The Heat Pump market in China is to grow at a CAGR of 27.66 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for air source heat pumps. The Heat Pump market in China has also been witnessing the increase in awareness about the latest technology. However, the need for high initial investment could pose a challenge to the growth of this market.
Increasing awareness about the latest technological developments is one of the major trends in the Heat Pump market in China. Several organizations in China started creating awareness regarding the latest technological developments and the benefits of implementation of heat pumps in various buildings such as industrial buildings, commercial buildings, and residential buildings. Thus, several vendors in the Heat Pump market in China exhibit their products at exhibitions and air their advertisements across the television channels. Further, they also conduct road shows in several cities across the developing provinces in China.
One of the main drivers is the increasing demand for air source heat pumps. The adoption of air source heat pumps is increasing in China as they are more energy efficient and comparatively cheaper than other conventional heating equipment.
The key vendors dominating this market space are Daikin Industries, Ltd., Sirac Air Conditioning Equipments Co. Ltd., Trane Inc., and Gree Electric Appliances Inc. The other vendors mentioned in the report are Fuerda Air-conditioning Equipment Co. Ltd., Mammoth Inc., QueZheng Cooling and Heating Equipment Co., Hangzhou Zhenxin Heating Equipment Co., Ltd., Guangdong Tongyi Electrical Appliance Co. Ltd., and Haier Group.
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