Global heat pump demand will rise in 2020

With the rapid economic development, the overall demand for heat pump products is expected to grow in a blowout situation, driven by the tendency of consumers to gradually favor environmentally friendly and more efficient products. In 2013, the total global heat pump market reached 58.3 million sets. By 2020, it is expected that the CAGR will reach 10.6%, which means that by 2020, the total global market can reach 116 million sets. The global heat pump demand is expected to increase from 56.9 billion U.S. dollars in 2013 to around 116.6 billion U.S. dollars in 2020.

The growth of the market will receive strong support from the government's energy policies, incentive actions and regulations. For different types of heat pump technologies, hybrid, CO2, and gas-fired heat pump products will continue to expand their market share in the coming years. Due to the environmental protection and efficient technical features of CO2 heat pumps, the total demand for such heat pumps will increase significantly in the commercial and domestic sectors. At the same time, gas-fired heat pumps (CHPs) have also become environmentally-friendly alternatives for air conditioning and heating in industrial, residential and commercial buildings, and their energy efficiency can be increased by 150%.

Among the heat pump products, the air-water heat pump product has the fastest growth rate. During the period from 2007 to 2010, it achieved an annual growth rate of 21.5%, and it expects to achieve an annual comprehensive growth rate of 13.6% by 2020. , especially in the United States and China market.