heat pump market in uk grow

Heat pumps are a very perspective method of heating the house. Lots of advantages make people buy them. According to the forecasts, air source heat pump market is expected to grow in the next few years.

The tendency of the United Kingdom heat pumps market in 2017

Nowadays the United Kingdom citizens apply ground/air source heat pumps using them not just for heating their houses but also for getting hot water. The United Kingdom is one of the few countries, where the heat pumps are not still that widespread, while the whole Northern Europe, the USA, and Canada have already got used to them. But will such situation last forever?

Today the heating system of this state is based on the gas (it totals up to 85%). The UK is even referred to as the largest boiler market in Europe. At the same time, the heat pumps systems represent only 1%, while the renewable resources, in general, do not exceed 2%. There are several reasons for such poor spreading:

  • the considerable upfront payments (it is much cheaper to install a boiler than to set up a heat pump in the house)
  • the low savings on the operation (the prices for the electricity are 3 times higher than those for the gas) while in the other European countries the costs total 4 pence per kW compared to 13 pence in Great Britain)
  • very high operational costs (the technology needs to be optimized, the qualified engineers and other specialists are required for the management systems and electric circuit)

Despite those aspects against the installation of the heat pumps in the UK, their market is considered to grow very soon. And there are a few causes of such conclusion:

  • the possibility to install the equipment (the one-phase heat pumps are used in the majority of cases, which is why the one-phase electricity is appropriate, in particular cases, several one-phase heat pumps might be set up)
  • special regulation creations (with RHI program, the government encourages the installation of the heat pumps with certain payments for their application).

Global heat pumps market

The application of the heat pumps in the world keeps growing. The compound annual growth rate for the following years is considered to be 11%. According to the recent research, by 2021, the global air heat pumps market will reach $193 billion. There are several aspects, which contribute to the market growth:

  • low running costs (especially if we compare them with the oil or electric heaters)
  • environmental safety
  • tax benefits (which many countries offer)
  • high effectiveness
  • the increase of the global energy consumption (with the population growth)
  • the possibility to use the heat pump as either a heater or a cooler (for instance, in the summer).

Such systems have much more benefits than all the conventional methods of heating, including boilers, heaters, conditioners, etc.

One of the specialists from the Simon Cristian CEO Husky Heat Pumps Ltd. assures that the savings after the heat pump installation will total up to 50%. Even taking into account the fact that the figures might be affected by the outdoor temperature, the savings will be quite considerable in comparison with the other modern methods of heating.

The growth of the heat pumps usage in the United States started in 1992 when a corresponding initiative was created by EPA. It promoted energy efficiency offering the tax credits. Nevertheless, the tax credits are offered only for the constructions enumerated in the EPA list.

Nowadays the other states also provide their population with the reduction of taxes for the heat pumps usage. Among them, there’re Japan, the UK, Australia, etc.

The necessity of the heat pumps application keeps getting bigger with the constant growth of the population. People require more and more electricity every year. Only in China, the energy demand will increase by 35% by 2035. The GDP is also expected to double by that time.

All figures and numbers are approximate and stated for information only. Figures for your property may vary. Subject to survey

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Air source heat pump market to grow