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World Heat Pump Market Study 2019July 2019

The Global Heat Pumps Market recorded sales in units of slightly over 3 million units which was a slight decline from 2017. Following a record year in 2017 with sales jumping 18 percent, in 2018 the global market was down by 3.3 percent in volume terms, according to the latest BSRIA Global Heat Pump market study.

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. The environmental measures to reduce CO2 emissions have kept supporting the heat pump market although the competition from gas boiler is increasing in the country.


Market breakdown by end-user sector, 2018 by sales volume (click image to zoom)
“In Europe, sales of heat pumps accelerated in 2018 reaching almost 650,000 units. This is a 12.9 percent increase from the previous year, which is gives a sales value of 5.1 billion euros.

Air-source 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 to produce sanitary hot water only were on the rise in 2018 too mostly driven by the demand from the French market.

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

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 available. 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
  • Products 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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