Industrial Hot Water Heat Pump Market Dynamics
The production and consumption of energy lead to the emission of carbon dioxide (CO2), which is released in large quantities by burning fossil fuels such as coal, oil and natural gas. Due to the increase in carbon dioxide emissions, the goal of many countries is to reduce their primary energy demand and implement policies to limit greenhouse gas emissions. Hot water heat pump system is one of the most promising technologies to reduce greenhouse gas emissions. Industrial hot water heat pump provides an energy-saving method that can provide heat through air heat and geothermal technology. Exhaust gas, groundwater, and surface water (lakes, rivers or ponds) are other examples of commonly used heat sources. The heat pump water heater absorbs environmental heat from the air, water and ground at low temperatures, and raises the water temperature through energy input (mainly electrical energy). In order to heat water, an air source or water source heat pump uses 66% to 80% of the heat of the renewable heat source in the environment, and 20% to 33% of electric energy for the heat pump compressor. Therefore, by using heat pump water heater systems instead of fossil fuel-based systems, carbon emissions associated with energy consumption and power generation can be significantly reduced. This has promoted the increase in the number of heat pump water heater installations in residential, commercial and industrial sectors.
Hot water heat pump systems are used to improve energy efficiency in residential, commercial and industrial sectors, reduce energy costs and reduce carbon emissions. There are two types of heat pump water heaters: air heat pump (air source heat pump) and geothermal heat pump (ground source heat pump). Air source heat pump water heaters are more common because they are cheap and inefficient, and cannot serve most households and small commercial buildings. Due to the underground installation, the installation cost of geothermal heat pump water heaters is usually higher. HDPE pipes must be buried underground, which requires a team of experts at least three days to install the pipes and the entire system, although they are more efficient and can serve larger buildings.
The installation cost of hot water heat pump system for residential, commercial and industrial applications depends on various factors. For example, in residential applications, the installation cost of all heat pump systems depends on the size of the house, the additional piping system, the type of equipment, and the British Thermal Unit (BTU) value of the equipment. The installation cost of hot water heat pump also depends on the complexity, type, brand and size of the heat pump. Therefore, high installation costs are a challenge and may hinder the growth of the heat pump market.