How big is the Industrial Heat Pump Market | Size, Trends & Expansion 2025

Q: How big is the industrial heat pump market be worth by 2031?

The market is expected to surpass USD 18.6 billion by 2031.

Q: What is driving growth in the industrial heat pump market?

Key drivers include rising energy efficiency mandates, decarbonization of industrial heating, and increased adoption of renewable energy technologies.

Q: What are the current trends in the industrial heat pump market?

Key trends include integration with smart controls and increased use of low-GWP refrigerants.

Q: Who are the major players in this market?

Prominent companies include Mitsubishi Electric, Danfoss, Johnson Controls, GEA Group, and Siemens Energy.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA6569

Publication Date: Jul 2025

How Big Is the Industrial Heat Pump Market?

According to 6Wresearch internal database and industry insights, theindustrial heat pump market was valued atUSD 7.9 billion in 2024 and is projected to reach overUSD 18.6 billion by 2031, growing at a robustCAGR of 13.9% during the forecast period.

The market is gaining traction due to increasing industrial electrification, demand for decarbonization of industrial heating, and the adoption of sustainable alternatives to fossil-fuel-based boilers.

Growth Factors of the Industrial Heat Pump Market

Rising shift toward decarbonizing heat generation in industries
Government incentives for energy-efficient heating technologies
Advancements in high-temperature heat pump technologies
Increasing electricity share in the global energy mix
Growing industrial applications in chemicals, pulp & paper, and food processing
Reducing operating costs of heat pumps versus traditional boilers over time

Industrial Heat Pump Market Trends

Industrial Heat Pump Market is witnessing rising investments in high-temperature systems capable of reaching up to 160°C and beyond, catering to heavy industrial processes. There is a noticeable trend toward hybrid systems that combine heat pumps with renewable energy or district heating.

Digital control technologies and AI-based energy monitoring are increasingly being integrated to enhance operational efficiency, while regional governments in Europe and Asia are pushing heat pump installations as part of climate-neutral manufacturing agendas.

Emerging Developments in Industrial Heat Pump Market

In the Industrial Heat Pump Market, recent developments include the emergence of large-scale modular heat pump solutions tailored for industrial retrofitting, along with the integration of CO₂ and ammonia-based refrigerants to meet environmental regulations.

Industry leaders are collaborating with governments and energy firms to set up demonstration plants and pilot projects showcasing decarbonized industrial heating. Additionally, companies are exploring the combination of waste heat recovery with industrial heat pumps to maximize energy reuse.