the Number of Heat Pump Installations will Reach 600 Million by 2030

The report mentioned that due to the promotion of electrification policy, the deployment of heat pumps is accelerating all over the world.

Heat pump is a key technology to improve energy efficiency and phase out fossil fuels for space heating and other aspects. Over the past five years, the number of heat pumps installed in the world has increased at an annual rate of 10%, reaching 180 million units in 2020. In the scenario of achieving net zero emission in 2050, the number of heat pump installations will reach 600 million by 2030.

In 2019, nearly 20 million households purchased heat pumps, and these demands are mainly concentrated in Europe, North America and some cooler regions in Asia. In Europe, the sales volume of heat pumps increased by about 7% to 1.7 million units in 2020, realizing the heating of 6% of buildings. In 2020, heat pump will replace natural gas as the most common heating technology in new houses in Germany, which makes the estimated inventory of heat pumps in Europe close to 14.86 million units.

In the United States, the expenditure on residential heat pumps has increased by 7% from 2019 to US $16.5 billion, accounting for about 40% of the new single family residential heating systems built between 2014 and 2020. In the new multi family family, heat pump is the most commonly used technology. In the Asia Pacific region, heat pump investment increased by 8% in 2020.

Promoting heat pump as a standard heating equipment in building energy regulations is an important part of accelerating the adoption of heat pump technology.

One of the most important ways to improve efficiency and decarbonize buildings is to convert water and space heating from fossil fuel boilers and furnaces to electricity. Heat pumps, direct electric heaters and electric boilers have been used in several countries, although they are usually more expensive than natural gas. In the scenario of net zero emission in 2050, heat pump is the key technology to realize the electrification of space heating. In 2030, the global average monthly heat pump sales will exceed 3 million units, higher than the current about 1.6 million units.