“The summer season was a busy period for heat pump suppliers and installers. While business tends to slow down in the summer, sales figures in July-August 2020 recorded a boom in demand, which extended into the autumn. Because of travel restrictions, an increasing number of people working from home, and incentives available to invest in renewable technologies, many households decided to renovate their homes, including their heating systems. This resulted in a steep acceleration of sales in many countries, particularly in the DACH region, Poland, and Romania, where local markets closed on strong growth.
Market expansion year-on-year was slower in the rest of Europe – Czechia, Hungary, Spain, Scandinavia, UK, etc. – due to a fall in construction activities, as well as the level of uncertainty felt by both private and public investors.
We are seeing an electrification of heat across Europe, which is in line with the EU Commission’s 2050 climate neutrality objective to cut carbon emissions and reduce dependency on fossil fuels. However, the speed of transition varies widely from one country to another.
This holds true outside of Europe too. In China, the market did not fully recover from the lockdown, and the sales of heat pumps did not reach the volume recorded in 2019. Up until now, heat pump and components manufacturers are still struggling to keep up with internal and external demand and this is likely to affect the global market in the short term.”
Key information - Data in the reports are supplied for 2019 and 2020 (estimates), with forecasts to 2025.
- Product coverage includes ground-source heat pumps, air-water split heat pumps, air-water monobloc heat pumps, air-water heat pumps on heat recovery, and air-water cylinder integrated heat pumps.
- Geographical coverage: Austria, Belgium, China, Czechia, Finland, France, Germany, Hungary, Italy, Netherlands, Norway, Poland, Romania, Slovenia, Spain, Sweden, Switzerland, Turkey, UK, USA, Australia
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