowed by this program for air-source heat pumps is 1,000 EUR per kW. The total subsidy is 45% for smaller businesses and 35% for large companies. Moreover, in 2022, a new gas pump was developed by scientists in Spain, which can generate 6.49 kWh of heat for each power it consumes. The appliance can heat water up to 75 degree Celsius. By using propane as a refrigerant, the device can achieve optimal energy efficiency and carbon dioxide emissions to almost zero.

The electricity cost of the heat pump can be calculated by multiplying the electricity consumption of the heat pump to electricity prices PER kWh, as the electricity cost in Spain is USD 0.333 when multiplied by annual electricity consumption for heating and hot water 3809 kWh/year(assumed) is USD 1300 in Spain.

Government Initiatives in Spain Fuels the Market Growth

In 2021, the Spanish government approved the subsidy scheme for thermal energy production to assist renewable energy projects in the industry and service sectors that require low- and medium-temperature heat. Also, under climate law, the government of Spain has set a goal to reach 100% use of renewable energy in the power sector by 2050, which will gradually phase out the use of fossil fuels in the electricity supply. According to Spain’s recovery plan, the energy efficiency program, which has a €6.8 billion budget over the next three years, will fund renovations to public buildings as well as the creation of new social housing and improvements to private dwellings, including greater insulation, photovoltaic panels, and heat pumps. Moreover, the long-term strategy of Spain of carbon neutrality by 2050 is anticipated that renewable energy will help compensate for 97% of the energy used for heating and cooling by utilizing heat pumps, biomass, renewable hydrogen, and solar power. Therefore, due to various initiatives mentioned above by the Spain government towards the use of renewable energy for carbon neutrality, heat pumps will gain popularity in the upcoming years which will increase the demand for air source heat pumps in Spain.

High Durability along with Low Maintenance Cost Drives the Market Growth

A heat pump with an air source often has a longer lifespan. They have cutting-edge advanced technology designed to last, which keeps them working for a long time. Even though air source heat pump water heaters cost more than other traditional water heater types, they save money over time. They are more durable than conventional water heaters, which have shorter lifespans and frequently need to be replaced. Another beneficial aspect of an air source heat pump is its low maintenance needs. For any item, maintenance issues can be an unnecessary expense and a hassle for the user. Compared to other water heating systems, heat pump water heaters require less maintenance because of their simple operations. All these features will raise the demand for air-source heat pumps in Spain.

Demand of Energy Efficient Devices Drives the Market Growth

According to data from Eurostat, 22% of the world's heating and cooling needs are currently met by renewable energy sources, with the majority still being met by conventional fossil fuels at roughly 75%. Heat pumps can provide functional heat using one-third to one-fifth of the electricity required by traditional electric equipment by using electricity to extract ambient heat from the ground, water, or air. Due to the Net Zero Scenario's rapid reductions in emissions from the power supply and rising technological efficiency, heat pumps in Spain would emit less CO2 before 2025 than natural gas-fired condensing boilers. To achieve the energy and climate goals set by the European Union (EU), Therefore, due to the shift from fossil fuels to renewable energy, heat pumps will gain popularity in Spain in the upcoming years, which will increase the demand for air source heat pump Spain market.


Download Free Sample Report

Market Segmentation

Spain's air source heat pump market is segmented into the process, end-use, and Distribution Channels. Based on the process, the market is segmented into Air-to-Air (Ducts, Ductless) and Air-to-Water (Split, Integrated). Based on end users, the market is segmented into Residential, Hotels & Resorts, Gyms & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.). Based on Distribution Channel, the market is segmented into Direct, Indirect. The market analysis also studies the regional segmentation divided among Northern Spain, Western Spain, Southern Spain, Eastern Spain, Southern Western Spain, Central Spain.

Market Players

Panasonic Marketing Europe GmbH; Daikin Europe N.V.; Mitsubishi Electric Europe B.V.; Toshiba Europe Limited; DENSO Europe BV; Argoclima S.p.A.; Ecopropulsion S.L; Bio Ecoforest, S.L.; Dancon – Benita Costa del Sol SL; Chromagen España, SLU; are the major market players in Spain air source heat pump market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, Volume in Thousand Units and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Process

·         End Use

·         Distribution Channel

·         Region

Regional scope

North Spain; Madrid, Extremadura & Castilla; Aragon & Catalonia; Andalusia, Murcia & Valencia;

Key companies profiled

Panasonic Marketing Europe GmbH; Daikin Europe N.V.; Mitsubishi Electric Europe B.V.; Toshiba Europe Limited; DENSO Europe BV; Argoclima S.p.A.; Ecopropulsion S.L; Bio Ecoforest, S.L.; Dancon – Benita Costa del Sol SL; Chromagen España, SLU

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Spain air source heat pump market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Spain Air Source Heat Pump Market, By Process:
    • Air-to-Air
    • Air-to-Water
  • Spain Air Source Heat Pump Market, By End Use:
    • Residential
    • Hotels & Resorts
    • Gym & Spas
    • Education
    • Food Service
    • Others
  • Spain Air Source Heat Pump Market, By Distribution Channel:
    • Direct
    • Indirect
  • Spain Air Source Heat Pump Market, By Region:
    • North Spain
    • Madrid, Extremadura & Castilla
    • Aragon & Catalonia
    • Andalusia, Murcia & Valencia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Spain air source heat pump market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Spain Air Source Heat Pump Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Sample Size Determination

4.2.  Respondent Demographics

4.2.1.    By Gender

4.2.2.    By Age

4.2.3.    By Occupation

4.3.  Preferred Way for Heating Water

4.4.  Brand Awareness

4.5.  Sources of Awareness

4.6.  Factors Influencing Purchase Decision

4.7.  Challenges Faced Post Purchase

5.    Spain Air Source Heat Pump Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.1.2.    By Volume      

5.2.  Market Share & Forecast

5.2.1.    By Process Market Share Analysis (Air to Air (Ducts, Ductless), Air to Water (Split, Integrated)) 

5.2.2.    By End Use Market Share Analysis (Residential, Hotels & Resorts, Gym & Spas, Education, Food Service, and Others (Healthcare, Offices, etc.)

5.2.3.    By Distribution Channel (Direct, Indirect)

5.2.4.    By Regional Market Share Analysis

5.2.4.1.        North Spain Market Analysis

5.2.4.2.        Madrid, Extremadura & Castilla Market Analysis

5.2.4.3.        Aragon & Catalonia Market Analysis

5.2.4.4.        Andalusia, Murcia & Valencia Market Analysis

5.2.5.    By Top 5 Companies Market Share Analysis, Others (2022)

5.3.  Spain Air Source Heat Pump Market Mapping & Opportunity Assessment

5.3.1.    By Process Market Mapping & Opportunity Assessment

5.3.2.    By End Use Market Mapping & Opportunity Assessment

5.3.3.    By Distribution Channel Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    Spain Air-to-Air Heat Pump Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.1.2.    By Volume

6.2.  Market Share & Forecast

6.2.1.    By Type Market Share Analysis (Ducts, Ductless)

6.2.2.    By End Use Market Share Analysis

6.2.3.    By Distribution Channel Market Share Analysis

6.3.  Product Benchmarking (Best Selling SKU’s)

7.    Spain Air-to-Water Heat Pump Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.1.2.    By Volume

7.2.  Market Share & Forecast

7.2.1.    By Type Market Share Analysis (Split, Integrated)

7.2.2.    By Tank Capacity Market Share Analysis (Less than 200L, 200L to 300L, More than 300L)

7.2.3.    By End Use Market Share Analysis

7.2.4.    By Distribution Channel Market Share Analysis

7.3.  Product Benchmarking (Best Selling SKU’s)

8.    Market Dynamics

8.1.  Drivers

8.1.1.    Rise in Government Initiatives

8.1.2.    High Durability

8.1.3.    Advantage over Conventional Water Heating Systems

8.2.  Challenges

8.2.1.    High Installation Cost

8.2.2.    Issues in Extreme Cold Weather

9.    Impact of COVID-19 on Spain Air Source Heat Pump Market

9.1.  Impact Assessment Model        

9.1.1.    Key Segments Impacted

9.1.2.    Key Regions Impacted

10.  Market Trends & Developments

10.1.   Growing Environmental Concerns

10.2.   Decreasing Usage of Fossil Fuels

10.3.   Awareness Towards Government Rebates

10.4.   Adoption of Environment Friendly Energy Solution

10.5.   Preference of Air source Heat Pump Over Other Heating Methods

11.  Porter’s Five Forces Model

11.1.   Competition Landscape

11.2.   Bargaining Power of Buyers

11.3.   Bargaining Power of Suppliers

11.4.   Threat of New Entrants

11.5.   Threat of Substitutes

12.  SWOT Analysis

12.1.   Strengths

12.2.   Weaknesses

12.3.   Opportunities

12.4.   Threats

13.  Policy and Regulatory Landscape

14.  Spain Economic Profile

15.  Competitive Landscape

15.1.   Company Profiles

15.1.1. Panasonic Marketing Europe GmbH

15.1.1.1.     Company Details

15.1.1.2.     Products & Services

15.1.1.3.     Financials (As Reported)

15.1.1.4.     Key Market Focus & Geographical Presence

15.1.1.5.     Recent Developments

15.1.1.6.     Key Management Personnel

15.1.2. Daikin Europe N.V.

15.1.2.1.     Company Details

15.1.2.2.     Products & Services

15.1.2.3.     Financials (As Reported)

15.1.2.4.     Key Market Focus & Geographical Presence

15.1.2.5.     Recent Developments

15.1.2.6.     Key Management Personnel

15.1.3. Mitsubishi Electric Europe B.V.

15.1.3.1.     Company Details

15.1.3.2.     Products & Services

15.1.3.3.     Financials (As Reported)

15.1.3.4.     Key Market Focus & Geographical Presence

15.1.3.5.     Recent Developments

15.1.3.6.     Key Management Personnel

15.1.4. Toshiba Europe Limited

15.1.4.1.     Company Details

15.1.4.2.     Products & Services

15.1.4.3.     Financials (As Reported)

15.1.4.4.     Key Market Focus & Geographical Presence

15.1.4.5.     Recent Developments

15.1.4.6.     Key Management Personnel

15.1.5. DENSO Europe BV

15.1.5.1.     Company Details

15.1.5.2.     Products & Services

15.1.5.3.     Financials (As Reported)

15.1.5.4.     Key Market Focus & Geographical Presence

15.1.5.5.     Recent Developments

15.1.5.6.     Key Management Personnel

15.1.6. Argoclima S.p.A.

15.1.6.1.     Company Details

15.1.6.2.     Products & Services

15.1.6.3.     Financials (As Reported)

15.1.6.4.     Key Market Focus & Geographical Presence

15.1.6.5.     Recent Developments

15.1.6.6.     Key Management Personnel

15.1.7. Ecopropulsion S.L

15.1.7.1.     Company Details

15.1.7.2.     Products & Services

15.1.7.3.     Financials (As Reported)

15.1.7.4.     Key Market Focus & Geographical Presence

15.1.7.5.     Recent Developments

15.1.7.6.     Key Management Personnel

15.1.8. Bio Ecoforest, S.L.

15.1.8.1.     Company Details

15.1.8.2.     Products & Services

15.1.8.3.     Financials (As Reported)

15.1.8.4.     Key Market Focus & Geographical Presence

15.1.8.5.     Recent Developments

15.1.8.6.     Key Management Personnel

15.1.9. Dancon – Benita Costa del Sol SL

15.1.9.1.     Company Details

15.1.9.2.     Products & Services

15.1.9.3.     Financials (As Reported)

15.1.9.4.     Key Market Focus & Geographical Presence

15.1.9.5.     Recent Developments

15.1.9.6.     Key Management Personnel

15.1.10.               Chromagen España, SLU

15.1.10.1.   Business Overview

15.1.10.2.   Company Details

15.1.10.3.   Products & Services

15.1.10.4.   Financials (As Reported)

15.1.10.5.   Key Market Focus & Geographical Presence

15.1.10.6.   Recent Developments

15.1.10.7.   Key Management Personnel

16.  Strategic Recommendations/Action Plan

16.1.   Key Focus Areas

16.2.   Target Process

16.3.   Target End User

17.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

down-arrow

Depending on the size of the home, the energy efficiency ratings, the brand name, and the type of heat pump for installation, a heat pump ranges between USD3,875 to USD7,625.

down-arrow

The Spain air source heat pump market is being stimulated due to its high efficiency, durability, and low maintenance requirement.

down-arrow

The scheme allows EUR 1,000 for an air source heat pump per kW. The maximum subsidy offered is 35% for large companies and 45% for smaller ones in heat pump installation.

down-arrow

Panasonic Marketing Europe GmbH; Daikin Europe N.V.; Mitsubishi Electric Europe B.V.; Toshiba Europe Limited; DENSO Europe BV; Argoclima S.p.A.; Ecopropulsion S.L; Bio Ecoforest, S.L.; Dancon – Benita Costa del Sol SL; Chromagen España, SLU etc. are the key players in The Spain Air Source Heat Pump Market.

Related Reports

profile

Parvati Sharma

Account Manager BD
Press Release

Spain Air Source Heat Pump Market Air to be Dominated by Water Heat Pumps During the Forecast Period

Aug, 2023

Spain Air Source Heat Pump Market is driven by the changing preference from the traditional heating system to efficient and environment-friendly heating systems and increasing government policy suppo

Why Choose Us