After a peak year, heat pump sales normalised to the level of previous years

In 2023, nearly 120,000 heat pumps were sold. According to Finnish Heat Pump Association SULPU statistics, the sales of heat pumps fell by 40% after the 50% increase in the peak year of 2022. In addition to the previous year being a peak year, other factors contributing to the sales normalising in 2023 to the level of 2021 were the decline in construction, the rise in interest rates, and the gloomier investment climate of the economy and households. A total of 90.000 air-to-air heat pumps and 12.000 air-to-water heat pumps were sold. With 12.000 pump installations, the ground source heat pump sector was the only one to remain at the level of the previous peak year. Exhaust air heat pumps in single-family houses suffered from the declining rate of construction of single-family houses. In 2023, just over 2,500 EAHPs were sold. In Finland, 800 million euros were invested in heat pumps in year 2023.