Western Europe is projected to account for a value share of 40.7 percent of the market by year end
November 11, 2016
Global sales of heat pumps is estimated to be valued at $6.5 billion by the end of 2016, witnessing a year-over-year growth of 5.8 percent over 2015, according to a new report from Future Market Insights.
Up until recently, sales of air-source heat pumps were on a tear, growing from 1.6 million units in 2009 to 2.3 million units in 2014, according to the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). But, in 2015, sales of heat pumps slipped 3.6 percent from the previous year.
A report by the European Heat Pump Association (EHPA) has found that after three years of stagnation the European heat pump markets are recovering. It indicates that 771,245 heat pump units were sold in Europe in 2013, an increase of 3 percent, and early data for 2014 show this trend to continue.
United States shipments of central air conditioners and air-source heat pumps totaled 500,813 units in August 2013, down 2.9 percent from 515,530 units shipped in August 2012, according to the latest statistics from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
Saving 30 to 40 percent on a home energy bill can be a challenge, but David Hutchins is helping some of his customers do just that. As owner and president of Bay Area Air Conditioning Inc. in New Port Richey and Crystal River, Fla., Hutchins is in what he describes as a heat pump market.