Global Industrial Heat Pumps Market Overview
Western Market Research estimates that the Industrial Heat Pumps Market was valued at USD xxxx million in 2025 and is projected to reach USD xxxx million by 2036, expanding at a CAGR of xx% during the forecast period 2026–2036.
Industrial heat pumps are high-capacity thermal systems that recover low-grade waste heat and upgrade it to useful process heat, enabling significant reductions in fossil fuel consumption and carbon emissions. They are increasingly deployed across energy-intensive industries to support decarbonization, energy efficiency, and electrification of industrial heat.
The Global Industrial Heat Pumps Market report delivers a comprehensive evaluation of market size, technology development, regulatory influence, competitive positioning, and long-term growth opportunities, integrating historical performance with forward-looking forecasts.
Impact of COVID-19 on the Industrial Heat Pumps Market
The COVID-19 pandemic caused short-term disruption in 2020 due to industrial shutdowns, delayed capital investments, and supply chain interruptions across manufacturing and process industries.
However, recovery accelerated from 2021 onward, driven by industrial restart programs, energy-efficiency mandates, rising fuel costs, and government stimulus focused on low-carbon technologies. Post-pandemic, industrial heat pumps gained strategic importance as industries sought resilient, electrified, and low-emission heating solutions.
Global Industrial Heat Pumps Market Segmentation
By Technology Type
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Air-to-Water Monobloc Heat Pumps
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Air-to-Water Cylinder Heat Pumps
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Split Air-to-Water Heat Pumps
-
Groundwater / Water-Source Heat Pumps
-
Exhaust Air & Waste-Heat Recovery Heat Pumps
By Temperature Range
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Low Temperature (Below 80°C)
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Medium Temperature (80–150°C)
-
High Temperature (Above 150°C)
By Capacity
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Below 1 MW
-
1–5 MW
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Above 5 MW
By Application
-
Pulp & Paper Industry
-
Food & Beverage Processing
-
Chemical & Petrochemical
-
Automotive Manufacturing
-
Oil Refining
-
Metal & Steel Processing
-
District & Industrial Heating
-
Other Process Industries
Regional Analysis
Europe
Europe leads the global market, supported by stringent decarbonization targets, carbon pricing mechanisms, and strong policy incentives for industrial electrification. Germany, France, and the Nordic countries are key adopters.
Asia-Pacific
Asia-Pacific is the fastest-growing region, driven by rapid industrialization, rising energy costs, and government-led efficiency initiatives in China, Japan, South Korea, and India.
North America
North America shows steady growth, supported by industrial energy optimization, corporate sustainability goals, and electrification of process heating, with the U.S. dominating regional demand.
South America
Moderate growth is observed due to industrial modernization and energy efficiency initiatives, particularly in Brazil and Argentina.
Middle East & Africa
Emerging growth is driven by industrial diversification, waste-heat recovery projects, and energy-intensive process optimization, especially in GCC countries.
Key Players in the Industrial Heat Pumps Market
Major companies operating in the global Industrial Heat Pumps market include:
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Emerson Electric
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Johnson Controls
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Mitsubishi Electric Corporation
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Bosch
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Daikin
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Danfoss
-
Oilon
-
ARANER
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GEA Refrigeration
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Mayekawa
-
Viessmann
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NIBE
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BDR Thermea Group
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Carrier
-
Stiebel Eltron
Porter’s Five Forces Analysis
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Threat of New Entrants: Moderate – High capital cost and engineering expertise required
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Bargaining Power of Suppliers: Moderate – Dependence on compressors, refrigerants, and control systems
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Bargaining Power of Buyers: High – Large industrial buyers negotiate on price and performance
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Threat of Substitutes: Moderate – Boilers, CHP systems, and electric resistance heating
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Competitive Rivalry: High – Competition on efficiency, temperature capability, and lifecycle cost
SWOT Analysis
Strengths
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Significant energy efficiency and carbon reduction potential
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Enables waste-heat recovery and electrification
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Long operational life and stable performance
Weaknesses
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High upfront capital investment
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Complex integration with legacy industrial processes
Opportunities
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Industrial decarbonization policies and carbon pricing
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Rising fuel and emission costs
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Expansion into high-temperature industrial applications
Threats
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Regulatory uncertainty in some regions
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Competition from alternative low-carbon heating technologies
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Skilled workforce and engineering constraints
Trend Analysis
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Rapid growth of high-temperature industrial heat pumps (>150°C)
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Integration with waste-heat recovery and district heating networks
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Adoption of natural refrigerants (CO₂, ammonia)
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Increasing use of digital monitoring and predictive maintenance
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Electrification of traditionally fossil-fuel-based industrial heat
Market Drivers & Challenges
Key Drivers
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Global industrial decarbonization targets
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Rising energy prices and carbon taxes
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Demand for waste-heat utilization and efficiency
Key Challenges
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High initial investment and long payback periods
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Engineering complexity for retrofit projects
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Limited awareness in developing regions
Value Chain Analysis
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Compressor & Refrigerant Suppliers
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Heat Exchanger & Control System Manufacturers
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Industrial Heat Pump OEMs
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System Integrators & EPC Contractors
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Industrial End Users
Strategic Recommendations for Stakeholders
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Manufacturers: Focus on high-temperature and natural-refrigerant heat pump innovation
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Industrial Operators: Integrate heat pumps with waste-heat recovery for maximum ROI
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Investors: Target Europe and Asia-Pacific decarbonization-driven projects
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Policy Makers: Expand incentives for industrial electrification and heat recovery
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EPC Firms: Develop turnkey retrofit solutions for legacy industrial plants
1. Market Overview of Industrial Heat Pumps
1.1 Industrial Heat Pumps Market Overview
1.1.1 Industrial Heat Pumps Product Scope
1.1.2 Market Status and Outlook
1.2 Industrial Heat Pumps Market Size by Regions: 2015 VS 2021 VS 2026
1.3 Industrial Heat Pumps Historic Market Size by Regions
1.4 Industrial Heat Pumps Forecasted Market Size by Regions
1.5 Covid-19 Impact on Key Regions, Keyword Market Size YoY Growth
1.5.1 North America
1.5.2 East Asia
1.5.3 Europe
1.5.4 South Asia
1.5.5 Southeast Asia
1.5.6 Middle East
1.5.7 Africa
1.5.8 Oceania
1.5.9 South America
1.5.10 Rest of the World
1.6 Coronavirus Disease 2019 (Covid-19) Impact Will Have a Severe Impact on Global Growth
1.6.1 Covid-19 Impact: Global GDP Growth, 2019, 2020 and 2021 Projections
1.6.2 Covid-19 Impact: Commodity Prices Indices
1.6.3 Covid-19 Impact: Global Major Government Policy
2. Covid-19 Impact Industrial Heat Pumps Sales Market by Type
2.1 Global Industrial Heat Pumps Historic Market Size by Type
2.2 Global Industrial Heat Pumps Forecasted Market Size by Type
2.3 Air to Water Monobloc Heat Pumps
2.4 Air to Water Cylinder Heat Pumps
2.5 Groundwater Heat Pump
2.6 Split air-to-water heat pumps
2.7 Exhaust Air Heat Pumps
3. Covid-19 Impact Industrial Heat Pumps Sales Market by Application
3.1 Global Industrial Heat Pumps Historic Market Size by Application
3.2 Global Industrial Heat Pumps Forecasted Market Size by Application
3.3 Papermaking Industrial
3.4 Food Industrial
3.5 Chemical
3.6 Automobile
3.7 Oil Refining Industrial
3.8 Metal Industrial
3.9 Others
4. Covid-19 Impact Market Competition by Manufacturers
4.1 Global Industrial Heat Pumps Production Capacity Market Share by Manufacturers
4.2 Global Industrial Heat Pumps Revenue Market Share by Manufacturers
4.3 Global Industrial Heat Pumps Average Price by Manufacturers
5. Company Profiles and Key Figures in Industrial Heat Pumps Business
5.1 Emerson Electric
5.1.1 Emerson Electric Company Profile
5.1.2 Emerson Electric Industrial Heat Pumps Product Specification
5.1.3 Emerson Electric Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.2 Johnson Controls
5.2.1 Johnson Controls Company Profile
5.2.2 Johnson Controls Industrial Heat Pumps Product Specification
5.2.3 Johnson Controls Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.3 Mitsubishi Electric Corporation
5.3.1 Mitsubishi Electric Corporation Company Profile
5.3.2 Mitsubishi Electric Corporation Industrial Heat Pumps Product Specification
5.3.3 Mitsubishi Electric Corporation Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.4 Bosch
5.4.1 Bosch Company Profile
5.4.2 Bosch Industrial Heat Pumps Product Specification
5.4.3 Bosch Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.5 Daikin
5.5.1 Daikin Company Profile
5.5.2 Daikin Industrial Heat Pumps Product Specification
5.5.3 Daikin Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.6 United Technologies
5.6.1 United Technologies Company Profile
5.6.2 United Technologies Industrial Heat Pumps Product Specification
5.6.3 United Technologies Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.7 Oilon
5.7.1 Oilon Company Profile
5.7.2 Oilon Industrial Heat Pumps Product Specification
5.7.3 Oilon Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.8 Danfoss
5.8.1 Danfoss Company Profile
5.8.2 Danfoss Industrial Heat Pumps Product Specification
5.8.3 Danfoss Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.9 ARANER
5.9.1 ARANER Company Profile
5.9.2 ARANER Industrial Heat Pumps Product Specification
5.9.3 ARANER Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.10 Fujitsu General
5.10.1 Fujitsu General Company Profile
5.10.2 Fujitsu General Industrial Heat Pumps Product Specification
5.10.3 Fujitsu General Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.11 LG Electronics
5.11.1 LG Electronics Company Profile
5.11.2 LG Electronics Industrial Heat Pumps Product Specification
5.11.3 LG Electronics Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.12 Panasonic
5.12.1 Panasonic Company Profile
5.12.2 Panasonic Industrial Heat Pumps Product Specification
5.12.3 Panasonic Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.13 Carrier
5.13.1 Carrier Company Profile
5.13.2 Carrier Industrial Heat Pumps Product Specification
5.13.3 Carrier Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.14 NIBE
5.14.1 NIBE Company Profile
5.14.2 NIBE Industrial Heat Pumps Product Specification
5.14.3 NIBE Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.15 Kobe Steel
5.15.1 Kobe Steel Company Profile
5.15.2 Kobe Steel Industrial Heat Pumps Product Specification
5.15.3 Kobe Steel Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.16 Vicking Heating Engines
5.16.1 Vicking Heating Engines Company Profile
5.16.2 Vicking Heating Engines Industrial Heat Pumps Product Specification
5.16.3 Vicking Heating Engines Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.17 Ochsner Energie Technik
5.17.1 Ochsner Energie Technik Company Profile
5.17.2 Ochsner Energie Technik Industrial Heat Pumps Product Specification
5.17.3 Ochsner Energie Technik Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.18 Hybrid Energy
5.18.1 Hybrid Energy Company Profile
5.18.2 Hybrid Energy Industrial Heat Pumps Product Specification
5.18.3 Hybrid Energy Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.19 Mayekawa
5.19.1 Mayekawa Company Profile
5.19.2 Mayekawa Industrial Heat Pumps Product Specification
5.19.3 Mayekawa Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.20 Conhitherm
5.20.1 Conhitherm Company Profile
5.20.2 Conhitherm Industrial Heat Pumps Product Specification
5.20.3 Conhitherm Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.21 Durr Thermea
5.21.1 Durr Thermea Company Profile
5.21.2 Durr Thermea Industrial Heat Pumps Product Specification
5.21.3 Durr Thermea Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.22 Friotherm
5.22.1 Friotherm Company Profile
5.22.2 Friotherm Industrial Heat Pumps Product Specification
5.22.3 Friotherm Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.23 Star Refrigeration
5.23.1 Star Refrigeration Company Profile
5.23.2 Star Refrigeration Industrial Heat Pumps Product Specification
5.23.3 Star Refrigeration Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.24 GEA Refrigeration
5.24.1 GEA Refrigeration Company Profile
5.24.2 GEA Refrigeration Industrial Heat Pumps Product Specification
5.24.3 GEA Refrigeration Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.25 Frigel
5.25.1 Frigel Company Profile
5.25.2 Frigel Industrial Heat Pumps Product Specification
5.25.3 Frigel Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.26 Gree Electric
5.26.1 Gree Electric Company Profile
5.26.2 Gree Electric Industrial Heat Pumps Product Specification
5.26.3 Gree Electric Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.27 Stiebel Eltron
5.27.1 Stiebel Eltron Company Profile
5.27.2 Stiebel Eltron Industrial Heat Pumps Product Specification
5.27.3 Stiebel Eltron Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.28 Swegon Group
5.28.1 Swegon Group Company Profile
5.28.2 Swegon Group Industrial Heat Pumps Product Specification
5.28.3 Swegon Group Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.29 Sanden International
5.29.1 Sanden International Company Profile
5.29.2 Sanden International Industrial Heat Pumps Product Specification
5.29.3 Sanden International Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.30 Aermec
5.30.1 Aermec Company Profile
5.30.2 Aermec Industrial Heat Pumps Product Specification
5.30.3 Aermec Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.31 Glen Dimplex
5.31.1 Glen Dimplex Company Profile
5.31.2 Glen Dimplex Industrial Heat Pumps Product Specification
5.31.3 Glen Dimplex Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.32 Vaillant
5.32.1 Vaillant Company Profile
5.32.2 Vaillant Industrial Heat Pumps Product Specification
5.32.3 Vaillant Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.33 A. O. Smith
5.33.1 A. O. Smith Company Profile
5.33.2 A. O. Smith Industrial Heat Pumps Product Specification
5.33.3 A. O. Smith Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.34 Viessmann
5.34.1 Viessmann Company Profile
5.34.2 Viessmann Industrial Heat Pumps Product Specification
5.34.3 Viessmann Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
5.35 BDR Thermea Group
5.35.1 BDR Thermea Group Company Profile
5.35.2 BDR Thermea Group Industrial Heat Pumps Product Specification
5.35.3 BDR Thermea Group Industrial Heat Pumps Production Capacity, Revenue, Price and Gross Margin
6. North America
6.1 North America Industrial Heat Pumps Market Size
6.2 North America Industrial Heat Pumps Key Players in North America
6.3 North America Industrial Heat Pumps Market Size by Type
6.4 North America Industrial Heat Pumps Market Size by Application
7. East Asia
7.1 East Asia Industrial Heat Pumps Market Size
7.2 East Asia Industrial Heat Pumps Key Players in North America
7.3 East Asia Industrial Heat Pumps Market Size by Type
7.4 East Asia Industrial Heat Pumps Market Size by Application
8. Europe
8.1 Europe Industrial Heat Pumps Market Size
8.2 Europe Industrial Heat Pumps Key Players in North America
8.3 Europe Industrial Heat Pumps Market Size by Type
8.4 Europe Industrial Heat Pumps Market Size by Application
9. South Asia
9.1 South Asia Industrial Heat Pumps Market Size
9.2 South Asia Industrial Heat Pumps Key Players in North America
9.3 South Asia Industrial Heat Pumps Market Size by Type
9.4 South Asia Industrial Heat Pumps Market Size by Application
10. Southeast Asia
10.1 Southeast Asia Industrial Heat Pumps Market Size
10.2 Southeast Asia Industrial Heat Pumps Key Players in North America
10.3 Southeast Asia Industrial Heat Pumps Market Size by Type
10.4 Southeast Asia Industrial Heat Pumps Market Size by Application
11. Middle East
11.1 Middle East Industrial Heat Pumps Market Size
11.2 Middle East Industrial Heat Pumps Key Players in North America
11.3 Middle East Industrial Heat Pumps Market Size by Type
11.4 Middle East Industrial Heat Pumps Market Size by Application
12. Africa
12.1 Africa Industrial Heat Pumps Market Size
12.2 Africa Industrial Heat Pumps Key Players in North America
12.3 Africa Industrial Heat Pumps Market Size by Type
12.4 Africa Industrial Heat Pumps Market Size by Application
13. Oceania
13.1 Oceania Industrial Heat Pumps Market Size
13.2 Oceania Industrial Heat Pumps Key Players in North America
13.3 Oceania Industrial Heat Pumps Market Size by Type
13.4 Oceania Industrial Heat Pumps Market Size by Application
14. South America
14.1 South America Industrial Heat Pumps Market Size
14.2 South America Industrial Heat Pumps Key Players in North America
14.3 South America Industrial Heat Pumps Market Size by Type
14.4 South America Industrial Heat Pumps Market Size by Application
15. Rest of the World
15.1 Rest of the World Industrial Heat Pumps Market Size
15.2 Rest of the World Industrial Heat Pumps Key Players in North America
15.3 Rest of the World Industrial Heat Pumps Market Size by Type
15.4 Rest of the World Industrial Heat Pumps Market Size by Application
16 Industrial Heat Pumps Market Dynamics
16.1 Covid-19 Impact Market Top Trends
16.2 Covid-19 Impact Market Drivers
16.3 Covid-19 Impact Market Challenges
16.4 Porter
Global Industrial Heat Pumps Market Segmentation
By Technology Type
-
Air-to-Water Monobloc Heat Pumps
-
Air-to-Water Cylinder Heat Pumps
-
Split Air-to-Water Heat Pumps
-
Groundwater / Water-Source Heat Pumps
-
Exhaust Air & Waste-Heat Recovery Heat Pumps
By Temperature Range
-
Low Temperature (Below 80°C)
-
Medium Temperature (80–150°C)
-
High Temperature (Above 150°C)
By Capacity
-
Below 1 MW
-
1–5 MW
-
Above 5 MW
By Application
-
Pulp & Paper Industry
-
Food & Beverage Processing
-
Chemical & Petrochemical
-
Automotive Manufacturing
-
Oil Refining
-
Metal & Steel Processing
-
District & Industrial Heating
-
Other Process Industries
