Heat Pumps Market estimated to grow at a CAGR 6.04% to reach US$70.319 billion by 2025

knowledgesourcing

posted on 5 years ago — updated on 1 second ago

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A heat pump is a device that helps to transfer heat from colder places to hot places with the help of mechanical energy.

The rapid industrialization and urbanization, especially in developing economies is one of the key factors driving the market growth during the next five years.

According to the report, the heat pumps market is projected to increase at a CAGR of 6.04% over the forecast period 2019-2025.

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knowledgesourcing

Knowledge Sourcing Intelligence is a market research and consulting firm based out of India. Steered by some of the industry experts, the company provides syndicated reports, custom research, and consulting services. Our proprietary data analytics model blended with quality primary and secondary research data assists in generating quality reports providing crucial insights to managers and decision-makers. The services offered by us help companies to gain the required competitive edge.