Heat pump demand is expected to rise as demand for eco-friendly and technologically advanced devices in heating and cooling applications rises. The global demand for eco-friendly devices is directly proportional to the global demand for heat pumps, as heat pumps are extremely useful in reducing CO2 emissions. It uses only 14 watts of electricity and 34 watts of environmental energy. As a result, such factors are expected to drive market growth in the near future.
Low awareness of the benefits and advantages of heat pumps in emerging economies such as Brazil, India, and South Africa is a major barrier to heat pump adoption. Furthermore, poor consumer awareness of ground source heat pumps in regions such as APEJ, Latin America, and MEA is a factor impeding global heat pump market growth. As a result, these factors are expected to stymie the market's overall growth.
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