Markets and figures: heat pump market
The heat pump market is growing fast, especially in Europe and in Asia: - In Europe, a recent report from Frost & Sullivan found that the heat pump market - covering commercial, residential, public and industrial applications - earned over € 2.94 billion in 2008 and estimates this to reach € 5.19 billion in 2015. The market received a boost in December 2008 with the passing of the "20-20-20" climate package by the European Parliament: by 2020, the European Union commits itself to cut greenhouse gas emissions by at least 20% below 1990 levels, produce 20% of its energy from renewable sources and increase energy efficiency by 20%. The short-term implication of this is an increased number of incentives for the use of heat pumps in many EU countries: in Germany, heat pumps are subsidized up to 3000 €; in Denmark, air-water heat pumps are subsidized about 1135 € and water-water heat pumps are subsidized about 2000 € under certain conditions; tax incentives have also been implemented in France (see Newsletter of the IIR No. 39); R-407a and R-410A (HFCs) are usually used as refrigerants in Europe. - In China, JARN reports that the Chinese market for heat pump water heaters reached about RMB 1.3 billion in 2008 (about€ 130 million) while for 2009 the market is expected to reach RMB 1.5 billion (€ 150 million) to be compared with just RMB 360 million in 2005 (€ 36 million). Although there are no incentives for such equipment at a national level, some local governments provide financial support. In China, the leading refrigerant is HCFC-22. - In Japan, EcoCute heat pumps water heaters using CO2 as refrigerant - which benefit from a government subsidy - have enjoyed rapid market gains in the residential market: over 500 000 units were shipped in 2008 (up 21% over 2007).