World Market for Heat Pumps 2020/R2019

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Year-on-year, the sales of heat pumps increased 4.5 percent to an estimated 2.7 million units in 2019. Sales revenues jumped to €5.24 billion, up 9.0 percent from the previous year. The global picture indicates that the growth is mainly supported by the fast acceleration of the demand across Europe, even though China still accounts for the largest share of the global market.

Year-on-year, the sales of heat pumps increased 4.5 percent to an estimated 2.7 million units in 2019. Sales revenues jumped to €5.24 billion, up 9.0 percent from the previous year. The global picture indicates that the growth is mainly supported by the fast acceleration of the demand across Europe, even though China still accounts for the largest share of the global market. 

In China the market dropped 1.7 percent to 1.8 million units as the government is looking to reduce its financial support, while in Europe the regulation applying to the HVAC and Building Industry imposes stricter measures that support investment in heat pumps. The sales to the US market remained limited but grew fast (+13.8%).

Air-to-water heat pumps types clearly account for the bulk of sales in all the regions covered. 

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  • Published: April 2020