The European Heat Pump Market Keep Growing

The European Heat Pump Association (EHPA) reported that the sales volume of heat pumps reached a new high - according to the previous 2022 heat pump sales data from 16 European markets, the sales volume reached 3 million, an increase of 38% compared to 2021 and 34% compared to 2020.

According to the sales data in the report, the total sales volume of heat pumps in the European market is approximately 20 million so far. According to the Association, these heat pumps provide thermal energy to about 16% of residential and commercial buildings in Europe, reducing a total of 54 metric tons of carbon dioxide emissions. The EHPA report points out that despite some challenges, including stakeholders in the value chain, the capacity and supply of the heat exchanger, fan, compressor, and semiconductor industries have reached their limits, the heat pump market has achieved significant growth. In terms of end users, there is a need to improve information asymmetry, early stage and operational costs, and ensure increasing demand in the future.

The REPowerEu plan also mentions that due to increasingly bad weather and the need to reduce the use of fossil fuels, the heating industry must decarbonize, leading to a significant increase in heat pump sales and will continue. However, from large to small towns across the EU, all face the same challenges. In addition to the challenges mentioned above, the demand for skilled and other workers has also increased, and there are requirements for training and retraining. In the middle of late January, the EHPA reported that the European heat pump industry provided a large number of employment opportunities, but lacked a sufficient number of trained workers. The EHPA predicts that by 2030, Europe will need at least 500000 full-time skilled workers to meet the REPowerEU energy plan. 

In 2022, the sales of heat pumps increased significantly compared to 2021. In Poland, the sales of heat pumps in 2022 increased by 100% compared to 2021, followed by the Czech Republic (+99%) and the Netherlands (+80%). Last year, Finland had the highest sales volume of heat pumps per household, with Norway and Sweden ranking second and third. Overall, thanks to the joint efforts of the entire European heat pump industry, the heat pump market sales have increased significantly, carbon emissions have continued to decrease, and the energy safety performance of end users has been improved, with lower costs.

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