Northern Europe is a mature market for heating. The region is said to be the largest market of ground-source heat pump (GSHP) system in all of Europe. With heat pumps highly recognized, the ATW heat pump market has gradually grown over the last few years.
Sweden is a monobloc type ATW heat pump market, and a relatively small number of outdoor units for split type ATW heat pumps are shipped there. Nibe, one of the leading manufacturers in Sweden, is focusing on selling monobloc type ATW heat pumps by procuring outdoor units for split type ATW heat pumps from Mitsubishi Heavy Industries (MHI) and supplying its own indoor units. Having secured a local heat pump manufacturer IVT in Sweden as its subsidiary, Bosch is expanding its share in the Swedish market through the IVT brand.