Buildings
8%
Average compound annual growth rate (CAGR) of heat pump sales in selected markets since 2012.
81%
Concentration of heat pump sales in just 5 markets
83%
Share of surveyed markets with heat pump purchase incentives in place
Heat pump sales by market
Global heat pump sales rose only 1% from 2021 to 2022, to 11 million, 7 percentage points less than the average compound annual growth rate since 2012. Sales remain concentrated in just five markets, with – the US, Japan, mainland China, France and Italy – together accounting for 81% of the total in 2022.
Heat pump prices
Due to high upfront costs, heat pump demand remains quite dependent on subsidies or other consumer-support mechanisms
Clean buildings policies
Heat pump purchase incentives are present in 24 of the markets surveyed, making them the most popular such policy on the books. Low-carbon heat targets or roadmaps, which are in place in 76% of covered markets, are a close second. Tax credits and boiler scrappage are also relatively popular, with roughly 50% of markets using these to support heat pump adoption.