The European Heat Pump Outlook 2021: 2 million heat pumps within reach
In light of the publication of the final parts of the fit-for-55 package by the European Commission, we are happy to announce that 2021 was a decisive year for the energy transition and the heat pump sector.
The 2020 market was affected by the pandemic and saw only a modest 7% growth compared to 2019. In 2021, heat pump markets made a crucial recovery, growing across Europe at an unprecedented speed. Aggregated industry expert opinion hints at a market increase of more than 25% and a total sales volume exceeding 2 million units by the end of the year.
In a total heater market of 7 million units, heat pumps are representing more than 25% of annual sales. This is a great foundation for the necessary continued growth on the way to reaching the EUs energy and climate targets. Based on the Commission’s 2019 system integration strategy, more than 50 million heat pumps are needed by 2030. Sales in 2021 not only show that markets are on the right track, but also that the industry is delivering. Heat pumps are fast becoming the standard solution for new buildings. Technology development in combination with smart renovation makes the direct replacement of heaters a feasible option also in the existing buildings. It cannot be repeated often enough: ‘heat pumps work in renovation’.