ShareBSRIA study on global heat pump market
A series of reports show the latest trends in the heat pump market.
The Building Services Research and Information Association (BSRIA) recently published a series of reports on the latest trends in the heat pump market. The results show that the 2016 global air-to-water (ATW) heat pump market was valued at USD 4,117 million, an increase of 24% compared to the previous year.
These good results are mostly due to the Chinese market. Sales accelerated by 45% year-on-year in China, thanks to measures implemented by the government to reduce air pollution. Heat pump sales averaged 2.5 million units in 2016 in China. BSRIA predicts an expansion of this market in the coming years.
In Europe, the market is more fragile: the sales of ATW heat pumps went up 6.3% with 405,000 units sold, after a growth of 13% the year before. Suppliers attributed that slowdown to the general elections that took place in a number of countries in 2016. Low oil price was another factor that shifted the attention of the public away from heat pumps.
Nevertheless, the progression of sales in the new residential sector in Europe shows that heat pumps are becoming popular. About a quarter of a million new homes were to be fitted with a heat pump in 2016.
In the US, the popularity of water-based heat pumps remained limited in comparison to forced-air heating systems. 60,000 units were sold in 2016. 92% were cylinder-integrated heat pumps for domestic hot water only.
The partnership established between the IIR and BSRIA allows IIR members to benefit from a 15% discount on the purchase of BSRIA studies thanks to a voucher code. Please contact us to get the code.
These good results are mostly due to the Chinese market. Sales accelerated by 45% year-on-year in China, thanks to measures implemented by the government to reduce air pollution. Heat pump sales averaged 2.5 million units in 2016 in China. BSRIA predicts an expansion of this market in the coming years.
In Europe, the market is more fragile: the sales of ATW heat pumps went up 6.3% with 405,000 units sold, after a growth of 13% the year before. Suppliers attributed that slowdown to the general elections that took place in a number of countries in 2016. Low oil price was another factor that shifted the attention of the public away from heat pumps.
Nevertheless, the progression of sales in the new residential sector in Europe shows that heat pumps are becoming popular. About a quarter of a million new homes were to be fitted with a heat pump in 2016.
In the US, the popularity of water-based heat pumps remained limited in comparison to forced-air heating systems. 60,000 units were sold in 2016. 92% were cylinder-integrated heat pumps for domestic hot water only.
The partnership established between the IIR and BSRIA allows IIR members to benefit from a 15% discount on the purchase of BSRIA studies thanks to a voucher code. Please contact us to get the code.