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China heat pump market in 2023

Although the country still relies heavily on coal for heating, China is currently the only major market where heat pumps sales grew in 2023, when global sales declined by 3% according to the IEA. 

Since 2020, heat pump sales have increased by almost 30% worldwide, despite a 3% decline in 2023, according to a report published in March 2024 by the International Energy Agency (IEA).

 

Overview of the global heat pump market i...

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