The global heat pump market in 2018

The latest report published by BSRIA and the JARN issue of July 2019 focus on the global market for heat pumps.

According to BSRIA, the global heat pump market is just over 3 million units sold in 2018.

Split systems saw the strongest increase, with a 19.1% increase in volume, followed closely by monobloc systems, with an increase of 18.2%.

The figures of the Japanese journal focus more particularly on the global air-to-water heat pump market, valued at 981,200 units sold in 2018, which amounts to a 10% increase, except for China.

The year 2018 was marked by a decline of the Chinese market. According to BSRIA, this could be explained by the slowdown of the Chinese economy. Indeed, the trade conflict opposing the China and the United States leads to higher commodities prices and a reduction in the number of new residential construction projects.

JARN explains this decline by the decrease in subsidies for the Coal-to-Electricity Transition in China.

The health of the European heat pump market remains good – almost 650,000 units sold (+12.9%) – due notably to the European Energy Efficiency Directive, which aims to limit energy consumption in most new buildings.

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