- REPORT SUMMARY
- TABLE OF CONTENTS
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The Global Heat Pumps market was valued at XX.0 million US$ in 2018, with the CAGR of 4.8%, this market is estimated to reach USD XX.0 million US$ in 2026.
This report mainly elaborates on the segmentation, end-user, size, share, trend, future demand and leading players with respect to the Global and Europe Heat Pumps market. Describe product range of Heat Pumps, market overview, market opportunities, market drivers, limitations, PEST and SWOT analysis. Introducing market share, production, consumption, revenue, and growth of Global major regions from 2014-2019 and forecast to 2026.
The report also provides a detailed analysis of the Europe Heat Pumps market from 2014 to 2026 based on the product type and end-user. It provides a detailed overview of the market of the top 16 countries of Europe along with top companies' data analysis and product introductions of Europe Heat Pumps market.
By Player
Geothermal International Ltd. (GI)
Glen Dimplex Corporation
The BDR Thermea Group Group
Enertech Group
DeLonghi-Climaveneta
NIBE energy systems
Danfoss Group Global
Bosch Thermotechnik GmbH
Mitsubishi Electric
Panasonic Corporation
StiebelEltron
Airwell Group
Vaillant Group
By Type
Air to water
Ground/water to water
Exhaust air
By End-User
Household
Commercial
Agricultural
Industrial
By Region
North America
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United States
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Canada
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Mexico
Europe
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Germany
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UK
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France
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Italy
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Spain
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Belgium
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Poland
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Russia
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Turkey
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Netherlands
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Portugal
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Denmark
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Finland
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Iceland
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Norway
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Sweden
Asia-Pacific
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China
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Japan
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India
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South Korea
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Australia and New Zealand
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ASEAN Countries (Indonesia, Thailand, Malaysia, Singapore, Philippines, Vietnam, Others)
Latin America, Middle East & Africa
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GCC Countries (Saudi Arabia, United Arab Emirates, Qatar, Others)
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Brazil
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Nigeria
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South Africa
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Argentina
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Others
Table of Contents
1 Report Overview
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1.1 Product Definition and Scope
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1.2 PEST (Political, Economic, Social and Technological) Analysis of Heat Pumps Market
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1.3 Market Segment by Type
1.3.1 Global Heat Pumps Market Size and Growth Rate of Air to water from 2014 to 2026
1.3.2 Global Heat Pumps Market Size and Growth Rate of Ground/water to water from 2014 to 2026
1.3.3 Global Heat Pumps Market Size and Growth Rate of Exhaust air from 2014 to 2026
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1.4 Market Segment by Application
1.4.1 Global Heat Pumps Market Size and Growth Rate of Household from 2014 to 2026
1.4.2 Global Heat Pumps Market Size and Growth Rate of Commercial from 2014 to 2026
1.4.3 Global Heat Pumps Market Size and Growth Rate of Agricultural from 2014 to 2026
1.4.4 Global Heat Pumps Market Size and Growth Rate of Industrial from 2014 to 2026
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1.5 Market Segment by Regions
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1.5.1 North America Heat Pumps Consumption Market Size and Growth Rate from 2014 to 2026
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1.5.2 Europe Heat Pumps Consumption Market Size and Growth Rate from 2014 to 2026
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1.5.3 Asia-Pacific Heat Pumps Consumption Market Size and Growth Rate from 2014 to 2026
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1.5.4 LAMEA Heat Pumps Consumption Market Size and Growth Rate from 2014 to 2026
2 Market Trends and Competitive Landscape
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2.1 Market Trends and Dynamics
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2.1.1 Market Challenges and Restraints
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2.1.2 Market Opportunities and Potentials
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2.1.3 Mergers and Acquisitions
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2.2 Competitive Landscape Analysis
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2.2.1 Industrial Concentration Analysis
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2.2.2 Porter's Five Forces Analysis of the Industry
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2.2.3 SWOT Analysis for New Entrants
3 Segmentation of Heat Pumps Market by Types
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3.1 Products Development Trends of Different Types
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3.2 Commercial Products Types of Major Vendors
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3.3 Competitive Landscape Analysis of Different Types
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3.4 Market Size of Heat Pumps by Major Types
3.4.1 Market Size and Growth Rate of Air to water
3.4.2 Market Size and Growth Rate of Ground/water to water
3.4.3 Market Size and Growth Rate of Exhaust air
4 Segmentation of Heat Pumps Market by End-Users
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4.1 Downstream Client Analysis by End-Users
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4.2 Competitive Landscape Analysis of Different End-Users
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4.3 Market Potential Analysis of Different End-Users
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4.4 Market Size of Heat Pumps by Major End-Users
4.4.1 Market Size and Growth Rate of Heat Pumps for Household
4.4.2 Market Size and Growth Rate of Heat Pumps for Commercial
4.4.3 Market Size and Growth Rate of Heat Pumps for Agricultural
4.4.4 Market Size and Growth Rate of Heat Pumps for Industrial
5 Market Analysis by Major Regions
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5.1 Global Heat Pumps Production Analysis by Top Regions
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5.2 Global Heat Pumps Consumption Analysis by Top Regions
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5.3 Global Heat Pumps Production, Import, Consumption and Export Analysis by Regions
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5.3.1 North America Heat Pumps Production, Import, Consumption and Export Analysis
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5.3.2 Europe Heat Pumps Production, Import, Consumption and Export Analysis
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5.3.3 Asia Pacific Heat Pumps Production, Import, Consumption and Export Analysis
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5.3.4 LAMEA Heat Pumps Production, Import, Consumption and Export Analysis
6 Product Circulation of Heat Pumps Market among Top Countries
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6.1 Top 5 Export Countries in Heat Pumps Market from 2014 to 2019
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6.1.1 Top 5 Export Countries’ Export Value Analysis in Heat Pumps Market from 2014 to 2019
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6.1.2 Top 5 Export Countries’ Export Volume Analysis in Heat Pumps Market from 2014 to 2019
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6.2 Top 5 Import Countries in Heat Pumps Market from 2014 to 2019
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6.2.1 Top 5 Import Countries’ Import Value Analysis in Heat Pumps Market from 2014 to 2019
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6.2.2 Top 5 Import Countries’ Import Volume Analysis in Heat Pumps Market from 2014 to 2019
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6.3 Emerging Top 3 Export Countries Analysis
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6.4 Emerging Top 3 Import Countries Analysis
7. North America Heat Pumps Landscape Analysis
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7.1 North America Heat Pumps Landscape Analysis by Top Countries
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7.1.1 United States Heat Pumps Market Volume and Growth Rate
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7.1.2 Canada Heat Pumps Market Volume and Growth Rate
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7.1.3 Mexico Heat Pumps Market Volume and Growth Rate
8. Europe Heat Pumps Landscape Analysis
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8.1 Europe Heat Pumps Landscape Analysis by Major Types
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8.2 Europe Heat Pumps Landscape Analysis by Major End-Users
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8.3 Europe Heat Pumps Landscape Analysis by Top Countries
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8.3.1 Germany Heat Pumps Market Volume and Growth Rate
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8.3.2 UK Heat Pumps Market Volume and Growth Rate
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8.3.3 France Heat Pumps Market Volume and Growth Rate
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8.3.4 Italy Heat Pumps Market Volume and Growth Rate
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8.3.5 Spain Heat Pumps Market Volume and Growth Rate
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8.3.6 Belgium Heat Pumps Market Volume and Growth Rate
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8.3.7 Poland Heat Pumps Market Volume and Growth Rate
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8.3.8 Russia Heat Pumps Market Volume and Growth Rate
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8.3.9 Turkey Heat Pumps Market Volume and Growth Rate
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8.3.10 Netherlands Heat Pumps Market Volume and Growth Rate
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8.3.11 Portugal Heat Pumps Market Volume and Growth Rate
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8.3.12 Denmark Heat Pumps Market Volume and Growth Rate
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8.3.13 Finland Heat Pumps Market Volume and Growth Rate
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8.3.14 Iceland Heat Pumps Market Volume and Growth Rate
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8.3.15 Norway Heat Pumps Market Volume and Growth Rate
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8.3.16 Sweden Heat Pumps Market Volume and Growth Rate
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8.4 Top 3 Players Profiles in Europe
9 Asia Pacific Heat Pumps Landscape Analysis
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9.1 Asia Pacific Heat Pumps Landscape Analysis by Top Countries
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9.1.1 China Heat Pumps Market Volume and Growth Rate
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9.1.2 Japan Heat Pumps Market Volume and Growth Rate
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9.1.3 Australia and New Zealand (ANZ) Heat Pumps Market Volume and Growth Rate
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9.1.4 India Heat Pumps Market Volume and Growth Rate
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9.1.5 ASEAN Heat Pumps Market Volume and Growth Rate
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9.1.6 South Korea Heat Pumps Market Volume and Growth Rate
10 LAMEA Heat Pumps Landscape Analysis
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10.1 LAMEA Heat Pumps Landscape Analysis by Top Countries
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10.1.1 GCC Countries Heat Pumps Market Volume and Growth Rate
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10.1.2 Brazil Heat Pumps Market Volume and Growth Rate
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10.1.3 North Africa Heat Pumps Market Volume and Growth Rate
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10.1.4 South Africa Heat Pumps Market Volume and Growth Rate
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10.1.5 Argentina Heat Pumps Market Volume and Growth Rate
11 Major Players Profiles
11.1 Geothermal International Ltd. (GI)
11.1.1 Geothermal International Ltd. (GI) Company Profile and Development Status
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Glen Dimplex Corporation
11.2.1 Glen Dimplex Corporation Company Profile and Development Status
11.2.2 Market Performance
11.2.3 Product and Service Introduction
11.3 The BDR Thermea Group Group
11.3.1 The BDR Thermea Group Group Company Profile and Development Status
11.3.2 Market Performance
11.3.3 Product and Service Introduction
11.4 Enertech Group
11.4.1 Enertech Group Company Profile and Development Status
11.4.2 Market Performance
11.4.3 Product and Service Introduction
11.5 DeLonghi-Climaveneta
11.5.1 DeLonghi-Climaveneta Company Profile and Development Status
11.5.2 Market Performance
11.5.3 Product and Service Introduction
11.6 NIBE energy systems
11.6.1 NIBE energy systems Company Profile and Development Status
11.6.2 Market Performance
11.6.3 Product and Service Introduction
11.7 Danfoss Group Global
11.7.1 Danfoss Group Global Company Profile and Development Status
11.7.2 Market Performance
11.7.3 Product and Service Introduction
11.8 Bosch Thermotechnik GmbH
11.8.1 Bosch Thermotechnik GmbH Company Profile and Development Status
11.8.2 Market Performance
11.8.3 Product and Service Introduction
11.9 Mitsubishi Electric
11.9.1 Mitsubishi Electric Company Profile and Development Status
11.9.2 Market Performance
11.9.3 Product and Service Introduction
11.10 Panasonic Corporation
11.10.1 Panasonic Corporation Company Profile and Development Status
11.10.2 Market Performance
11.10.3 Product and Service Introduction
11.11 StiebelEltron
11.11.1 StiebelEltron Company Profile and Development Status
11.11.2 Market Performance
11.11.3 Product and Service Introduction
11.12 Airwell Group
11.12.1 Airwell Group Company Profile and Development Status
11.12.2 Market Performance
11.12.3 Product and Service Introduction
11.13 Vaillant Group
11.13.1 Vaillant Group Company Profile and Development Status
11.13.2 Market Performance
11.13.3 Product and Service Introduction
The List of Tables and Figures (Totals 113 Figures and 144 Tables)
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Figure Product Picture
Figure Global Heat Pumps Market Size and Growth Rate of Air to water from 2014 to 2026
Figure Global Heat Pumps Market Size and Growth Rate of Ground/water to water from 2014 to 2026
Figure Global Heat Pumps Market Size and Growth Rate of Exhaust air from 2014 to 2026
Figure Global Heat Pumps Market Size and Growth Rate of Household from 2014 to 2026
Figure Global Heat Pumps Market Size and Growth Rate of Commercial from 2014 to 2026
Figure Global Heat Pumps Market Size and Growth Rate of Agricultural from 2014 to 2026
Figure Global Heat Pumps Market Size and Growth Rate of Industrial from 2014 to 2026
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Figure North America Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure United States Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Canada Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Mexico Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Europe Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Germany Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure UK Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure France Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Italy Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Nordic Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Spain Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Belgium Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Poland Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Russia Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Turkey Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Asia-Pacific Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure China Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Japan Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Australia Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure India Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure ASEAN Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure South Korea Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure LAMEA Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure GCC Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Brazil Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure North Africa Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure South Africa Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Argentina Heat Pumps Market Size and Growth Rate from 2014 to 2026
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Figure Development Trends and Industry Dynamics of Heat Pumps Industry
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Figure Market Challenges and Restraints
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Figure Market Opportunities and Potentials
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Table Mergers and Acquisition
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Figure Porter's Five Forces Analysis
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Figure New Entrant SWOT Analysis
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Table Specifications of Different Types of Heat Pumps
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Figure Development Trends of Different Types
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Table Commercial Products Types of Major Vendors
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Figure Competitive Landscape Analysis of Different Types
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Table Consumption of Heat Pumps by Different Types from 2014 to 2026
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Table Consumption Share of Heat Pumps by Different Types from 2014 to 2026
Figure Market Size and Growth Rate of Air to water
Figure Market Size and Growth Rate of Ground/water to water
Figure Market Size and Growth Rate of Exhaust air
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Table Downstream Client Analysis by End-Users
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Figure Competitive Landscape Analysis of Different End-Users
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Table Market Potential Analysis of Different End-Users
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Table Consumption of Heat Pumps by Different End-Users from 2014 to 2026
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Table Consumption Share of Heat Pumps by Different End-Users from 2014 to 2026
Figure Market Size and Growth Rate of Household
Figure Market Size and Growth Rate of Commercial
Figure Market Size and Growth Rate of Agricultural
Figure Market Size and Growth Rate of Industrial
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Table Global Heat Pumps Production by Major Regions
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Table Global Heat Pumps Production Share by Major Regions
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Table Global Heat Pumps Consumption by Major Regions
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Table Global Heat Pumps Consumption Share by Major Regions
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Table North America Heat Pumps Production, Import, Consumption and Export Analysis
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Table Europe Heat Pumps Production, Import, Consumption and Export Analysis
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Table Asia Pacific Heat Pumps Production, Import, Consumption and Export Analysis
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Table LAMEA Heat Pumps Production, Import, Consumption and Export Analysis
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Table Top 5 Export Countries' Export Value Analysis in Heat Pumps Market from 2014 to 2019
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Table Top 5 Export Countries' Export Volume Analysis in Heat Pumps Market from 2014 to 2019
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Table Top 5 Import Countries' Import Value Analysis in Heat Pumps Market from 2014 to 2019
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Table Top 5 Import Countries' Import Volume Analysis in Heat Pumps Market from 2014 to 2019
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Figure Emerging Top 3 Export Countries Analysis
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Figure Emerging Top 3 Import Countries Analysis
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Table North America Heat Pumps Consumption by Major Countries from 2014 to 2026
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Table North America Heat Pumps Consumption Share by Major Countries from 2014 to 2026
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Figure North America Heat Pumps Consumption Share by Major Countries in 2014
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Figure North America Heat Pumps Consumption Share by Major Countries in 2018
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Figure North America Heat Pumps Consumption Share by Major Countries in 2026
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Figure United States Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Canada Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Mexico Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Table Europe Heat Pumps Consumption by Types from 2014 to 2026
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Table Europe Heat Pumps Consumption Share by Types from 2014 to 2026
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Table Europe Heat Pumps Consumption by End-Users from 2014 to 2026
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Table Europe Heat Pumps Consumption Share by End-Users from 2014 to 2026
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Table Europe Heat Pumps Consumption by Major Countries from 2014 to 2026
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Table Europe Heat Pumps Consumption Share by Major Countries from 2014 to 2026
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Figure Germany Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure UK Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure France Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Italy Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Nordic Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Spain Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Belgium Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Poland Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Russia Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Turkey Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Netherlands Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Portugal Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Denmark Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Finland Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Iceland Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Norway Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Sweden Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Table Asia Pacific Heat Pumps Consumption by Major Countries from 2014 to 2026
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Table Asia Pacific Heat Pumps Consumption Share by Major Countries from 2014 to 2026
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Figure China Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Japan Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Australia Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure India Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure ASEAN Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure South Korea Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Table Latin America, Middle East & Africa Heat Pumps Consumption by Major Countries from 2014 to 2026
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Table Latin America, Middle East & Africa Heat Pumps Consumption Share by Major Countries from 2014 to 2026
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Figure GCC Countries Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Brazil Countries Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure North Africa Countries Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure South Africa Countries Heat Pumps Market Volume and Growth Rate from 2014 to 2026
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Figure Argentina Countries Heat Pumps Market Volume and Growth Rate from 2014 to 2026
Table Company Profile and Development Status of Geothermal International Ltd. (GI)
Table Sales, Revenue, Sales Price and Gross Margin Analysis of Geothermal International Ltd. (GI)
Figure Sales and Growth Rate Analysis of Geothermal International Ltd. (GI)
Figure Revenue and Market Share Analysis of Geothermal International Ltd. (GI)
Table Product and Service Introduction of Geothermal International Ltd. (GI)
Table Company Profile and Development Status of Glen Dimplex Corporation
Table Sales, Revenue, Sales Price and Gross Margin Analysis of Glen Dimplex Corporation
Figure Sales and Growth Rate Analysis of Glen Dimplex Corporation
Figure Revenue and Market Share Analysis of Glen Dimplex Corporation
Table Product and Service Introduction of Glen Dimplex Corporation
Table Company Profile and Development Status of The BDR Thermea Group Group
Table Sales, Revenue, Sales Price and Gross Margin Analysis of The BDR Thermea Group Group
Figure Sales and Growth Rate Analysis of The BDR Thermea Group Group
Figure Revenue and Market Share Analysis of The BDR Thermea Group Group
Table Product and Service Introduction of The BDR Thermea Group Group
Table Company Profile and Development Status of Enertech Group
Table Sales, Revenue, Sales Price and Gross Margin Analysis of Enertech Group
Figure Sales and Growth Rate Analysis of Enertech Group
Figure Revenue and Market Share Analysis of Enertech Group
Table Product and Service Introduction of Enertech Group
Table Company Profile and Development Status of DeLonghi-Climaveneta
Table Sales, Revenue, Sales Price and Gross Margin Analysis of DeLonghi-Climaveneta
Figure Sales and Growth Rate Analysis of DeLonghi-Climaveneta
Figure Revenue and Market Share Analysis of DeLonghi-Climaveneta
Table Product and Service Introduction of DeLonghi-Climaveneta
Table Company Profile and Development Status of NIBE energy systems
Table Sales, Revenue, Sales Price and Gross Margin Analysis of NIBE energy systems
Figure Sales and Growth Rate Analysis of NIBE energy systems
Figure Revenue and Market Share Analysis of NIBE energy systems
Table Product and Service Introduction of NIBE energy systems
Table Company Profile and Development Status of Danfoss Group Global
Table Sales, Revenue, Sales Price and Gross Margin Analysis of Danfoss Group Global
Figure Sales and Growth Rate Analysis of Danfoss Group Global
Figure Revenue and Market Share Analysis of Danfoss Group Global
Table Product and Service Introduction of Danfoss Group Global
Table Company Profile and Development Status of Bosch Thermotechnik GmbH
Table Sales, Revenue, Sales Price and Gross Margin Analysis of Bosch Thermotechnik GmbH
Figure Sales and Growth Rate Analysis of Bosch Thermotechnik GmbH
Figure Revenue and Market Share Analysis of Bosch Thermotechnik GmbH
Table Product and Service Introduction of Bosch Thermotechnik GmbH
Table Company Profile and Development Status of Mitsubishi Electric
Table Sales, Revenue, Sales Price and Gross Margin Analysis of Mitsubishi Electric
Figure Sales and Growth Rate Analysis of Mitsubishi Electric
Figure Revenue and Market Share Analysis of Mitsubishi Electric
Table Product and Service Introduction of Mitsubishi Electric
Table Company Profile and Development Status of Panasonic Corporation
Table Sales, Revenue, Sales Price and Gross Margin Analysis of Panasonic Corporation
Figure Sales and Growth Rate Analysis of Panasonic Corporation
Figure Revenue and Market Share Analysis of Panasonic Corporation
Table Product and Service Introduction of Panasonic Corporation
Table Company Profile and Development Status of StiebelEltron
Table Sales, Revenue, Sales Price and Gross Margin Analysis of StiebelEltron
Figure Sales and Growth Rate Analysis of StiebelEltron
Figure Revenue and Market Share Analysis of StiebelEltron
Table Product and Service Introduction of StiebelEltron
Table Company Profile and Development Status of Airwell Group
Table Sales, Revenue, Sales Price and Gross Margin Analysis of Airwell Group
Figure Sales and Growth Rate Analysis of Airwell Group
Figure Revenue and Market Share Analysis of Airwell Group
Table Product and Service Introduction of Airwell Group
Table Company Profile and Development Status of Vaillant Group
Table Sales, Revenue, Sales Price and Gross Margin Analysis of Vaillant Group
Figure Sales and Growth Rate Analysis of Vaillant Group
Figure Revenue and Market Share Analysis of Vaillant Group
Table Product and Service Introduction of Vaillant Group
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