World ATW Heat Pump Market – 2022 Update – 1 OVERVIEW

With the ongoing deployment of COVID-19 vaccines worldwide, countries have adopted active fiscal and monetary policies and other measures, and the global economy began to recover in 2021. However, the decarbonization targets ahead are daunting. It has become a consensus that heat pump technology is essential to achieve this goal. In particular, European countries have formulated and promulgated clean energy policies. Many countries have provided generous subsidies for heat pumps, dramatically promoting air-to-water (ATW) heat pump markets. The global ATW heat pump market achieved an excellent V-shaped recovery in 2021, following the relatively low growth rate experienced in 2020.