Featured in Solar springs eternal – 09-2023

Pump it up

Heat pump sales are rapidly increasing, with new data showing that annual market growth could exceed 9% through 2035, writes Ranjana Jain, from Indian market research business Research Nester.

By

pv magazine

07 Sep 2023

Nordic countries such as Sweden, Finland, and Norway are leading Europe in heat pump sales. | Photo: Bosch

The size of the global heat pump market is expected to reach $180.2 billion by the end of 2035, expanding at a compound annual growth rate of 9.1%. In 2022, the market was valued at $71 billion.Annual installations in various national markets have been growing at a remarkable pace. In the United States, they have …

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