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World Heat Pump Market Study 2019July 2019

The series of research carried out by BSRIA on the Global Heat Pumps Market published in May 2019 recorded a volume of sales slightly over 3 million units. Following a record year in 2017 with sales jumping 18 percent, the global market was down by 3.3 percent in volume terms in 2018.

Aline Breslauer, Senior Market Intelligence Analyst, BSRIA, said:

“The global heat pump market suffered from the slowing economy in China in 2018. The recent US-China trade war has put more pressure on the local economic expansion, leading to rising prices on raw materials and a slower new residential construction market real-estate. The environmental measures to reduce CO2 emissions have kept supporting the heat pump market although the competition from gas boiler is on the rise in the country.


Market breakdown by end-user sector, 2018 by sales volume (click image to zoom)
“In Europe the sales of heat pumps accelerated in 2018 reaching almost 650 thousand units sold. This is a 12.9 percent increase from the previous year, which gives a sales value of 5.1 billion euros.

Air-sourced units maintained strong growth rates with splits systems increasing at the fastest pace: +19.1% by volume followed by monobloc (+18.2%). Air-sourced units designed for the production of sanitary hot water only were also on the rise in 2018, mostly driven by the demand from the French market.

The promotion of Heat pumps has been supported at a European level by the Building Regulation Directive, which has the objective of limiting the average energy consumption in most new buildings. Sales are primarily being driven by residential buildings.

Suppliers in the Netherlands recorded high growth in terms of volume (+62.8%) followed by the Republic of Ireland (+47.0%) and the UK (+19.7%). Public awareness is rising across Europe thanks notably to financial support avail to the availability of financial incentives. The recovery in the construction sector was another factor behind the latest development.”

Key information:

  • Data in the reports are supplied for 2017 and 2018 (estimates), with forecasts to 2023
  • Product coverage includes ground-source HP, air-water split HP, air-water monobloc HP, air-water HP on heat recovery, air-water cylinder integrated HP

Based on primary and secondary research, face-to-face and telephone interviews
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