16 May 2011

Market report: The Swedish people confirms its love for heat pumps

As the economy slowly recovers
from the recent recession the heat
pump industry strengthens its position
as the number one heating technology
in Sweden. 2010 resulted in
yet another year with over 100 000
heat pumps sold. The value of the
heat pump market is estimated as
somewhere in the range of 980 million
Euro 2010 (+21 %), excluding
service and maintenance. There are
now over one million heat pumps
in operation in Sweden and there
are no signs of a weakening market.
The most significant changes on the
market are the increased interest
in ground source heat pumps and
larger applications for multi-family
houses and commercial buildings.
According to estimates by the Swedish
Heat Pump Association (SVEP),
multi-family houses and commercial
buildings now account for as much
as 15 % of total heat pump market
sales. Its turnover and market share
seem to show continuous growth.