Heat pump Renaissance: Europe's market in the upswing!

Heat pump Renaissance: Europe's market in the upswing!

In an revealing interview with the Japanese journal Jarn, Peter Guan, Vice President of the Midea Group, expressed optimistic perspectives for the global heat pump market. The European market for air-water heat pumps in particular shows promising growth forecasts, while North America and Australia are also recognized as promising markets. Midea, a leading company in the area of heating, ventilation and air conditioning technology (HVAC), has actively worked on the introduction and spread of this innovative technology, which was awarded by Technology Review as one of the groundbreaking technologies in 2024. Guan describes the heat pump technology as a key to reducing the dependence on fossil fuels and to promote carbon neutrality, which is to be reinforced in the next two years by technological advances and supportive political measures. According to ots.at it is expected that the market conditions in Europe would be significant by improved subsidies and funding programs benefit.

strategic Expansion in Europe and beyond

In order to expand market leadership, Midea Building Technologies (MBT) pursues a number of strategic measures, including the opening of a research and development center in Europe to develop products according to local needs. These initiatives aim to increase the efficiency and acceptance of heat pumps in private and commercial applications. In the past two years, MBT has set up more than 700 shop-in-shop displays for heat pumps in Europe in order to promote consumer awareness of the advantages of this technology. In addition, the company has invested more than 60 million euros in new production and research institutions.
In terms of market opportunities outside of Europe, MBT intends to expand significantly in North America and Australia. According to reports, the North American heat pump market will be increased by over 50 % by 2030, while in Australia, state initiatives should increase the use of heat pumps by 40 % by 2030. This expansion is part of Guans strategy to optimize technology, service differentiation and customer support worldwide to secure a competitive advantage, as well as aap.com reports.

MBT also invests in employee development and operates 32 training centers in countries such as Germany, Italy and Poland to train qualified heat pump installers. "The industry for heat pumps is growing quickly and offers significant opportunities through technological progress and favorable political framework," Guan summarizes the future of the company.