The new pool heat pump market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Pool Heat Pump Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the pool heat pump market.
"One of the primary growth drivers for this market is the product developments focusing on energy efficiency," says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the pool heat pump market size to grow by USD 522.56 million during the period 2020-2024.
Pool Heat Pump MarketSegment Highlights for 2020
The pool heat pump market is expected to post a year-over-year growth rate of -5.35%.
Based on the product, the gas pool heat pump segment led the market in 2019.
The growth of the market in the gas pool heat pump segment will be significant during the forecast period.
39% of the growth will originate from the Europe region.
Factors such as the increased preference for silent pool heat pumps and the rising use of reverse cycle pool heat pumps are driving the growth of the market in Europe.
Russian Federation and Germany are the key markets for pool heat pumps in Europe. This report provides an accurate prediction of the contribution of all segments to the growth of the pool heat pump market size.
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
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The pool heat pump market size is expected to accelerate at a CAGR of over 3% during the forecast period.
The pool heat pump market is segmented by Product (Gas pool heat pump, Solar pool heat pump, and Electric pool heat pump), End-user (Commercial and Residential), and Geography (Europe, APAC, North America, MEA, and South America).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including AquaPro Systems, Dantherm AS, Elecro Engineering Ltd., G&F Manufacturing, Hayward Industries Inc., Pahlen AB, Pentair Plc, Rheem Manufacturing Co., Team Horner Group, and Thermeau Industries inc.
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