At the beginning of 2020, we were utterly optimistic for the market development over the rest of the year. The first quarter had been positive and all signs pointed towards growth. It came different as we all know, but still, the result was good, considering the circumstances.
By the end of 2020, we count a total of 14.84 million heat pump units installed in the 21 countries covered by this report. This is a plus of 6% or 1.6 million units over 2019. The top three markets are France (394k), Italy (233k) and – for the first time in the lead – Germany (140k). These three markets combined account for 48% of all sales. The top 10, including Spain, Sweden, Finland, Norway, Denmark, Poland and the Netherlands are responsible for 87% of annual sales.
We expect other European markets to follow, which would bring the total EU market back on track for a double digit growth path in 2021. More and more countries are adressing the energy transition in the heating sector with meaningful measures.
The European Union has presented its strategy for sector integration. The document foresees 40% of all residential and 65% of all commercial buildings to be heated by electricity in 2030. As the energy efficiency first principle is still valide, this means most of these buildings will be heated and cooled by heat pump systems.
The trend towards heat pump solutions in the build environment is fuelled by new product offerings for the renovation sector. With technological progress and an even more welcoming policy framework, this development will continue and will enable the complete decarbonisation of heating and cooling.
The decade of heat pumps has only just begun.
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