The Global Heat Pumps Market recorded sales in units of just over three million, which was a decline from 2017.
Following an 18 per cent increase in sales in 2017, 2018 found the global market was down by 3.3 per cent in volume terms, according to the latest BSRIA Global Heat Pump study.
Aline Breslauer, senior market intelligence analyst, BSRIA, said: “The global heat pump market suffered from the slowing economy in China in 2018. The recent US-China trade war has put more pressure on the local economic expansion, leading to rising prices on raw materials and a slower new residential construction market. The environmental measures to reduce CO2 emissions have kept supporting the heat pump market although the competition from gas boiler is increasing in the country.”
In Europe, sales of heat pumps accelerated in 2018 reaching almost 650,000 units. This is a 12.9 per cent increase from the previous year, which is a sales value of €5.1 billion.
Air-source units maintained strong growth rates with splits systems increasing at the fastest pace: +19.1 per cent by volume followed by monobloc (+18.2 per cent).
Air-sourced units designed to produce sanitary hot water only were on the rise in 2018 too mostly driven by the demand from the French market.
The promotion of Heat pumps has been supported at a European level by the Building Regulation Directive, which has the objective of limiting the average energy consumption in most new buildings. Sales are primarily being driven by residential buildings applications.
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