Estimates year-over-year growth of 10 percent in 2019
DUBLIN — According to a recently published report by Fact.MR, the worldwide sales of heat pumps reached 11 million units in 2018, which are estimated to record a year-over-year growth of about 10 percent in 2019. Gains in the heat pump market are prominently underpinned by the continued consumer quest for ecological alternative to conventional heating systems. The report also suggests that the thriving trend of decarbonizing buildings, aiming at the zero-carbon future, will continue to significantly contribute to the robust increase in market revenues.
A wave of energy efficiency and sustainable heating technologies hitting the residential, commercial, and industrial sectors has led to a notable rise in the adoption of heat pumps. Considering the rapid switch to renewable heating systems, heat pump manufacturers are focusing on the incorporation of the latest technologies in their high-efficiency low-cost offerings. The report opines that heat pump manufacturers are also investing efforts in product innovations in terms of customization, with an objective to cater to the demands created by region-specific climatic conditions.