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IRI July 17, 2019 0 Comments

Global heat pump sales fell by 3.3% in volume terms last year, after a record year in 2017.

The latest report from UK market intelligence company BSRIA records sales of just over 3,000,000 units in 2018.

According to Aline Breslauer, BSRIA’s senior market intelligence analyst, the market suffered last year from the slowing economy in China. “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.”

Sales in Europe were up 12.9% in 2018 to almost 650,000 units – a sales value of €5.1bn.

Air-source units maintained strong growth rates and splits systems increased at the fastest pace: +19.1% by volume followed by monobloc (+18.2%). Air-source hot water heat pumps were also on the rise, mostly driven by the demand from the French market.

Heat pump sales in Europe are being driven by the Building Regulation 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 Ireland (+47.0%) and the UK (+19.7%).

More information here.

Global heat pump sales fall 3.3%