Heat Pump Market in Europe and Asia

Heat Pump Market in Europe

European governments and energy companies are encouraging the use of heat pumps to promote the energy transition and reduce carbon emissions.

According to data released by the European Heat Pump Association (EHPA), more than 14 million heat pump heaters were installed in Europe by the end of 2021, with air-source heat pumps being the most common. The number of installations of heat pumps is growing in Europe and is expected to continue to grow in the coming years.

In Europe, the countries with the highest market share of heat pump heaters are Sweden, Norway, Finland and Switzerland, where the installed proportion of heat pump heaters has exceeded 20%. In addition, Germany, Austria, France, the Netherlands, the United Kingdom and other countries are also gradually promoting heat pump heating machine.

The main reasons for the growing market share of heat pump heaters include government support policies, rising energy costs, increasing environmental awareness and technological advances. Especially in Europe, because of the high energy cost and the low use cost of heat pump heaters, more and more families and enterprises begin to pay attention to the advantages of heat pump heaters, and are willing to choose this more environment-friendly, energy-saving and economical heating method.

Heat Pump Market in Asia

Heat Pump Market in Asia is gradually developing. In Asia, heat pump heaters are mainly used in commercial buildings and some high-end residential buildings, but there is a wide gap in popularity compared with Europe.

China is one of the key drivers of the heat pump market in Asia. According to the data released by the China Heat Pump Industry Association, by the end of 2021, the number of enterprises in China’s heat pump industry has exceeded 12,000, the annual production capacity exceeds 8 million units, and the market scale has reached about 300 billion yuan. In recent years, the Chinese government has also issued a series of policies to support the development of the heat pump industry to promote the rapid development of the heat pump market.

Japan, South Korea, Taiwan and other regions of the heat pump market is also gradually growing. Governments and enterprises in these countries are also actively promoting the application of heat pumps, promoting the development of the heat pump market by encouraging the use of heat pumps and providing subsidies. There are some challenges and opportunities in the heat pump market in Asia compared to Europe.

On the one hand, the climate and energy situation in Asia is different from that in Europe, there is a need to develop heat pump products that are suitable for the local climate and environment. On the other hand, with the improvement of environmental protection consciousness and the rise of energy cost, heat pump as a kind of environmental protection and energy saving heating method in the Asian market has a broad application prospect, and there is still much room for future development of heat pump market.