Share4,000 jobs lost as heat pump sales drop across Europe in 2024
Sales of heat pumps fell by an average of 23% in 2024 compared to 2023, putting thousands of jobs at risk according to the European Heat Pump Association (EHPA)
According to the European Heat Pump Association (EHPA), 2 million heat pumps were sold in 2024 in 13 European countries which make up around 85% of the European market. Compared to 2.6 million units sold in 2023, this represents a 23% drop.
Consequently, the sector is reducing production after investing billions in additional capacity in 2022 and 2023 to bolster Europe’s energy security. At least 4,000 jobs have been cut and EHPA indicates that over 6,000 more jobs are at stake due to economic unemployment.
Out of the 13 countries, Belgium and Germany experienced the sharpest drops, with 52% and 48% lower sales figures year-on-year. The UK was the only exception, enjoying a 63% growth in sales figures in 2024.
According to experts, sales drop may be due to:
- Changes in governments’ support schemes for heat pumps, which have shaken consumer confidence
- An economic slowdown compounded by the challenges of a cost-of-living crisis
- The low price of subsidised gas, making it a more attractive option for consumers.
Source