Europe to Achieve Carbon Neutrality with Healthy Heat Pump Market Growth

The European air-to-water (ATW) heat pump market, which grew explosively during the period spanning 2020 to 2022, is currently facing various challenges. Issues are arising throughout the industrial process, including disruptions to production plans and supply chains as well as increased distribution inventory.
The explosive growth of the market a few years ago was the result of a combination of multiple factors, including governments’ decisions to phase out gas boilers in an effort to decarbonize and the provision of generous subsidies for electric heat pumps as an alternative clean heating device, along with concerns about gas supplies triggered by the Ukraine crisis.