Industry data shows that in August, China’s exports of air source heat pumps increased by 59.9% year on year to US $120 million, of which the average price rose by 59.8% to US $1004.7 per unit, and the export volume was basically flat. On a cumulative basis, the export volume of air source heat pumps from January to August increased by 63.1%, the volume increased by 27.3%, and the average price increased by 28.1% year on year.
The total potential installed capacity of European heat pumps is 89.9 million
Heat pump is a kind of heating device driven by electric energy, which can efficiently use low-grade heat energy. According to the second law of thermodynamics, heat can be spontaneously transferred from a high-temperature object to a low-temperature object, but it cannot be spontaneously transferred in the opposite direction. The heat pump is based on the principle of reverse Carnot cycle. It uses a small amount of electric energy to drive the unit. It circulates through the working medium in the system in a disguised way to absorb, compress and heat up low-grade heat energy and then use it. Therefore, the heat pump itself does not produce heat, it is just a hot porter.
In the context of insufficient energy supply, Europe, on the one hand, has stepped up its energy reserves, and on the other hand, has actively sought more efficient energy utilization solutions. In particular, in terms of household heating, Europe is highly dependent on natural gas. After Russia drastically cut the supply, the demand for alternative solutions is very urgent. As the energy efficiency ratio of heat pumps is far higher than that of traditional heating methods such as natural gas and coal, it has received extensive attention from European countries. In addition, France, Germany, Italy, the Netherlands and other countries have introduced heat pump subsidy support policies.
In response to the energy crisis caused by the Russian Ukrainian conflict, the “RE Power EU” plan introduced in Europe mainly provides financial support for the four core areas of energy, of which 56 billion euros is used to encourage the use of heat pumps and other efficient equipment in the field of energy conservation. According to the estimation of the European Heat Pump Association, the potential annual sales volume of heat pumps in Europe is about 6.8 million units, and the potential total installation volume is 89.9 million units.
China is the world’s largest heat pump exporter, accounting for about 60% of the world’s production capacity. The domestic market is expected to benefit from the steady growth of the “double carbon” target, while the export is expected to benefit from the prosperity of overseas demand. It is estimated that the domestic heat pump market is expected to reach 39.6 billion yuan in 2025, with a compound annual growth rate of 18.1% from 2021-2025; In the context of the energy crisis in the European market, many countries have actively introduced heat pump subsidy policies. It is estimated that the size of the European heat pump market is expected to reach 35 billion euros in 2025, with a compound annual growth rate of 23.1% from 2021-2025.
Post time: Sep-29-2022