Heat Pumps market to grow by just under 10% CAGR over next 4 years

Heat Pumps are a type of air conditioning such as a heat pump, which is an energy-efficient machine that can suck in cold outdoor air and emit warm air indoors. A refrigerant called R-22 is used to create the effect of cooling the atmosphere.

It uses electricity or natural gas, with lower cost than other air conditioning systems such as the ones that use Freon. The major advantage of a heat pump over other types of air conditioners is that it will not make your home feel like an icebox.

Types of heat pumps:

Air-to-Air Systems: These systems are typically low-capacity and low in efficiency. They are mainly for cooling purposes, but not heating purposes.

Air-to-Water Systems: These systems are often found in commercial or industrial settings that use water to cool the air.

Hydronic Heat Pumps: This type of system will pump heated water through a network of pipes throughout a home’s interior, using less electricity than other types of heat pumps. It also heats the home by exchanging heat with the outside air and using the same network of pipes to distribute cool air inside when necessary.

Geothermal Heat Pumps: These systems can be used in colder climates where temperatures dip to -5 degrees. The systems use the Earth’s temperature, which is colder in comparison, to deliver heat. This type of system requires a small hole be dug in the ground into which tubing will be placed.

Heat pumps work by drawing outside air and pumping it through a series of coils filled with refrigerant that absorbs or gives off heat. The refrigerant is then circulated through a copper (or aluminum) plate or fin to transfer the heat, causing it to cool. In this process, R-22 is evaporated and absorbs energy from the outside air, thus cooling your home.

Heat pump systems are highly efficient and small enough for homeowners to install on their own, resulting in a significant cost savings over a comparable heating system.

Manufacturers of Heat pumps:

Amana: A subsidiary of Goodman Manufacturing Company, this company manufactures and markets residential and commercial air conditioning and heating systems.

Daikin: This Japanese company is one of the world’s largest producers of residential HVAC systems.

Goodman Manufacturing Company: This company develops and manufactures refrigeration products.

Honeywell International Inc.: Honeywell produces a full line of HVAC equipment for both residential and commercial use.

York International Corporation: This company is the inventor of the modern heat pump system.

Some other companies are as follows: Vaillant, Trane, Glen Dimplex, Stiebel Eltron, Green Planet Supply Technologies, Viessmann, Bosch Thermotechnology,

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