A heat pump is a system for heating or cooling enclosed spaces or domestic water that uses a refrigeration cycle to transfer heat energy from a cooler space to a hotter space, with the heat transfer in the opposite direction without the application of external power.
The advantage of a heat pump:
Firstly, heat pumps are truly energy efficient and can use approximately 50% less electricity for heating than electric furnaces and resistance heating such as baseboard heaters.
Secondly, the heat pump can both cool and heat. It has a wide range of applications to achieve a multi-purpose machine.
Heat pumps are now widely used in homes, industry, commerce, agriculture, schools, and other areas.
Heat pump technology is experiencing substantial growth worldwide. It has the largest market penetration in the Nordic countries’ building stock and also has a large share of the technology in the renovation of older homes.
In China, coal-to-electricity conversion has been given renewed importance after introducing the double carbon target. 2021 has seen the domestic air source heat pump market go through a phase from price increase to shortage. Demand for heat pumps will continue to grow based on China’s large population and purchasing power. China will become the largest market for heat pumps.
