October 8, 2018 - 4:51 AM EDT
Print Email Article Font Down Font Up
European Heat Pump Market and Statistics Report 2018: 2017 Sales Figures & Forecast to 2020

Dublin, Oct. 08, 2018 (GLOBE NEWSWIRE) -- The "European Heat Pump Market and Statistics Report 2018" report has been added to ResearchAndMarkets.com's offering.

This annual report reveals a growing market for the fourth year in succession. At the end of the year, the counter had reached 10.6 million, the result of 1.11 million units sold in 2017 (+10%). Signs from several markets in Europe indicate, that this growth continues in 2018 since more than eleven million HPs (in total) were installed by the end of the first half of 2018.

At the end of the year, the counter of heat pump units sold in Europe had reached 10.56 million, the result of 1.10 million units sold in 2017 (+10%). For the 4th year in a row, the European heat pump market had been growing and for the third consecutive year, it was even a double-digit growth. Signs from several markets in Europe indicate, that this growth will continue in 2018.

If it continues, a doubling of the European Heat Pump Market by 2024 is realistic. As in particular the legal framework is improving there is good reason to believe that this assumption is a realistic one. What start- ed as Clean energy for all Europeans, a proposal by the European Commission has now become legislation. Earlier this year, the energy performance of buildings directive was agreed upon. One of the main pillars is the requirement of Member States to compile a renovation strategy.

The agreement on the renew- able energy directive not only introduces a new binding 32% renewables target to be reached by 2030, but also puts special focus on accelerating the use of renewables in heating and cooling combined with the indicative goal of growing renewables in this sector by 1.3 percentage points annually. Just this week, the European co-legislators agreed on the final version of the energy efficiency directive that includes a non- binding efficiency target of 32.5%, to be reached by 2030 and revises the European primary energy factor to 2.1%, thus making the use of electricity more attractive. Maybe of highest importance is the new governance regulation that mandates the introduction of a carbon budget and thus makes measuring progress easier.

While these targets seem ambitious to some, heat pumps do contribute to all of them and can turn a seemingly high ambition into a realistic goal. It requires however a proper implementation of the pieces of legislation on the Member State level and a full recognition of the technologies potential.

This report shows what is possible: 1.10 million heat pumps sold in 2017 generate 16.7 TWh of useful heat, 10.5 TWh of which coming from a renewable source. The newly installed heat pumps save Mt of CO2 emissions and save 13.5 TWh of final energy. At the same time, they provide 37.2 GW of storage capacity.

In terms of the stock, 10.56 million heat pumps installed generate 181.1 TWh of useful heat, 115.8 TWh of which coming from renewable sources. The stock saves 29.7 Mt of CO2 emissions and 147.7 TWh of final energy. At the same time, they provide 369.0 GW of storage capacity.

With expected growth comes the challenge to industry to prepare the value chain from R&D via production to design and installation for a much larger number of units to be handled annually. In this context, the phase down of fluorinated gases is a major challenge that has already triggered the development of low and now GDP alternatives. Based on the examples of development work that I have seen, I am optimistic that the industry will master both the growth and the component challenge by introducing better, more efficient and more cost competitive heat pump systems ready to decarbonise heating and cooling - completely by 2050.

The 2018 Market and Statistics Report is now available and features:

  • 2017 sales figures on 21 European countries
  • EU policy trends
  • Industry trends
  • Forecast until 2020 for all 21 countries

Key Topics Covered:

1. Executive Summary

2. Energy Trends

3. Policy
3.1 Energy Union and broader Eu policies
3.2 Greenhouse gas emission reduction
3.3 Energy Efficiency
3.4 Renewable energy
3.5 Supply security
3.6 Competitiveness &local jobs
3.7 Affordability
3.8 Smart grids

4 The European Heat Pump Market in 2017
4.1 European Heat pump market development
4.2 Market segmentation
4.3 Heat pump Benefits
4.4 Market Drives
4.5 Forecast
4.6 Heat Pump development potential
4.7 Heat Pump market shares across Europe

5 Country Reports
Czech Republic
Slovak Republic

6 Annex

For more information about this report visit https://www.researchandmarkets.com/research/w5kjjv/european_heat?w=12

Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager.

CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Manager
         [email protected]
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900
Related Topics: Pumps


Source: GlobeNewswire (October 8, 2018 - 4:51 AM EDT)

News by QuoteMedia

Legal Notice