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The World Heat Pumps reports contain strategic market analysis. These BSRIA reports provide market insight data into the hydronic heat pumps market to aid identifying business trends and strategic planning.
The World Heat Pump market posted a modest decline in terms of units sold compared to 2017. Globally, the volume reached about 3 million units for a value estimated at 7.6 billion euros in 2018. The decline (-3.3%) was attributed mostly to the slower demand for HP from Chinese households. In the other regions researched by BSRIA, the market kept growing yet. The European market was up 13% by volume and the US – by 7%. Air-to-water heat pumps are the type of units that drives the market up in spite of some discrepancies observed in the regions covered: split type prevails in both China and Europe, whereas in the US HP water heater drives the bulk of sales. The sales of split HPs were down by 7% on a global level - because of the drop recorded in China - while in Europe the split market jumped 19%. Suppliers of monobloc HP observed similar double-digit growth on their market in Europe.
In most of the countries the measures implemented to reduce energy consumption in buildings have supported the upward trend either via financial subsidies or through stricter building regulation.
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