Haier's air source heat pumps have achieved significant growth in the European market. As many European countries are about to enter winter and face increased heating demands, coupled with soaring electricity prices and natural gas shortages, many families are looking to heat pump heating as an alternative to traditional natural gas boilers. The demand for heating has surged dramatically, leading to a noticeable increase in the order volume of Chinese companies. In the first half of the year, the export sales of Haier air source heat pumps increased by more than 200% year-on-year, and the order volume increased tenfold. Haier holds the largest market share in the domestic heat pump market and has also achieved multi-fold growth in the European market .
The European heat pump market is expected to continue growing in the long term, with a scale expected to exceed 400 billion euros. The significant increase in the export volume of air source heat pumps is largely due to supportive policies in Europe. According to statistics from the European Environment Agency, the cost for a European family to purchase an air source heat pump system, including equipment and installation, is about 10,000 euros, but subsidies from countries like France and Italy can reach up to 5,000 euros, greatly reducing installation costs and the payback period for equipment .
Haier has also been making technological innovations, achieving stable operation of air source heat pumps in a wide temperature range of -25°C to 55°C. The full DC inverter technology exceeds the industry's first-level energy efficiency, with an energy-saving efficiency of over 30%. Haier's air source heat pumps are sold in countries such as Poland, Italy, Spain, Turkey, and Portugal, and the company's growth rate in the first half of 2022 reached 200%, with an order volume increase ten times that of the previous year .
In the search for the latest information, the global heat pump industry value reached USD 46.8 billion in 2023 and is expected to rise at a CAGR of 10.2% during the forecast period, increasing from USD 51.6 billion in 2024 to USD 136.2 billion in 2034 . The sector is driven by increasing awareness of energy efficiency, environmental sustainability, and regulatory initiatives. Key trends include energy efficiency, technological advancements, regulatory support, integration with renewable energy sources, and smart HVAC solutions. Environmental awareness is driving demand for eco-friendly heating and cooling solutions, as heat pumps reduce greenhouse gas emissions compared to fossil fuel-based systems .
The air-to-air heat pump segment dominates the business in terms of revenue, accounting for around 44.3% of the share in 2034. These systems are gaining traction globally due to their dual capability of providing both heating and cooling. They extract heat from the outside air in winter and transfer it indoors, while in summer, they reverse the process, extracting heat from indoor air and releasing it outside. The growth of the air-to-air pump sector is driven by technological advancements, increased awareness of energy efficiency, and supportive government policies .
In conclusion, Haier's air source heat pumps have made significant inroads in the European market, driven by policy support, market demand, and technological innovation. The global heat pump market is also expected to grow steadily, with a focus on energy efficiency and environmental sustainability.