Market data

Market data

Heat pump sales in 21 European countries fell by around 6.5% overall in 2023 compared to 2022, reversing the trend of a decade. Sales dropped to 3.02 million. 

There are now 23.96 million heat pumps installed in Europe’s buildings – a 13.7% rise on 2022’s total.

If annual sales remain at this level, around 45 million heat pumps would be installed by 2030 – about 25% short of the EU’s aims. The EU would miss out on potential investments and net zero industry growth.

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Annual heat pump sales to 2023 - EHPA
Annual heat pump sales to 2023 in 2021 European countries
Countries' heat pump sales 2023 and total stock - EHPA
Countries’ heat pump sales 2023 and total stock – EHPA

A key reason for the slow down is changing policies and support schemes. This can clearly be seen in contrasting examples like the Netherlands, where stable policies have boosted growth and Italy where a major change in the support scheme destabilised consumer confidence.

Gas prices becoming cheaper compared to electricity, where bills are often heavily taxed. Taxes and levies should be shifted away from electricity.

Comparatively, countries seeing the largest growth were Germany (161k additional heat pumps sold compared to 2022, +58.5%) Belgium (+43k, +72.2%) and the Netherlands (+50k, +43.4%).

In terms of the heat pump stock (meaning all installed heat pumps) per 1,000 households, Norway leads the way with 635, followed by Finland with 512 and Sweden with 438.

Despite last year’s lower sales, heat pumps are gaining market share on fossil fuel boilers, and this helps Europe’s energy independence and net zero industrial leadership – but this needs to speed up.

The delayed Heat Pump Action Plan is a crucial tool for stabilising the sector and tapping the benefits it offers. The new European Commission must publish it rapidly.

Heat pumps' market share of the pace heating market share over time - EHPA
Heat pumps’ market share of the space heating market over time – EHPA

Today, the European heat pump sector provides around 170,000 direct jobs and there is huge potential for growth. The heat pumps installed in Europe have avoided the emission of 58.4 Mt of CO2 over the past 20 years, 7.3 Mt last year.

EHPA publishes an in-depth look at the heat pump market in 21 European countries every year in its market report – see the contents page on the right. 

Read part of the report, or access / purchase it in full (the market report is free for EHPA members and the media).