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BSRIA have recently published the world heat pumps study based on 16 key countries around the world. The report highlights that despite the continued downturn in the world economy the Heat Pump market is increasing compared to other products. The market increased by 31% from last year and is forecast to increase by 33% in 2013. However this increase is due largely to ASIA as the biggest market is in China.
A reason for why the market is doing better in Asia in comparison to other regions is that Air source heat pumps are more used for space heating rather than hot water only in Europe. However, Heat Pumps are used for the production of sanitary hot water only are very common in China and some other Asian countries.
Government policy, availability of incentives and increasing disposable income are the main drivers in China. Growing construction industry also triggers demand. The Chinese market is dominated by air-water monobloc systems.
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