World ATW Heat Pump Market: OVERVIEW

In 2018, global air-to-water (ATW) heat pump demand with the exception of China reached 981,200 units, rising 10% year on year. The major markets are concentrated in China, Japan, and Europe, accounting for 56.6%, 21%, and 16.3% of the global market respectively. The global ATW market has continued to maintain stable growth. Europe saw the highest growth rate, and Japan enjoyed stable growth. Rapid growth was attributed to accelerated phase-out of oil-fired boilers and low-efficiency gas-fired boilers in Europe.