Heat pump sales surge globally, driven by policy support, efforts to cut emissions
(MENAFN) Heat pump sales globally rose by 11 percent last year, with a record increase of 40 percent in Europe, according to data released by the International Energy Agency (IEA) on Friday. The rise in sales was driven by increased policy support and incentives to cut greenhouse gas emissions, as well as high natural gas prices. The technology of heat pumps is central to decarbonizing the heating of buildings and their sales marked a second consecutive year of double-digit growth, as shown by the IEA's analysis.
In Europe, sales of air-to-water models, which are compatible with typical radiators and underfloor heating systems, grew by 50 percent. France also saw heat pump sales overtake those for gas furnaces for the first time. The region has been hit hard by the ongoing global energy crisis, which has been exacerbated by Russia's lower gas flows to the region. Due to the disruptions in supply, natural gas prices in Europe reached all-time high levels, leading the region to reduce its gas demand and use new alternative sources and technologies like heat pumps.
While heat pump sales remained flat amid a general slowdown of the economy in China, which is the world's largest heat pump market, in the US, heat pump purchases exceeded those of gas furnaces. China is the biggest producer and exporter of the technology, manufacturing 40 percent of the heat pumps worldwide, with most of its exports going to Europe. According to the analysis, in Australia and New Zealand, air-to-air heat pumps are already the most common source of heating.
Over 100 million households, or one in 10 homes that require substantial heating, are served by heat pumps today, with double-digit growth boosted by financial incentives in over 30 countries. However, heat pumps need to cover 20 percent of global heating needs in buildings by 2030, double today's level, to align with existing national energy and climate pledges. The IEA forecasts that the world is almost on track to reach this milestone if new installations continue to increase at a similar rate as they did in the last two years. Nonetheless, heat pump sales need to grow by well over 15 percent annually this decade if the world is to achieve net-zero emissions by 2050.
The IEA said that expanding secure and resilient supply chains is necessary for continued growth in heat pump deployment. The surge in heat pump sales is a positive sign for the effort to decarbonize heating in buildings, and increased policy support and incentives are likely to continue driving growth in this sector in the coming years.
In Europe, sales of air-to-water models, which are compatible with typical radiators and underfloor heating systems, grew by 50 percent. France also saw heat pump sales overtake those for gas furnaces for the first time. The region has been hit hard by the ongoing global energy crisis, which has been exacerbated by Russia's lower gas flows to the region. Due to the disruptions in supply, natural gas prices in Europe reached all-time high levels, leading the region to reduce its gas demand and use new alternative sources and technologies like heat pumps.
While heat pump sales remained flat amid a general slowdown of the economy in China, which is the world's largest heat pump market, in the US, heat pump purchases exceeded those of gas furnaces. China is the biggest producer and exporter of the technology, manufacturing 40 percent of the heat pumps worldwide, with most of its exports going to Europe. According to the analysis, in Australia and New Zealand, air-to-air heat pumps are already the most common source of heating.
Over 100 million households, or one in 10 homes that require substantial heating, are served by heat pumps today, with double-digit growth boosted by financial incentives in over 30 countries. However, heat pumps need to cover 20 percent of global heating needs in buildings by 2030, double today's level, to align with existing national energy and climate pledges. The IEA forecasts that the world is almost on track to reach this milestone if new installations continue to increase at a similar rate as they did in the last two years. Nonetheless, heat pump sales need to grow by well over 15 percent annually this decade if the world is to achieve net-zero emissions by 2050.
The IEA said that expanding secure and resilient supply chains is necessary for continued growth in heat pump deployment. The surge in heat pump sales is a positive sign for the effort to decarbonize heating in buildings, and increased policy support and incentives are likely to continue driving growth in this sector in the coming years.
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