The popularity of heat pumps has grown in Finland since the turn of the 21st century thanks to the demanding Nordic conditions and high heating needs. Most of the heat pumps sold in Finland are air source heat pumps, but according to LรคmpรถYkkรถnen’s CEO, the future growth engine of heat pumps will come from apartment buildings, where the penetration rate is currently less than 10%.
The conflict in Ukraine and the energy crisis of 2022 have created an unprecedented heat pump boom across Europe. Europe wants to get rid of gas and other fossil fuels quickly. The CEO of LรคmpรถYkkรถnen believes that heat pump demand growth in Europe will continue at the same pace as in Finland over the past 15 years. This development will bring about a massive change in Europe. In addition to heat pumps and electric cars, wind power and solar energy are becoming more common and are revolutionizing the entire European energy infrastructure and accelerating the electrification of society. The European Union’s target is to install 20 million heat pumps over the next five years, more than double the number by 2022, which is expected to cause availability problems as heat pump manufacturing capacity has not been invested in compared to future demand. The heat pump boom is now strongest in Poland, the Czech Republic and the Netherlands, with sales growth ranging from 80% to 102%.
HT
Source: The Nordic Page