Market data
Heat pump sales fell by 23% in 2024, first data from 13 countries shows.
2 million heat pumps were sold in 2024 in those countries, compared to 2.6 million in 2023.
This consolidates the slowdown seen in the annual sales. In 2023, sales in 21 European countries fell by around 6.5% compared to 2022, reversing the trend of a decade. Sales dropped to 3.02 million.
There are now around 24 million heat pumps installed in Europe’s buildings.
See the executive summary of the 2024 market report report here.
The sector is slashing jobs and reducing production in Europe after investing billions in additional capacity in 2022 and 2023 to bolster Europe’s energy security and cut the use of Russian gas, much of which now lies idle. This is harming the competitiveness that policy makers are so keen to bolster.
At least 4,000 jobs have been cut with over 6,000 more suffering impacts. Overall, the sector provides around 170,000 direct jobs in Europe.
There are three reasons for the drop according to national experts: 1) governments have changed support schemes for heat pumps, unsettling consumer confidence; 2) a sluggish economy with a cost of living crisis, and 3) the low price of subsidised gas.
Consumers want clean heat and comfortable homes, and they want to support European jobs and energy independence. As soon as they can see it’s possible thanks to supportive EU and national policies, and taxes which penalise fossil fuels not people, they show this by turning to heat pumps.
EHPA is calling on the EU Commission and governments to deliver by putting heat pumps front and centre of forthcoming measures and supporting European clean tech leadership.
EHPA publishes an in-depth look at the heat pump market in 21 European countries every year in its market report – see the contents page to the left.
Read part of the report below, or purchase the full report here. The market report is free for EHPA members (access here), policy-makers and the media (contact Guillaume Uguen).