Source page: McKinsey & Company
Commentary
Hot take on heat energy
Decarbonization | Industrial machinery
April 23, 2024 – On the path to meeting decarbonization targets, heat pumps could play a role in the industrial sector, in which heating accounts for more than 20 percent of global CO2 emissions. Senior partner Harald Bauer and colleagues explain that sectors with high heat demand, such as chemicals and paper and pulp, are particularly well-suited for using heat pumps. Because of their abatement potential, heat pumps could see growth in the global market of up to 15 percent annually this decade.
To read the article, see “Industrial heat pumps: Five considerations for future growth,” March 19, 2024.
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Visual form
Comparison infographic.
Layout / body structure
The page uses a side-by-side two-period comparison, with a small stacked market block for 2023 on the left and a much larger projected block for 2030 on the right. The reading order is left to right, using the large growth-rate callout between the two blocks.
What is being compared
It compares the global industrial heat pump market in 2023 with its projected regional composition in 2030.
Measurement system
The values are billions of dollars, and the center callout states growth of more than 15 percent per year. The stacked blocks separate regions such as Greater China, Europe, North America, Africa-CIS-and-Middle East, Latin America, and Other Asia.
Visible structure inside the graphic
A compact 2023 stacked block sits on the left with several small regional slices, while the 2030 block on the right expands dramatically and is subdivided into much larger regional rectangles. The greater size of the 2030 block carries most of the message before the reader even gets to the labels.
Main takeaway from the visual
The chart shows that the heat-pump market is expected to expand sharply by 2030, with Greater China taking the largest share of the future market and Europe and Other Asia also contributing substantial blocks.
Key standout values or extremes
The chart highlights growth of more than 15 percent per annum through 2030. In the 2030 block, Greater China is labeled at $5.0 billion to $8.0 billion, Europe at $2.0 billion to $4.0 billion, and Other Asia at $2.0 billion to $4.0 billion, far above the much smaller 2023 total.
Controls / sequence, when applicable
This is a static chart image with no in-chart controls to operate.
Companion media, when applicable
There is no separate companion audio or video; the chart image is the full visual on this page.