All Reports
3Q 2021

Decarbonizing Heat in Buildings

Global Market Analysis and Market Forecast for Heat Pumps, VRF Systems, and Hydrogen Boilers

According to the United Nations (UN), the global buildings sector accounts for almost 40% of global energy use and 38% of energy-related CO2 emissions annually. In 2019, global CO2 emissions from buildings operations reached the highest levels ever recorded. The continued use of coal, oil, and natural gas for heating combined with regions where electricity remains carbon intensive has resulted in a steady level of direct and indirect emissions. According to the UN, nearly 55% of global electricity consumption is due to building operations.

Decarbonizing heat is thus imperative to meeting greenhouse gas (GHG) reduction goals set by countries, cities, and corporations around the globe. Multiple technologies are available to decarbonize heat. Heat pump solutions are widely available in global markets and are one of the most efficient ways of heating space. Hydrogen boilers are an emerging technology that is anticipated to play a more important role in heat decarbonization in the decades to come.

This Guidehouse Insights report explores market trends and provides a global forecast of heat decarbonization solutions. The forecast in this report is segmented by heat pumps and hydrogen boilers. VRF heat pump systems are considered in the commercial sector. The forecast is further segmented by commercial and residential buildings, as well as five global regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Forecasts extend through 2030

Pages 34
Tables | Charts | Figures 26
  • What heat decarbonization technologies are available in the market?
  • What policies support building electrification across different global regions?
  • What policies support hydrogen boiler adoption across different global regions?
  • What are the primary drivers and barriers to heat pump, VRF, and hydrogen boiler adoption?
  • What is the size of the heat decarbonization market?
  • How is the market expected to grow in the next 10 years?
  • How is revenue expected to differ by region?
  • How is revenue expected to differ by technology type?
  • How is revenue expected to differ by customer segment?
  • HVAC manufacturers
  • HVAC distributors
  • Regulators
  • State and local governments
  • Smart building vendors
  • ESCOs
  • Investor community

1. Executive Summary

1.1   Heat Decarbonization

1.2   Market Drivers and Barriers

1.3   Market Forecast

2. Market Issues

2.1   Introduction

2.2   Heat Decarbonization Technologies

2.2.1   Heat Pumps

2.2.2   Hydrogen and Hydrogen Boilers

2.2.3   Hydrogen Boilers

2.3   Market Drivers

2.3.1   Changing Economics in Renewable Energy Options

2.3.2   Decarbonization and Building Policy

2.3.2.1   Policy in North America

2.3.2.2   Policy in Europe

2.3.2.3   Policy in Asia Pacific

2.3.3   Green Hydrogen Policies

2.3.3.1   North America

2.3.3.2   Europe

2.3.3.3   Asia Pacific

2.3.4   The Role of Utilities in Decarbonization

2.3.5   Electricity Rate Design

2.3.6   Improvement to Health and Wellness

2.4   Market Barriers

2.4.1   Lack of Technology Expertise

2.4.2   Slow Stock Turnover Rate

2.4.3   Consumer Reluctance to Fuel Switching

2.4.3.1   Upfront Cost

2.4.3.2   Comfort and Performance Concerns and Status-Quo Bias

2.4.3.3   Consumer Perception of Hydrogen Safety

3. Market Forecasts

3.1   Forecast Scope and Methodology

3.2   Global Market Overview

3.3   Heat Pumps

3.4   Hydrogen Boilers

4. Conclusions and Recommendations

5. Acronym and Abbreviation List

6. Table of Contents

7. Table of Charts and Figures

8. Scope of Study, Sources and Methodology, Notes

  • AI Decarbonized Heating Equipment Revenue by Region, World Markets: 2021-2030
  • Decarbonized Heating Equipment Revenue by Segment, World Markets: 2021-2030
  • Decarbonized Heating Equipment Revenue by Technology, World Markets: 2021-2030
  • Heat Pump Revenue by Region, World Markets: 2021-2030
  • Heat Pump Revenue by Segment, World Markets: 2021-2030
  • Heat Pump Revenue by Technology, World Markets: 2021-2030
  • Hydrogen Boiler Revenue by Region, World Markets: 2021-2030
  • Hydrogen Boiler Revenue by Segment, World Markets: 2021-2030
  • Hydrogen-Powered Domestic Boiler by BDR Thermea
  • Decarbonized Heating Equipment Revenue by Region, World Markets: 2021-2030
  • Decarbonized Heating Equipment Revenue by Segment, World Markets: 2021-2030
  • Decarbonized Heating Equipment Revenue by Technology, World Markets: 2021-2030
  • Heat Pump Revenue by Segment, World Markets: 2021-2030
  • Heat Pump Revenue by Technology, World Markets: 2021-2030
  • Hydrogen Boiler Revenue by Region, World Markets: 2021-2030
  • Hydrogen Boiler Revenue by Segment, World Markets: 2021-2030
  • Decarbonized Heating Equipment Revenue by Segment, North America: 2021-2030
  • Decarbonized Heating Equipment Revenue by Technology, North America: 2021-2030
  • Decarbonized Heating Equipment Revenue by Segment, Europe: 2021-2030
  • Decarbonized Heating Equipment Revenue by Technology, Europe: 2021-2030
  • Decarbonized Heating Equipment Revenue by Segment, Asia Pacific: 2021-2030
  • Decarbonized Heating Equipment Revenue by Technology, Asia Pacific: 2021-2030
  • Decarbonized Heating Equipment Revenue by Segment, Latin America: 2021-2030
  • Decarbonized Heating Equipment Revenue by Technology, Latin America: 2021-2030
  • Decarbonized Heating Equipment Revenue by Segment, Middle East & Africa: 2021-2030
  • Decarbonized Heating Equipment Revenue by Technology, Middle East & Africa: 2021-2030
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