Best selling air to water heat pumps in the European

As an efficient and environmentally friendly heating equipment, the sales of  air to water heat pumps in the European market have shown significant growth. According to data from the European Heat Pump Association (ehpa), a total of 2.18 million heat pumps were sold in 21 European countries in 2021, an increase of nearly 560,000 units from 2020, with a growth rate of 34%, setting a new export high in the past 10 years, of which France, Germany, and Italy account for nearly 50% of annual sales. In addition, the total number of heat pumps installed in the EU reached 16.98 million units, accounting for approximately 14% of the heating market.

In terms of sales amount, according to Fact.MR's latest research report, European  air to water heat pumps sales will be approximately US$16.21 billion in 2024, and are expected to grow to US$34.68 billion at a compound annual growth rate of 7.9% by 2034.

Different types of  air to water heat pumps also have their own performances in the European market. Among them, the sales volume of air-to-air heat pumps is expected to increase by more than 4 million units from 2021 to 2030, and the sales volume will be close to 4.9 million units in 2030. The sales volume of  air to water heat pumps in Europe in 2020 is about 655,000 units , air to water heat pumps ‘ sales are expected to grow to nearly 5.8 million units by 2030.

Among European countries, the German market performs more prominently. According to the European Heat Pump Association, Germany witnessed record demand for  air to water heat pumps in 2022. The German  air to water heat pumps market is expected to be worth US$1.92 billion in 2024 and will grow to US$4.12 billion at a compound annual growth rate of 7.9% by 2034.

As the largest importer of  air to water heat pumps in Europe, China accounts for as much as 60% and occupies an important position in the European market. In the first half of 2022, China's exports to Bulgaria, Poland, Italy, and Spain increased by as much as 614%, 373%, 198%, and 71% respectively.