Heat Pump Demand in Europe Stimulates Production in China

Since the second half of 2021, rising energy prices in Europe have stimulated rapid demand growth for heat pumps.

According to China Customs statistics, soaring demand for heat pumps in Europe has led China to see the export value of heat pumps reach RMB 3.62 billion (about US$ 530.2 million), increasing by 63.2% year on year. According to the calculation standard of China Customs, China saw the export volume of air-to-water (ATW) heat pumps to Europe rise to 1.061 million units in 2021, accounting for 78.1% of the total export volume of ATW heat pumps from China. Chinese manufacturers have made systematic inroads in the heat pump field.