(China Business News) Sept. 6 — In the first half of the year, Chinese air source heat pump manufacturers have shown strong exports, especially to Europe, and governments around the world are seeking to subsidize this environmentally friendly heating system that draws heat from the environment. . This contrasts sharply with the sharp drop in overseas sales of most other home appliances.
China’s exports of air source heat pumps rose 68.2% year on year to 3.4 billion yuan ($489 million) in the first six months, accounting for nearly half of all sales. it is expected to exceed 50%.
Demand in Europe in particular is skyrocketing as many European governments offer significant subsidies of up to 5,000 euros ($5,000) to encourage the use of these environmentally friendly heating appliances that can be used as air conditioning systems in homes and offices. and in hot water systems. Exports to Italy, Poland and Spain in the first half of the year grew by more than 50% compared to the same period last year.
China exported about 2 million air source heat pumps to Europe last year. Industry insiders are optimistic that the annual export volume will exceed 10 million units in the next few years.
This is how Chinese manufacturers win. According to Chinaiol, China’s air source heat pump industry’s first-half revenue rose nearly 30 percent year-over-year to 7.1 billion yuan ($1 billion).
Wanhe’s air source heat pump sales more than doubled to 86.4 million yuan (US$12.4 million) during this period, while exports almost tripled to 7.8 million yuan. Chinayol said that the export value of Midea Group’s heat pumps has more than tripled.
Zhou Nan, secretary general of the home appliance division of the China Chamber of Commerce for the import and export of equipment, said Gree, Haier, Hisense and other home appliance companies are now paying more attention to overseas sales of air source heat pumps. And electronic products, says First Financial.
According to Cinda Securities, the European market for air-sourced residential heat pumps could reach 37.7 million units. With product upgrades, the long-term market demand for heat pumps in Europe could exceed 40 million units and the market size could exceed 400 billion euros (400 billion US dollars).