China's Heat Pumps: Innovation And Growth

As the global focus on environmental protection and energy conservation intensifies, heat pumps, recognized as green and energy-efficient devices, are experiencing a surge in market demand. In 2024, China's heat pump industry is demonstrating new vitality amidst challenges and changes, with technological innovation and market expansion emerging as the two main drivers of industry development.

In terms of technological innovation, a paper by Professor Wang Ruzhu's team at Shanghai Jiao Tong University points out the significant potential for sustainable applications of heat pump technology in global heating and cooling. They propose interdisciplinary research methods and operational model adjustments to promote the restructuring of thermal energy utilization. Also, Haier's "Ultra-low greenhouse effect high-efficiency large temperature span thermoacoustic heat pump" project won the highest award in the China Innovation and Entrepreneurship Competition for Disruptive Technology Innovation, showcasing Haier's solid strength in heat pump technology.

Regarding market expansion, industry research data predicts that China's high-temperature heat pump market will achieve a year-on-year growth of 13.9% in 2024, with a projected compound annual growth rate of 26% over the next three years. This growth is attributed to dual drivers of policy support and market demand, requiring companies to seize this transformation opportunity, actively respond to policy calls, and promote the sustainable development and green transformation of the entire HVAC industry.

In the new energy vehicle sector, heat pump air conditioning systems are gradually becoming the future trend for vehicle air conditioning systems due to their efficiency, energy-saving, and environmental benefits. By 2025, the global electric vehicle heat pump air conditioning market is expected to grow to 42 billion yuan.

Furthermore, Midea Building Technology has performed well in the heat pump product market, especially in the northern heating and southern hot water markets. Midea's -35℃ dual-rotor jet enhancement Snow Flame series products have gained market recognition, driving sales growth.

The Chinese heat pump industry has made significant progress in technological innovation and market expansion in 2024, indicating that heat pump technology will play an increasingly important role in future energy structure transformation and environmental protection and energy-saving fields.