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Summary and extracts
1 Market overview
1.1 Introduction
Heat pumps are an ecological and economical solution for heating and cooling your home. They are based on a thermodynamic system that transforms energy from a cold environment into heat for the space to be heated.
There are several different types of heat pump, with different mechanisms:
- traditional air-to-air aerothermal
- geothermal (transforms energy drawn from the ground)
- hydrothermal (transforms energy drawn from the water table).
Like the booming global market, the French heat pump market is also growing rapidly. France is Europe's leading market.
Heat pumps are used in homes as well as in today's corporate offices, and are also one of the preferred systems in new-build and renovation projects, after wood-burning inserts and stoves. Heat pumps will account for a growing share of renewable energy consumption in France.
Air-to-air and air-to-water hydrothermal heat pumps are the fastest-growing segments, while geothermal heat pumps are in decline.
The market is largely influenced by growing ecological concerns, as well as the ever-increasing cost of energy to heat homes. The sector is also largely dependent on the public sphere and policies that can stimulate the use of more environmentally-friendly energy solutions.
Innovation also represents a real growth driver for the market. with a renewed, ever more connected and intelligent offering, heat pumps should be able to manage their energy consumption levels even more precisely and appropriately, an economic as well as an ecological advantage.
1.2 The global market
The global heat pump market has grown significantly in recent years. In ****, the market size was $*.** billion. It increased to $*.*** billion in ****, and is expected to continue growing in the coming years. Market size is estimated to reach $*.*** billion in ****, then $*.** billion in ****. Growth is expected to continue, with a market ...
1.3 The European market
We base ourselves on data provided by Eurostat using code ********, which corresponds to the following heading: "Heat pumps (***)"
The value of heat pump production has been growing rapidly over the past decade, doubling from *.*** billion euros in **** to * billion euros in ****.
Value of heat pump production European Union, **** to ****, in millions ...
1.4 The domestic market
The value of heat pump production in Spain rose significantly between **** and ****. In ****, production was worth **,*** million euros, and by **** it had risen to ***,*** million euros. This represents overall growth of ***% over this period. The average annual growth rate (***) for this period is **.*%. Production accelerated sharply from **** onwards.
Spanish heat pump ...
1.5 Imports and exports
In order to study Spanish foreign trade in heat pumps, we will evaluate data related to HS code ******: "Heat pumps; other than air conditioning machine of heading no. ****" of the United Nations International Classification.
Between **** and ****, Spanish foreign trade in heat pumps saw significant developments. Exports increased by ***.*%, from $**.** million in ...
1.6 Spain's changing energy mix
The Spanish government has set targets for changing the country's energy mix by ****. Compared to ****, fossil fuels are set to decrease by **% to **.*** million tonnes of oil equivalent. Nuclear power generation is set to fall by **% to *.* million tonnes of oil equivalent. Other forms of energy, which accounted for *,*** million tonnes ...
2 Demand analysis
2.1 State of the Spanish real estate market
In ****, Spain had a total housing stock of **,***,*** homes and offices. Of these, buildings with more than ** apartments account for **.**% of the total Spanish housing stock. Buildings with between * and * apartments account for **.**% of the total, and two-family homes for *.**%. Finally, office buildings are in the minority, with a share of ...
2.2 Spanish climate and air-conditioning and heating equipment
The map below shows Spain's climate zones. They have been defined by the CTE, the technical building code that governs Spanish insulation standards. The blue zones correspond to cold, mountain climates, while the zones tending towards red represent warmer climates. Heating demand is therefore determined by this climatic reality, and will ...
2.3 demand typology
In terms of heat pumps installed in Spain up to ****, **.**% were intended for residential use. Private heating and air-conditioning thus represent the sector's greatest demand.
Buildings equipped with heat pumps by sector, among buildings equipped España, ****, % (***) Source: ****
Between geothermal and aerothermal heat pumps, in **** heat pumps were very unevenly distributed. ...
2.4 Subsidies
The table below lists the various grants available to private individuals for the installation of heat pumps:
Source: ****
below are the requirements for obtaining these subsidies:
The subsidy must be for residential use. The installation must comply with the requirements of the Thermal Installations in Buildings Regulation and use air-water technology. Aerothermal ...
3 Market structure
3.1 Value chain
The graph below shows the value chain of the heat pump sector in Spain:
The stages in this value chain include the following:
Procurement of raw materials: Heat pump manufacturers source the materials needed to build the units. This may include components such as compressors, heat exchangers, piping, sensors, valves and ...
3.2 Production
Between **** and ****, the number of multitasking heat pumps installed in Spain increased by ***.*%, from **,*** to **,***. At the same time, the number of heat pumps intended solely for domestic hot water (***) also increased significantly, by ***.*% over the same period, from *,*** to **,***. It's important to note that the latter are included in the ...
4 Offer analysis
4.1 Types of heat bombs :
Typology of heat pump types:
There are two operating modes for heat pumps, and two sub-categories for aerothermal heat pumps. Systems that produce both heat and air conditioning are said to be reversible. Both aerothermal sub-systems can be reversible.
Aerothermal :
Operating principles: An outdoor unit captures heat from the outside air, ...
4.2 Prices
In ****, the average price for the installation of a heat pump system in Spain was estimated at between *,*** and **,*** euros for a dwelling.
Average price of a heat pump in Spain Spain, ****, euros Source: ****
Within this price range, the heat pump accounts for a significant proportion of the installation, with an ...
4.3 Supply trends
Here are a few trends in the Spanish heat pump market:
More energy efficiency: The quest for energy efficiency is an important trend in the heat pump market. Manufacturers are seeking to develop more efficient products to reduce energy consumption and minimize environmental impact.
Connectivity and home automation : Connectivity has become ...
5 Regulations
5.1 Regulations
The year **** was marked by a series of new regulations influencing the agenda of players in the air conditioning and heating sector.
In ****, the redefinition of the EU's new energy policy was particularly important, thanks to the RepowerEU communication, which proposes, among other measures, the deployment of * million heat pumps by ...
6 Positioning the players
6.1 Segmentation
- Leroy Merlin Espagne
- Samsung Group
- LG Electronics Deutschland
- J.Corradi
- Stuv
- Thermor
- Tradesa
- Ev confort
- Ducasa
- Haverland
- ACV
- Wolf
- Baxi
- Junkers
- Kaysun
List of charts presented in this market study
- Value of heat pump production
- Breakdown of heat pump production value
- Spanish production of heat pumps
- Growth forecasts for the global heat pump market
- Distribution of housing types in Spain
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The heat pump market | Spain
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